Market Size of Turkey Freight and Logistics Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Turkey Freight and Logistics Market Analysis
Turkey freight and logistics market is valued around USD 64 billion in the current year and is anticipated to register a CAGR of more than 4% during the forecast period.
- Due to its unique geostrategic position between Asia and Europe, manufacturing capacity, and logistical infrastructure, Turkey is at the core of economic activity in the region. Many demand drivers, such as economic development, a broad and export-oriented industry base, a robust retail market, and a quickly rising e-commerce sector, contribute to Turkey's logistics potential. By 2053, Turkey expected to invest heavily in expanding its railway and highway networks and building new airports. Between 2003 and 2021, approximately USD 172 billion in investments were made in five sectors, creating 17.9 million jobs. The investments will total USD 198 billion by 2053.
- It is expected that the industrial and logistics sectors, which are currently in recovery, will enter an expansion period with increasing demand and decreasing vacancy rates. With the opening of the Osmangazi Bridge and the establishment of new Organized Industrial Zones (OIZs), it is expected that the Yalova region and the Corlu-Cerkezkoy Buyukkaristiran region, along with the new Kapikule highspeed train project, will become critical industrial locations in the future.
- The last ten years saw almost USD 1.9 billion in foreign investments in the Turkish logistics industry. The growth of Turkey's logistics infrastructure is necessary, given the increasing trade flows between the emerging economies of Asia and Europe. Furthermore, the country has attracted foreign investment in logistics due to its anticipated benefits from China's One Belt One Road initiative.
