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Thailand Freight and Logistics Market Size

The Thailand Freight and Logistics Market is poised for significant growth, with its market size projected to expand substantially over the forecast period. The country's strategic initiatives, such as the transformation of U-Tapao Airport into a global aviation hub and the extensive national infrastructure development program, are key drivers of this expansion. Thailand's ambition to become the ASEAN transportation nucleus is supported by its focus on enhancing transportation and logistics through various projects, including upgrades to seaports, railways, and public transport networks. Additionally, the push towards electric vehicle manufacturing further underscores Thailand's commitment to advancing its logistics and transportation sector, contributing to the overall increase in market size.

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Market Size of thailand freight and logistics Industry

Thailand Freight and Logistics Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 50.16 Billion
svg icon Market Size (2030) USD 72.19 Billion
svg icon Largest Share by Logistics Function Freight Transport
svg icon CAGR (2024 - 2030) 6.26 %
svg icon Fastest Growing by Logistics Function Courier, Express, and Parcel (CEP)
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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Thailand Freight and Logistics Market Analysis

The Thailand Freight and Logistics Market size is estimated at 50.16 billion USD in 2024, and is expected to reach 72.19 billion USD by 2030, growing at a CAGR of 6.26% during the forecast period (2024-2030).

50.16 Billion

Market Size in 2024 (USD)

72.19 Billion

Market Size in 2030 (USD)

3.83 %

CAGR (2017-2023)

6.26 %

CAGR (2024-2030)

Fastest Growing Market by Mode of Transport

7.97 %

Projected CAGR, Air, 2024-2030

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In 2023, the Thai Government initiated the USD 8.8 billion Eastern Aviation City project. Spanning an expansive 1,040 hectares, the project is set to redefine the region's aviation landscape.

Largest CEP Market by Destination

65.06 %

value share, Domestic, 2023

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E-commerce has been a major driver for the growth of the domestic segment of the CEP market. In 2023, the e-commerce market was valued at USD 16.41 billion, up from USD 15.36 billion in 2022.

Largest Market by End User Industry

40.08 %

value share, Wholesale and Retail Trade, 2023

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The end-user industry is being propelled by the surge in e-commerce. The e-commerce market rebounded with a 6.83% YoY growth in 2023, following a decline of 0.96% YoY in 2022.

Largest Warehousing Market by Temperature Control

92.15 %

value share, Non-Temperature Controlled, 2023

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The continued boom in e-commerce, coupled with the structural shift toward omnichannel strategies is leading to a growing demand for non-temperature-controlled warehousing space.

Fastest Growing Warehousing Market by Temperature Control

6.01 %

Projected CAGR, Temperature Controlled, 2024-2030

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The OTC pharmaceuticals sector is projected to register a CAGR of 5.93% during 2024-2028, which is expected to drive the demand for temperature-controlled warehouses.

Rising GDP contribution of the transport sector increases investment opportunities in the freight market

  • In 2023, the Thai government initiated the Eastern Aviation City project worth THB 290 billion (USD 8.8 billion). This involves the transformation of U-Tapao Airport, a facility dating back to the Vietnam War in Rayong, into a global aviation hub. The upgraded airport will be linked to Don Muang Airport and Suvarnabhumi Airport. Spanning 1,040 hectares, the project encompasses the construction of a new terminal and the establishment of a cargo-free trade zone.
  • Thailand is advancing its transportation and logistics landscape, positioning itself as the ASEAN's transportation nucleus. The country's increasing urbanization has spurred a demand for transportation enhancements. As of 2021, Thailand's national infrastructure development program allocated USD 25.2 billion across 36 projects. These projects encompass a wide spectrum, ranging from rail and road upgrades to public transport enhancements, airport expansions, and seaport developments across the nation. Notable initiatives include the U-Tapao airport overhaul, upgrades to Sattahip, Laem Chabang, and Map Ta Phut seaports, the implementation of high-speed and double-track railways, and the expansion of Bangkok's public transport network.
  • Thailand aims to convert about 30% of its annual production of 2.5 million vehicles into EVs by 2030 and is preparing incentives to encourage more investment and conversion into EV manufacturing. Thailand plans to provide incentives and tax breaks for manufacturers setting up electric vehicle R&D centers as it seeks to build on early success as a regional EV frontrunner. Various Chinese automobile manufacturers have committed to invest USD 1.44 billion in new production facilities in Thailand, with BYD investing nearly USD 500 million to produce 150,000 EVs a year.
Thailand Freight and Logistics Market

Thailand 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.

  • In 2023, the Thai government initiated the Eastern Aviation City project worth THB 290 billion (USD 8.8 billion). This involves the transformation of U-Tapao Airport, a facility dating back to the Vietnam War in Rayong, into a global aviation hub. The upgraded airport will be linked to Don Muang Airport and Suvarnabhumi Airport. Spanning 1,040 hectares, the project encompasses the construction of a new terminal and the establishment of a cargo-free trade zone.
  • Thailand is advancing its transportation and logistics landscape, positioning itself as the ASEAN's transportation nucleus. The country's increasing urbanization has spurred a demand for transportation enhancements. As of 2021, Thailand's national infrastructure development program allocated USD 25.2 billion across 36 projects. These projects encompass a wide spectrum, ranging from rail and road upgrades to public transport enhancements, airport expansions, and seaport developments across the nation. Notable initiatives include the U-Tapao airport overhaul, upgrades to Sattahip, Laem Chabang, and Map Ta Phut seaports, the implementation of high-speed and double-track railways, and the expansion of Bangkok's public transport network.
  • Thailand aims to convert about 30% of its annual production of 2.5 million vehicles into EVs by 2030 and is preparing incentives to encourage more investment and conversion into EV manufacturing. Thailand plans to provide incentives and tax breaks for manufacturers setting up electric vehicle R&D centers as it seeks to build on early success as a regional EV frontrunner. Various Chinese automobile manufacturers have committed to invest USD 1.44 billion in new production facilities in Thailand, with BYD investing nearly USD 500 million to produce 150,000 EVs a year.
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
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Thailand Freight and Logistics Market Size Summary

The Thailand freight and logistics market is poised for significant growth, driven by extensive infrastructure developments and strategic government initiatives. The country's ambition to become the transportation hub of ASEAN is evident through major projects like the Eastern Aviation City, which aims to transform U-Tapao Airport into a global aviation center. This project, along with numerous upgrades to seaports, railways, and public transport systems, underscores Thailand's commitment to enhancing its logistics capabilities. The government's investment in electric vehicle manufacturing and incentives for EV production further highlight the integration of sustainable practices within the logistics sector. These efforts are expected to bolster Thailand's position in the regional market, making its supply chains more reliable and competitive.

The logistics sector in Thailand is a crucial component of the national economy, contributing significantly to GDP and benefiting from the rapid expansion of international trade and e-commerce. Road freight remains the dominant mode of transport, with substantial investments planned in new railway and road projects to support this. Despite challenges such as fluctuating fuel prices and global economic pressures, the market remains fragmented with key players like DB Schenker, DHL Group, and FedEx leading the charge. The introduction of innovative solutions, such as Kuehne + Nagel's Book & Claim for electric vehicles, reflects the industry's shift towards sustainability. These developments, coupled with strategic investments, are set to drive the growth of Thailand's freight and logistics market in the coming years.

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Thailand 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

Thailand Freight and Logistics Market Size FAQs

The Thailand Freight and Logistics Market size is expected to reach USD 50.16 billion in 2024 and grow at a CAGR of 6.26% to reach USD 72.19 billion by 2030.

In 2024, the Thailand Freight and Logistics Market size is expected to reach USD 50.16 billion.

Freight and Logistics Market in Thailand Report Snapshots

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