The South Korea Third-Party Logistics 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.
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Key Findings of the Study: South Korea Third-Party Logistics (3PL) Market
South Korea Third-Party Logistics (3PL) Market Driver: 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.
Scope of the Report and South Korea Third-Party Logistics (3PL) Market Segmentation
By Type
-Contractual 3PL
-Non-contractual 3PL
By Solution
-Transportation Management
-Warehousing & Distribution
-Dedicated Contract Carriage (DCC)
-Logistics Software
-Others
By Transportation Mode
-Rail
-Road
-Air
-Sea
- 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
-Healthcare & Pharmaceuticals
-Retail & E-commerce
-Automotive
-Consumer Goods
-Food & Beverage
-Others
Top leading companies in the South Korea Third-Party Logistics (3PL) Market includes:
Hyundai Glovis, SEBANG, Daewoo Logistics, Yusen Logistics, Sunjin Logistics, Kuehne + Nagel, CTSI Logistics, Lotte Global Logistics, Omni Logistics, DSV, and Others
South Korea Third-Party Logistics (3PL) Market 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.
For more detailed information about the South Korea Third-Party Logistics (3PL) market report, click here – https://www.marknteladvisors.com/research-library/south-korea-third-party-logistics-market.html
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