Market Size of Singapore Container Transshipment Industry
| Study Period | 2024-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.52 Billion |
| Market Size (2029) | USD 1.64 Billion |
| CAGR (2024 - 2029) | > 1.69 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Singapore Container Transshipment Market Analysis
The Singapore Container Transshipment Market size is estimated at USD 1.52 billion in 2024, and is expected to reach USD 1.64 billion by 2029, growing at a CAGR of greater than 1.69% during the forecast period (2024-2029).
- International Pte Ltd (PSA) enjoyed a record-breaking year as it handled container volumes amounting to 94.8 million Twenty-foot Equivalent Units (TEUs) across its port terminals around the world for the year ended 31 December 2023.
- The flagship terminal in Singapore handled 38.8 million TEUs, an increase of 4.8%, and the terminals outside Singapore held 56 million TEUs, up by 3.9% year on year. Compared to the same period in 2022, the group's volume grew by 4.3%.
- It is strategically located at the crossroads of major shipping corridors that connect Asia, Europe, and North America. The port has 67 deepwater anchorages and more than 200 quay cranes, making it a modernized and effective place to transport goods.
- Ship traffic to and from Singapore is a major concern for many businesses and industries in the Asia-Pacific region. The biggest transshipment hub in the world, Singapore, is a container port that handles around 20% of all containers. Increasing e-commerce growth and technology advancements are booming the supply chain in the region, hence increasing the transshipment market in Singapore.
Singapore Container Transshipment Industry Segmentation
Transshipment of containers is a procedure where goods are unloaded from one vessel and transported to another for the purpose of reaching their destination. Moving containers from one transport mode to another in transit is a complex supply chain challenge.
The Singapore container transshipment market is segmented by container type (general and refrigerated), end user (automotive, mining & minerals, agriculture, chemicals & petrochemicals, pharmaceuticals, food & beverages, retail, and other end users). The report offers market sizes and forecasts in value (USD) for all the above segments.
| By Container Type | |
| General | |
| Refrigerator |
| By End-User | |
| Automotive | |
| Mining & Minerals | |
| Agriculture | |
| Chemicals & Petrochemicals | |
| Pharmaceuticals | |
| Food & Beverages | |
| Retail | |
| Other End Users |
Singapore Container Transshipment Market Size Summary
The Singapore container transshipment market is a pivotal player in the global shipping industry, strategically positioned at the intersection of major shipping routes connecting Asia, Europe, and North America. This prime location, coupled with advanced infrastructure such as deepwater anchorages and a significant number of quay cranes, has established Singapore as the world's largest transshipment hub, handling a substantial portion of global container traffic. The market's growth is fueled by the increasing demand for efficient logistics solutions, driven by the rise of e-commerce and technological advancements in supply chain management. Singapore's port facilities are continuously evolving to meet the growing needs of international trade, making it a critical node in the Asia-Pacific region's economic landscape.
The competitive landscape of Singapore's container transshipment market is characterized by the presence of major global shipping lines and terminal operators, such as Maersk Line, MSC, and CMA CGM. These companies are actively investing in expanding their infrastructure and enhancing operational efficiencies to attract more shipping traffic. Recent investments, like those by Maersk, aim to bolster the region's logistics capabilities, supporting Southeast Asia's growth as a global production and consumption hub. Additionally, collaborations with technology providers, such as HERE Technologies, are set to improve the efficiency of goods movement within Singapore's terminals. This dynamic environment underscores Singapore's role as a leading maritime capital, with its port ranking among the busiest in the world in terms of container volumes.
Singapore Container Transshipment Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Current Market Scenario
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1.2 Technology Advancements in the Market
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1.3 Government Regulations and Initiatives in the Market
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1.4 Spotlight on Transhhipment Rates
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1.5 Value Chain/Supply Chain Analysis
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1.6 Impact on COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Container Type
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2.1.1 General
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2.1.2 Refrigerator
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2.2 By End-User
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2.2.1 Automotive
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2.2.2 Mining & Minerals
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2.2.3 Agriculture
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2.2.4 Chemicals & Petrochemicals
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2.2.5 Pharmaceuticals
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2.2.6 Food & Beverages
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2.2.7 Retail
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2.2.8 Other End Users
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Singapore Container Transshipment Market Size FAQs
How big is the Singapore Container Transshipment Market?
The Singapore Container Transshipment Market size is expected to reach USD 1.52 billion in 2024 and grow at a CAGR of greater than 1.69% to reach USD 1.64 billion by 2029.
What is the current Singapore Container Transshipment Market size?
In 2024, the Singapore Container Transshipment Market size is expected to reach USD 1.52 billion.
