Singapore Third Party Logistics (3PL) Market Introduction and Overview
According to SPER Market Research, the Singapore Third Party Logistics (3PL) Market is estimated to reach USD 8.06 billion by 2033 with a CAGR of 6.61%.
The report includes an in-depth analysis of the Singapore Third Party Logistics (3PL) Market, including market size and trends, product mix, applications, and supplier analysis. Third-party logistics (3PL) is the process of transferring logistics operations and supply chain management to external service providers. These providers manage a wide range of logistical services on behalf of enterprises, allowing them to focus on their core competencies while benefiting from the experience of specialist logistics firms. 3PLs play an increasingly essential part in today's complicated and multinational supply chains. Companies typically struggle to manage their own logistics because to variable demand, the necessity for quick delivery, and the complexities of international shipping. Businesses that outsource these activities to a 3PL provider receive access to advanced technology, industry knowledge, and scalable infrastructure, all of which increase supply chain efficiency and save costs.
- March 2021; Bureau Veritas has launched a remote inspection solution that utilizes technology to expand quick remote inspection in the hard context of carbon emissions. The corporation improved its business portfolio, resulting in increased profit and income.
- September 2020; Intertek Group plc and Baker Hughes have announced a strategic agreement to provide cargo treatment chemical services for gasoline and bulk cargo. The alliance offers a comprehensive solution for inspection, testing, and additive treatment services. This alliance increased the global footprint for quick service and response added to petroleum cargos at terminals, refineries, and ports.
Market Opportunities and Challenges
Opportunities- Several main reasons have contributed to the tremendous expansion of Singapore's third-party logistics (3PL) market. One of the main development drivers is the expansion of e-commerce. With the advent of online retail, businesses are increasingly relying on 3PL providers to handle inventory management, storage, and last-mile delivery services, which are critical in satisfying the demands of consumers who anticipate rapid and dependable delivery. This e-commerce boom is driven in large part by fast internet penetration and rising smartphone usage. Technological advances are also crucial to the growth of the 3PL industry. Automation, artificial intelligence, machine learning, and data analytics are revolutionizing logistics operations. These technologies help to expedite procedures like order management, inventory tracking, and transportation, making 3PL services more efficient.
Challenges- High infrastructure costs are a significant obstacle to the expansion of Singapore's 3PL market. Creating the essential logistical infrastructure, such as port facilities, warehouses, and multimodal transportation networks, demands a significant investment. For example, sustaining effective supply chains by integrating road, rail, and sea lines necessitates significant expenditures in specialist equipment such as gantry cranes and dedicated transportation links. These high costs could hinder the growth and scalability of logistics services, especially for smaller businesses or new entrants to the market. This financial load impairs 3PL providers' capacity to extend their capabilities efficiently and minimize operating expenses, restricting overall market growth potential.
Market Competitive Landscape
The Singapore Third Party Logistics (3PL) Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are Desutche Post DHL Group, DB Schenkar, Ceva Logistics, YCH Group Pte Ltd, Keppel Logistics Pte Ltd, Cwt Ltd, Agility Logistics, Toll Group, Nippon Express, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Service, By End User |
| Regions covered | North-East, Central, West, East, North
|
| Companies Covered | Desutche Post DHL Group, DB Schenkar, Ceva Logistics, YCH Group Pte Ltd, Keppel Logistics Pte Ltd, Cwt Ltd, Agility Logistics, Toll Group, Nippon Express, Others. |
COVID-19 Impact on Singapore Third Party Logistics (3PL) Market
The COVID-19 pandemic had a significant influence on Singapore's third-party logistics (3PL) business, disrupting operations and hastening digital transformation. One of the most notable repercussions was a shift in supply chain management practices designed to promote resilience in the face of global disruption. The pandemic highlighted the importance of strong supply chains, particularly in industries such as healthcare, where the import and distribution of vaccinations required precise logistics. The epidemic also underlined the significance of agility and visibility in supply chains, necessitating real-time tracking, improved inventory control, and digital solutions for logistical operations. The pandemic also pushed trends such as business-to-consumer (B2C) e-commerce, prompting logistics companies to upgrade their digital infrastructure to handle larger volumes of tiny, diverse orders.
Key Target Audience
- E-Commerce Companies
- Manufacturers
- Retailers
- Healthcare and Pharmaceuticals
- Food and beverage Companies
- Automotive Industry
- Technology Companies
Our in-depth analysis of the Singapore Third Party Logistics (3PL) Market includes the following segments:
| By Service: | Domestic Transportation ManagementInternational Transportation ManagementWarehousing and DistributionValue-Added Services and Others |
| By End User: | Consumer and Retail (E-commerce, Apparel, and Garment Sectors, Perishables, etc.)Healthcare and PharmaceuticalsOil and Gas, Petrochemicals and ChemicalsOther End Users |
| By Region: | North-EastCentralWestEastNorth |
Key Topics Covered in the Report
- Singapore Third Party Logistics Market Size (FY’2024-FY’2033)
- Overview of Singapore Third Party Logistics Market
- Segmentation of Singapore Third Party Logistics Market by Service (Domestic Transportation Management, International Transportation Management, Warehousing and Distribution, Value-Added Services and Others)
- Segmentation of Singapore Third Party Logistics Market 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)
- Statistical Snap of Singapore Third Party Logistics Market
- Expansion Analysis of Singapore Third Party Logistics Market
- Problems and Obstacles in Singapore Third Party Logistics Market
- Competitive Landscape in the Singapore Third Party Logistics Market
- Impact of COVID-19 and Demonetization on Singapore Third Party Logistics Market
- Details on Current Investment in Singapore Third Party Logistics Market
- Competitive Analysis of Singapore Third Party Logistics Market
- Prominent Players in the Singapore Third Party Logistics Market
- SWOT Analysis of Singapore Third Party Logistics Market
- Singapore Third Party Logistics Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Singapore Third Party Logistics (3PL) Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Singapore Third Party Logistics (3PL) Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Singapore Third Party Logistics (3PL) Market
7. Singapore Third Party Logistics (3PL) Market, By Service (USD Million) 2020-2033
7.1. Singapore Third Party Logistics (3PL) Market Size, Share and Forecast, By Service, 2020-2026
7.2. Singapore Third Party Logistics (3PL) Market, Share and Forecast, By Service, 2027-2033
7.3. Domestic Transportation Management
7.4. International Transportation Management
7.5. Warehousing and Distribution
7.6. Value-Added Services and Others
8. Singapore Third Party Logistics (3PL) Market, By End User (USD Million) 2020-2033
8.1. Singapore Third Party Logistics (3PL) Market, Share and Forecast, By End User, 2020-2026
8.2. Singapore Third Party Logistics (3PL) Market, Share and Forecast, By End User, 2027-2033
8.3. Consumer and Retail (E-commerce, Apparel, and Garment Sectors, Perishables, etc.)
8.4. Healthcare and Pharmaceuticals
8.5. Oil and Gas, Petrochemicals and Chemicals
8.6. Other
9. Singapore Third Party Logistics (3PL) Market Forecast, 2020-2033 (USD Million)
9.1. Singapore Third Party Logistics (3PL) Market Size and Market Share
10. Singapore Third Party Logistics (3PL) Market, By Region, 2020-2033 (USD Million)
10.1. Singapore Third Party Logistics (3PL) Market Size and Market Share By Region (2020-2026)
10.2. Singapore Third Party Logistics (3PL) Market Size and Market Share By Region (2027-2033)
10.3. North-East
10.4. Central
10.5. West
10.6. East
10.7. North
11. Company Profile
11.1. DESUTCHE POST DHL GROUP
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. DB SCHENKER
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. CEVA LOGISTICS
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. YCH GROUP PTE LTD
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. KEPPEL LOGISTICS PTE LTD
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. CWT LTD
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. AGILITY LOGISTICS
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. TOLL GROUP
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. NIPPON EXPRESS
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links