Saudi Arabia Freight and Logistics Market Size Set to Touch Whopping USD 33.2 Billion by 2029

Published | 15 September 2023

Saudi Arabia freight and logistics market is gaining traction because of the rapidly expanding e-commerce sector and significant investments in infrastructure.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Saudi Arabia freight and logistics market size at USD 22.5 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Saudi Arabia freight and logistics market size to grow at a CAGR of 5.7% reaching a value of USD 33.2 billion by 2029. The booming e-commerce industry in Saudi Arabia as well as increasing government efforts and investments aimed at bolstering the Kingdom's logistics sector in order to increase the amount of non-oil exports are major growth factors for the Saudi Arabia freight and logistics market.

Saudi Arabia Freight and Logistics Market – Overview

Freight and logistics are a cost-effective operation and the delivery of products from one place or country to the other. Businesses generally employ freight to efficiently transport vast amounts of commodities throughout the globe, including via truck, train, ship, and air. Shippers can choose from four main methods of freight transportation. The main modes of transportation are via land (road), train, ocean, and air. The phrase "logistics" covers a wide range of operations, including distribution, warehousing, and many more in addition to the transportation of products.

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Saudi Arabia Freight and Logistics Market

Segmental Information

Saudi Arabia Freight and Logistics Market – By Function

Based on function, the Saudi Arabia freight and logistics market is segmented into inventory management, packaging, warehousing, transportation, distribution, custom clearance, and others. The transportation segment accounts for the highest share of the market. The high demand for imported products that are not domestically produced, such as certain fruits and vegetables, chemicals, and others, along with flourishing exports of crude petroleum and pharmaceuticals of the Kingdom is boosting the demand for transportation in Saudi Arabia.

Impact of COVID-19 on the Saudi Arabia Freight and Logistics Market

The unprecedented COVID-19 pandemic negatively impacted the growth of the Saudi Arabia freight and logistics market. The imposition of the lockdown followed by immediate restrictions on cross-border trade significantly reduced the freight and logistics demand in the country. The operations of the end users including trade and transportation manufacturing and retail were hampered during the lockdown, which also limited the market growth. However, the market gained significant traction in the e-commerce and healthcare sectors. The freight and logistics sector assisted the healthcare industry in efficiently managing the transportation of vaccines and other medicines essential for the treatment of COVID-19, which significantly proliferated the overall market growth.

Competitive Landscape

Major players operating in the Saudi Arabia freight and logistics market include Almajdouie Logistics, Bahri Logistics, CEVA Logistics, SAL Logistics, DHL Saudi Arabia, Nesma Trading Co. Ltd, Almajdouie Heavylift Transport, Gulf Agency Company, Al-Saad Logistics and Transportation Co., and Agility Logistics.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Saudi Arabia Freight and Logistics Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Saudi Arabia Freight and Logistics Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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