THAILAND LOGISTICS AND WAREHOUSING MARKET IS ESTIMATED TO REACH USD XX BILLION BY 2032: SPER MARKET RESEARCH
The entire process of gathering, storing, and delivering a collection of goods or resources to customers or other sites is included in logistics services. It refers to the movement of items into and out of the warehouse, including completed goods and raw materials. The phrase warehousing and logistics gained popularity among businesses and sectors that produce and distribute items via supply chains. A warehouse is a type of commercial space where products and resources are kept. It serves as a hub for the distribution, sale, or use of goods by keeping them arranged, safe, and stocked until needed. They make it possible to transfer and manage inventory effectively, hence warehouses are essential parts of supply networks. Providing a safe and regulated environment for storing goods is the fundamental purpose of a warehouse.
According to SPER Market Research, ‘Thailand Logistics and Warehousing Market Size-By Function, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ states that the Thailand Logistics and Warehousing Market is estimated to reach USD XX billion by 2032 with a CAGR of XX%.
Thailand has the potential to become a regional hub for logistics because of its location and growing economy. Thailand is a key gateway for connecting with other countries due to its central Southeast Asian location, which facilitates efficient regional distribution and logistics operations. Another reason fuelling the growth of the Thailand logistics industry is the expansion of e-commerce, which in turn increases demand for logistics services. There is a need for developing e-commerce ecosystems and consumer products as the incomes of the Association of Southeast Asian Nations countries rise. Thailand has become an attractive development environment for e-commerce businesses due to its increased internet users who are accustomed with using digital technology, mobile devices, and e-commerce.
The longer lead times and imbalanced supply and demand are major obstacles to the expansion of the logistics business in Thailand. Enhancing connection and lowering bottlenecks require infrastructure improvement, particularly in rural areas. It is imperative to create a business-friendly environment, reduce regulations, and train the staff to navigate complex compliance procedures. Operational efficiency depends on the deployment of technologies like automation. Critical concerns also include establishing environmentally friendly methods and managing complex supply networks. Lack of last-mile fulfilment services, labour shortages, and supply-demand imbalance cause disruptions to the transport and logistics distribution networks. Lead times can also occasionally lengthen on the manufacturer’s end due to labour shortages and shortages of raw materials.
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Thailand’s logistics and storage industry has been significantly impacted by the COVID-19 pandemic, which disrupted global supply chains and both domestic and international trade. Customers’ preferences for online buying shifted, which put pressure on the world’s transportation and logistics sector. Therefore, transport and logistics providers in the Thailand logistics sector faced difficulties due to supply chain disruptions and increase in lead time. One of the biggest effects of the outbreak on Thailand’s logistics industry has been a decrease in demand for various forms of transportation services. Road freight companies have suffered as a result of factory and business closures that have reduced demand for transportation services.
Thailand Logistics and Warehousing Market Key Players:
The largest market share for Thailand Logistics and Warehousing Market is held by Bankok due to its strategic location, infrastructure, and high concentration of economic activities. Deutsche Post DHL Group, CEVA Logistics, Deutsche Bahn AG, Kerry Logistics Network Limited and Yusen Logistics Co. Ltd. are a few of the major names in the market.
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Thailand Logistics and Warehousing Market Growth
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