Singapore Logistics Industry Outlook to 2028

Singapore Logistics Industry Outlook to 2028

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 future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, the Market Size of Singapore Logistics has 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.
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.

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

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.

Please Note: It will take 5-7 business days to complete the report upon order confirmation