Report Overview

Singapore Freight and Logistics Market – Industry Trends & Forecast Report, 2029

Singapore freight and logistics market size was estimated at USD 1.13 billion in 2022. During the forecast period between 2023 and 2029, the size of Singapore freight and logistics market is projected to grow at a CAGR of 6.5% reaching a value of USD 1.75 billion by 2029. The major factor driving the growth of Singapore freight and logistics market is a growing emphasis on digitalization and technology adoption. The industry has embraced automation, artificial intelligence, and blockchain to enhance operational efficiency and supply chain visibility. Also, sustainability has become a key focus, with companies increasingly adopting eco-friendly practices and implementing green logistics solutions. Further, e-commerce and cross-border trade have surged, driving the demand for efficient last-mile delivery and fulfillment services. The COVID-19 pandemic has accelerated the shift towards e-commerce and spurred innovations in contactless delivery and logistics solutions. These trends collectively indicate a dynamic and evolving freight and logistics landscape in Singapore.

Singapore Freight and Logistics Market - Overview

Freight and logistics refers to the management and transportation of goods from one location to another. It encompasses various activities, including warehousing, inventory management, packaging, transportation, and distribution. The industry plays a crucial role in global trade, ensuring the efficient movement of goods across supply chains. Freight and logistics companies employ advanced technologies and strategies to optimize routes, reduce costs, and enhance delivery timelines. Key players in this sector include shipping lines, air cargo carriers, trucking companies, and third-party logistics providers. With the growth of e-commerce and international trade, the freight and logistics industry continues to evolve and adapt to meet the increasing demands of businesses and consumers.

Growth Drivers

Digitization and E-commerce Surge Propelling Freight & Logistics Market Growth in Singapore

In recent years, the Singapore freight and logistics market has witnessed an impressive growth trajectory, driven by a powerful growth driver: digitization and the surge in e-commerce activities. The increasing popularity of online shopping and cross-border trade has created a significant demand for efficient and seamless freight and logistics services in Singapore. The adoption of advanced technologies like blockchain, artificial intelligence, and Internet of Things (IoT) has revolutionized the industry, enhancing supply chain visibility, optimizing operations, and reducing costs. Further, Singapore's strategic location as a regional hub, coupled with its robust infrastructure and pro-business environment, fuels its position as a key player in the global freight and logistics market.

Restraints

Evolving Infrastructure and Labor Challenges

In the dynamic landscape of the Singapore freight and logistics market, several restraints are emerging that pose significant challenges. The first restraint is the evolving infrastructure, as the demand for seamless connectivity and efficient transport networks continues to increase. Insufficient infrastructure upgrades and congestion issues at ports and airports hinder the sector's growth potential. Also, labor challenges contribute to the constraints, including a shortage of skilled personnel and rising labor costs. These restraints necessitate strategic investments in infrastructure development, automation, and talent acquisition, alongside effective government policies and collaborations with industry stakeholders, to sustain the growth and competitiveness of the Singapore freight and logistics market.

Impact of COVID-19 on Singapore Freight and Logistics Market

The COVID-19 pandemic significantly affected the Singapore freight and logistics market. The industry faced challenges due to disruptions in global trade and restrictions on travel and movement. With reduced demand and manufacturing activities, cargo volumes decreased, leading to revenue losses for logistics providers. Also, logistical operations were affected by supply chain disruptions, including labor shortages and delays in transportation. The sector had to adapt quickly to stringent health and safety protocols, implement digital solutions, and prioritize essential goods' transportation. While the market gradually recovered as restrictions eased, the pandemic highlighted the need for resilience, agility, and technological advancements within the Singapore freight and logistics industry.

Singapore Freight and Logistics Market

Segmental Coverage

Singapore Freight and Logistics Market – By Shipping Type

On the basis of shipping type, Singapore freight and logistics market is divided into Roadways, Railways, Waterways, and Airways segments. The roadways segment is the largest shipping type in the Singapore freight and logistics market. Road transport plays a vital role in the country's logistics landscape, catering to both domestic and international cargo movements. Singapore's well-developed road infrastructure and efficient transportation network contribute to the dominance of the roadways segment. It provides the flexibility, convenience, and accessibility required for the timely delivery of goods. While railways, waterways, and airways also have their significance, the roadways sector stands out due to its extensive coverage, cost-effectiveness, and ability to reach diverse locations, making it the largest segment in the Singapore freight and logistics market.

Singapore Freight and Logistics Market – By Services

Based on services, Singapore freight and logistics market is divided into Inventory Management, Packaging, Warehousing, Transportation, Distribution, and Custom Clearance segments. The warehousing segment stands out as one of the largest and most significant services. Warehousing plays a crucial role in the logistics chain by providing storage facilities for goods and managing inventory. Singapore, known for its robust trade and transportation infrastructure, relies heavily on efficient warehousing services to support its thriving freight industry. The demand for warehousing solutions continues to grow due to Singapore's strategic location as a global logistics hub, attracting businesses engaged in international trade and distribution.

Singapore Freight and Logistics Market – By End-Use Industry

By end-use industry, Singapore freight and logistics market is divided into Agriculture, Fishing & Forestry, Construction, Manufacturing, Oil & Gas, Mining & Quarrying, and Wholesale & Retail Trade segments. The largest segment is the wholesale & retail end-use industry. This sector encompasses a wide range of activities related to the distribution and sale of goods, including both wholesale trade to businesses and retail trade to end consumers. Singapore's strategic location and status as a global trading hub have contributed to the growth and significance of this sector. The Wholesale and Retail Trade segment plays a crucial role in facilitating the movement of goods, ensuring their availability to businesses and consumers alike, and driving the overall economy of Singapore.

Competitive Landscape

Major players in the Singapore freight and logistics market include A.P. Moller – Maersk, C.H Robinson, CMA CGM, DB Schenker, Deutsche Post DHL Group, DP World, DSV, FedEx, GEODIS, and Kerry Logistics. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Recent Developments

• March 2021 - Collins Aerospace in Singapore awarded a two-year in-factory logistics support contract to the global logistics and supply chain company CEVA Logistics.

• March 2021 - Braskem partnered with the logistics firm A.P. Moller - Maersk and port operator PSA Corp. to open a new logistics hub in Singapore as it seeks to manage its polymers supply for the region better.

Scope of the Report

By Shipping Type

• Roadways

• Railways

• Waterways

• Airways

By Services

• Inventory Management

• Packaging

• Warehousing

• Transportation

• Distribution

• Custom Clearance

By End-Use Industry

• Agriculture

• Fishing & Forestry

• Construction

• Manufacturing

• Oil & Gas

• Mining & Quarrying

• Wholesale & Retail Trade

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Singapore Freight and Logistics Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increase in E-commerce
         2. Rising Expansion of International Trade and Globalization
      2. Restraints
         1. Inadequate Transportation Infrastructure
      3.  Opportunities
         1. Advancements in Technology
      4. Challenges
         1. Security and Risk Management Concern
   3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Singapore Freight and Logistics Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Shipping Type
         1. Roadways
         2. Railways
         3. Waterways
         4. Airways
      2. By Services
         1. Inventory Management
         2. Packaging
         3. Warehousing
         4. Transportation
         5. Distribution
         6. Custom Clearance
         7. Others
      3. By End-Use Industry
         1. Agriculture
         2. Fishing & Forestry
         3. Construction
         4. Manufacturing
         5. Oil & Gas
         6. Mining & Quarrying
         7. Wholesale & Retail Trade
         8. Others
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Singapore Freight and Logistics Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 on Singapore Freight and Logistics Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. A.P. Moller - Maersk
   2. C.H Robinson
   3. CMA CGM
   4. DB Schenker
   5. Deutsche Post DHL Group
   6. DP World
   7. DSV
   8. FedEx
   9. GEODIS
   10. Kerry Logistics
   11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1.       Qualitative Research
      1.   Primary & Secondary Research
   2.       Quantitative Research
   3.       Market Breakdown & Data Triangulation
      1.   Secondary Research
      2.   Primary Research
   4.       Breakdown of Primary Research Respondents, By Region
   5.       Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       Singapore Freight and Logistics Segmentation                 

Figure 2       Singapore Freight and Logistics Market Value Chain Analysis               

Figure 3       Company Market Share Analysis, 2022         

Figure 4       Singapore Freight and Logistics Market Size, By Value (USD Million), 2019–2029                  

Figure 5       Singapore Freight and Logistics Market Share, By Shipping Type, By Value, 2019–2029          

Figure 6       Singapore Freight and Logistics Market Share, By Services, By Value, 2019–2029                  

Figure 7       Singapore Freight and Logistics Market Share, By End Use Industry, By Value, 2019–2029          

List of Tables

Table 1        Singapore Freight and Logistics Market Size, By Value (USD Million), 2019–2029         

Table 2        Singapore Freight and Logistics Market Size, By Shipping Type, By Value, 2019–2029 

Table 3        Singapore Freight and Logistics Market Size, By Services, By Value, 2019–2029         

Table 4        Singapore Freight and Logistics Market Size, By End Use Industry, By Value, 2019–2029

Table 5        A.P. Moller - Maersk Company Overview

Table 6        A.P. Moller - Maersk Financial Overview

Table 7        C.H Robinson Company Overview

Table 8        C.H Robinson Financial Overview

Table 9        CMA CGM Company Overview

Table 10      CMA CGM Financial Overview

Table 11      DB Schenker Company Overview

Table 12      DB Schenker Financial Overview

Table 13      Deutsche Post DHL Group Company Overview

Table 14      Deutsche Post DHL Group Financial Overview

Table 15      DP World Company Overview

Table 16      DP World Financial Overview

Table 17      DSV Company Overview

Table 18      DSV Financial Overview

Table 19      FedEx Company Overview

Table 20      FedEx Financial Overview

Table 21      GEODIS Company Overview

Table 22      GEODIS Financial Overview

Table 23      Kerry Logistics Company Overview

Table 24      Kerry Logistics Financial Overview