Market Size of vietnam road freight transport Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 24.58 Billion |
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Market Size (2030) | USD 35.83 Billion |
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Largest Share by End User Industry | Manufacturing |
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CAGR (2024 - 2030) | 6.48 % |
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Fastest Growing by End User Industry | Wholesale and Retail Trade |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Vietnam Road Freight Transport Market Analysis
The Vietnam Road Freight Transport Market size is estimated at 24.58 billion USD in 2024, and is expected to reach 35.83 billion USD by 2030, growing at a CAGR of 6.48% during the forecast period (2024-2030).
24.58 Billion
Market Size in 2024 (USD)
35.83 Billion
Market Size in 2030 (USD)
5.01 %
CAGR (2017-2023)
6.48 %
CAGR (2024-2030)
Largest Market by Distance
73.19 %
value share, Long Haul, 2023
The demand for long-haul trucking remained high during the review period, supported by a total road length of approximately 648,984 km, of which 493 thousand km is paved.
Largest Market by Goods Configuration
66.17 %
value share, Solid Goods, 2023
The solid goods segment dominates the market as the large majority of commodities are transported. This also significantly contributes to the value-added output of the country.
Largest Market by End User Industry
38.86 %
value share, Manufacturing, 2023
Vietnam is attracting a substantial amount of FDI in the manufacturing sector, including electronics, textiles, and automotive. The manufacturing destinations are spread across 54 provinces and cities.
Fastest Growing Market by Truckload Specification
7.26 %
Projected CAGR, Less than-Truck-Load (LTL), 2024-2030
Infrastructural development plays an important role in the growth of the LTL segment. The length of roads also increased from 644,473 km in 2021 to 648,984 km in 2022.
First Leading Market Player
0.55 %
market share, PetroVietnam Transport Corporation, 2022
PVTrans provides transportation services for PVOil and its branches, with an average total volume of 1.8 to 2 million cubic meters annually.
The e-commerce market in Vietnam is expected to grow at a CAGR of 12.38% during 2023-27, driving the growth of the market
- In 2023 Vietnam accounted for the highest shipment value for the apparel, footwear, and textiles sector at USD 19.14 million, which drove the demand for road freight services. Moreover, Vietnam’s industrial production index (IIP) in 2022 went up by 7.8% YoY, with a growth of 6.8% recorded in Q1, 9.8% in Q2, 10.9% in Q3, and 3% in Q4. Some of the sectors with impressive growth in 2022 were beverage with 32.3% YoY (beer 35.3%), followed by medicine, pharmaceutical chemistry and herbs (19.2%), machinery production (19.1%), and wood and wooden products (17.2%).
- One of the factors for the growth of the wholesale and retail trade end-user segment was the increase in retail sales. The retail sales of consumer goods and services in Vietnam reached USD 242 billion in 2022, showing a surge of 19.8% compared to the same period in the previous year. This was also a 15% increase from 2019. Domestic and foreign retailers sped up their businesses in 2022, with post-pandemic plans to further tap the country’s growing middle class, creating a booming year for the industry.
- The Vietnamese retail market is experiencing remarkable growth, providing substantial opportunities for international retail brands to expand. Moreover, the e-commerce market in Vietnam is expected to register a CAGR of 12.38% during the period 2023-2027 and reach USD 19.3 billion by 2027. As a result, the demand for road freight services is anticipated to increase in the country. In addition, the government plans to construct 1.8 million affordable houses by 2030, which is expected to support the growth of the market further.
Understand The Key Trends Shaping This Market
