Press release
Philippines Freight Forwarding Market is Grow at a CAGR of over 8% in the next 5 years till 2023E: Ken Research
• The growth of freight forwarding in Philippines was supported by development in major industries such as manufacturing, retail, wholesale, construction, agriculture and mining.
• Road is by far the most popular medium for moving freight within the country and will continue to grow owing to integration of regional economies.
• The US is one of the largest importers and exporters of Philippines which has resulted in high revenue contribution from North America to the logistics revenue and will continue to remain in near future.
Over the forecast period, the Philippines will witness construction of many new roads and bridges which will aid against the traffic congestion problem in the country and positively affect the trucking industry, hence aiding the domestic logistics. With adequate investments, the dense river network connecting Philippines with neighboring countries could position Philippines as a transit country for Southeast Asia, thereby creating a positive impact on the country’s freight forwarding segment.
The logistics sector is also expected to witness growth with potential entry of global players such as Amazon and Alibaba in the country. It has been further anticipated that the imports and export of the country will increase at a robust pace in the coming years, attributing to increase in the value been generated by the freight forwarding segment. The country was also witnessed to introduce the ‘Philippine Development Plan 2017-2022’ with multiple growth prospects, focusing towards the overall economic growth of the country and aims at making Philippine an upper middle class economy by 2022. Additionally, the plan focuses on adoption of modern technology, innovation, infrastructure development and others which will aid the growth of this industry in upcoming years.
Analysts at Ken Research in their latest publication “Philippines Freight Forwarding Market Outlook to 2023 – By Land, Water and Air Transport; By International and Domestic Freight; By Flow Corridors; By Third Party Logistics; By Express Delivery” believe that increasing the number of channel points, strengthening infrastructure connections, improving service quality and promoting roadways for freight transportation will have a positive impact on market.
Philippines freight forwarding market is expected to register a positive CAGR of 8.6% during the forecast period 2018E-2023E. The market is further expected to be driven by expanding industrial activities, growing consumer preference for online shopping, upcoming infrastructure in the country & continuous investment by the government in development of logistics infrastructure and consistent economic growth.
For more information on the research report, refer to below link:
https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/philippines-freight-forwarding-market/169966-100.html
Key Segments Covered
By Freight Movement
• Road
• Air
• Sea
By Delivery:
• Normal
• Express
By Freight Forwarding
• International
• Domestic
By Flow Corridors
• Asia
• North America
• Europe
• Middle East
By Companies
• International Companies
• Domestic Companies
Key Target Audience
• Shipping Companies
• Freight Forwarders
• Logistics Association
• Express and E-Commerce Logistics Companies
• Consulting service providers
• Private Equity/ VCs/ Investment Banking Companies
Companies Covered:
• LBC Express
• 2Go
• PHL Post
• JRS Express
• Air 21
• DHL
• FedEx
• UPS
• TNT
• Lazada Express
• Shopee
• Jolly B Box
• Forex Cargo
• Afreight
• Chelsea Logistics Holdings Corporation
• International Container Terminal Services Inc.
• Lorenzo Shipping Corporation
• Metro Alliance Holdings and Equity Corp.
• Asian Terminals Inc.
• AAI Worldwide Logistics Inc.
• Kintetsu World Express
• Royal Cargo
Related Reports:
https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/singapore-logistics-warehousing-market/134595-100.html
https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/south-korea-logistics-warehousing-market/136100-100.html
https://www.kenresearch.ae/automotive-transportation-and-warehousing/logistics-and-shipping/indonesia-logistics-warehousing-market/142316-100.html
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India
Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. We provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies.
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