LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the logistics market in APAC is expected to grow at a CAGR of more than 7% during the forecast period.
This research report titled ‘Logistics Market in APAC 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The market witnessed a steady growth during the forecast period. China, India, and Japan are the major growth contributors for the market. The demand for the market is growing because of the low trade barrier between regional and global trade, rise in industrial production, and the booming e-commerce market.
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Technavio’s analysts categorize the logistics market in APAC into four major segments by end user. They are:
- Manufacturing industry
- Automobile industry
- Food and beverage industry
- Others
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The top three segments based on end-users for the logistics market in APAC are discussed below:
Logistics market in APAC in the manufacturing industry
The logistics market in APAC in the manufacturing industry was valued at USD 56.94 billion in 2016. The market shows a progressive growth during the forecast period. The demand for the market is coming from the manufacturing industries such as pharma, healthcare, and telecommunications.
According to Sharan Raj, a lead logistics research analyst from Technavio, “The medical product sales in APAC is expected to increase at a rate of around 5.6% annually. The growth is due to the expansion of many established drug makers in APAC, considering the market opportunities in APAC countries, especially in Myanmar and Vietnam.”
Logistics market in APAC in the automobile industry
The automobile demand in APAC is growing in phases along with the fuel price. The rise in fuel price can decrease the demand for an automobile, which, in turn, will affect the growth phase of automobile logistics. Japan is the major market for automobile manufacturing. It is one among the top three auto manufacturing countries in the world. Japan is also known for its automotive components manufacturing.
“The automotive components and vehicles account for around 19% of the overall manufacturing shipment in Japan. This makes many auto logistics players focus on the APAC market. Kintetsu World Express and Sojitz Logistics are the prominent auto logistics players in APAC,” says Sharan.
Logistics market in APAC in the food and beverage industry
The food and beverage industry in APAC is an influential global market, as it held around 40% of the global food and beverage supply in 2016. Increased consumer spending, the rise in youth population, and growing urbanization are the stimulating factors for the growth in the food and beverage industry in APAC.
India, Indonesia, Pakistan, and Vietnam are the major countries that focus on the growth of the food and beverage industry. The increase in food and beverage products will influence the demand for logistics operation. As most food items are perishable in nature, the demand for cold warehouse or cold storage is expected to increase in the countries mentioned above.
The top vendors highlighted by Technavio’s research analysts in this report are:
- C.H. Robinson
- DB Schenker
- Deutsche Post DHL Group
- Kuehne + Nagel
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