Asia Pacific Transport and Logistics 2014
Consequently, international companies are expanding into this region to benefit from this trend and the resulting growth potential. China is at the centre of this emerging “New Asia” as low based manufacturing exits the country it is moving to such places as Vietnam, Cambodia, Laos and “frontier markets” such as Myanmar and Bangladesh.
As a result of the region's shifting trends, from 2013 to 2017 Asia Pacific is likely to expand its share in the global freight forwarding market while at the same time Europe and North America are likely to experience declines.
With this in mind, and with the prospect of considerable investment in the region's infrastructure, logistics providers are eagerly looking to take advantage of these changes by expanding their presence in this region.
Ti forecasts that by 2017 Asia Pacific will account for over one third of the global contract logistics market and will likely expand its share of the global freight forwarding market - at the same time Europe and North America will likely see market share declines.
As market growth gains momentum, considerable investment in infrastructure projects continues throughout the region to meet the growing needs of both domestic, cross-border and international demand.
The investment in the re-emergence of the famed ‘Silk Road' route connecting Asia Pacific with the Middle East and East Africa is just one such development that signals the progression of the region's supply chain requirements.