High Benefits Offered by Third Party Logistics for Singapore, China, Hong Kong & Taiwan Third Party Logistics Market

Third party logistics is basically outsourced with operational logistics from warehousing to the delivery, which includes providing a number of services in the supply chain such as freight forwarding, packaging, order fulfillment, inventory forecasting, picking and packing, warehousing and transportation. Third party logistics offer wide range of benefits as it helps the business owners to focus more on the other aspects of business such as product development, marketing and sales. The high benefits offered by third party logistics are therefore acting as the major factor for boosting the growth of Singapore, China, Hong Kong & Taiwan third party logistics market. Therefore, the Singapore, China, Hong Kong & Taiwan third party logistics market is estimated to increase rapidly in the near future. Singapore, China, Hong Kong & Taiwan third party logistics market

Access Full Report @ https://www.databridgemarketresearch.com/reports/singapore-china-hong-kong-and-taiwan-third-party-logistics-market

Data Bridge Market Research analyses that the China Third Party Logistics Market is expected to reach USD 462,107.01 million by 2030 from USD 265,902.06 million in 2022, growing with a CAGR of 7.2% in the forecast period of 2023 to 2030. Taiwan third party logistics market is expected to reach USD 10,349.33 million by 2030 from USD 7,630.55 million in 2022, growing with a CAGR of 3.9% in the forecast period of 2023 to 2030. Singapore third party logistics market is expected to reach USD 6,148.33 million by 2030 from USD 4,041.96 million in 2022, growing with a CAGR of 5.4% in the forecast period of 2023 to 2030. Hong Kong third party logistics market is expected to reach USD 4,791.97 million by 2030 from USD 3,752.94 million in 2022, growing with a CAGR of 3.1% in the forecast period of 2023 to 2030.  Providers of third-party logistics (3PL) services have extensive supply chain management expertise, experience, and resources.

Key Findings of the Study

Rising Growth in Cross-Border Trade and Globalization

Globalization can be referred to as the interdependence of the world’s economies, populations and cultures brought about by cross-border trade in technology, goods and services and flows of people, investment and information. Today, most of the country’s economy is highly dependent on buying and selling of goods among various countries. Asia-Pacific region has been the major player in global trade and has a high volume of trade flow that has increased the requirement of third party logistics to make the flow of trade more convenient and faster, thus boosting the growth of Singapore, China, Hong Kong & Taiwan third party logistics market.

Report Scope and Market Segmentation

Segment Analysis:

The Singapore, China, Hong Kong & Taiwan third party logistics market is segmented into four notable segments, which are based on the media, material, end user, and sales channel.

• On the basis of service, Singapore, China, Hong Kong & Taiwan third party logistics market has been segmented supply chain management, domestic transportation management (DTM), warehousing, fulfilment and distribution (W&D), value-added logistics services (VALS), international transportation management (ITM) and dedicated contract carriage (DCC)/freight forwarders. In 2023, supply chain management segment is expected to dominate the China third party logistics market with 33.04% market share and is expected to reach USD 157,504.79 million by 2030 growing with highest CAGR of 7.7% in the forecast period of 2023 to 2030. In 2023, supply chain management segment is expected to dominate the Taiwan third party logistics market with 38.47% market share and is expected to reach USD 4,054.03 million by 2030 growing with highest CAGR of 4.2% in the forecast period of 2023 to 2030. In 2023, supply chain management segment is expected to dominate the Singapore third party logistics market with 40.93% market share and is expected to reach USD 2,623.81 million by 2030 growing with highest CAGR of 6.0% in the forecast period of 2023 to 2030. In 2023, supply chain management segment is expected to dominate the Hong Kong third party logistics market with 42.36% market share and is expected to reach USD 2,065.06 million by 2030 growing with highest CAGR of 3.4% in the forecast period of 2023 to 2030.
• On the basis of product type, Singapore, China, Hong Kong & Taiwan third party logistics market has been segmented into air freight, ocean freight, land transport, contract logistics, and others.

The air freight segment is expected to grow due to its features of high volume capacities and a rising number of sea routes.

In 2023, air freight segment is expected to dominate the China third party logistics market with 45.49% market share and is expected to reach USD 214,383.95 million by 2030 growing with highest CAGR of 7.5% in the forecast period of 2023 to 2030. In 2023, air freight segment is expected to dominate the Taiwan third party logistics market with 50.1% market share and is expected to reach USD 5,307.11 million by 2030 growing with highest CAGR of 4.2% in the forecast period of 2023 to 2030. In 2023, air freight segment is expected to dominate the Singapore third party logistics market with 51.7% market share and is expected to reach USD 3,250.82 million by 2030 growing with highest CAGR of 5.7% in the forecast period of 2023 to 2030. In 2023, air freight segment is expected to dominate the Hong Kong third party logistics market with 52.4% market share and is expected to reach USD 2,543.72 million by 2030 growing with highest CAGR of 3.3% in the forecast period of 2023 to 2030.

On the basis of providers, the Singapore, China, Hong Kong & Taiwan third party logistics market has been segmented into small freight forwarders, courier companies, companies integrating & offering subcontracted logistics and transportation services. In 2023, companies integrating & offering subcontracted logistics segment is expected to dominate the China third party logistics market with 37.21% market share and is expected to reach USD 178,742.15 million by 2030 growing with highest CAGR of 7.8% in the forecast period of 2023 to 2030. In 2023, companies integrating & offering subcontracted logistics segment is expected to dominate the Taiwan third party logistics market with 40.5% market share and is expected to reach USD 4,335.30 million by 2030 growing with highest CAGR of 4.4% in the forecast period of 2023 to 2030. In 2023, companies integrating & offering subcontracted logistics segment is expected to dominate the Singapore third party logistics market with 41.7% market share and is expected to reach USD 2,638.86 million by 2030 growing with highest CAGR of 5.8% in the forecast period of 2023 to 2030. In 2023, companies integrating & offering subcontracted logistics segment is expected to dominate the Hong Kong third party logistics market with 42.8% market share and is expected to reach USD 2,113.36 million by 2030 growing with highest CAGR of 3.6% in the forecast period of 2023 to 2030.

• On the basis of application, Singapore, China, Hong Kong & Taiwan third party logistics market has been segmented into receiving, picking, shipping, and returns.

In 2023, shipping is expected to grow at higher rate considering shipping charges are higher as costly operations such as vehicle freight and courier charges.

In 2023, shipping segment is expected to dominate the China third party logistics market with 51.59% market share and is expected to reach USD 249,038.11 million by 2030 growing with highest CAGR of 7.9% in the forecast period of 2023 to 2030. In 2023, shipping segment is expected to dominate the Taiwan third party logistics market with 54.9% market share and is expected to reach USD 5,891.63 million by 2030 growing with highest CAGR of 4.5% in the forecast period of 2023 to 2030. In 2023, shipping segment is expected to dominate the Singapore third party logistics market with 55.7% market share and is expected to reach USD 3,568.44 million by 2030 growing with highest CAGR of 5.9% in the forecast period of 2023 to 2030. In 2023, shipping segment is expected to dominate the Hong Kong third party logistics market with 57.1% market share and is expected to reach USD 2,828.56 million by 2030 growing with highest CAGR of 3.6% in the forecast period of 2023 to 2030.

• On the basis of business type, Singapore, China, Hong Kong & Taiwan third party logistics market has been segmented into B2B and B2C. In 2023, B2C segment is expected to dominate the China third party logistics market with 57.15% market share and is expected to reach USD 273,396.62 million by 2030 growing with highest CAGR of 7.7% in the forecast period of 2023 to 2030. In 2023, B2C segment is expected to dominate the Taiwan third party logistics market with 58.5% market share and is expected to reach USD 6,232.12 million by 2030 growing with highest CAGR of 4.3% in the forecast period of 2023 to 2030. In 2023, B2C segment is expected to dominate the Singapore third party logistics market with 58.9% market share and is expected to reach USD 3,725.54 million by 2030 growing with highest CAGR of 5.8% in the forecast period of 2023 to 2030. In 2023, B2C segment is expected to dominate the Hong Kong third party logistics market with 59.3% market share and is expected to reach USD 2,920.45 million by 2030 growing with highest CAGR of 3.5% in the forecast period of 2023 to 2030.
• On the basis of function, Singapore, China, Hong Kong & Taiwan third party logistics market is segmented into supply chain management, merchandising, in-store operations, strategy and planning, and customer management. In 2023, supply chain management segment is expected to dominate the China third party logistics market with 34.17% market share and is expected to reach USD 163,977.10 million by 2030 growing with highest CAGR of 7.8% in the forecast period of 2023 to 2030. In 2023, supply chain management segment is expected to dominate the Taiwan third party logistics market with 38.6% market share and is expected to reach USD 4,105.87 million by 2030 growing with highest CAGR of 4.3% in the forecast period of 2023 to 2030. In 2023, supply chain management segment is expected to dominate the Singapore third party logistics market with 40.1% market share and is expected to reach USD 2,535.50 million by 2030 growing with highest CAGR of 5.8% in the forecast period of 2023 to 2030. In 2023, supply chain management segment is expected to dominate the Hong Kong third party logistics market with 41.6% market share and is expected to reach USD 2,039.44 million by 2030 growing with highest CAGR of 3.5% in the forecast period of 2023 to 2030.
• On the basis of vertical, the Singapore, China, Hong Kong & Taiwan third party logistics market is segmented into retail, e-commerce, healthcare, automotive, manufacturing, aerospace & defense, consumer electronics, semicon/solar, and others. In 2023, the e-commerce segment is expected to dominate the China third party logistics market with 30.49% market share and is expected to reach USD 151,590.16 million by 2030 growing with highest CAGR of 8.4% in the forecast period of 2023 to 2030. In 2023, e-commerce segment is expected to dominate the Taiwan third party logistics market with 38.78% market share and is expected to reach USD 4,117.13 million by 2030 growing with highest CAGR of 4.3% in the forecast period of 2023 to 2030. In 2023, e-commerce segment is expected to dominate the Singapore third party logistics market with 42.02% market share and is expected to reach USD 2,650.96 million by 2030 growing with highest CAGR of 5.8% in the forecast period of 2023 to 2030. In 2023, e-commerce segment is expected to dominate the Hong Kong third party logistics market with 44.93% market share and is expected to reach USD 2,198.67 million by 2030 growing with highest CAGR of 3.4% in the forecast period of 2023 to 2030.
• On the basis of retail size, Singapore, China, Hong Kong & Taiwan third party logistics market is segmented into small, medium, and large. In 2023, medium segment is expected to dominate the China third party logistics market with 42.68% market share and is expected to reach USD 204,613.11 million by 2030 growing with highest CAGR of 7.8% in the forecast period of 2023 to 2030. In 2023, medium segment is expected to dominate the Taiwan third party logistics market with 44.9% market share and is expected to reach USD 4,803.63 million by 2030 growing with highest CAGR of 4.4% in the forecast period of 2023 to 2030. In 2023, medium segment is expected to dominate the Singapore third party logistics market with 45.7% market share and is expected to reach USD 2,900.66 million by 2030 growing with highest CAGR of 5.9% in the forecast period of 2023 to 2030. In 2023, medium segment is expected to dominate the Hong Kong third party logistics market with 46.4% market share and is expected to reach USD 2,294.76 million by 2030 growing with highest CAGR of 3.6% in the forecast period of 2023 to 2030.

Major Players

Data Bridge Market Research recognizes the following companies as the major key players in the Singapore, China, Hong Kong & Taiwan third party logistics market are DHL, Nippon Express Co., Ltd, FedEx, NYK Line, CJ Logistics Corporation, C.H. Robinson Worldwide, Inc., DB Schenker, DSV, KERRY LOGISTICS NETWORK LIMITED, Kuehne+Nagel, Samudera Shipping Line Ltd, SINOTRANS Limited, United Parcel Service of America, Inc., XPO, Inc., COSCO SHIPPING Logistics Supply Chain Co., Ltd., CN Logistics International Holdings Limited, NAF Logistics Group among others.

Market Development

• In June 2023, DHL and Formula 1 are launching a truck fleet powered by biofuel, reducing carbon emissions by at least 60% compared to standard fuels, demonstrating their commitment to sustainability and a greener logistic future. This initiative marks a significant step towards achieving their shared goal of becoming Net Zero by 2030 and paves the way for expanded use of sustainable logistics in the coming years.
• In June 2023, COSCO SHIPPING Logistics Supply Chain Co., Ltd. demonstrated its expertise and capabilities in providing an "end-to-end" transportation service for a Squirrel helicopter, ensuring its safe delivery from a factory in Jiaxing to an airport in Zhenjiang. By tailoring a specialized transport plan and coordinating with a dedicated team, they successfully overcame complex operational challenges and delivered the helicopter securely to its destination. Such new services can help the company to cater to more customers.
• In May 2023, FedEx signed a memorandum with the Guangzhou Municipal Government that aims to enhance customs clearance efficiency and facilitate cross-border trade, contributing to the development of e-commerce logistics services and Guangzhou's status as an international aviation hub. This will enhance customer service, streamline cargo clearance, support local businesses, and foster global connectivity, thereby driving economic growth in Guangzhou and South China.
• In May 2023, Kuehne+Nagel and Elanco's partnership in China addressed the growing demand for animal healthcare. With state-of-the-art infrastructure and efficient operations, they aim to expand their healthcare logistics presence and meet the highest quality standards, contributing to the growth of China's animal healthcare market. Such partnerships can help the company to cater to more customers.
• In October 2022, DSV's subsidiary DSV Air & Sea Hong Kong acquired the IATA CEIV Lithium Battery Certification, ensuring the proper handling of air cargo containing lithium batteries and enhancing air cargo safety. This certification acknowledges DSV's operational excellence, expertise, and adherence to international standards, reinforcing its commitment to safeguarding the supply chain and meeting customer needs efficiently.

Regional Analysis

Geographically, the countries covered in Singapore, China, Hong Kong & Taiwan third party logistics market report are Singapore, China, Hong Kong and Taiwan.

As per Data Bridge Market Research analysis:

For more detailed information about the surgical visualization products market report, click here – https://www.databridgemarketresearch.com/reports/singapore-china-hong-kong-and-taiwan-third-party-logistics-market