Authored By: Sarah
27 Sep 2023

 Market revenue of USD 1359.79 Mn forecasted for 3PL Market in Singapore through 2023-2027  

Rising import-export activity on sea lanes, increasing last-mile delivery services, and a strong presence of distribution networks are propelling the market advancement of the 3PL Market in Singapore. The market is estimated to grow at a CAGR of 6.1% between 2022 and 2027 followed by a staggering revenue growth of USD 1,359.79 million.

The market segmentation can be classified by service (transportation, warehousing and distribution, and value-added services) and end-user (manufacturing, automotive, consumer goods, food and beverage, and others). Technavio has been monitoring the growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. 

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 Snapshot of 3PL Market in Singapore

3PL Market in Singapore: Growing import-export activity on sea lanes to Drive Growth

The rising import and export of raw materials for food and mass products is notably driving the growth of the 3PL market in Singapore.

“As per the data published by the International Chamber of Shipping, about 11 billion tons of goods are transported on ships every year.”

Globalization has led to a significant increase in trade around the world. Machinery and transport equipment and petroleum are Singapore's major imports, while refined petroleum products are its largest exports. China, the United States, Indonesia, Malaysia, and Japan are the most important trading partners.

3PL Market In Singapore: Core Companies

When it comes to the leading companies in this market, names worth mentioning are Agility Public Warehousing Co. K.S.C.P, Bertschi AG, CEVA Logistics AG, CWT Pte. Ltd., DB Schenker, Deutsche Post AG, GEODIS SA, Kuehne Nagel Management AG, MXHL Pte Ltd., Naigai Nitto Singapore Pte Ltd., Ninja Van Group, Nippon Express Holdings Inc., Rhenus SE and Co. KG, SDR LOGISTICS PTE. LTD., Singapore Post Ltd., Toll Holdings Ltd., United Parcel Service Inc., Whitebox Pte Ltd., XPO Logistics Inc., Yang Kee Logistics Pte. Ltd., etc. Technavio's report includes qualitative and quantitative analyses of core companies with a wider understanding of the business ecosystem as well as the strengths and weaknesses of key market players Request for a sample report for more insights.

Browse through some related reports of the region for more insights: Singapore Automotive Market by Propulsion, Vehicle Type, Type , and Geography - Forecast and Analysis 2023-2027

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