Market Size of asean road freight transport Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2030 |
|
Market Size (2024) | USD 111.90 Billion |
|
|
Market Size (2030) | USD 160.11 Billion |
|
Largest Share by End User Industry | Manufacturing |
|
|
CAGR (2024 - 2030) | 6.15 % |
|
Largest Share by Country | Indonesia |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
ASEAN Road Freight Transport Market Analysis
The ASEAN Road Freight Transport Market size is estimated at 111.90 billion USD in 2024, and is expected to reach 160.11 billion USD by 2030, growing at a CAGR of 6.15% during the forecast period (2024-2030).
111.90 Billion
Market Size in 2024 (USD)
160.11 Billion
Market Size in 2030 (USD)
4.84 %
CAGR (2017-2023)
6.15 %
CAGR (2024-2030)
Largest Market by Distance
73.38 %
value share, Long Haul, 2023
A significant rise in exports and imports is a prominent factor that is driving the demand for long-haul trucking. For instance, exports registered a growth of 22.32% YoY in 2022.
Largest Market by Goods Configuration
64.53 %
value share, Solid Goods, 2023
Solid goods dominate the market, as industries such as construction, textiles, machinery, electronics, and automobiles, majorly contribute to the demand for road freight services.
Largest Market by End User Industry
32.70 %
value share, Manufacturing, 2023
Indonesia’s government aims to attract over USD 50 billion in foreign investments over the next decade, particularly for special economic zones (SEZ)-oriented manufacturing.
Fastest Growing Market by Truckload Specification
6.88 %
Projected CAGR, Less than-Truck-Load (LTL), 2024-2030
The LTL segment's growth is attributable to the booming e-commerce industry. Asia-Pacific’s e-commerce is expected to register a CAGR of 11.16% during 2023-2027.
First Leading Market Player
1.06 %
market share, Kerry Logistics Network Limited, 2022
Kerry Express (a subsidiary of SF Express) has offices across Thailand, Vietnam, Hong Kong, Taiwan, Malaysia, and Indonesia and handles more than 15 million boxes per month.
Thailand aims for 30% of the total vehicle production to account for electric cars by 2030 through the Electric Vehicle Policy
- Indonesia’s manufacturing industry grew by 5.01% in 2022. It was the strongest component of the country’s economic growth in terms of productivity. Moreover, Thailand is one of the largest automotive manufacturers in Southeast Asia, producing over 2 million vehicles annually for various household brands. The country's Electric Vehicle Policy aims for 30% of the total vehicle production to account for electric cars by 2030. The Thai government successfully attracted major automotive brands, such as Japanese, European, and US manufacturers, to set up production and export bases in Thailand.
- The retail sales of consumer goods and services in Vietnam reached USD 242 billion in 2022, a surge of 19.8% compared to the same period in the previous year. This was also a 15% increase from 2019. Despite the pandemic’s impact, the retail industry in Vietnam recovered fully and is expected to grow. Both domestic and foreign retailers sped up their businesses in 2022 with post-pandemic plans to further tap the country’s growing middle-income group, creating a booming year for the industry. For instance, Aeon, Japan’s largest retailer, is accelerating the opening of malls and stores in Vietnam to expand its presence.
- During the period 2023-2027, the ASEAN e-commerce market is projected to register a CAGR of 11.11%. This growth in the e-commerce market is expected to boost the wholesale and retail trade end-user segment. Moreover, the increase in exploration and production activities is expected to drive the growth of the oil and gas, mining, and quarrying segment. For instance, Indonesia aims to increase its crude oil lifting to 1 million bpd by 2030 and boost efforts to attract investment.
Understand The Key Trends Shaping This Market
Download Sample
Growing demand for trucking services is supported by rising e-commerce sales and infrastructure development in the industry
- Indonesia is the leader in the ASEAN region in terms of trade volumes. In June 2023, DHL Express expanded its electric fleet in Indonesia with 24 electric transporter vans. The new electric delivery vans will be used in the capital, Jakarta and Bandung. The delivery fleet will also be electrified beyond this. The 24 electric transporters will not be the first electric vehicles in the logistics company's Indonesian fleet. So far, DHL Express has four electric vans and six electric bikes in operation in Indonesia, serving areas in Jakarta and Surabaya.
- Thailand holds the second position in the ASEAN region in terms of trade volumes. Thailand offers excellent investment potential as a leading automotive production base in the ASEAN region, a fast-developing region for the automotive manufacturing industry. Over 50 years, the country has developed from an assembler of auto parts and components into a top automotive manufacturing and export hub. With shipments bound for around 100 countries, Thailand is the 13th-largest automotive parts exporter, the sixth-largest commercial vehicle manufacturer globally, and the largest in the ASEAN region.
- Malaysia comes third in the ASEAN region in terms of trade volumes. Malaysia's transport infrastructure and logistics services will be further strengthened under the 12th Malaysia Plan (12MP) during 2021-2025. Under the plan, as part of efforts to drive the transport and logistics industry toward competitiveness, the government aims to be in the top 10 rankings of the World Container Port's Report and top 30 ranks in the World Bank Logistics Performance Index by 2025. Putrajaya (a city in Malaysia) is aiming for a 10% increase in cargo volume via rail in the northern, central, and southern regions of the country.
