DUBLIN--(BUSINESS WIRE)--The "Philippines Freight & Logistics Market Study - Market Trends, Analysis & Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
The Philippine freight & logistics market is expected to reach a market value of USD 60.22 billion by 2023.
The Philippine freight forwarding industry is highly fragmented. Despite players being classified under one Pre-Shipment Inspection Certificate (PSIC), overseeing agencies for different activities of the industry are varied. For instance, sea freight forwarders are under the jurisdiction of the Department of Trade and Industry Philippines (DTI), while airfreight forwarders are under the Department of Transportation and Communications (DOTC). Global players dominate the Philippine air freight forwarding market. Moreover, the domestic inter-island freight movement is quite low.
Growing demand for e-commerce and increased household spending is expected to boost the demand for warehouses in the country. Several industrial parks in Southern and Northern Luzon manufacture light items, such as food and beverages, clothes, and packaging materials, and these require storage facilities. More standard factory buildings are also required to support the growth of the country's export and import. The recent warehouse acquisition of SBS Philippines, S&R Membership Shopping, D&L, as well as the expansion of Lazada's existing Laguna warehouse is indicative of the surging demand for this industrial segment.
The Philippine Coastal Storage and Pipeline Corporation (PCSPC) has added an extra 540,000 barrel of storage at its facility in the Subic Bay Freeport Zone. Three new 180,000 barrel fuel storage tanks and two tank truck loading racks were added to the company's facility.
- DB Schenker
- Yusen Logistics
- Kerry Logistics network
Key Topics Covered:
2. Market Overview
3. Market Dynamics
4. Philippine Freight & logistics Market Insights, by Mode of Freight Transport Forecast
5. Philippine Freight & Logistics Market Insights, by Function Forecast
6. Philippine Freight & Logistics Market Insights, by End User Forecast
7. Key Company Players
8. Investment Outlook
For more information about this report visit https://www.researchandmarkets.com/research/d2z4lw/philippines?w=4
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Related Topics: Logistics