Dublin, March 28, 2024 (GLOBE NEWSWIRE) -- The "Japan Freight and Logistics - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029" report has been added to ResearchAndMarkets.com's offering.
The Japan Freight and Logistics Market is poised for substantial growth, with projections indicating a leap from USD 320.09 billion in 2024 to USD 393.66 billion by 2029. This growth is anticipated to occur at a Compound Annual Growth Rate (CAGR) of 4.22% over the forecast period. Dynamic factors such as an increasing emphasis on road freight services due to soaring e-commerce sales and notable infrastructural transformations are shaping the industry's trajectory.
Dominant Trends in Japan Freight and Logistics
The transportation and storage sectors are expanding their influence on Japan's GDP, propelled by significant investments in technology and automation. The emergence of automatic transportation roads and logistical tunnels, in particular, stands as a testament to Japan's commitment to addressing labor shortages and fulfilling the escalating demands for home delivery services.
Infrastructure Investments Fueling Market Growth
Japan's significant financial commitment to the construction and maintenance of public roads marks a noteworthy contribution to the market's expansion. Investments from the Ministry of Land, Infrastructure, Transport and Tourism (MILT) are geared towards mitigating the effects of infrastructural deterioration, with emphasis on the coming decades.
Adaptation to E-commerce Boom and Socioeconomic Shifts
As e-commerce continues to ascend, Japan's unique market pattern showcases a dominant presence of three key expansion organizations, collectively controlling the domestic parcel delivery market segment. This shift has led to an increased deployment of mini vehicles, a strategic adaptation to cater to the burgeoning sector.
Government Initiatives to Stabilize Fuel Costs Amid Global Uncertainties
Amidst rising global crude oil prices, the Japanese government took decisive action by instating a gasoline subsidy program, now extended until the end of 2023. This measure aims to mitigate the impact of fluctuating fuel costs on both the economy and consumer prices.
Competitive Landscape of Japan Freight and Logistics
While the market is fragmented, the convergence of key players such as Kintetsu World Express, Mitsui O.S.K. Lines, Ltd., Nippon Express, Yamato Holdings Co. Ltd., and Yusen Logistics dominate the current landscape, collectively occupying a formidable market share.
The growth indicators point towards a transformative phase for the Japan Freight and Logistics Market, with innovation and strategic investments paving the way for a more efficient and responsive industry. The forecasted expansion showcases the sector's invaluable role in not just the nation's economy, but also its adaptability in a rapidly evolving global market landscape.
A selection of companies mentioned in this report includes, but is not limited to:
- DB Schenker
- Deutsche Post DHL Group
- DSV A/S (De Sammensluttede Vognmænd af Air and Sea)
- Hanjin Shipping
- Kintetsu World Express
- Kuehne + Nagel
- Mitsui O.S.K. Lines, Ltd.
- Nippon Express
- United Parcel Service
- Yamato Holdings Co. Ltd
- Yusen Logistics
For more information about this report visit https://www.researchandmarkets.com/r/5bfux7
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
