Market Size of Hungary Third Party Logistics (3PL) Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 2.38 Billion |
Market Size (2029) | USD 2.91 Billion |
CAGR (2024 - 2029) | 4.08 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Hungary 3PL Market Analysis
The Hungary Third Party Logistics Market size is estimated at USD 2.38 billion in 2024, and is expected to reach USD 2.91 billion by 2029, at a CAGR of 4.08% during the forecast period (2024-2029).
Hungary's third-party logistics (3PL) market is strategically positioned between Western and Eastern Europe, solidifying its status as a regional logistics hub. With infrastructure upgrades, particularly in road and rail networks, Hungary plays a pivotal role in cross-border trade and regional supply chain operations. As of March 2024, warehouse storage costs have risen by 0.5% year-over-year, driving an annual increase in demand for warehousing. This rise in storage cost is expected to drive the growth of Hungary 3PL market, as businesses seek more cost-effictive and scalable warehousing solutions to meet rising demand.
Significant milestones include TEVA Pharmaceutical's automated warehouse in Debrecen and PEPCO's expansive distribution centers in Gyal on July 2023, catering to numerous stores across Europe. To support industrial growth, Hungary is increasingly adopting high-tech logistics solutions.
Moreover, in 2024, Hungary's 3PL sector is embracing digitalization and sustainable practices. There's a notable shift towards tracking technologies, containerization, and energy-efficient transport methods. While freight remains dominant due to its flexibility, investments in container handling and tracking systems are enhancing logistics capabilities.
Hungary 3PL Industry Segmentation
Third-party logistics companies provide services that have to do with the logistics of the supply chain. This includes transportation, warehousing, picking and packing, inventory forecasting, order fulfillment, packaging, and freight forwarding.
A 3PL (third-party logistics) provider offers outsourced logistics services, which encompass the management of one or more facets of procurement and fulfillment activities. In business, 3PL has a broad meaning that applies to any service contract that involves storing or shipping items. A 3PL service may be a single provider, such as transportation or warehouse storage, or a systemwide bundle of services capable of handling supply chain management.
A comprehensive background analysis of the Hungary 3PL Market covers current market trends, restraints, technological updates, and detailed information on various segments and the industry's competitive landscape.
The Hungary Third- Party Logistics (3PL) market is segmented by type (Domestic Transportation Management, International Transportation Management, and Value-added Warehousing and Distribution) and by end-users (Manufacturing & Automotive, Oil & Gas and Chemicals, Distributive Trade (Wholesale and Retail trade including e-commerce), Pharma & Healthcare, Construction, and other end-users). The report offers the market size and forecast in value (USD) for all the above segments.
By Services | |
Domestic Transportation Management | |
International Transportation Management | |
Value-added Warehousing and Distribution |
By End-User | |
Automobile & Manufacturing | |
Oil & Gas and Chemicals | |
Construction | |
Distributive Trade (Wholesale and Retail trade including e-commerce) | |
Pharma & Healthcare | |
Others |
Hungary Third Party Logistics (3PL) Market Size Summary
The Hungary Third Party Logistics (3PL) market is poised for steady growth, driven by its strategic geographic location and advancements in infrastructure and technology. The market is characterized by a robust network of local and international players offering a range of sophisticated logistics services. The country's road network has seen significant development, facilitating an increase in road transportation of goods, while rail transportation remains relatively stagnant. The logistics sector is adapting to new technologies and digitalization, which have enabled faster and more efficient handling and tracking of goods. Hungary's position as a link between Western and Eastern Europe, coupled with its competitive pricing and modern warehouse capacities, positions it as a regional logistics hub, particularly for industries such as automotive and pharmaceuticals.
The warehousing sector in Hungary is experiencing a surge in demand, driven by the need for innovative solutions in inventory management and storage to support industrial production. The chemical industry, a major contributor to the country's economy, along with the rubber, tire, and plastics industries, are expanding their production and storage capabilities to meet rising demand. This growth necessitates specialized logistics services, including temperature-controlled and containerized transportation. Recent investments by companies like TEVA Pharmaceutical Industries and PEPCO in automated and technologically advanced distribution centers highlight the ongoing expansion and modernization of logistics facilities in the region. The Hungarian 3PL market is expected to continue its upward trajectory, supported by these developments and the increasing demand for efficient supply chain management solutions.
Hungary Third Party Logistics (3PL) Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Current Market Scenario
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1.2 Market Dynamics
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1.2.1 Drivers
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1.2.1.1 Adoption of AI-Powered Freight Solutions
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1.2.1.2 Rising Cross-Border Parcel Volumes
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1.2.2 Restraints
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1.2.2.1 Fragmented Logistics Infrastructure
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1.2.2.2 Customer Compliance Complexities
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1.2.3 Opportunities
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1.2.3.1 Expansion through Air Freight Partnerships
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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1.4 Value Chain / Supply Chain Analysis
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1.5 Industry Policies and Regulations
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1.6 General Trends in Warehousing Market
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1.7 Demand From Other Segments, such as CEP, Last Mile Delivery, Cold Chain Logistics Etc.
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1.8 Insights on E-commerce Business
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1.9 Technological Developments in the Logistics Sector
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2. MARKET SEGMENTATION
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2.1 By Services
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2.1.1 Domestic Transportation Management
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2.1.2 International Transportation Management
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2.1.3 Value-added Warehousing and Distribution
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2.2 By End-User
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2.2.1 Automobile & Manufacturing
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2.2.2 Oil & Gas and Chemicals
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2.2.3 Construction
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2.2.4 Distributive Trade (Wholesale and Retail trade including e-commerce)
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2.2.5 Pharma & Healthcare
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2.2.6 Others
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Hungary Third Party Logistics (3PL) Market Size FAQs
How big is the Hungary Third Party Logistics Market?
The Hungary Third Party Logistics Market size is expected to reach USD 2.38 billion in 2024 and grow at a CAGR of 4.08% to reach USD 2.91 billion by 2029.
What is the current Hungary Third Party Logistics Market size?
In 2024, the Hungary Third Party Logistics Market size is expected to reach USD 2.38 billion.