The report titled Global Turkey Freight and Logistics Market covers definition, applications, classification, value chain structure and market performance by key leading countries/regions. In a detailed research methodology – wise, the Turkey Freight and Logistics analysis with various aspects corresponding to the Globally Turkey Freight and Logistics Market.
In further, the Turkey Freight and Logistics Market includes drivers, restraints, threats, opportunities, trends, geographical/regional Turkey Freight and Logistics markets, and competitive landscape.
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The Turkey freight & logistics market was estimated to be worth over USD 100 billion in 2017,and is one of the fastest growing sectors of the country. The countryâs strategic geographic location that bridges Europe with Middle East and Asia, growing economy, increasing urbanization, developing transport infrastructure, and increasing investments, in line with its vision to become one of the top 10 economies of the world by 2023, are some of the factors that are contributing to the growth of logistics sector, in Turkey.
The country intends to increase its foreign trade volume to USD 1.1 trillion, by 2023. The countryâs geographical advantage needs to be supported by a good transport corridor, for which, the government has undertaken various projects, including constructing new roadways, railways, airports, and increasing port capacities. Some of the projects include – Baku-Tbilisi-Kars railway, Edirne-Kars high-speed railway, North Marmara motorway, Yavuz Sultan Selim Bridge (3rd Istanbul Bridge), and three- story Great Istanbul Tunnel Project, among others.
Increasing Foreign Investments Boosting the Logistics Sector
The Turkish logistics sector has attracted foreign investments worth more than USD 1.9 billion, during the last decade. The increasing trade flows between the developing economies of Europe and Asia necessitate the growth of logistics infrastructure, in Turkey. Moreover, as the country is anticipated to benefit from Chinaâs âOne Belt One Roadâ initiative, it has been attracting the foreign investments in the logistics sector.
Additionally, the increasing public private partnerships in the country are expected to boost âcombined transportationâ. A Turkish government organization, called Investment Support and Promotion Agency of Turkey (ISPAT), provides assistance for investors who enter the country.
The country witnessed foreign trade worth USD 391 billion, in 2017. Maritime transport is the most used mode of transport for international freight movement, whereas, road transport dominates domestic freight movement.
Cold Chain Logistics to Witness Robust Growth:
With a population of more than 80 million and growing urban population, the food & beverage sector is one of the important pillars of Turkeyâs economy, and generated a revenue of USD 129 million, in 2017. The organized retail sector, with several grocery stores and food processing industries of more than 42,000 and around 500 beverage enterprises, drives the demand for cold chain logistics.
Moreover, changing consumer demand for frozen food and fresh products augment the need for the development of cold chain storages and transport systems, with efficient deliveries. The country has good warehouses for food storage, which have controlled temperatures and based on automated systems. The growth of the agricultural sector and horticultural systems drives the demand for cold storages, which are more than 350 in number, currently.
Significant Opportunities for the 3PL industry:
The third-party logistics (3PL) industry is relatively unorganized in Turkey, and presents considerable opportunities for third-party logistics service providers (LSPs). The logistics cost in Turkey is about 12.3% of GDP, as of 2016. The country also has a robust retail industry, in addition to the automotive, iron, and steel industries. The rising demand for outsourcing of logistics paves the way for LSPs in the area of 3PL.
The government is building 20 logistics centers/villages, of which, seven are already completed. With various modes of transportation between these centers, the overall cost of transportation is lowered. These logistics villages are estimated to carry freight worth USD 500 billion, by 2023. These present an advantage for 3PLs, in terms of cost reductions and expansion of networks.
Turkey Freight & Logistics Market
Top Players of Turkey Freight and Logistics Market are listed below:
- International Players (DHL
- Yusen Logistics
- Hellmann Worldwide Logistics
- DB Schenker
- XPO Logistics
- United Parcel Service (UPS)
- CEVA Logistics
- Nippon Express
- Agility Logistics
- Logwin Logistics)
- Local Players (Ekol Logistics
- Omsan Logistics
- Mars Logistics
- Netlog Logistics
- Borusan Logistics
- Reysas Logistics
- Horoz Logistics
- Armada Logistics)
Reasons to Purchase Turkey Freight & Logistics Market Report:Analyzing various perspectives of the market, with the help of Porterâs five forces analysisDetailed analysis of the segment that is expected to dominate the marketRegions that are expected to witness the fastest growth, during the forecast periodIdentify the latest developments, market shares, and strategies employed by the major market players3-month analyst support, along with the Market Estimate sheet (in excel)Turkey Freight & Logistics Market
Geographically, this Global report majorly split into several regions, covering
- North – South America
- Asia – Pacific
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The Turkey Freight and Logistics Report provides the landscape and growth with the product lifecycle over the coming years, market space, market opportunities, market risk, the market overview of the Turkey Freight and Logistics. It explains the gap between supply and consumption, tables and figures, SWOT analysis of the leading enterprises in the Turkey Freight and Logistics Report. Further, the Turkey Freight and Logistics Report is examined for price, cost and gross. Additionally, it provides a valuable source of suggestions and direction for enterprises and individuals who are taking part in this market.