Thailand Freight Forwarding Market is expected to reach around THB 1.4 Trillion by the year ending 2022: Ken Research

• The military government in Thailand aims to position the country as the gateway to ASEAN and in order to do so it has announced its will to support the logistics sector by strengthening the infrastructure and implementing trade friendly policies.
• 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.

Thailand has signed multiple free trade agreements (FTAs) with large economies like China, USA, India and others. The country as a WTO member since 1995 has been open to foreign firms operating and manufacturing from the Thailand thus helping it to have a trade surplus over the years. Thailand’s agreements with the ASEAN community have led to an increase in cross-border freight transportation via roadways and ports without any major limitations. Some of the major export products include textiles and footwear; fishery products, rubber, jewellery, cars, computers, electrical appliances and others. Thailand’s central region is one of the ideal locations for Thailand’s exports and imports and is expected to be in forefront in ocean and road freight forwarding industry.

Roadways has gained attraction in Thailand due to its superior road network, thus becoming the first preference for moving freight within the country with a vast presence of local freight forwarders coupled with trucking fleet operators. The government of Thailand’s emphasis on expanding and upgrading the railway network in the country with a focus on the double track railways has attracted close to THB 500 billion of fund allocation under the Thailand Transport Infrastructure Strategies 2022. The government has laid special focus in ensuring that the countries land borders are seamlessly connected to the ASEAN network and the country has a good access to the Chinese and Indian market which will further help to strengthen the country’s trade relations.
Additionally, the development of sea port infrastructure will support increasing cargo volumes throughout the large ports and free zones in the coming years with an improvement in port capacity and connectivity.

Analysts at Ken Research in their latest publication “Thailand Freight Forwarding Market Outlook to 2022 – By Freight Movement (Sea, Road, Air and Rail Freight); By Normal and Express Delivery; By International and Domestic Freight; By International Flow Corridors and By Third Party Logistics” believe that increasing the number of channel points, strengthening infrastructure connections, improving service quality in terms of training the personnel and promoting railways for freight transportation will have a positive impact on market.

Thailand freight forwarding market is expected to register a positive CAGR of 4.8% during the forecast period 2017-2022. The market is further expected to be driven by the growing demand due to picking up of the global markets including China, 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/thailand-freight-forwarding-market-outlook-2022/156566-100.html

Key Segments Covered
By Freight Movement
• Pipelines
• Railways
• Road
• Sea
• Air
• Transportation Services and Postal services & communications
By Delivery:
• Normal
• Express
By Freight Forwarding
• International
• Domestic
By Flow Corridors
• Asian Countries
• NAFTA Countries
• European Countries and Others
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

Time Period Captured in the Report:
2012-2017 – Historical Period
2018-2022 – Future Forecast

Companies Covered:
• Damco Thailand
• DHLThailand
• Triple I
• Kerry Logistics Thailand
• NCL Logistics Thailand
• Nippon Express Thailand
• DB Shenker
• WICE Logistics
• SIAM Shipping
• Agility
• Bangkok Freight Forwarders
• Royaltainer
• Axium Shipping

Related Reports:
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https://www.kenresearch.ae/automotive-transportation-and-warehousing/logistics-and-shipping/oman-freight-forwarding-market/149658-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/vietnam-freight-forwarding-market/145654-100.html

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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

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