Hungary Third Party Logistics (3PL) Market Size

Hungary 3PL Market Analysis

The Hungary Third Party Logistics Market size is estimated at USD 2.38 billion in 2024, and is expected to reach USD 2.91 billion by 2029, growing at a CAGR of 4.08% during the forecast period (2024-2029).

• The COVID-19 epidemic directly impacted companies involved in the flow, storage, and transfer of commodities. Logistics companies enabled trade and commerce and assisted companies in getting their products to clients as an essential component of value chains both domestically and beyond international borders. Hence, supply chain interruptions caused by the pandemic affected the sector's competitiveness, economic expansion, and job creation.
• The Hungarian logistics market comprises one of the largest third-party providers offering sophisticated services, consistent flexibility, complete reliability, highly competitive prices, and stable and constant growth.
• The future of goods traffic in the Hungarian market is auspicious in terms of transportation logistics. Throughout the past fifteen years, Hungary's road network has seen significant growth, and more recently, work has begun on developing and modernizing the country's railway lines. While rail transportation is either stagnant or hardly increasing, the amount of commodities delivered by road is rising steadily.
• The ability to convert to cleaner, more energy-efficient means of transportation will be improved. New technologies were helped to proliferate by digitalization. Fast, automated handling and classification of commodities became possible because of containerization. Systems for tracking products at the levels of goods, cargo, and modes of transportation are needed for these new solutions.
• Hungary will take advantage of its advantageous geographic location and function as a link between the west and east of Europe to become the logistical service center of the region thanks to the advancements and investments of recent years. Decentralization of the country's geography and advances in technology and infrastructure enable it to fulfill future logistical demands.
• The growth in the market is expected to be driven by the increasing demand for services at industrial parks and logistics center supply chain management. With a unique central position in Europe, the country is possed by four Pan-European Transport Corridors (TEN-T), the relatively low price level in the logistics market, and substantial modern warehouse capacity in the surrounding hospital is becoming a regional distribution center of industries like automobile and pharmaceutical.