Report Overview

Vietnam Warehousing Market - Industry Trends & Forecast Report, 2030

Vietnam Warehousing Market size by area was estimated at 850,000 square feet in 2023. During the forecast period between 2024 and 2030, Vietnam Warehousing Market size is expected to expand at a CAGR of 10.66% reaching the area of 1,727,000 square feet by 2030. Major growth factors for Vietnam Warehousing Market include rapid growth of the e-commerce sector and globalization along with an increasing demand for goods from other countries. In addition, technological advancements and rising adoption of automation to improve the supply chain and storage and to reduce carbon footprints are anticipated to present lucrative growth opportunities for Vietnam warehousing market during the forecast period.

Warehousing – Overview

A warehouse may be described as a location where finished items, raw materials, semi-finished goods, imported or exported commodities, are stored or accumulated. Goods can be stored, shipped, and distributed from a single place through warehousing. This facilitates effective inventory tracking and management. Additionally, it can lower workforce requirements, boost flexibility, and lower transportation expenses. Moreover, warehouses occasionally offer value-added services including assembly, labeling, packing, and customization.

Vietnam Warehousing Market

Growth Drivers

Rising Adoption of Automation

Vietnam Warehousing Market is increasingly leveraging advanced technologies, including automation, artificial intelligence (AI), and machine learning, to improve their business operations and efficiency. Automation technologies of warehousing, such as AGVs, autonomous mobile robots, and collaborative robots, help warehouses automate manual tasks, reduce their processing time and cost, and lower the risk of errors and accidents by laborers. With expanding e-commerce and global trade, the volume of inventory is also rising. The adoption of smart warehousing solutions, such as robotic palletizers and vertical storage systems, allows warehouse owners to efficiently manage available space, which is anticipated to drive Vietnam warehousing market growth during the forecast period.

Challenges

High Cost of Warehouse Construction

The high cost associated with warehouse construction and maintenance in Vietnam may act as a limiting factor for its market growth in the country. According to estimates, the average cost of warehouse construction in Vietnam ranges from USD 300 to USD 600 per square meter, or USD 28 to USD 55 per square foot. Many factors influence its cost, including location, materials, labor availability, as well as regulations. As a result, the Vietnam warehousing market has to depend on foreign investments to establish and expand its scope.

Impact of Escalating Geopolitical Tensions on Vietnam Warehousing Market

Intensifying and further spreading of geopolitical tensions among countries across the regions could adversely affect the growth of Vietnam Warehousing Market. Geopolitical, economic, and trade tensions cause supply chain disruptions, which affect the import and export activities in the country. Delays in shipments may increase the demand for efficient warehouses for product storage. However, international players dominate more than half of the Vietnam Warehousing Market. Conflicts and tensions may cause investment shifts from Vietnam amid uncertainties and limit the construction of new warehouses in the country. Geopolitical tensions could accelerate the shift toward e-commerce as consumers and businesses seek more stable supply options. This growth could increase demand for logistics and warehousing capabilities.

Vietnam Warehousing Market

Segmental Coverage

Vietnam Warehousing Market – By Type

By type, Vietnam Warehousing Market is segmented into general warehousing, specialized warehousing, and cold storage warehousing. The general warehousing segment holds the largest share of Vietnam Warehousing Market. The growth of the market is mainly attributed to rapid urbanization and industrialization. The rising industrial output fuels the need for efficient warehousing and storage to store finished goods. Furthermore, the growing adoption of automation and robotics in general warehouses and their operations is anticipated to propel market growth over the forecast period.

Vietnam Warehousing Market – By End Use

Based on end use, Vietnam Warehousing Market is segmented into retail, food & beverages, chemicals, and others. The retail segment leads Vietnam Warehousing Market owing to the booming e-commerce sector in the country. Warehousing enhances the business performance of retailers by improving their operational efficiency and customer satisfaction. Warehouses allow businesses to maintain a smooth flow of products and facilitate an effective supply chain. Furthermore, efficient use of warehousing also allows retailers to reduce their transportation and labor costs. However, the food & beverage segment is projected to register a high growth rate during the forecast period.

Competitive Landscape

Vietnam Warehousing Market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include NCTS, MP Logistics, Empire-Group Co., Ltd, BSS Logistics, Duc Viet Cargoteam, Gemadept Logistics, HT Cargo, TCL International Co., Ltd, and PFCEX. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In March 2024 – Cainiao Group, a logistics company under Alibaba Group, announced its partnership with Mixue, a Chinese food and beverages company, for warehousing services in Vietnam.

Scope of the Report

By Type

• General Warehousing

• Specialized Warehousing

• Cold Storage Warehousing

By End Use

• Retail

• Food & Beverages

• Chemicals

• Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Vietnam Warehousing Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. E-commerce Boom
         2. Urbanization and Population Growth
         3. Just-in-Time Inventory Management
      2. Restraints
         1. Economic Fluctuations
         2. Rising Real Estate Costs
      3. Opportunities
         1. Cold Chain Logistics
         2. Advancement in Technology
      4. Challenges
         1. Labor Shortages
         2. Regulatory Compliance
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Vietnam Warehousing Market: Marketing Strategies
5. Vietnam Warehousing Market: Pricing Analysis
6. Vietnam Warehousing Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Area (Square Feet)
   2. Market Share & Forecast
      1. By Type
         1. General Warehousing
         2. Specialized Warehousing
         3. Cold Storage Warehousing
      2. By End Use
         1. Retail
         2. Food & Beverages
         3. Chemicals
         4. Others
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Vietnam Warehousing Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
8. Impact of Escalating Geopolitical Tensions on Vietnam Warehousing Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. NCTS
   2. MP Logistics
   3. Empire-Group Co., Ltd
   4. BSS Logistics
   5. Duc Viet Cargoteam
   6. Gemadept Logistics
   7. HT Cargo
   8. TCL International Co., Ltd
   9. PFCEX
   10. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
    1. Qualitative Research
       1.   Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
       1.   Secondary Research
       2.   Primary Research
    4. Breakdown of Primary Research Respondents, By Country
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Vietnam Warehousing  Segmentation

Figure 2       Vietnam Warehousing  Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       Vietnam Warehousing  Market Size, By Area (Square Feet), 2019–2030

Figure 5       Vietnam Warehousing  Market Share, By Type,  By Value, 2019–2030

Figure 6       Vietnam Warehousing  Market Share, By End Use, By Value, 2019–2030

List of Tables

Table 1        Vietnam Warehousing  Market Size, By Area (Square Feet), 2019–2030

Table 2        Vietnam Warehousing  Market Size, By Type,  By Value, 2019–2030

Table 3        Vietnam Warehousing  Market Size, By End Use, By Value, 2019–2030

Table 4        NCTS  Company Overview

Table 5        NCTS  Financial Overview

Table 6        MP Logistics Company Overview

Table 7        MP Logistics Financial Overview

Table 8        Empire-Group Co., Ltd Company Overview

Table 9        Empire-Group Co., Ltd Financial Overview

Table 10      BSS Logistics Company Overview

Table 11      BSS Logistics Financial Overview

Table 12      Duc Viet Cargoteam Company Overview

Table 13      Duc Viet Cargoteam Financial Overview

Table 14      Gemadept Logistics Company Overview

Table 15      Gemadept Logistics Financial Overview

Table 16      HT Cargo Company Overview

Table 17      HT Cargo Financial Overview

Table 18      TCL International Co., Ltd Company Overview

Table 19      TCL International Co., Ltd Financial Overview

Table 20      PFCEX Company Overview

Table 21      PFCEX Financial Overview