The report titled “Vietnam
Freight Forwarding Market Outlook to 2022 – By Normal and Express Delivery; By Sea, Road, Air and Rail Freight and
By International and Domestic Freight Forwarding” provides a comprehensive analysis of freight
forwarding services in Vietnam. The report focuses on overall market size for freight
forwarding in Vietnam, market segmentation by normal and
express delivery, by freight movement (sea freight, road freight, air freight
and rail freight), by international and domestic freight forwarding and by flow
corridors (Asia Countries, European Countries, American and African Countries).
The report also covers the overall competitive landscape and government role
and regulations. The report concludes with market projection and analyst
recommendations highlighting the major opportunities and cautions for overall
Vietnam freight forwarding market.
Vietnam Freight Forwarding Market Overview and Size
The
growth of freight forwarding in Vietnam was supported by development in major
industries such as manufacturing, retail, wholesale, construction, agriculture
and mining. The freight forwarding industry in Vietnam was evaluated at USD ~ billion
in terms of revenue contribution in 2011. The market witnessed an increase to
USD ~ billion in 2012, thus growing at ~% in comparison with previous year. Expanding
FMCG sector, retail sector, food and E-commerce industry in the country has
attributed to the extraordinary growth of the freight forwarding industry in the
country. The market generated revenues worth USD ~ billion in the year 2017,
thus growing at a six year CAGR of ~% in the review period 2011-2017. The Government’s
direction on improving the sectors including infrastructure development, the
restructuring of the air freight market by the year 2020 will see the
development of the cargo transport market via air and growth in the role of air
freight, particularly in key economic zones as well as the remote areas.
Vietnam Freight Forwarding Market Segmentation
By Normal and Express Delivery
The
normal / standard delivery segment dominated Vietnam freight forwarding market
with a massive revenue share of ~%, whereas the remaining revenue share of ~%
was captured by the express delivery segment in the year 2017. Normal delivery
services are generally preferred where there is no urgent requirement for
ordered goods. In Vietnam, majority of the customers prefer the cheapest form
of shipping and are witnessed to wait for longer durations. Major companies operating
into normal delivery include Damco, Geods, DB Schenker, Kuehne+Nagel and
others.
By Freight Movement
The
sea freight segment dominated Vietnam freight forwarding market by capturing
revenue share of ~% in the year 2017 majorly due to increasing trade activities
amongst the Southeast Asian countries. Port of Haiphong is the leading seaport
of northern Vietnam and is scheduled to handle ships of up to ~ DWT, thereby offering
services such as cargo handling, tallying and warehousing. Some of the other
leading seaports include Da Nang port and Saigon port. The road freight segment
followed sea freight services in Vietnam freight forwarding market with a
revenue share of ~% in the year 2017 owing to a larger fleet of vehicles and a
national network of strategically located warehouses and distribution centers.
The remaining ~% revenue share was captured by air freight and rail freight
segments collectively in 2017.
By International and Domestic Freight Forwarding
International
freight forwarding accounted for majority of the revenues for overall Vietnam
freight forwarding market by capturing massive revenue share of ~% in the year
2017. Free trade agreements with other nations over the period 2010-2017 have
provided significant boost to international freight forwarding sector in
Vietnam. On the other hand, the domestic freight forwarding segment was
observed to capture the remaining ~% revenue share in 2017.
By Flow Corridors
Asia
flow corridor was observed to be the largest contributor in terms of revenue in
Vietnam freight forwarding market by capturing revenue share of ~% in the year
2017. In accordance with International Trade Centre, Vietnam’s import to Asia
as well as export from Asia was recorded as USD ~ thousand and USD ~ thousand
as of 2015 in comparison with other regions such as Europe, America and Africa.
The Vietnam-Europe flow corridor followed Vietnam-Asia with a revenue share of ~%
in the year 2017. Other major flow corridor includes the Africa region which
has been counted as emerging trading partners for Vietnam.
Comparative Landscape in Vietnam Freight Forwarding Market
The
freight forwarding industry in Vietnam was observed as highly fragmented with
the presence of both domestic as well international freight forwarders in the
country. In accordance with the Vietnam Freight Forwarders Association
(VIFFAS), there are approximately ~ freight forwarders in Vietnam as of 2013,
most of which constitute small and medium sized enterprises with limited
capital, well-equipped facilities and a respectable number of warehouses. On
the basis of revenue, major freight forwarding companies amongst the air
freight segment are ranked in the following order - DHL, UPS, Expeditors, Panalpina,
Kintetsu, APLL, Hellmann, UTI and Kuehne Nagel. Other freight forwarders
focusing on ocean freight / contract logistics / warehousing services include
Ceva, Bollore, DB Schenker and others. The US and EU market was witnessed to majorly
contribute towards Vietnam freight forwarding market.
Vietnam Freight Forwarding Market Future Outlook and
Projections
Over
the forecasted period, Vietnam freight forwarding market is expected to
generate revenues worth USD ~ billion by the year ending 2018, driven by
expanding industrial activities, growing E-commerce industry and continuous
investment by the government in development of logistics infrastructure in
Vietnam. In terms of revenue
recognition, Vietnam freight forwarding market is estimated to see a positive
trend owing to expanding industrial activities in the country, thus evaluated
at USD ~ billion by the year ending 2022.
Key
Topics Covered in the Report:
Freight Forwarding Market in Vietnam
Vietnam Freight Forwarding Market
Freight Forwarding Businesses in Vietnam
Vietnam
Freight Forwarding Association
Vietnam
Cargo Handling Market
Freight
Consolidation Market Vietnam
Inland
Transportation Market Vietnam
Vietnam
Freight Industry
Vietnam
Freight Movement
Flow
Corridor Freight Vietnam
Throughput
Freight Movement Vietnam
Transport Infrastructure in Vietnam
Road Transportation in Vietnam
Sea Freight Market in Vietnam
Air Freight Industry Vietnam
Rail Freight Market Vietnam
Vietnam Freight Forwarding Market Size
Freight Forwarding Services in Vietnam
Freight Forwarding Services in Hanoi
Freight Forwarding Services in Ho Chi Minh City
Freight Forwarding Services in Da Nang
Normal and Express Delivery in Vietnam
Major Flow Corridors in Vietnam Freight
Vietnam Cross Border Freight
Number of Freight Forwarders Vietnam
List of Freight Forwarders in Vietnam
Shipping Fleet of Major Vietnam Seaports
Cargo Output through Vietnam Seaports
Major Players Vietnam Freight Forwarding
Government Regulations Vietnam Logistics
Freight Forwarding Future Outlook Vietnam
Recommendations
Vietnam Freight
Recommendations
Vietnam Transport Infrastructure
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
