Asia Pacific Freight and Logistics Market Size

Statistics for the 2023 & 2024 Asia Pacific Freight and Logistics market size, created by Mordor Intelligence™ Industry Reports. Asia Pacific Freight and Logistics size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of asia pacific freight and logistics Industry

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Asia Pacific Freight and Logistics Market Summary
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Icons Lable Value
https://s3.mordorintelligence.com/study%20period/1629296433432_test~study_period_study_period.svg Study Period 2017 - 2029
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2024) USD 3.55 Trillion
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg Market Size (2029) USD 4.56 Trillion
https://s3.mordorintelligence.com/hydraulic_fluids/1629285650767_test~hydraulic_fluids_hydraulic_fluids.svg Largest Share by Logistics Function Freight Transport
https://s3.mordorintelligence.com/cagr/1629296433433_test~cagr_cagr.svg CAGR (2024 - 2029) 5.13 %
https://s3.mordorintelligence.com/globe/1629285706162_test~globe_globe.svg Largest Share by Country China

Major Players

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*Disclaimer: Major Players sorted in no particular order

Key Players

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Asia Pacific Freight and Logistics Market Analysis

The Asia Pacific Freight and Logistics Market size is estimated at USD 3.55 trillion in 2024, and is expected to reach USD 4.56 trillion by 2029, growing at a CAGR of 5.13% during the forecast period (2024-2029).

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3.55 Trillion

Market Size in 2024 (USD)

4.56 Trillion

Market Size in 2029 (USD)

5.04 %

CAGR (2017-2023)

5.13 %

CAGR (2024-2029)

Fastest Growing Segment by Mode of Transport

5.74 %

Projected CAGR, Air , 2023-2029

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Major airports based on volumes in China included Beijing Capital International Airport with 8,172,257.62 tons of cargo volume handled in 2021.

Largest CEP Segment by Destination Type

67.40 %

value share, Domestic , 2022

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The domestic segment is dominating due to a boost in retail e-commerce, wherein Asia-Pacific digital sales amounted to USD 2.99 trillion in 2021, of which fashion contributed USD 428 billion.

Largest Country

55.96 %

value share, China , 2022

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China mapped the 14th Five-Year Plan (2021-2025) to enhance transportation and logistics. Also, from January to August 2022, investments in transportation increased by 6.6% YoY.

Largest Segment by End User Industry

32.18 %

value share, Manufacturing , 2022

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The manufacturing end-user segment recorded growth in 2022, led in part by Chinese carmakers producing 27.02 million units in 2022, up by 3.40% YoY.

Fastest Growing Warehousing Segment by Temperature Control

6.76 %

Projected CAGR, Temperature Controlled , 2023-2029

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The pharmaceutical industry is driving demand for temperature-controlled warehouses. In 2021, the OTC pharmaceuticals market in Asia generated approximately USD 46.38 billion.

Asian development bank assisting the infrastructure development in the country, boosting freight transport demand

  • The COVID-19 pandemic significantly impacted the Asia-Pacific construction sector in 2020. Despite its negative impact, the construction sector resumed its activities by Q4 2020. In 2021, the transport infrastructure construction industry began to recover from the pandemic's impact. Economic activity in China resumed after weeks of lockdowns, and infrastructure work resumed as an early sign of recovery. In 2021, the revenue of major players like China State Construction Engineering Corporation and China Railway Construction Corporation was USD 253.7 billion and 142.5 billion, respectively.
  • The Asian Development Bank (ADB) is assisting Pacific DMCs with their connectivity infrastructure planning, construction, and maintenance operations. Transport projects contribute more than 59% of ADB's Pacific portfolio's overall value. The ADB's support for the transportation sector is helping bridge gaps in the Pacific area, resulting in more profitable, stable, and long-term growth. The ADB's transport investments in the Pacific are expected to reach over USD 1.6 billion, including USD 115 million in co-financing, for 22 projects during 2022–2024.
  • A total of 36 equity offering deals (pending and completed) were announced in the Asia-Pacific transportation, infrastructure, and logistics sectors in the last twelve months (LTM) leading up to June 2022, resulting in a total deal value of over USD 13,046.6 million. In the LTM period, June 2021 turned out to be the most prolific in terms of deal size, with a total deal value of USD 4,609.7 million, resulting in an average deal value of USD 1,152.4 million during that month. On the other hand, the month of August 2021 registered the highest deal volume, with a total of nine deals and an average deal value of USD 255.4 million.
Asia Pacific Freight and Logistics Market

Building a sustainable and resilient freight and logistics sector

  • The freight and logistics market in Asia-Pacific is mainly driven by China, India, and Japan, along with Australia. Road freight is a significant mode of freight transportation. Road logistics in India is anticipating a YoY growth of 7.46% in 2023. Air freight in the region witnessed a decline of 10.7% YoY in September 2022, impacted by the Ukraine-Russia conflict, labor shortages, and lower levels of trade and manufacturing activity due to Omicron-related restrictions in China. However, the available capacity in the region increased by 2.8% YoY in 2022. With the aim of decarbonizing freight transport, the region is working toward the modal shift to rail. China-Europe rail freight volumes increased by 8% YoY in September 2022.
  • With approximately USD 3.9 trillion in size, the logistics market in the Asia-Pacific region is the largest one globally. Driven by increasing demand from the manufacturing sector and the expected resumption in space take-up by the e-commerce sector, India is likely to lead the creation of warehousing in the Asia-Pacific region in 2023 by adding up to 30 million square feet of space, representing over a third of the total logistics space of 86 million square feet in the region. It is anticipated that Australia will lead the rental growth at an expected 12% during 2023. Digital sales amounted to nearly USD 2.992 trillion in 2021 in the region, driving the warehouse demand.
  • Driven by a shortage of new supply, outdated existing facilities, and rapidly changing consumer demands created by increased online retail, investments in cold storage properties in the Asia-Pacific is likely to reach USD 5 billion per year by 2032 due to robust demand in cold chain warehousing in the region.

Asia Pacific Freight and Logistics Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029