Hyderabad, July 06, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Japan Freight and Logistics Market Report (2023-2028)," the market is estimated at USD 286.92 billion in 2023. It is expected to register a CAGR of 4.03% during the forecast period.
The logistics industry in Japan is witnessing growth due to increasing demand and the rise of e-commerce companies. Japan offers a large and sophisticated consumer economy characterized by high per capita income. The country depends on imports of natural resources, and its strategic relationship with the United States presents opportunities in advanced sectors like defense and security.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 286.92 billion |
| Market Size (2028) | USD 349.65 billion |
| CAGR (2023-2028) | 4.03% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Growth of international trade. |
| Growth of e-commerce. |
Who are the Top Companies in the Japan Freight and Logistics Market?
The Japanese freight and logistics market is fragmented. A mix of global and regional players is present in the country. Major companies are adopting modern technologies for warehouse management, automation, delivery, and transportation, enabling increased productivity and value proposition.
The significant players in the Japanese freight and logistics market in 2023 are:
- Deutsche Post DHL Group
- Yusen Logistics
- NNR Global Logistics
- Nippon Express Group
- SAGAWA Global Logistics
- HAVI Logistics & Supply Chain
- DB Schenker
- Kokusai Express
- Kuehne+Nagel
- UCI Air Freight Japan
- FTL Group
- PexGo
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Key Highlights from the Japan Freight and Logistics Market Report:
Growing E-commerce Business
- Japan is the third-largest e-commerce market in the world, behind the United Kingdom and the United States. This growth is mainly driven by increased internet penetration, a large urban population, and rapid growth in logistics infrastructure.
- Food and personal care are the largest segments in the Japanese e-commerce market. Domestic online retail companies are dominating this segment. They are using a multi-channel approach to increase their market share. Japan's advanced economy and tech-savvy population are attracting new players from inside and outside the country.
Boosted Warehouse Infrastructure Development
- Logistics real estate is an attractive business in Japan. Average asking rates in urban areas are increasing, driven by less supply and more demand. However, as more investments are being made in the sector, capitalization rates are coming down gradually.
- Supply is expected to increase further this year, leading to more competition affecting rental prices. Fierce competition for acquisitions among the players is likely to make the competition more intense in this attractive market.
What are the Latest Developments in the Japan Freight and Logistics Market?
- In December 2022, Nippon Express Holdings Inc. signed a memorandum of understanding with Silk Way West Airlines to expand and promote cooperation in air cargo transport.
- In June 2022, DHL Express opened a new route between Japan and the United States, citing rising cargo demand between the countries.
Mordor Intelligence has Segmented the Japan Freight and Logistics Market Based on Function and End-User.
- By Function (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Freight Transport
- Road
- Shipping and Inland Water
- Air
- Rail
- Freight Forwarding
- Warehousing
- Value-added Services and Other Functions
- Freight Transport
- By End User (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Manufacturing and Automotive
- Oil and Gas, Mining, and Quarrying
- Agriculture, Fishing, and Forestry
- Construction
- Distributive Trade (Wholesale and Retail Segments - FMCG included)
- Other End Users (Telecommunications, Food and Beverage, and Pharmaceuticals)
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 Japan Freight and Logistics Market Report (2023-2028).
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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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