Vietnam Freight And Logistics Market To Witness The Highest Growth Globally In Coming Years 2021-2025

The Market Insights Reports has added a new statistical data to its repository titled as, Vietnam Freight And Logistics Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.

The Vietnam Freight and Logistics Market are estimated to grow at a CAGR of approximately 13% during the forecast period.

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Top Key Players in the Vietnam Freight And Logistics Market are Viettel Logistics Co. Ltd, Hai Minh Corp., Saigon Cargo Service Corporation (SCSC), Tan Cang Logistics & Stevedoring JSC, Vietrans Saigon Logistics, PetroVietnam Transportation Corp., Vietnam Transport & Chartering Corporation, Indo Trans Logistics Corporation, Vinatrans, Gemadept Corporation/Gemadept Logistics, Transimex Corp., Agility Logistics Pvt. Ltd, and others. 

The logistics market landscape of Vietnam is highly fragmented in nature and most of the players are small- and medium-sized firms providing low-value-added logistics services. There are more than 3,000 logistics companies, and 90% of them have a registered capital of less than VND 10 billion. Only 5% of these have a capital in the range of VND 10-20 billion, while the remaining have more than VND 20 billion. The competition between the domestic logistic companies is fierce, and the Vietnamese freight and logistics market is dominated by foreign companies. Even though the foreign logistics firms account for less share of transportation volume, these take 70%-80% of the revenue of the logistics market. This highly fragmented nature is also limiting the logistics potential of Vietnam up to some extent.

Key Market Trends:

The country is aiming to become maritime powerhouse with the growing maritime sector

With a coastline of 3,260 kilometers and a number of rivers flowing the country, Vietnam holds a lot of potential for maritime freight transport. In 2018, the seaports of Vietnam handled 524.7 million metric tons of cargo, 19% more than that in 2017. The country has 1,593 ships, with a total capacity of about 7.8 million DWT as of December 2018, ranking fourth in ASEAN and 30th globally. Additionally, Vietnam has 272 wharfs with an accumulated annual capacity exceeding 550 million metric tons. There are around 1,300 businesses in the country providing maritime businesses; however, they fulfill only a portion of the market demand. The maritime sector of the country needs investments, and as it grows, the sector is likely to have a profound impact on the economy.

The Vietnamese government plans to make Vietnam a powerful maritime country by 2030. It aims to increase the maritime sector contribution to GDP to 10%. Further, the government aims to increase the contribution of the 28 coastal cities and provinces to the Vietnamese economy to 65% – 70%, which was around 60% in 2017. The country aims to increase the throughput to 640 to 680 million metric ton, per year, by 2020, and 1,040 to 1,160 metric tons, per year, by 2030. The government is also looking to reduce the dependence on road transport and cut the volume of goods transported on roads.  

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Highlights of TOC:

Market Overview: It starts with product overview and scope of the Vietnam Freight And Logistics market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Freight And Logistics market size analysis for the review period 2015-2025.

Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Freight And Logistics market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.

Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.

Market Dynamics: Readers are provided with a comprehensive analysis of Freight And Logistics market challenges, influence factors, drivers, opportunities, and trends.

Market Forecast: Here, the Freight And Logistics report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.                              

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