Report | Future Cities

India Industrial and Logistics Figures H2 2024

January 29, 2025 5 Minute Read

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Surpassing previous year’s record, the overall space take-up exceeded 39 million sq. ft. in 2024 in the I&L sector. This was driven by a revival in demand from leading e-commerce companies, the expansion of quick-commerce operators, and the aggressive growth initiatives by third-party logistics (3PL) and fast-moving consumer goods (FMCG) players.

 

Listed below are a few broad trends observed in H2 (July to December) 2024:

–         I&L space take-up stood at 23.0 million sq. ft. in H2 2024, recording 17% Y-o-Y growth.

–         Delhi-NCR, Bengaluru and Kolkata cumulatively accounted for almost 60% of the overall absorption.

–         3PL players continued to drive India’s I&L leasing activity with a ~42% share, followed by engineering and manufacturing (E&M) firms (~18%), retail companies (~10%), and e-commerce tenants (~10%).

–         Supply addition increased by about 12% Y-o-Y to reach 20.3 million sq. ft.

–         Mumbai, followed by Chennai and Bengaluru, dominated the supply additions, together accounting for more than half of the project completions.

 

To delve deeper into our India-level I&L real estate market analysis and gain insights into city-specific dynamics, please click the download button.