Please Wait.....
Report
Sri Lanka Freight and Logistics Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 120 Pages I Mordor Intelligence
The Sri Lanka Freight And Logistics Market are estimated to grow at a CAGR of more than 4%, driven by the growth in the e-commerce segment, higher internet penetration into the masses, and the latest technological innovations in the sector, the driving force for the market.
Key Highlights
The country's strategic location among the top air navigation and sea routes within the Southern Asian region has made Sri Lanka a lucrative destination for developing logistics. The COVID-19 pandemic has impacted every sector. However, the pandemic has accelerated online purchasing, which positively affects the industry's growth and has increased its market share.
During the last five years, Colombo Port has been ranked among the Top 50 World Container Ports above other South Asia ports by the World Shipping Council based on the volume of the containers handled.
The Sri Lankan logistics sector contributes around 2.5% of the nation's GDP (gross domestic product), which represents about USD 2 billion, and the industry provides full-time direct employment to over 40,000 people. In addition to expanding its seaports, the country has the highest road density in South Asia, with around 174 km of roads per 100 sq km of land, connecting all major ports and airports.
The growing recognition as a marine engineering hub in the South Asian region and the increasing capacity for offshore engineering has also benefitted the country to get more reputation as an emerging logistics hub providing a complete suite of logistic services.
Sri Lanka aims to become a multimodal logistics hub by providing integrated services and facilities by developing physical, telecommunication, and information technology infrastructure between the air and seaport facilities in the future.
Sri Lanka Freight & Logistics Market Trends
Sea Freight Transport Segment is Anticipated to Drive the Market Growth
The deep-water coastline close to Indian Ocean Shipping Lanes makes the Hambantota port add a unique geographical factor that most of its neighboring ports lack. It is helping it handle the world's largest container ships and supertankers. With a strong base of air and sea freight transport segments, Sri Lanka's freight and logistics market has been expanding its business. Colombo Port of Sri Lanka alone can handle around 20 million TEUs per annum, registers a throughput of more than 8 million TEUs per annum, and has been serving 33 major shipping lines. The timely completion of the ambitious Colombo Port Expansion Project would increase the container handling capacity to 12 Million TEUs per year and become one of the largest container ports in the world.
Improving Export Performance is Anticipated to Drive the Market
Merchandise exports in the first half of 2022 increased by 12.4% compared to the same period in 2021 to USD 6,408.3 million which included Major product divisions other than teas, spices and concentrates. Apparel and textile exports increased by 19.73% in the period from January 2022 to June to USD 2,967.39 million compared to the same period in 2021.
Excluding ready-made clothing accessories (-8.7%), yarns (-21.38%) and textile flooring (-3.28%); exports of other sub-categories of the clothing and textiles sector increased. From January to June 2022, export earnings from coconuts and coconut-based products increased by 12% to USD 434.34 million.
Due to the improved export performance of liquid coconut milk, coconut cream, coco peat, mattress fiber, activated carbon, coconut oil and coconuts, coconut-based exports incresed for the period January to June 2022.
Meanwhile, revenue from exports of electrical and electronic components (EEC) increased by 12.96% to USD 228.12 million in the period January to June 2022 compared to the corresponding period in 2021. Exports of insulated wire to the United States increased by 18.68% ie USD 40.54 million for the period January-June 2022 compared to the same period last year.
Moreover, during the period from January to June 2022, exports of switches, circuit boards and panels, transformers and other electrical and electronic products increased by 8.29%, 18.87% and 9.14% respectively compared to the same period last year.
Increased Seafood export revenues from January to June 2022 increased by 33.64% compared to 2021 to USD 142.17 million due to improved performance in all sub-categories except lobster. Frozen fish (20.97%), fresh fish (70.51%), shrimp (86.04%). In addition, revenue from ornamental fish exports increased by 51.49% to USD 10.15 million in the period from January to June 2022. However, tea export earnings for the period January to June 2022 decreased by 11.25% compared to the corresponding period in 2021 to USD 577.38 million.
Export earnings of rubber and finished rubber products for January-June 2022 decreased by 0.64% compared to the same period in 2021 to USD 516.62 million. However, during the period January to June 2022, exports of pneumatic and reclaimed rubber tires and hoses increased by 8.45% compared to the same period in 2021.
Sri Lanka Freight & Logistics Market Competitor Analysis
The Sri Lanka Freight And Logistics Market is Fragmented. The report covers the key insights into major players operating in the Sri Lanka freight and logistics market. The freight and logistics market in Sri Lanka is growing with the rising number of domestic players. The market is dominated by domestic and local players, who account for more than 70% of registered service providers.
The major players include MIT Cargo (Pvt) Ltd, Freight Links International (Pvt) Ltd, APL Logistics Lanka Pvt Ltd, Ceva Logistics, and Network Cargo Services Ceylon (Pvt) Limited.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
4.1 Current Market Scenario
4.2 Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunities
4.3 Industry Attractiveness- Porter's Five Forces Analysis
4.4 Value Chain / Supply Chain Analysis
4.5 Government Regulations and Initiatives
4.6 Technological Trends
4.7 Insights on the E-commerce Industry
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Function
5.1.1 Freight Transport
5.1.1.1 Road
5.1.1.2 Shipping and Inland Water
5.1.1.3 Air
5.1.1.4 Rail
5.1.2 Freight Forwarding
5.1.3 Warehousing
5.1.4 Value-added Services and Other Services
5.2 By End User
5.2.1 Manufacturing and Automotive
5.2.2 Oil and Gas, Mining, and Quarrying
5.2.3 Construction
5.2.4 Distributive Trade (Wholesale and Retail)
5.2.5 Healthcare and Pharmaceutical
5.2.6 Other End Users (Chemicals, Telecommunications, etc.)
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Mit Cargo Pvt Ltd
6.2.2 Freight Links International Pvt Ltd
6.2.3 A P L Logistics Lanka Pvt Ltd
6.2.4 Ceva Logistics
6.2.5 Slffa Cargo Services Ltd
6.2.6 Dsv Pership Pvt Ltd
6.2.7 Ace International Express Pvt Ltd
6.2.8 Aitken Spence Shipping Ltd
6.2.9 Hayleys Free Zone Ltd*
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 APPENDIX
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security