Market Size of APAC Contract Logistics Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 259.64 Billion |
| Market Size (2029) | USD 335.32 Billion |
| CAGR (2024 - 2029) | 5.25 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Contract Logistics Market Analysis
The APAC Contract Logistics Market size is estimated at USD 259.64 billion in 2024, and is expected to reach USD 335.32 billion by 2029, growing at a CAGR of 5.25% during the forecast period (2024-2029).
The region’s ability to weather the storm of economic instability strengthens its position as a preferred destination for investors and companies looking for more stability. By enhancing regional economic integration and providing access to a larger market, the ASEAN-led Regional Comprehensive Economic Partnership (RCEP) Agreement, which took effect in January 2022, would help the ASEAN countries recover from the recent epidemic while also spurring economic growth.
- Asia-Pacific is the area that is gaining ground the fastest in this market due to its quick economic development and thriving business climate. Europe has been eclipsed by Asia-Pacific to take the top spot in the global market for contract logistics. The region's growth is being fueled by a combination of robust economic expansion, rising retail enactment, and rising disposable income.
- For the seventh year in a row, China held the title of largest logistics market in the world in 2022 generating a revenue of CNY 12.7 trillion (about USD 1.83 trillion) from the country's logistics industry. The country's infrastructure is being developed with significant funding from the Chinese government. China will soon become the global leader in the logistics and transportation sectors thanks to the Belt and Road Initiative's execution. 5.2% and 5.3%, respectively, of the region's GDP growth in emerging Asia in 2022 and 2023.
- However, the rate of recovery differs amongst subregions. But, domestic demand in economies that are still catching up to their pre-pandemic trend, particularly in South Asia, supports regional growth. Growth in South Asia remained robust in 2022 at 7.0% before soaring to 7.4% in 2023. The growth rates in East Asia are normalized to 4.7% in 2022 and 4.5% in 2023, practically returning to their pre-pandemic pattern in 2021.
