Statistics for the 2023 & 2024 Australia Freight and Logistics market trends, created by Mordor Intelligence™ Industry Reports. Australia Freight and Logistics trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.
Market Trends of australia freight and logistics Industry
Australia invested USD 120 billion in infrastructure projects, focusing on nation-building and land transport projects
The Australian market encompassing transport, postal, and warehousing displayed growth across key metrics during the fiscal year 2021-22. Earnings within the transport industry division and its income value added (IVA) surged by 14.4% (amounting to USD 4.7 billion) and 15.0% (USD 10.8 billion), respectively. With a workforce of 122,810 individuals recorded by the end of June 2021, the transport support services subdivision accounted for 19.2% of the overall employment within the division, establishing itself as the second-largest employing subcategory after road transport.
In 2022, the declines in division earnings were predominantly driven by a 7.6% decline in the transport support services sub-division, including airport activity. Around 62.7% decline in sales and service income for air and space transport reflected a significant decline in air travel due to COVID-19. Road freight transport is the largest employing sub-sector in the transport and logistics sector, followed by postal and courier pickup and delivery services and road passenger transport, with water transport support services employing the least number of people.
The Australian Government remains resolutely dedicated to a robust 10-year infrastructure pipeline valued at USD 120 billion, focusing on delivering land transport projects that hold national significance and contribute to shaping the nation's future. The 2023-24 budget represents a stride forward in establishing an infrastructure investment pipeline integral to nation-building endeavors. This initiative forms the bedrock for constructing a sustainable and credible lineup of projects, selected based on diverse economic and societal goals, encompassing regional connectivity, quality of life enhancement, and safety enhancement.
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Tightening global oil markets and the weakening Australian dollar led to an increase in fuel prices in Australia
In 2021-2022, diesel prices rose by 40.1%, reaching 176 cents per liter (USD 1.76). Diesel prices tend to follow trends in the global price of crude oil, with oil prices projected to rise sharply in the current year. With global oil consumption recovering following the COVID-19 pandemic, supply concerns led oil prices to rise again due to the Russia-Ukraine conflict in 2022-23, thus increasing retail diesel prices. The federal government implemented a temporary 50% reduction in the fuel excise in March 2022 to help offset rising costs, which ended in September with the fuel excise returning to its full rate, causing motorists to pay more at the pump.
Petrol prices in Australia’s major cities climbed to an average of USD 1.18 per liter in October 2021, the highest since 2014, when adjusted for inflation. While prices plummeted to record lows during the COVID-19 outbreak in 2020, the cost of fuel in Australia has risen steadily since November 2020.
According to the Australian Institute of Petroleum, the average retail price for petrol in Australia hit 196.5 cents (USD 1.96) in August 2023. Since the federal government's halving of the fuel excise ended last September, the national average weekly petrol price has been hovering around 175 to 180 cents a liter (USD 1.75-1.8). The average weekly petrol price in the capital cities sits at 197.5 cents a liter (USD 1.97), with Sydney, Adelaide and Hobart recording an average weekly price of more than USD 2 a liter, while Brisbane had the cheapest average price of 188.2 cents a liter (USD 1.882). Also, the average national price for diesel hit a near eight-month high of 206.9 cents a liter (USD 2.06). Tightening global oil markets and a weakening Australian dollar are responsible for rising petrol prices.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
Australia's population growth slowed due to change in policy; Melbourne dominated with a 19.66% share of the total population in 2022
The growing oil and gas, mining, and quarrying sector in Australia is forecasted to provide a USD 270 billion economic boost by 2040
E-commerce in Australia is expected to register a CAGR of 10.40%, supported by the rise in social commerce and BNPL services
Australian agriculture industry aims to become a USD 100 billion industry by 2030 to boost exports
Rising fuel costs, global supply chain issues, and increasing toll costs lead to an increase in operational costs
Australia's LPI Rank drops to 19 in 2023, with a focus on trade diversification and digital transformation for economic growth
Land transportation accounts for more than 80% of freight transportation in Australia, with railways transporting the majority of bulk goods
Enhancing port connectivity is key to Australian trade with Port of Melbourne, the Port of Sydney, and the Port of Brisbane being top ports
Australian freight rates for all modes witnessed an increase in 2022, owing to the lingering impacts of global congestion during the pandemic
Australian Infrastructure Plan aims to drive economic growth with an investment of USD 237 billion in pipelines
Australia to strengthen the mining sector in lines with its Critical Minerals Strategy 2023–2030
Labour shortage, high freight costs, and rising global crude oil demand increased producer and consumer prices
The Australian government is investing USD 10.18 billion to support Australia's manufacturing industry
Australia is heading toward 100% reliance on fuel imports by 2030, led by a fall in domestic fuel production
The Australian trucking industry is transitioning its fleet to achieve the government's aim of net-zero emissions by 2050
Despite supply chain issues throughout 2022, truck sales in Australia have witnessed a positive growth trend of 7.2%
Government initiatives, capacity expansion investments coupled with increasing sea freight import export are driving growth in the country
Delayed shipments and rapidly increasing freight rates are affecting Australian international container ports and container trade
Road freight demand is leading the industry, followed by rail freight, supported by infrastructure development
Freight & Logistics Market Australia Report Snapshots
Australia Freight and Logistics Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029
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