Market Research Report
Thailand Road Freight Transport Market - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||704931|
|Published||Content info||127 Pages
Delivery time: 2-3 business days
|Thailand Road Freight Transport Market - Growth, Trends, and Forecast (2018 - 2023)|
|Published: August 1, 2018||Content info: 127 Pages||
The Thailand road freight transport market is expected to grow due to developing economic conditions in Thailand. In the last four decades, Thailand has attained outstanding progress in social and economic growth, moving from a low-income nation to an upper-income nation in less than a generation. When average growth slowdown to 3.5% during 2005-2015, with a dip to 2.3% in 2014-2016, Thailand is now on the path to recovery. Economic growth reached 3.9% in 2017 - the best growth performance since 2012 and is expected to expand further to 4.1% in 2018. Integration of new technologies like refrigeration and IoT technology by trucking industry is another factor driving the growth of the road freight market in Thailand. The steady development of air, water and rail freight is a restraining factor to the growth of road freight transport market.
Domestic Segment Expected to Boost the Market Growth
The Thailand domestic road freight market is expected to experience high growth due to increasing e-commerce market in the south-east country. Thailand e-commerce market revenue is amounted to USD 3,648 million in 2018 and is expected to grow at a high rate of 13.3%. A large number of the user base in Thailand and increasing disposable income in the country are the major reasons for the growth of the e-commerce market. Thus the domestic road freight segment is expected to witness a high growth in the country. The Thai Government is investing to improve the transport infrastructure across the country with the development of economic corridors and highways. Thailand ministry proposed the development of new Inland Container Depot (ICD) to support the development of Eastern Economic Corridors (EEC). Considering the government initiatives, the domestic segment is expected to grow in the forecasted period and boost the market growth.
Jan 2018: CEVA Logistics expands warehousing contract with Colgate-Palmolive. Under the new three -year deal, Ceva will manage over 140,000 ft² of warehousing space with around 14,000 pallet positions to offer distribution and cross border transportation services to customers in Thailand and Singapore.
Mar 2018: DHL and Thailand Post launch e-commerce partnership. With support from DHL Express, Thailand Post customers using Courier Post will have delivery within two to four days, with access to over 220 countries and territories, customs clearance expertise at destination and the On Demand Delivery (ODD) solution.
Major Players: Some of the major players include DHL Group, Agility Thailand, Kerry Group, CEVA Logistics (Thailand) Co., Ltd., and Schenker (Thai) Co., Ltd. among others.
Thailand Road Freight Transport Market Report Summary
Thailand Road Freight Transport Market
(2014 - 2023)
Market Size in 2017
Provided in the full Report
Market Size in 2023
Over USD 31 billion
Provided in the full Report
Largest Market Share
Domestic segment accounts for major share of the market
CEVA Logistics expands warehousing contract with Colgate-Palmolive.
DHL and Thailand Post launched an e-commerce partnership.
DHL Group, Agility Thailand, Kerry Group, CEVA Logistics (Thailand) Co., Ltd., and Schenker (Thai) Co., Ltd. among others
Latest trends in the Thailand Road Freight Transport Industry, growth prospects, industry competitiveness, major players, value/supply chain, regional market share and forecast to 2023.
Reasons to Purchase the Report
To study current and future market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter's five forces analysis
Detailed analysis of the segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet in excel
Report Customization and Benefits
This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs.
5. 1 MARKET COMPETITION OVERVIEW