South Korea Logistics & Warehousing Market Outlook to 2021- Increasing Investment Activity and E-Commerce Logistics to Drive Future Growth” which provides a comprehensive analysis of the Logistics & Warehousing market in South Korea. The report covers various aspects such as overall size of South Korea logistics & warehousing, freight forwarding, warehousing, cold chain, 3PL, express market in terms of value, segmentation on the basis of service mix, by geography and by type of industries. The report also covers value chain analysis for logistics & warehousing market, comparative analysis of South Korea logistics market with Asia and global logistics market. The report also covers the competitive landscape of the industry and comprehensive profile of leading and emerging players operating in the market. The report includes future outlook and projections of the South Korea logistics & warehousing market, freight forwarding market, cold chain market, warehousing market, 3PL market and express logistics market.
South Korea Logistics Market Size
In terms of revenue, South Korea logistics industry augmented positively from USD ~ billion during 2011 to USD ~ billion during 2013 at a CAGR of ~% during 2011-2013. The transportation facilities at South Korea have always aided the country’s logistics revenue. South Korea has the 5th largest sea port in the world with the added advantage of being between two of the largest economies in Asia – Japan and China. During 2014-2016, the market witnessed very slow growth, increasing from USD ~ billion during 2014 to USD ~ billion during 2016.
Freight Forwarding Market
The freight forwarding market grew from USD ~ billion during 2011 to USD ~ billion during 2013, at a CAGR of ~% during 2011-2013. Expanding e-commerce, retail, manufacturing and express delivery industries has positively augmented the freight forwarding market in South Korea. The market witnessed a setback as the revenues fell to USD ~ billion during 2014. The logistics industry remained relatively stagnant post 2014 as the industry accounted for same revenues during 2016.
Sea freight movement has majorly dominated the market of logistics in South Korea with a revenue share of ~% during 2016, followed by land freight (~ %) and air freight (~%) during the same year. Majority of the freight movement during this period has been undertaken through the Asia-North America and European Union flow corridor. Major competitors in South Korea freight forwarding market are DHL, DB Schenker, Nippon Express, Ceva Logistics, UPS, Yusen Logistics and others. It has been forecasted that the market will increase at a low CAGR of ~% during 2016-2021 to reach USD ~ billion by 2021.
Express Delivery Market
Express logistics is seen as a premium segment of the logistics industry as it involves time sensitive shipments of goods via multimodal transportation. The market has grown from USD ~ billion during 2011 to ~ billion in 2016. The rising prominence of online shopping, especially by B2C segments and expanding cold chain logistics market has attributed to the increasing demand for express delivery in past few years in South Korea. Air express has dominated the market of South Korea express logistics during 2016. The presence of well planned infrastructure to support air cargo had been the prime reason which has attributed the dominance of air express in the country. In terms of revenues, air express has contributed a share of ~% during 2016 followed by ground express accounting for ~% during the same year.
It has been forecasted that the express delivery market will increase at a CAGR of ~% during 2016-2021 and is envisaged to reach at USD ~ billion in 2021.
Third Party Logistics
Third party logistics market has witnessed a positive growth in the past few years in South Korea. The market grew at a CAGR of ~% during 2011-2016. Third-party logistics (3PL) outsourcing is rapidly gaining prominence as more corporations across the world are unable to manage their complex supply chains and hence are outsourcing logistics activities to the 3PL service providers. On the basis of revenues, the third party logistics market share in the country grew from ~% in 2011 to around ~% of the logistics market during 2016. The growth has been attributed to the growing e-commerce industry in the country. Major competitors in the 3PL market are Hyundai Gls Co. Ltd, DFDS Transport (Korea), Ltd., Ahjin Transportation, DKSH, Zuellig Pharma and others. It has been forecasted that the market will increase at a CAGR of ~% during 2016-2021 to reach at USD ~ billion by 2021.
Warehousing Market
The warehousing sector in South Korea has increased at a CAGR of ~% during the period 2011-2016. Industrial/retail has been the leading segment in the warehousing industry accounting for ~% of the warehousing market revenues during 2016. Small size warehouses (2,000-5,000sqm) have dominated the market accounting for ~% of the total number of warehouses followed by large size (10,000+ sqm) warehouses and medium size warehouses. Companies prefer to construct small size warehouses in multiple locations to avoid high transportation and logistics cost and provide express delivery. By geography, Seoul Metropolitan Area, that incorporates Seoul, Incheon and Gyeonggido; accounted for ~% of the total number of warehouses, during 2016. Seoul is centrally located and well connected to other cities of the country. Major companies in South Korea warehousing market are G&B LOGISTICS CO.,LTD., Daesin International Transport Co Limited, Chun jee Shipping CO.,LTD, Korea Express, Logwin-Logistics and others. It has been anticipated that the market will increase at a CAGR of ~% during 2016-2021 to reach at USD ~ billion during 2021.
Cold Chain Market
South Korea cold chain market was estimated at USD ~ billion during 2016 and has augmented at a compound annual growth rate (CAGR) of ~% during the period 2011-2016.
The cold chain logistics has been largely dominated by cold storage which has contributed the largest share of ~% in the overall cold chain market during 2016. Cold transport has contributed a share of ~% in terms of revenues during 2016.
Vaccines and pharmaceuticals have contributed ~% in terms of revenues in overall market of cold chain during 2016. The second largest contributor is meat & seafood (~%) as they require an uninterrupted cold chain due to their perishable nature. These are followed by fruits & vegetables (~%), bakery & confectionary (~%), chemicals (~%) and others (~%).
Future Aspects of South Korea Logistics Market
South Korea logistics market is expected to increase at a CAGR of ~ during 2016 to 2021 and reach USD ~ billion by 2021. Freight forwarding services will majorly contribute in the overall market of logistics with the share of ~% by 2021. This domination in share of the freight forwarding market will develop further on account of improving trade relations with developed & developing countries and industry expansion in upcoming years. Warehousing industry will contribute a market share of ~ in terms of revenue by 2021.
Key Topics Covered in the Report:
- Logistics Infrastructure in South Korea Logistics Market
- Value Chain Analysis for South Korea Logistics Market
- South Korea Logistics & Warehousing market size
- South Korea Logistics & Warehousing industry Segmentation (By service mix, normal & express delivery, by geography)
- South Korea Freight Forwarding Market Size
- South Korea Freight Forwarding Market Segmentation (by freight movement, by international & domestic freight forwarding, major sea flow corridors)
- Competitive Landscape for South Korea Freight Forwarding Market
- South Korea Freight Forwarding Market Future Outlook
- South Korea Warehousing Market Size
- South Korea Warehousing Market Segmentation (By business model, by industry, by geography)
- Competitive Landscape for South Korea Warehousing Market
- South Korea Warehousing Market future outlook
- South Korea 3PL Market Size, Competitive landscape for major 3PL players and future outlook
- South Korea Express Logistics Market Size
- Competitive landscape for South Korea Express logistics Market
- South Korea Express Logistics Market Future Outlook
- South Korea Cold Chain Market Size
- Competitive landscape for South Korea Cold Chain Market
- South Korea Cold Chain Market future outlook
- South Korea logistics & Warehousing market Future Outlook and Projections
- Analyst Recommendation
Ken Research
Ankur Gupta, Head Marketing & Communications
ankur [@] kenresearch.com
+91-9015378249
www.kenresearch.com
