Market Report
Warehousing & Logistics Sector Review H1 2023
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Key Insights
1
The sector witnessed 17% year-on-year growth, reaching 15.4 Mn sq ft
2
NCR led with 31% of total absorption in H1 2023, increased from 21% a year earlier
3
3PL companies continued to be the major demand driver in H1 2023 with 26% share
Key Takeaways
- Vertical stacking and in-city warehousing are gaining prominence to improve efficiency and reduce cost
- The emergence of tier-2 cities as warehousing hubs and extensive use of AI and ML technologies to improve efficiency may shape the future of the warehousing and logistics sector in India
- The ‘Make in India’ campaign and ‘China plus One’ strategy coupled with upcoming mega infrastructure projects may provide impetus to the Indian manufacturing industry, leading to an increase in demand for warehouses
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