SAN FRANCISCO, June 18, 2020 /PRNewswire/ — The global automotive logistics market size is expected to reach USD 222.3 billion by 2027, registering a CAGR of 5.8% from 2020 to 2027, according to a new report by Grand View Research, Inc. The growth of the market is directly linked to the demand for automobile and automobile parts, development of comprehensive world-wide trade flow, and existing economic environment. Furthermore, rapid proliferation of trade agreements among various countries is a key factor fueling the growth of the market.
Key suggestions from the report:
- Based on activity, the warehousing segment is expected to exhibit the highest CAGR over the forecast period due to increasing demand from the automobile industry and growing awareness concerning optimum utilization of spaces throughout supply channels
- By distribution, the domestic segment captured a dominant market share in the year 2019 and it is expected to maintain its lead throughout the forecast period owing to shifting preference of automobile manufacturers towards local manufacturing of automobile and automobile parts to minimize operational cost
- Increasing emphasis on developing a logistics infrastructure and a public-private partnership model to facilitate ease of transportation from manufacturers to local warehouse is expected to drive the inbound logistics segment
- By type, the automobile parts segment is anticipated to dominate the market over the forecast period owing to the demand generated in aftermarket by a massive automobile fleet across the globe.
- Asia Pacific is anticipated to register the highest CAGR over the forecast period owing to high rate of automobile manufacturing, coupled with huge trade volume from this region across the globe.
Read 80 page research report with ToC on «Automotive Logistics Market Size, Share & Trends Analysis Report By Activity (Warehousing, Transportation), By Type, By Logistics Solution, By Distribution, By Region, And Segment Forecasts, 2020 – 2027» at: https://www.grandviewresearch.com/industry-analysis/automotive-logistics-market
Automotive logistics is a part of the automotive supply chain, which spans across the globe. Automotive logistics ensures seamless transportation of component, system, and finished vehicle in the economy, starting from pre-assembled components to the transport of finished automobiles to a local warehouse. Automotive logistics is crucial for raw material producers, components suppliers, vehicle manufacturing, spare parts suppliers, and automotive sales. It comprises inbound logistics of raw materials and components, garage logistics of the manufacturing process, sales logistics of spare parts, and finished vehicle, which also includes loading/unloading, storage, transportation, information processing, distribution, and delivery. In a broader supply chain, automotive logistics also provides transportation of automotive industry waste for recycling.
Key service providers are adopting advanced technologies, such as Big Data and connected ships, to improve supply-chain management processes for optimizing modes of transport in the industry. The application of technologies such as big data enables cost comparison, reliability, and quality of concerned product components transportation to suggest the perfect and most economical mode of transportation. It also analyzes statistical data for predicting the demand and helps in streamlining the procurement process with minimum inventory cost, making it more cost efficient. Big data analytics also aid in the reduction of labor costs by making use of predictive assessment on routing to eliminate delays in shipments, thereby reducing the operational cost to increase the profit margin of the service providers.
Grand View Research has segmented the global automotive logistics market on the basis of activity, type, distribution, logistics solution, and region:
- Automotive Logistics Activity Outlook (Revenue, USD Million, 2016 – 2027)
- Automotive Logistics Type Outlook (Revenue, USD Million, 2016 – 2027)
- Finished Vehicle
- Automobile Parts
- Automotive Logistics Distribution Outlook (Revenue, USD Million, 2016 – 2027)
- Automotive Logistics Solution Outlook (Revenue, USD Million, 2016 – 2027)
- Automotive Logistics Regional Outlook (Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- List of Key Players of Automotive Logistics Market
- BLG LOGISTICS GROUP AG & Co. KG
- CEVA Logistics
- Hellmann Worldwide Logistics
- Penske Automotive Group, Inc.
- CFR Rinkens
- Expeditors International of Washington, Inc.
- Imperial Logistics
- Kerry Logistics Network
- Nippon Express Co. Ltd.
- Ryder System, Inc.
- Schnellecke group ag & co. Kg
Find more research reports on Automotive & Transportation Industry, by Grand View Research:
- Scooters Market– The rising purchasing power of the middle-class population in developing countries and swift urbanization is expected to significant increase in demand. Besides, land and space-constrained cities with inadequate road infrastructure and high vehicular traffic are also some of the factors driving the adoption of this vehicle as an urban mode of personal mobility.
- Intelligent Transportation System Market– The necessity for presenting real-time traffic information of different regions to passengers and drivers is one of the significant factors driving the demand for intelligent transportation systems across the world.
- Automotive Test Equipment Market– The automotive test equipment is used to perform quality control tests to evaluate and ensure effective performance of the vehicles. Automotive test equipment helps to maintain efficiency of the vehicle and thus plays an important role in enhancing the vehicle’s overall life.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Corporate Sales Specialist, USA
Grand View Research, Inc.
Toll Free: 1-888-202-9519
Follow Us: LinkedIn | Twitter