Vietnam Freight Forwarding Market report focuses on overall market size for freight forwarding in Vietnam, market segmentation by normal and express delivery, by freight movement, by international and domestic freight forwarding and by flow corridors. For more information on the research report visit https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/vietnam-freight-forwarding-market/145654-100.html
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