South Korea Third-Party Logistics (3PL) Market Overview:

According to MarkNtel Advisors study the South Korea Third-Party Logistics Market size is valued at around USD 18.5 billion in 2024 & is estimated to reach around USD 32 billion by 2030. The market is also expected to grow at a CAGR of around 9.8% during the forecast period, i.e., 2024-30. The market in South Korea is experiencing robust growth driven by economic recovery, a rise in industrial production, an increase in consumer, and overall expansion in various industries such as manufacturing, healthcare & pharmaceuticals, retail & e-commerce, automotive, consumer goods, food & beverages, etc. Such developments in the economy and across industries will boost the growth of 3PL services in the country. The services offered by 3PL in South Korea include transportation management, warehousing & distribution, dedicated contract carriage, logistics software, and others, these services are necessary for these industries due to their objective of achieving operational efficiency.

Key Findings of the Study: South Korea Third-Party Logistics (3PL) market

South Korea Third-Party Logistics (3PL) Market Opportunity:

The Boom in Renewable Energy to Offer Lucrative Growth Opportunities – South Korea has set the target to reduce its carbon emissions by 2030, to meet this, the government wants to increase its renewable energy sector to 22% of the power generation. The sudden push to meet its commitment will have a transformational effect on the Korean economy resulting in the opening of new avenues for supply chain and logistics that need to be filled. These sectors will increase the economic activity in the country by boosting the manufacturing and production of key components necessary for renewable energy generation, leading to increasing requirements of the 3PL. These include the transportation of solar panels to wind turbines or simply the components and raw materials used in their making. Such development in the economy presents ample opportunities to drive the future growth of South Korea’s third-party logistics industry in the coming years.

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Scope of the South Korea Third-Party Logistics (3PL) Market Report Segmentation

-By Type

• Contractual 3PL- Market Size & Forecast 2019-2030F, USD Million
• Non-contractual 3PL- Market Size & Forecast 2019-2030F, USD Million

-By Solution

• Transportation Management- Market Size & Forecast 2019-2030F, USD Million
• Warehousing & Distribution- Market Size & Forecast 2019-2030F, USD Million
• Dedicated Contract Carriage (DCC)- Market Size & Forecast 2019-2030F, USD Million
• Logistics Software- Market Size & Forecast 2019-2030F, USD Million
• Others- Market Size & Forecast 2019-2030F, USD Million

-By Transportation Mode

• Rail- Market Size & Forecast 2019-2030F, USD Million
• Road- Market Size & Forecast 2019-2030F, USD Million
• Air- Market Size & Forecast 2019-2030F, USD Million
• Sea- Market Size & Forecast 2019-2030F, USD Million

-By End User Industries

• Manufacturing- Market Size & Forecast 2019-2030F, USD Million
• Healthcare & Pharmaceuticals- Market Size & Forecast 2019-2030F, USD Million
• Retail & E-commerce- Market Size & Forecast 2019-2030F, USD Million
• Automotive- Market Size & Forecast 2019-2030F, USD Million
• Consumer Goods- Market Size & Forecast 2019-2030F, USD Million
• Food & Beverage- Market Size & Forecast 2019-2030F, USD Million
• Others- Market Size & Forecast 2019-2030F, USD Million

For more detailed information about the South Korea Third-Party Logistics (3PL) market report, click here – https://www.marknteladvisors.com/research-library/south-korea-third-party-logistics-market.html

South Korea Third-Party Logistics (3PL) Industry Recent Development:

• In July 2024: Hyundai Glovis acquired an LNG carrier for its fleet as the company ventures into the LNG transportation business. The vessel is 292 meters long and carries a capacity of 174,000 cbm of liquefied gas. The said capacity is enough to fulfill half of the country’s daily LNG consumption.

Current Landscape of South Korea Third-Party Logistics (3PL) Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the South Korea Third-Party Logistics (3PL) market. The research report profiles major players, including

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• Hyundai Glovis
• SEBANG
• Daewoo Logistics
• Yusen Logistics
• Sunjin Logistics
• Kuehne + Nagel
• CTSI Logistics
• Lotte Global Logistics
• Omni Logistics
• DSV
• Others

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