Market Size of thailand freight and logistics Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2030 |
|
Market Size (2024) | USD 50.16 Billion |
|
|
Market Size (2030) | USD 72.19 Billion |
|
Largest Share by Logistics Function | Freight Transport |
|
|
CAGR (2024 - 2030) | 6.26 % |
|
|
Fastest Growing by Logistics Function | Courier, Express, and Parcel (CEP) |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
Thailand Freight and Logistics Market Analysis
The Thailand Freight and Logistics Market size is estimated at 50.16 billion USD in 2024, and is expected to reach 72.19 billion USD by 2030, growing at a CAGR of 6.26% during the forecast period (2024-2030).
50.16 Billion
Market Size in 2024 (USD)
72.19 Billion
Market Size in 2030 (USD)
3.83 %
CAGR (2017-2023)
6.26 %
CAGR (2024-2030)
Fastest Growing Market by Mode of Transport
7.97 %
Projected CAGR, Air, 2024-2030
In 2023, the Thai Government initiated the USD 8.8 billion Eastern Aviation City project. Spanning an expansive 1,040 hectares, the project is set to redefine the region's aviation landscape.
Largest CEP Market by Destination
65.06 %
value share, Domestic, 2023
E-commerce has been a major driver for the growth of the domestic segment of the CEP market. In 2023, the e-commerce market was valued at USD 16.41 billion, up from USD 15.36 billion in 2022.
Largest Market by End User Industry
40.08 %
value share, Wholesale and Retail Trade, 2023
The end-user industry is being propelled by the surge in e-commerce. The e-commerce market rebounded with a 6.83% YoY growth in 2023, following a decline of 0.96% YoY in 2022.
Largest Warehousing Market by Temperature Control
92.15 %
value share, Non-Temperature Controlled, 2023
The continued boom in e-commerce, coupled with the structural shift toward omnichannel strategies is leading to a growing demand for non-temperature-controlled warehousing space.
Fastest Growing Warehousing Market by Temperature Control
6.01 %
Projected CAGR, Temperature Controlled, 2024-2030
The OTC pharmaceuticals sector is projected to register a CAGR of 5.93% during 2024-2028, which is expected to drive the demand for temperature-controlled warehouses.
Rising GDP contribution of the transport sector increases investment opportunities in the freight market
- In 2023, the Thai government initiated the Eastern Aviation City project worth THB 290 billion (USD 8.8 billion). This involves the transformation of U-Tapao Airport, a facility dating back to the Vietnam War in Rayong, into a global aviation hub. The upgraded airport will be linked to Don Muang Airport and Suvarnabhumi Airport. Spanning 1,040 hectares, the project encompasses the construction of a new terminal and the establishment of a cargo-free trade zone.
- Thailand is advancing its transportation and logistics landscape, positioning itself as the ASEAN's transportation nucleus. The country's increasing urbanization has spurred a demand for transportation enhancements. As of 2021, Thailand's national infrastructure development program allocated USD 25.2 billion across 36 projects. These projects encompass a wide spectrum, ranging from rail and road upgrades to public transport enhancements, airport expansions, and seaport developments across the nation. Notable initiatives include the U-Tapao airport overhaul, upgrades to Sattahip, Laem Chabang, and Map Ta Phut seaports, the implementation of high-speed and double-track railways, and the expansion of Bangkok's public transport network.
- Thailand aims to convert about 30% of its annual production of 2.5 million vehicles into EVs by 2030 and is preparing incentives to encourage more investment and conversion into EV manufacturing. Thailand plans to provide incentives and tax breaks for manufacturers setting up electric vehicle R&D centers as it seeks to build on early success as a regional EV frontrunner. Various Chinese automobile manufacturers have committed to invest USD 1.44 billion in new production facilities in Thailand, with BYD investing nearly USD 500 million to produce 150,000 EVs a year.
Understand The Key Trends Shaping This Market
