Singapore Logistics Industry Outlook to 2028

Driven by Driven by growing investment in transport infrastructure and transformation towards digital economy

Region:Asia

Author(s):Himanshi Kalota and Abhay Shukla

Product Code:KR1321

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Published on

June 2023

Total pages

136

About the Report

About the Report

The report provides a comprehensive analysis of the potential of Logistics Industry in Singapore. The report covers an overview and genesis of the industry, market size in terms of revenue generated.

The report has market segmentation which include segments by service mix, by mode of freight, by mode of transport, by end users, by type of warehouse, by shipments, and more; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with each market segmentation's future projections and analyst recommendations.

Logistics Industry in Singapore

Market Overview:

According to Ken Research estimates, the Market Size of Singapore Logisticshas shown increasing trend from 2019 to 2022. The Singapore logistics sector supports the second-largest economy on the continent, and is relatively sophisticated. Local and international companies use Singapore as gateway for their operations into Africa. The logistics operators are making significant investments in automation and digitalization in order to address security concerns, improve loss prevention as well as efficiency.

Singapore Logistics Market Revenue

  • The government is focusing on sustainable development of the country with the introduction of automated and sustainable products. Sustainable technologies are integral to the new Tuas Port, which will become the world's largest automated container terminal when its fourth and final phase will be completed in 2040.
  • Singapore Logistics Association (SLA) has begun piloting the use of Automated Guided Vehicles (AGVs) with local robotics firm Hope Technik in a third-party logistics (3PL) warehouse. It will help not only to reduce cost but also to minimize human errors and reduce time lags.


Key Trends by Market Segment:

By Type of Freight: Sea Freight dominates the Freight Market contributed highest owing to the affordability and accessibility of using sea freight players.

Singapore Logistics Market Segmentation By Type of Freight

By Warehouse Business Model: Industrial/ Retail Warehouses dominated the Singapore Warehouse market in 2021by capturing maximum Mn sqm.

Competitive Landscape:

There are about 2,500 freight companies in Singapore with majority of them offering sea and road freight services in the country. Singapore cold chain market is moderately fragmented with top 4-5 players contribute more than 50% of pallet capacity and players like Jurong and ACW are looking to expand their pallet capacity. Singapore logistics industry is catered by the domestic and international players and Singapore Post, CWT, YCH group are the top players offering Freight, Warehousing, Cold Chain and CEP services.

Ecosystem of Singapore Logistics Market

Future Outlook:

Market Size of Singapore Logistics is expected to show increasing trend from 2022 to 2028. The rapid shift of distribution of food products from traditional markets toward supermarkets and convenience stores is increasing the need for reefer trucks as major distributors hire 3PL for shipping via insulated trucks.

The covid vaccines imported from other nations are to be stored at subzero temperatures and distributed to the population. Players like FedEx has utilized its cold chain facilities in Singapore in response to growing demand in Southeast Asia for COVID-19 vaccines. Also, Value-added services are expected to increase due to the increase in CEP and E-commerce and Warehousing services where VAS such as sorting, and packaging are used.

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Scope Of The Report

Scope of the Report

Singapore Logistics Market Segmentation

By Service Mix

Freight Forwarding

Warehousing

Courier, Express Parcel Market

Cold Chain

Singapore Freight Forwarding Market Segmentation

By Mode of Transport

Sea

Road

Air

Rail

By type of Freight End Users

Retail

Automobile

Pharma

Others

Singapore Warehouse Market Segmentation

By Business Model

Industrial/Retail Warehouses

CFS/ICD Warehouses

Cold Storage

Agriculture and Other Warehouses

By End-Users

Retail including Garments, Cosmetics

Automotive & Engineering

E- Commerce

Pharma/ Healthcare

Others

Singapore CEP Market Segmentation

By Domestic/ International Shipments

Domestic Shipment

International Shipment

By End-Users

E-Commerce

Retail

Others

                                  Singapore Cold Chain Market Segmentation

Cold Chain

Cold Storage

 

Cold Transport

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Products

Products

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report: 

  • E-commerce Companies
  • Third-Party Logistic Providers
  • Potential Market Entrants
  • Freight Forwarding Companies
  • Warehousing Companies
  • Cold Storage Companies
  • Industry Associations
  • Consulting Agencies
  • Government Bodies & Regulating Authorities

 
Time Period Captured in the Report:

  • Historical Period: 2019-2022
  • Base Year: 2022
  • Forecast Period: 2022-2028


Companies

Major Players Mentioned in the Report: 

  • Poh Tiong Choon Logistics Limited
  • CWT Pte Ltd.
  • CEVA Logistics Singapore Pte Ltd
  • Geodis Singapore Pte Ltd1
  • DHL Express (Singapore) Pte Ltd
  • DSV
  • Yusen Logistics (Singapore) Pte Ltd.
  • YCH Group Pte Ltd
  • Yamato Transport (S) Pte Ltd
  • Federal Express (Singapore) Pte Ltd
  • ACW Logistics Pte Ltd
  • Singapore Post Limited
  • Richland Logistics Services Pte Ltd
  • Storbest SSHK Cold Logistics
  • Global Cold Chain Solutions1
  • ST Logistics

Table of Contents

Table of Contents

1. Executive Summary

1.1 Executive Summary – Singapore Logistics Market 

2. Country Overview

2.1 Country Overview of Singapore

2.2 Singapore Population Analysis (Population by Gender, Ethnic Composition, and Age)

2.3 Internet Population and Smart Phone Penetration 

2.4 Cross Comparison of Quality of Infrastructure of ASEAN Countries

2.5 Cross-Comparison of Logistic Sector of ASEAN Countries

3. Infrastructural Analysis

3.1 Singapore as a Trans-shipment Hub

3.2 Singapore Road Transport Overview 

3.3 Singapore Sea Transport Overview 

3.4 Singapore Sea Transport Overview 

4. Singapore Logistics Market Size Analysis, 2019 - 2028

4.1 Ecosystem – Singapore Logistics Market

4.2 Singapore Logistics Market Size Analysis. 2019-2022

4.3 Growth Drivers and Trends in the Singapore Logistics Market 

4.4 Issues and Challenges in the Singapore Logistics Market

4.5 Singapore Logistics Future Market Size Analysis. 2022-2028

5. Singapore Freight Market Size Analysis, 2019 - 2028

5.1 Ecosystem – Freight Companies in Singapore

5.2 Value Chain of Freight Market in Singapore

5.3 Freight Market Size, 2019-2022

5.4 Type of Lorries used in Singapore Logistics Market 

5.5 Singapore Freight Market by Mode of Transport, 2022

5.6 Market Segmentation – Type of Freight, 2022

5.6 Cross-Border Road Freight Scenario from Singapore to Thailand, Malaysia, Vietnam and China 

5.7 Pain Points of Freight Industry in Singapore

5.8 Freight Future Market Size, 2022-2028

5.9 Future Market Segmentation – Type of Freight

6. Singapore Warehousing Market Size Analysis, 2019-2028

6.1 Value Chain Analysis – Warehousing Market in Singapore

6.2 Market Size Analysis of Singapore Warehousing Market, 2019-2022 

6.3 Region Wise Analysis of Singapore Cold Chain Market, 2022

6.4 Value Added Services Offered and Pricing by Warehousing Players in Singapore

6.5 Market Size Analysis of Singapore Warehousing Market, 2022-2028

7. Singapore Cold Chain Market Size and Segmentation, 2022

7.1 Ecosystem of Singapore Cold Chain Market

7.2 Value Chain Analysis of Singapore Cold Chain Market

7.3 Market Size Analysis of Singapore Cold Chain Market, 2018-2022

7.4 Market Segmentation Analysis By End Users of Cold Chain Market, 2022

7.5 Market Segmentation Analysis of Cold Storage by Region, 2022

7.6 Key Finding in The Singapore Cold Storage Market

7.7 Singapore Cold Storage Market Segmentation by Temperature Range and Automation, 2022

7.8 Market Size Analysis of Singapore Cold Transportation Market, 2019-2022

7.9 Future Market Size Analysis of Singapore Cold Chain Market, 2022-2028

7.10 Future Market Segmentation Analysis by End Users of Cold Chain Market and 

7.11 Cold Storage Market Segmentation Region, 2028

7.12 Future Market Size of Singapore Cold Storage Market by Revenue, 2022 to 2028

7.13 Singapore Cold Storage Future Market Segmentation by Temperature Range and Automation, 2028

7.14 Future Market Size Analysis of Singapore Cold Transportation Market, 2022-2028

8. Singapore Courier and Parcel Market Size Analysis, 2019-2028

8.1 Ecosystem of Courier, Express and Parcel Players in Singapore

8.2 Singapore E-commerce Logistics Market, 2019-2022

8.3 Singapore Courier and Parcel Logistics Market, 2019-2022

8.4 Singapore Courier and Parcel Logistics Future Market Analysis, 2022-2028

8.5 Growth Drivers of CEP Market in Singapore

8.6 Constraints in the Singapore E-Commerce Logistics Market

9. Industry Analysis

9.1 Market Dynamics (Drivers, Restraints and Opportunities)

9.2 Porter’s Five Force Analysis for Singapore Logistics Market

9.3 Logistics Costs Trends in Singapore, 2022

9.4 Impact of COVID-19 on Singapore Logistics

9.5 Stage of Developments in Singapore Logistics and Technological Innovations in Singapore

10. Governments Regulation and Initiatives for the industry

10.1 Regulatory Landscape of Singapore Cold Chain Market

10.2 Regulation of Singapore Cold Chain through SS 668

10.3 Singapore Government Initiatives for Logistics Industry 

11. Competition Overview

11.1 Competition Scenario of Singapore Logistics Market

11.2 Market Positioning Analysis of Logistics Players in Singapore

11.3 Cross Comparison of Singapore Logistics Market Players 

11.4 Value Added Services Offered by the Logistics Players in Singapore 

11.5 Profitability Analysis of Singapore Logistics Market Player, 2021 

12. End User Analysis

12.1 In-Depth Analysis End Users in Singapore

12.2 Singapore – End Users Analysis 

12.3 Singapore – Manufacturing Market

12.4 Singapore – Automotive Market

12.5 Singapore – Oil and Gas, Mining and Quarrying

12.6 Singapore – Construction

12.7 Singapore – Agriculture, Fishing and Forestry

12.8 Singapore – Wholesale and Retail Trade Market

12.9 Singapore – Food & Beverages Mar

12.10 Singapore – Healthcare and Pharmaceuticals Market 

13. Analyst Recommendations

13.1 Adoption of an Amalgamation of Integrated & 3PL Model to Penetrate into the Market

13.2 Recommendations For Investors and Landlords

13.3 Preferred Regional Locations in Singapore

13.4 Recommendations to set up a Cold Chain Unit in Singapore

13.5 Competitive Positioning and Opportunity Area for the Entrants

13.6 Ideal Pricing Strategy Recommendations

13.7 Emerging Technological Advancements in Singapore 

13.8 Adoption of Technological Advancements in Business Operation

14. Appendix

14.1 GDP Distribution by Activity

14.2 Capital Inflows

14.3 Transportation and Storage Sector Contribution to the Economy

14.4 Export and Import by Product in Singapore, 2022

15. Research Methodology

15.1 Market Definitions and Assumptions and Abbreviations

15.2 Market Sizing Approach

15.3 Consolidated Research Approach

15.4 Sample Size Inclusion

15.5 Primary Research Approach

15.6 Limitation and Future Conclusion

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Research Methodology

Research Methodology

Step 1: Identifying Key Variables:

Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.

Step 2: Market Building:

Collating statistics on logistics over the years, penetration of marketplaces and service providers ratio to compute revenue generated for logistics services. We will also review service quality statistics to understand revenue generated which can ensure accuracy behind the data points shared.

Step 3: Validating and Finalizing:

Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.

Step 4: Research output:

Our team will approach multiple logistics and warehousing services providing channels and understand nature of product segments and sales, consumer preference and other parameters, which will support us validate statistics derived through bottom to top approach from logistics and warehousing providers.

Research Methodology for Singapore Logistics Market

Frequently Asked Questions

Frequently Asked Questions

01 How big is the logistics industry in Singapore?

Singapore Logistics Industry market size was estimated at $61.7 billion in 2022

02 Who are the key players in Singapore Logistics Market?

CEVA Logistics Singapore, DHL Express, Singapore Post, ST Logistics are some of the key players in Singapore Logistics market

03 How big is the 3PL market in Singapore?

Revenue in the Third Party Logistics is expected to reach ~$5bn in 2023, which is expected to grow at an annual rate of 4.94%

04 How many companies are there in Singapore Logistics market?

There are 2,500 logistics companies in Singapore

05 Why Singapore Logistics market is growing?

Singapore Logistics market has witnessed tremendous growth with increased import & export activities & the expansion of Ecommerce industry

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