MarkNtel Advisors recently published a detailed industry analysis of the South Korea Third-Party Logistics (3PL) Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
South Korea Third-Party Logistics (3PL) Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The South Korea Third-Party Logistics (3PL) Market size is valued at around USD 18.5 billion in 2024 & is estimated to reach around USD 32 billion by 2030. The market is also expected to grow at a CAGR of around 9.8% during the forecast period, i.e., 2024-30.
What are the major Driver the South Korea Third-Party Logistics (3PL) industry?
Rise in the E-Commerce Industry – South Korea is certainly one of the biggest e-commerce markets globally pushing third-party logistics boom in the country because of the need for dependable logistics and fulfillment partners. The expansion in the e-commerce sector is primarily due to the excessive penetration of smartphones, high-speed internet, and the presence of dependable online payment programs in the country.
The growth in e-commerce in the country and the want to fulfill the developing demands of the e-commerce systems provide the 3PL players with an extraordinary possibility to provide their services which include inventory and transportation management, warehousing & distribution, dedicated agreement carriage, logistics software, and others. The unfolding of such situations offers the 3PL Market to stay properly poised to fulfill the increasing need in this evolving situation offering massive growth during the forecast period.
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What segments define the South Korea Third-Party Logistics (3PL) Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
- By Type
- Contractual 3PL- Market Size & Forecast 2019-2030F, USD Million
- Non-contractual 3PL- Market Size & Forecast 2019-2030F, USD Million
- By Solution
- Transportation Management- Market Size & Forecast 2019-2030F, USD Million
- Warehousing & Distribution- Market Size & Forecast 2019-2030F, USD Million
- Dedicated Contract Carriage (DCC)- Market Size & Forecast 2019-2030F, USD Million
- Logistics Software- Market Size & Forecast 2019-2030F, USD Million
- Others- Market Size & Forecast 2019-2030F, USD Million
According to report, The transportation management segment holds the largest share in South Korea Third-Party Logistics Market, primarily due to South Korea being an export-oriented economy depending on global trade for its economic growth.
- By Transportation Mode
- Rail- Market Size & Forecast 2019-2030F, USD Million
- Road- Market Size & Forecast 2019-2030F, USD Million
- Air- Market Size & Forecast 2019-2030F, USD Million
- Sea- Market Size & Forecast 2019-2030F, USD Million
According to report, For the South Korean third-party logistics industry, based on the transportation mode, freight transportation by road remains the dominant segment and will continue to be over the forecasted period as well.
- By End User Industries
- Manufacturing- Market Size & Forecast 2019-2030F, USD Million
- Healthcare & Pharmaceuticals- Market Size & Forecast 2019-2030F, USD Million
- Retail & E-commerce- Market Size & Forecast 2019-2030F, USD Million
- Automotive- Market Size & Forecast 2019-2030F, USD Million
- Consumer Goods- Market Size & Forecast 2019-2030F, USD Million
- Food & Beverage- Market Size & Forecast 2019-2030F, USD Million
- Others- Market Size & Forecast 2019-2030F, USD Million
Explore the Complete South Korea Third-Party Logistics (3PL) Market Analysis Report –
https://www.marknteladvisors.com/research-library/south-korea-third-party-logistics-market.html
South Korea Third-Party Logistics (3PL) Market Share & Competitive Landscape:
The South Korea Third-Party Logistics (3PL) Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the South Korea Third-Party Logistics (3PL) Market are:
- Hyundai Glovis
- SEBANG
- Daewoo Logistics
- Yusen Logistics
- Sunjin Logistics
- Kuehne + Nagel
- CTSI Logistics
- Lotte Global Logistics
- Omni Logistics
- DSV
South Korea Third-Party Logistics (3PL) Industry Recent Development:
In July 2024: Hyundai Glovis acquired an LNG carrier for its fleet as the company ventures into the LNG transportation business. The vessel is 292 meters long and carries a capacity of 174,000 cbm of liquefied gas. The said capacity is enough to fulfill half of the country’s daily LNG consumption.
Questions Addressed in this Study
1.What factors are driving the South Korea Third-Party Logistics (3PL) Market growth?
2.How is the South Korea Third-Party Logistics (3PL) Market expected to grow over the next five years?
3.What are the key insights into the current trends in the South Korea Third-Party Logistics (3PL) Market ?
4.What is the current size of the South Korea Third-Party Logistics (3PL) Market, and how is it projected to change in the future?
6.What is the future outlook for the South Korea Third-Party Logistics (3PL) Market in terms of technological advancements and market expansion?
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