Philippines Freight and Logistics Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Philippines freight and logistics market is anticipated to register a CAGR of more than 6% during the forecast period.
Key HighlightsIn the customary areas of transportation, energy, and WASH, the Philippines has announced new projects for 2022. (water projects). The local firms continue to hold the majority of the market share, but some collaborations with international players are being formed in new or emerging industries (such as a planned public-private partnership for a data centre) when the local players lack the necessary technological expertise.
Government programs, such as the Philippines Cold Chain Project (PCCP), which is funded by United States, are also helping to improve the Southeast nation's cold chain logistics infrastructure. The PCCP is a four-year project funded by the US Department of Agriculture (USDA). It is attempting to organize producer groups to increase agricultural productivity and meet international food safety standards by providing improved technologies, expanding cold chain-related markets, and strengthening intermediate organizations.
The Philippines' PHP 11 Bn (USD 214 Million) public-private partnership to rehabilitate Kennon Road has received expressions of interest from possible bidders, including China First Highway Engineering and JFE Engineering Corporation of Japan (PPP). Local building firms First Balfour and Riofil Corporation were among the others. The National Economic and Development Authority (NEDA) of the Philippines is where the DPWH will present the Kennon Road project for final approval. The 33km road has to be widened, 18 bridges need to be upgraded, and slope protection needs to be built.
The Philippines’ railway network is undergoing a rebirth after decades of neglect and underspending that has left it in a decrepit state. Among the government’s top priorities is the flagship North-South Commuter Railway in Manila, its largest-ever individual infrastructure investment. NSCR is envisaged as a 163 route-km suburban railway network connecting the regional growth centres of Clark and New Clark City in the north with central Manila and Calamba City in Laguna province to the south of the capital.
Philippines Freight & Logistics Market Competitive AnalysisThe competition in the Philippines freight and logistics market is fragmented, with the presence of many local and international logistics service providers. Some of the existing major players in the market include – FedEx, UPS, DHL, Kuehne + Nagel, PHL Post, Nippon Express, 2GO Express, etc.
The international players are making strategic investments to establish a regional logistics network, such as opening new distribution centers, smart warehouses, etc. The growth of e-commerce is an essential factor spurring the development of courier services. Increasing consumption and Internet penetration are boosting e-commerce activity in the Philippines.
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