Third-party logistics players (3PLs) remain by far the top occupiers of warehousing space, contributing to over half of the total warehousing demand till date. Improved retail market sentiment amidst festive season and higher online spending continue to support warehousing growth, and is expected to add to short-term demand addition.
- Delhi-NCR led the market with a 39% share in leasing as well as supply
- Third-party logistics players accounted for half of the absorption during YTD2022
- Vacancy levels declined 0.7pp amidst robust demand