Malaysia Freight And Logistics Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

Malaysia Freight And Logistics Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029
The Malaysia Freight And Logistics Market size is estimated at USD 26.35 billion in 2023, and is expected to reach USD 35.10 billion by 2029, growing at a CAGR of 4.90% during the forecast period (2023-2029). Key Highlights The growth rate of Rail segment indicates that it is the Fastest-growing Mode Of Transports. In Malaysia, enhanced cross border freight connectivity and construction projects like MRT Putrajaya Line are expected to drive the growth of rail transport over the forecast period. Among all the Destination Types, Domestic is the largest contributor to the Malaysia Freight And Logistics Market. In the domestic segment of the CEP market, the wholesale and retail trade end-user segment accounted for the major share of 64.1% in 2022. Manufacturing is the largest End User Industries in the Malaysia Freight And Logistics Market. Manufacturing is one of the largest business sectors in Malaysia. It exports a wide variety of products, including electrical and electronic equipment, rubber gloves, and chemical products. The largest temperature control for the Malaysia Freight And Logistics Market is Non-Temperature Controlled. The non-controlled warehousing segment in Malaysia has grown significantly in recent years due to factors like better infrastructure, rising freight volumes, and growth in e-commerce. Temperature Controlled is the Fastest-growing temperature control for the Malaysia Freight And Logistics Market. The temperature-controlled segment is supported by the OTC pharmaceuticals industry in Malaysia. The OTC pharmaceuticals industry is expected to record a CAGR of 7.27% during 2022-27.Transportation sector recording a steady growth in Malaysia In 2021, the Malaysian transportation services sector generated roughly USD 15 billion in total revenues. With total revenues of USD 8.9 billion or 59.2% of the industrial group's overall value, the maritime section was profitable for the industry group in 2021. In 2020, the COVID-19 pandemic disrupted both the supply and demand for commodities and their flow through transportation systems, causing the value of the Malaysian transportation services business to fall by 2.6%. The Malaysian government intends to transform its logistics services by centralizing the planning and development of its logistics hub, accelerating digital adoption, and encouraging industry mergers and acquisitions. The Malaysia Shipping Master Plan was expected to realize the shipping sector's ambitions to become a business service sector. This was intended to be accomplished by implementing long-term measures to close competitive gaps and improve the capabilities of Malaysian shipowners, maritime human resources, and maritime ancillary services to meet domestic and regional shipping demands. The MRT3 is the last critical route to complete the Kuala Lumpur urban rail network, of which the line is 50.8km long and runs around Kuala Lumpur's outskirts. Its construction is expected to begin in early 2023 and is slated for full completion by 2030, while operations for the first phase are anticipated to commence in 2028. Furthermore, through the ECRL, a double-track railway linking infrastructure project, which includes 20 stations, began in August 2017, with 14 passenger stations, five combined passenger and freight stations, and one freight station. The project is expected to be operational in January 2027, with the capacity to transport 5.6 million passengers annually, transporting 440 passengers in six carriages at a time.Malaysia Freight And Logistics Industry Overview The Malaysia Freight And Logistics Market is fragmented, with the top five companies occupying 8.65%. The major players in this market are DB Schenker, Deutsche Post DHL Group, FedEx, MMC Corporation Berhad and Nippon Yusen Kabushiki Kaisha (sorted alphabetically).Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support