Automotive Logistics Market Growth Prediction, Investment Opportunity, Product Type and Forecast 2027
The global automotive logistics market accounted to US$ 203.0 Bn in 2018 and is expected to grow at a CAGR of 6.6% during the forecast period 2019 – 2027, to account to US$ 370.8 Bn by 2027.
Geographically, the automotive logistics market is segmented into North America, APAC, Europe, MEA, and SAM regions. APAC leads the automotive logistics market in 2018 with a significant market share and is anticipated to continue its dominance in the coming years. The South East Asian countries are also expected to create ample opportunities for automotive logistics companies. Pertaining to meet the demands for automotive components and spare parts, as well as, finished vehicles from manufacturing plants to different dealerships, the car makers are increasingly collaborating with recognized logistic companies.
According to a new market study entitled “Automotive Logistics Market to 2027 – Global Analysis and Forecasts by Deployment Type (On-Premise and Cloud) and Industry Vertical (BFSI, Healthcare & Life Sciences, Retail & Consumer Goods, Manufacturing, Travel & Hospitality, IT & Telecommunication, Media & Entertainment, and Others) and Geography, “explains the report, explaining the key drivers of this growth and highlighting key market players and their evolution. The report factors this growth and also highlights the major players in the market and their developments.
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• To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Automotive Logistics Market
• To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)
This factor is catalyzing the growth of automotive logistics market in the South East Asia region. North America is the second largest market in the automotive logistics market. Apart from APAC and North America, Europe remains the third largest geographic segment, as Europe’s automotive logistics sector is growing at a rapid pace owing to the factors such as growing investment in high-tech manufacturing and R&D from some of the world’s biggest vehicle-makers.
Leading Key Players:
• CEVA Logistics AG
• DB Schenker
• DHL International GmbH (Deutsche Post AG)
• DSV A/S
• KUEHNE + NAGEL INTERNATIONAL AG
• Nippon Express Co., Ltd.
• Ryder System, Inc.
• XPO Logistics, Inc.
• United Parcel Service
automotive industry is experiencing significant demand for vehicles, which is pressurizing the vehicle manufacturers to deliver the required amount of vehicles. he rise in demand for passenger and commercial automobiles among the global mass is majorly driven by the rise in disposable income and an increase in manufacturing facilities in the developed countries and developing economies. These factors has led the automobile manufacturers to focus on logistics of the vehicle components, wheels significantly, and tires, vehicle skeleton as well as wholly assembled vehicles from one location to another worldwide.
The autonomous vehicles segment majorly, the passenger cars is gaining substantial popularity in recent time, and several automobile manufacturers are testing autonomous trucks. The autonomous trucks would benefit the logistics companies as well as the suppliers with enhanced safety and shorter lead times. The introduction of autonomous trucks is foreseen to catalyze the industry size of the automotive logistics market.
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The automotive logistics market by services is further segmented into transportation, warehousing, packaging processes, integrated service, and reverse logisticss. Transportation dominates the automotive logistics market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. Transportation is an integral part of the logistic operations and a significant contributor to the logistic expenses. The technological advancement in the system allow to deliver superior services to the clients irrespective of international or domestic.
- This report provides a detailed study of market trends and forecast from 2019 to 2027, which assist to identify the prevailing market opportunities.
- In-depth coverage of the global market that includes drivers, restraints, and opportunities, helps professionals to understand the market behavior in a better way.
- This study further includes market share analysis in terms of type and applications.
- Detailed study of the strategies of key leaders, partnerships, and acquisitions in the market is provided.
- Porter’s Five Forces analysis examines the competitive structure of the market and assists strategists in better decision-making.