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ASEAN Freight and Logistics Market Size

The ASEAN Freight and Logistics Market is projected to experience significant growth over the forecast period, driven by infrastructure developments and strategic government initiatives across the region. Malaysia's emphasis on clean energy and infrastructure, Indonesia's comprehensive logistics ecosystem enhancement plan, Vietnam's ambitious maritime sector goals, and Thailand's e-commerce development are key factors contributing to the expansion of the market size. These efforts aim to reduce logistics costs, boost economic contributions from maritime and logistics sectors, and enhance regional trade efficiency, thereby increasing the overall market share in the ASEAN region.

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Market Size of asean freight and logistics Industry

ASEAN Freight and Logistics Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 269.5 Billion
svg icon Market Size (2030) USD 390 Billion
svg icon Largest Share by Logistics Function Freight Transport
svg icon CAGR (2024 - 2030) 6.35 %
svg icon Largest Share by Country Indonesia
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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ASEAN Freight and Logistics Market Analysis

The ASEAN Freight and Logistics Market size is estimated at 269.5 billion USD in 2024, and is expected to reach 390 billion USD by 2030, growing at a CAGR of 6.35% during the forecast period (2024-2030).

269.5 Billion

Market Size in 2024 (USD)

390 Billion

Market Size in 2030 (USD)

5.00 %

CAGR (2017-2023)

6.35 %

CAGR (2024-2030)

Fastest Growing Market by Mode of Transport

7.83 %

Projected CAGR, Air, 2024-2030

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The Vietnamese government approved the Masterplan on National Airport Development from 2021 to 2030 with a vision extending to 2050 in June 2023.

Largest CEP Market by Destination

64.14 %

value share, Domestic, 2023

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E-commerce has been the main driver for the growth of the domestic CEP market. Moreover, the ASEAN e‑commerce sector grew by 6.1% YoY and reached USD 82.54 billion in 2023.

Largest Country

45.10 %

value share, Indonesia, 2023

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In 2023, the Indonesian government invested USD 205.3 million to bolster the expansion of a 142km high-speed railway. This funding injection is a partial contribution of a total investment of USD 6 billion.

Largest Market by End User Industry

35.42 %

value share, Wholesale and Retail Trade, 2023

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In 2023, Malaysia witnessed a 7.7% YoY surge in its wholesale and retail trade. Meanwhile, Indonesia's retail sector is buoyed by its population and a growing middle class with increased purchasing power.

Fastest Growing Warehousing Market by Temperature Control

6.12 %

Projected CAGR, Temperature Controlled, 2024-2030

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The growth of the pharmaceutical market in the region is fueling the demand for temperature-controlled warehouses, prompting the establishment of new facilities and attracting investments.

Rising GDP contributions from ASEAN countries in the logistics sector leading to sector development

  • Malaysia's focus on clean energy transition is driving its infrastructure development, with both local companies and government-owned entities spearheading technological advancements. These initiatives span various sectors, including rooftop and floating solar, battery storage, and hydrogen. A notable example is the RM 38 million (USD 8.61 million) contract awarded by Masama Sdn Bhd to Sarawak Consolidated Industries Bhd (SCIB) in May 2022. The contract, encompassing engineering, procurement, construction, and commissioning, was for a road project connecting multiple locations in Sarawak, Malaysia, and was successfully completed in March 2023.
  • Infrastructure development has gained global momentum, and the Indonesian government, through Presidential Instruction No. 5/2020, has formulated a comprehensive plan to enhance the national logistics ecosystem. The objective is to reduce logistics costs from 24% to 17% of GDP by 2024. A key strategic move is the government's emphasis on bolstering port efficiency, recognizing its potential in curbing logistics expenses.
  • Vietnam, with its extensive coastline of 3,260 km and a network of rivers, presents significant opportunities in maritime freight transportation. The Vietnamese government has set ambitious targets, aiming to position the nation as a leading maritime power by 2030. These goals include elevating the maritime sector's GDP contribution to 10% and amplifying the economic significance of its 28 coastal cities and provinces, targeting a 65% to 70% share of the overall Vietnamese GDP.
ASEAN Freight and Logistics Market

Rising e-commerce trends and initiatives imposed by the government are driving the market's growth

  • Thailand's freight and logistics market, ranking fourth in the country's service sector, recorded a revenue of USD 76.91 billion in 2022. The Thai government unveiled an ambitious e-commerce development plan, targeting a domestic revenue surge to USD 209 billion by 2027, registering a CAGR of 10%. In 2021, Vietnam's freight and logistics market revenue stood at USD 71.95 billion, with road transport dominating the domestic cargo movement.
  • Indonesia, a key player in ASEAN's trade landscape, witnessed its GDP from the freight and logistics sector reach USD 111.53 billion in 2022, marking an uptick of USD 8.94 billion from the previous year. This growth was fueled by heightened exports, robust household consumption, and government investments. In 2021, Indonesia's manufacturing sector spearheaded the nation's exports, contributing over 70% to the total export value.
  • Malaysia's trade volume in ASEAN is on the rise. Notably, in November 2021, domestic exports in Malaysia surged to USD 22.42 billion, constituting a substantial 83.5% of the overall exports. In a move to bolster the nation's e-commerce ecosystem, the National Digital Economy and Fourth Industrial Revolution (4IR) Council approved the National E-commerce Strategic Roadmap 2.0 (NESR 2.0) in April 2021. Projections indicate that Malaysia's freight and logistics market is expected to amass a revenue of USD 38.42 billion by 2029.

ASEAN Freight and Logistics Industry Segmentation

Agriculture, Fishing, and Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, Wholesale and Retail Trade, Others are covered as segments by End User Industry. Courier, Express, and Parcel (CEP), Freight Forwarding, Freight Transport, Warehousing and Storage are covered as segments by Logistics Function. Indonesia, Malaysia, Thailand, Vietnam are covered as segments by Country.

  • Malaysia's focus on clean energy transition is driving its infrastructure development, with both local companies and government-owned entities spearheading technological advancements. These initiatives span various sectors, including rooftop and floating solar, battery storage, and hydrogen. A notable example is the RM 38 million (USD 8.61 million) contract awarded by Masama Sdn Bhd to Sarawak Consolidated Industries Bhd (SCIB) in May 2022. The contract, encompassing engineering, procurement, construction, and commissioning, was for a road project connecting multiple locations in Sarawak, Malaysia, and was successfully completed in March 2023.
  • Infrastructure development has gained global momentum, and the Indonesian government, through Presidential Instruction No. 5/2020, has formulated a comprehensive plan to enhance the national logistics ecosystem. The objective is to reduce logistics costs from 24% to 17% of GDP by 2024. A key strategic move is the government's emphasis on bolstering port efficiency, recognizing its potential in curbing logistics expenses.
  • Vietnam, with its extensive coastline of 3,260 km and a network of rivers, presents significant opportunities in maritime freight transportation. The Vietnamese government has set ambitious targets, aiming to position the nation as a leading maritime power by 2030. These goals include elevating the maritime sector's GDP contribution to 10% and amplifying the economic significance of its 28 coastal cities and provinces, targeting a 65% to 70% share of the overall Vietnamese GDP.
End User Industry
Agriculture, Fishing, and Forestry
Construction
Manufacturing
Oil and Gas, Mining and Quarrying
Wholesale and Retail Trade
Others
Logistics Function
Courier, Express, and Parcel (CEP)
By Destination Type
Domestic
International
Freight Forwarding
By Mode Of Transport
Air
Sea and Inland Waterways
Others
Freight Transport
By Mode Of Transport
Air
Pipelines
Rail
Road
Sea and Inland Waterways
Warehousing and Storage
By Temperature Control
Non-Temperature Controlled
Temperature Controlled
Other Services
Country
Indonesia
Malaysia
Thailand
Vietnam
Rest of ASEAN
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ASEAN Freight and Logistics Market Size Summary

The ASEAN Freight and Logistics Market is poised for significant growth, driven by strategic infrastructure developments and government initiatives across member countries. Malaysia is enhancing its logistics capabilities to become a regional hub, with investments in clean energy and infrastructure projects. Indonesia is focusing on improving its logistics ecosystem to reduce costs and boost efficiency, while Vietnam aims to strengthen its maritime sector to increase its economic contribution. Thailand is also making strides in e-commerce and logistics, aiming for substantial revenue growth. The region's economic expansion has led to increased trade and investment, necessitating improved transportation and storage services to facilitate the movement of goods.

The market landscape is characterized by a fragmented structure, with major global players like DB Schenker, DHL Group, FedEx, Kuehne + Nagel, and UPS holding a small share. These companies are actively expanding their operations to meet rising demand, as evidenced by recent developments such as DHL's deployment of additional freighters in Singapore and Kuehne + Nagel's focus on decarbonization solutions. The region faces challenges such as high logistics costs and fluctuating fuel prices, which impact freight rates and trucking capacity. Despite these challenges, the ASEAN Freight and Logistics Market is expected to continue its upward trajectory, supported by ongoing investments and strategic initiatives.

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ASEAN Freight and Logistics Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes 1. Market value in USD for all segments 2. Market volume for select segments viz. freight transport, CEP (courier, express, and parcel) and warehousing & storage 3.Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 End User Industry

      1. 1.1.1 Agriculture, Fishing, and Forestry

      2. 1.1.2 Construction

      3. 1.1.3 Manufacturing

      4. 1.1.4 Oil and Gas, Mining and Quarrying

      5. 1.1.5 Wholesale and Retail Trade

      6. 1.1.6 Others

    2. 1.2 Logistics Function

      1. 1.2.1 Courier, Express, and Parcel (CEP)

        1. 1.2.1.1 By Destination Type

          1. 1.2.1.1.1 Domestic

          2. 1.2.1.1.2 International

      2. 1.2.2 Freight Forwarding

        1. 1.2.2.1 By Mode Of Transport

          1. 1.2.2.1.1 Air

          2. 1.2.2.1.2 Sea and Inland Waterways

          3. 1.2.2.1.3 Others

      3. 1.2.3 Freight Transport

        1. 1.2.3.1 By Mode Of Transport

          1. 1.2.3.1.1 Air

          2. 1.2.3.1.2 Pipelines

          3. 1.2.3.1.3 Rail

          4. 1.2.3.1.4 Road

          5. 1.2.3.1.5 Sea and Inland Waterways

      4. 1.2.4 Warehousing and Storage

        1. 1.2.4.1 By Temperature Control

          1. 1.2.4.1.1 Non-Temperature Controlled

          2. 1.2.4.1.2 Temperature Controlled

      5. 1.2.5 Other Services

    3. 1.3 Country

      1. 1.3.1 Indonesia

      2. 1.3.2 Malaysia

      3. 1.3.3 Thailand

      4. 1.3.4 Vietnam

      5. 1.3.5 Rest of ASEAN

ASEAN Freight and Logistics Market Size FAQs

The ASEAN Freight and Logistics Market size is expected to reach USD 269.50 billion in 2024 and grow at a CAGR of 6.35% to reach USD 390.01 billion by 2030.

In 2024, the ASEAN Freight and Logistics Market size is expected to reach USD 269.50 billion.

Asean Freight And Logistics Market Report Snapshots

ASEAN Freight and Logistics Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030