Malaysia Freight Logistics Market Hit $28.93 Billion in 2023, with a CAGR of 5.20% from 2024 to 2032 | MRFR
Apr 17, 2024
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Market Overview
According to a Comprehensive Report by MRFR/Market Research Future (MRFR), Malaysia Freight Logistics Market Information by Function, End-User, and Region - Forecast till 2032," The Freight Logistics industry to see growth from USD 28.93 Billion in 2023 to USD 43.39 Billion by 2032, at a rate of 5.20% between 2024 and 2032.
Market Synopsis
4 out of every 10 E-commerce transactions in Malaysia are cross-border, with 72% choosing international seller brands for better pricing and 49% for product availability in Malaysia. The top three countries for cross-border sales are China, Singapore and the United States.
The cross-border e-commerce market share in Malaysia is almost equal to that of the domestic market, which further boosts the need for transportation services.
Infrastructure development in Malaysia is focused on clean energy transition, with local companies (including government owned companies) making bold moves to develop new technologies, including new project announcements in rooftop solar, floating solar, battery storage and hydrogen.
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Market Competitive Landscape:
- CEVA Logistics
- City-Link Express (M) Sdn Bhd
- CJ Century Logistics Holdings Berhad
- Complete Logistic Services Bhd
- Deutsche Post DHL Group
- GD Express Carrier Berhad
- Kerry Logistics Network Limited
- KTM Berhad
- MMC Corporation Berhad
- Nippon Express Co. Ltd
Market USP Covered:
Market Drivers:
Malaysia's transportation industry is key to its economic success. In Malaysia, transport and storage rose by 33.42% YoY in 2022 against 2.60% in 2021. As a result of increased production capabilities for Malaysian manufacturers, demand for road transportation from manufacturing, FMCG and automotive industries has risen. The country’s net foreign direct investment deficit in transportation and storage for the same year stood at MYR32 million (USD7.25 million). Foreign direct investment. Rather than M&A within this sector, Malaysia wants to make logistics hub design, construction more centralized, increase digital use and promote these activities so as to change its logistics services completely. Since establishment years ago, MIDA has endorsed about nineteen investments on cold chain.
The country subsidizes fuel prices with petrol and diesel prices RON95 (USD 20.47) at USD0.46; diesel at USD0.47 per litre while RON97 (USD20.91) goes for USD0.76 a litre. The price of Brent Crude Oil contract for May traded at USD128 (MYR536.32) a barrel leading to an increase in commodity prices because of positive demand-supply fundamentals. Refined petroleum products formed12.7% of exports which increased by MYR 10.7 billion (USD2.42 billion) to MYR18 .6 billion (USD4 .21 billion) as average exports expanded by over 45 .1 %due to Russia-Ukraine War. Therefore; increasing energy outlays will intensify slowdowns that may affect developed countries’ economies hence impacting their export growth rate-Asia included-in 2022.
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Market Restraints:
The Malaysian market for freight and logistics is confronted with a number of challenges, both internal and external, which have an impact on its operations and growth prospects. Some of these include infrastructure constraints. Roads, ports, and railways in Malaysia need to be improved in terms of capacity, efficiency, and connectivity. This can result in delays and increased costs for moving cargo.
Market Segmentation
There are different kinds of functions that have been used to divide the Malaysian Freight Logistics market. These include forwarding, transport, warehousing, value-added services, and any other type not covered.
Another segmentation of Malaysia's freight logistic market is based on its end users. Which includes but is not limited to manufacturing and automotive, oil and gas, mining and quarrying, agriculture, fisheries, forestry, construction distributive trades, as well as ‘others.’
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Regional Insights
Malaysia is Southeast Asia's gateway. Its closeness to China, India, Australia, and ASEAN makes it a vital commerce and transportation center.
Additionally, Malaysia is crucial to global shipping networks due to its position near the Straits of Malacca and South China Sea. These routes link important Indian Ocean and Pacific Ocean shipping channels, boosting commerce between Asia, Europe, and the Middle East. These elements boost national market development.
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