Hyderabad, March 28, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Iraq Freight & Logistics Market - (2023 – 2028),” the market is expected to register a CAGR of >3.8%. The Construction and Housing Ministry recognizes the importance of integrating a national transportation strategy with road network improvements. Iraq has a significant rural dirt road network and over 44,000 km of paved highways.
The highway and bridge systems are the primary surface transportation links connecting Iraq to its neighbors. An efficient road system promotes domestic trade, assists tourists, and connects the country's population centers to essential services.
What is driving the growth of the Iraq Freight and Logistics Market?
The World Trade Organization (WTO) defines e-commerce as "the electronic production, distribution, marketing, sales, or delivery of goods and services." In 2021, 75% of the Iraqi population had internet access, and 61.4% used social media platforms.
- Iraq's e-commerce sector has grown rapidly in recent years.
- The industry has evolved from a niche dominated by technologically savvy individuals to a mainstream service for the average Iraqi consumer.
- According to a Think Bank Iraq survey, 57% of Iraqi internet users shopped online at least once.
- This has increased the interest of Iraqi industry leaders and investors in e-commerce platforms.
- Platforms such as Miswag have secured millions in funding rounds. While Orisdi secured funding and partnership deals with Iraq's largest private TV network, Al Sharqiya.
- The Iraqi e-commerce market is expanding. It was valued at USD 3.815 billion in 2021, as per Statista.
- This study aims to discover purchase patterns among Iraqi consumers, from product discovery to online search, to ordering and providing feedback.
According to industry experts, more than three-quarters (79.35%) of respondents have shopped online in the last three months, with 61.22% placing one to three orders and spending between USD 50 and USD 100. When it comes to Iraqis shopping online, such figures show high demand and promising prospects.
Infrastructure is needed to support logistics in Iraq:
China Sea extends through the Malacca Strait, the Indian Ocean, the Red Sea, and the Mediterranean Sea. BRI policy goals include improving communication between governments, implementing hard and soft infrastructure, strengthening cultural ties through academic exchanges, tourism, and other activities, and promoting regional cooperation and integration.
Hard infrastructure entails the construction of transportation and logistics hubs, ports, energy plants, refineries, and power grids, among other things. Soft infrastructure refers to the development of regulatory standards, trade agreements, and so on.
Iraq received the most construction-related investment in the West Asian region in 2021, with USD 10.5 billion for financing a variety of projects ranging from energy and aviation infrastructure to green energy capabilities to road and school construction.
Who are the key players in the Iraq Freight and Logistics Market?
The freight and logistics market in Iraq is fragmented, with a mix of international and local companies. Among the country's major players are:
- Al-Rashed United Shipping Services
- Zarawa Company
- Move One Logistics
- Crown Logistics LTD
- Guangzhou International
- Transparency Co.
- Arch Star Logistics
- Mateen Express and Logistics
- Sheraz Co.
- DHL Global Forwarding
- Nippon Express Co. Ltd
- Dsv Global Transports and Logistics
- The Maersk Group
- C.H. Robinson
Recent developments in the Iraq Freight and Logistics Market:
In November 2022, AD Ports Group and Iraq-based International Development Bank (IDB) signed an MoU (memorandum of understanding) to review opportunities for ports and logistics projects that could enhance trade flows between the United Arab Emirates and Iraq.
In February 2022, the leading international air and travel services company, Dnata, reached a significant milestone in Erbil. In order to digitize procedures and increase efficiency throughout its cargo operations in Iraq, the company deployed the "OneCargo" system.
In a nutshell, the Mordor Intelligence Market Research Report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the https://www.mordorintelligence.com/industry-reports/iraq-freight-logistics-market-study
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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