Market Size of Singapore 3PL Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 5.48 Billion |
| Market Size (2029) | USD 6.61 Billion |
| CAGR (2024 - 2029) | 3.81 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Singapore Third Party Logistics (3PL) Market Analysis
The Singapore 3PL Market size is estimated at USD 5.48 billion in 2024, and is expected to reach USD 6.61 billion by 2029, growing at a CAGR of 3.81% during the forecast period (2024-2029).
Due to the impact of Covid-19 the market is expected to witness significant fall in revenue in 2020.
- With the rise of highly diversified cross-border production, Singapore plays an integral role in the regional and global supply chains, with heavy reliance on foreign contents in its exports and production.
- As Singapore is a regional hub, it is a preferred location for manufacturers who can have support from the ecosystem of leading shippers and third-party logistics providers (3PLs) in the country. The manufacturing companies base their supply chain control towers and distribution centers in Singapore, in order to orchestrate their regional and global supply chains.
- E-commerce is one of the major factors driving the market growth. The country has been the choice for e-commerce players to establish their footprint when entering the Southeast Asian region. The emergence of e-commerce in recent years has boosted the growth of the 3PL market.
- Changi Airport has consistently maintained its position as one of the region's key hubs for air cargo by being in the top 10 largest airports in the world for international air cargo traffic. The Airport Logistics Park of Singapore (ALPS) with sizeable facilities has leading global third-party logistics companies (3PLs) which support the growth of the market. Around twenty of the world's top 25 third-party logistics companies have presence in Singapore.
Singapore Third Party Logistics (3PL) Industry Segmentation
A complete background analysis of the Singaporean Third-Party Logistics (3PL) market, which includes an assessment of the economy, market overview, market size estimation for key segments, and emerging trends in the market, market dynamics, and key company profiles are covered in the report. The impact of COVID-19 has also been incorporated and considered during the study.
| By Service | |
| Domestic Transportation Management | |
| International Transportation Management | |
| Warehousing & Distribution | |
| Value-addded Services and Others |
| By End User | |
| Consumer and Retail (E-commerce, Apparel, and Garment Sectors, Perishables, etc.) | |
| Healthcare and Pharmaceuticals | |
| Oil and Gas, Petrochemicals and Chemicals | |
| Other End Users |
Singapore 3PL Market Size Summary
The third-party logistics (3PL) market in Singapore is poised for growth, driven by its strategic position as a regional hub in global supply chains. The country's role as a key player in cross-border production and its reliance on foreign content for exports and production underscore its importance in the logistics sector. Singapore's ecosystem, supported by leading shippers and 3PL providers, makes it an attractive location for manufacturers to establish supply chain control towers and distribution centers. The burgeoning e-commerce sector, with Singapore as a preferred entry point for e-commerce players into Southeast Asia, significantly contributes to the market's expansion. The presence of major global 3PL companies and the strategic location of Changi Airport, a top hub for international air cargo, further bolster the market's growth prospects.
The warehousing market in Singapore is well-developed, characterized by a steady supply of space and technological advancements. The trend towards multi-storey warehouses addresses space constraints, offering cost-effective solutions. Despite a downward trend in warehouse rents due to increased supply, the demand for warehousing space is expected to grow, driven by regional trade and e-commerce expansion. The 3PL market is highly competitive, with a mix of global players like DHL and Kuehne + Nagel, alongside significant local companies such as YCH and Keppel. This competitive landscape is further enriched by the emergence of startups, particularly in the e-commerce fulfillment sector, leveraging technological advancements to meet evolving market demands.
Singapore 3PL Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Current Market Scenario
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1.2 Technological Trends
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1.3 Government Regulations
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1.4 Brief on E-Commerce Sector in Singapore (Domestic and Cross-border)
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1.5 Spotlight - Freight Transportation Costs/Freight Rates
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1.6 Review and Commentary on Singapore's Relation with Other ASEAN Countries (Analyst's View)
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1.7 Spotlight - Role of Singapore as a Transshipment Hub
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1.8 Impact of Covid-19 on Singapore 3PL Market
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2. MARKET SEGMENTATION
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2.1 By Service
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2.1.1 Domestic Transportation Management
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2.1.2 International Transportation Management
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2.1.3 Warehousing & Distribution
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2.1.4 Value-addded Services and Others
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2.2 By End User
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2.2.1 Consumer and Retail (E-commerce, Apparel, and Garment Sectors, Perishables, etc.)
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2.2.2 Healthcare and Pharmaceuticals
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2.2.3 Oil and Gas, Petrochemicals and Chemicals
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2.2.4 Other End Users
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Singapore 3PL Market Size FAQs
How big is the Singapore 3PL Market?
The Singapore 3PL Market size is expected to reach USD 5.48 billion in 2024 and grow at a CAGR of 3.81% to reach USD 6.61 billion by 2029.
What is the current Singapore 3PL Market size?
In 2024, the Singapore 3PL Market size is expected to reach USD 5.48 billion.
