Press release
Automotive Logistics Market Growth Factors, Latest Rising Trend & Forecast to 2027 - Companies CEVA Logistics AG, DB Schenker, DSV A/S, GEODIS, Nippon Express, Ryder System, XPO Logistics and United Parcel Service
Automotive Logistics Market
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.
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. 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.
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Top Leading Market Players:
1. DHL
2. CEVA Logistics
3. DB Schenker logistics
4. DSV A/S
5. GEODIS
6. Kuehne + Nagel International AG
7. Nippon Express Co., Ltd.
8. Ryder System, Inc.
9. United Parcel Service of America, Inc.
10. XPO Logistics
Rising number of automotive manufacturing facilities
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.
Adoption of autonomous vehicles to prosper automotive industry
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.
Key findings of the study:
China holds the largest automotive logistics market share in the Asia Pacific region. The Chinese economy comprises of many automobile manufacturers who are continuously focusing towards the development of automotive logistics in the country. For instance, Kuehne + Nagel to create a new joint venture with Sincero, a Chinese company. The joint venture aims to offer logistics services to the automotive sector. It enhances the Kuehne + Nagel’s automotive logistics business for both tier one suppliers by 70% as well as Chinese OEMs. The company has a strong automotive imprint across China through different partnerships with premium and best European brands, such as new dealer distribution centers in Shanghai and Beijing for BMW. Such partnership and collaboration between the market players will propel the automotive logistics market in the forecast period.
Global Automotive Logistics Market Segmentation :
Global Automotive Logistics Market – By Type
• Outsourcing
• Insourcing
Global Automotive Logistics Market - By Services
• Transportation
• Warehousing
• Packaging Processes
• Integrated Service
• Reverse Logistics
Global Automotive Logistics Market - By Sector
• Passenger Vehicle
• Commercial Vehicle
• Tire
• Component
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Reasons to Buy the Report :
• Learn about the driving factors, affecting the market growth.
• Imbibe the advancements and progress in the market during the forecast period.
• Understand where the market opportunities lies.
• Compare and evaluate various options affecting the market.
• Pick up on the leading market players within the market.
• Envision the restrictions and restrains that are likely to hamper the market.
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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
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