Singapore 3PL Market Size

Singapore Third Party Logistics (3PL) Market Analysis

The Singapore 3PL Market size is estimated at USD 5.48 billion in 2024, and is expected to reach USD 6.61 billion by 2029, growing at a CAGR of 3.81% during the forecast period (2024-2029).

Due to the impact of Covid-19 the market is expected to witness significant fall in revenue in 2020.

• With the rise of highly diversified cross-border production, Singapore plays an integral role in the regional and global supply chains, with heavy reliance on foreign contents in its exports and production.
• As Singapore is a regional hub, it is a preferred location for manufacturers who can have support from the ecosystem of leading shippers and third-party logistics providers (3PLs) in the country. The manufacturing companies base their supply chain control towers and distribution centers in Singapore, in order to orchestrate their regional and global supply chains.
• E-commerce is one of the major factors driving the market growth. The country has been the choice for e-commerce players to establish their footprint when entering the Southeast Asian region. The emergence of e-commerce in recent years has boosted the growth of the 3PL market.
• Changi Airport has consistently maintained its position as one of the region's key hubs for air cargo by being in the top 10 largest airports in the world for international air cargo traffic. The Airport Logistics Park of Singapore (ALPS) with sizeable facilities has leading global third-party logistics companies (3PLs) which support the growth of the market. Around twenty of the world's top 25 third-party logistics companies have presence in Singapore.