Market Research Report
Vietnam Road Freight Transport Market - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||704933|
|Published||Content info||135 Pages
Delivery time: 2-3 business days
|Vietnam Road Freight Transport Market - Growth, Trends, and Forecast (2018 - 2023)|
|Published: August 1, 2018||Content info: 135 Pages||
The Vietnam road freight transport market is expected to grow due to the developing trade infrastructure and the advantage of the geographic location to Vietnam. The ASEAN integration has helped the country improve its relations with neighboring countries and initiate bilateral free trade agreements boosting the Vietnamese economy. The logistics industry is one of the fastest growing industries in Vietnam. The road haulage sector is expected to outperform every other means of haulage over the next several years. Road haulage is expected to benefit extensively from the ongoing development of Vietnam, as a regional manufacturing hub. Road transport currently plays an important role in Vietnam, serving about 76.52% of all freight transport.
Vietnam's Growing Economy boosting the market
The Vietnam economy is expected to be a regional outperformer during the forecasted year which will boost freight sector growth over the next years. The Vietnam government has allowed foreign direct investments in the countries logistics industry. Adding to it is the increasing free trade agreements Vietnam is making with ASEAN countries like Cambodia, Laos, China, and Singapore among others. The gradually developing logistics infrastructure has been a major driver for the Vietnam road freight transport market. The boosting economy has attracted the major player from around the world to Vietnam due to its strong potential to become one of the top e-commerce markets in Southeast Asia.
Sep 2018: Gemadept Logistics (GLC) officially launched Nam Hai Distribution Center with the scale of over 10,000 sqm with the first customer is Yara (a leading company in the world on fertilizer production and trade, based in Norway) in Hai Phong city. This is one of the modern Distribution Center in the North of Gemadept Logistics, marking the strong development of GLC in this area.
Oct 2017: Vietnam Allows Foreign Investors to Establish Logistics Firms. Following Decree No.163/ND-CP, foreign investors will now be allowed to set up logistics services companies from February 20, 2018, in Vietnam. The establishment of new companies will be subjected to conditions on ownership and services. The services under the decree have been divided into 16 types such as cargo handling services, container warehousing services, and cargo agency services.
Vietnam Road Freight Transport Market Report Summary
Vietnam Road Freight Transport Market
(2014 - 2023)
Market Size in 2017
Provided in the full report
Market Size in 2023
Over USD XX.XX billion
Provided in the full report
Largest Market Share
International segment accounts for major share of the market
Gemadept Logistics (GLC) officially launched Nam Hai Distribution Center with the scale of over 10,000 sqm
Vietnam Allows Foreign Investors to Establish Logistics Firms
DHL Group, Agility Vietnam, Kerry Group, CEVA Logistics (Vietnam) Co., Ltd., Yusen Logistics Co. Ltd, Gemadept Logistics and Schenker (Vietnam) Co., Ltd. among others
Latest trends in the Vietnam 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