Freight And Logistics Market in Turkey to increase by USD 10.30 billion during 2022-2027; Growing e-commerce industry in Turkey to drive the growth - Technavio

NEW YORK, Feb. 7, 2024 /PRNewswire/ -- The freight and logistics market in Turkey size is expected to grow by USD 10.30 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 7.2% during the forecast period. The market is segmented by delivery mode (road, rail, maritime, and air), service (transportation, warehousing and distribution, and value-added services), and end-user (manufacturing, automotive, consumer goods, food and beverage, and others). The growth of the e-commerce industry in Turkey is driving the market growth.

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The country has several major e-commerce players. For instance, Trendyol, an e-commerce platform based in Turkey, had a revenue of USD 3.2 billion in 2021. In addition, 40% of the Turkish population bought at least one product online in 2021. Fashion is the largest segment in the country, accounting for 42% of the e-commerce revenue. The growth of the e-commerce industry will increase the demand for freight and logistics services, which, in turn, will boost the growth of the freight and logistics market in Turkey during the forecast period.

Key Highlights:

• The report recognizes the following as some of the key players in the freight and logistics market in Turkey: Agility Public Warehousing Co. K.S.C.P, Alfares Lojistik, ATA Freight, BATI INNOVATIVE LOGISTICS, C H Robinson Worldwide Inc., CEVA Logistics AG, DB Schenker, Deutsche Post AG, Ekol Lojistik AS, Hellmann Worldwide Logistics SE and Co KG, KARINCA Lojistik AS, KITA Logistics, Kuehne Nagel Management AG, Mars Logistics, Netlog Logistics, Nippon Express Holdings Inc., Omsan Lojistik AS, ORAS, United Parcel Service Inc., and XPO Logistics Inc.
• Freight and Logistics Market in Turkey is fragmented in nature.
• Market to observe 6.7% YOY growth in 2023.

Market Dynamics:

Trend

• The increasing popularity of multimodal transportation is a key trend in the market.
• Multimodal transportation uses different modes of transport under a single bill of lading.
• It has various advantages, such as a single contract, reduction of risk or loss or damage of goods and personnel, tracking of goods at a single point, and decrease in the number of documents handled.

Challenge

• High infrastructure cost is challenging the market growth.
• Shipping goods through intermodal transportation requires high investments, which include the installation of gantry cranes and other heavy-duty cranes necessary to lift containers at different ports while changing the mode of transport. For example, whenever a container arrives at a seaport, it should be transferred on either a flatbed, rail, or truck. 
• Necessary investments for rail and road access are also required. For example, a seaport should have a rail line so that railways can transport goods to and from the seaport.

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Keg Segments:

The road segment will account for a significant share of the market's growth during the forecast period. On-road vehicles are the most preferred mode of transportation. The e-commerce industry is one of the key drivers of the road freight segment. Turkey is one of the most popular e-commerce marketplaces in Europe and attracts domestic as well as international businesses.

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Related Reports:

The freight logistics market is estimated to grow at a CAGR of 5.74% between 2022 and 2027. The size of the market is forecasted to increase by USD 319.65 million. 

The freight brokerage market is estimated to grow at a CAGR of 5.45% between 2022 and 2027. The size of the market is forecasted to increase by USD 15.95 billion.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Delivery Mode

Market Segmentation by Service

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio