Automotive Logistics Market: What are the Future Growth Opportunities? Top Players: CEVA Logistics, DHL, XPO Logistics, Inc., SNCF, Kuehne + Nagel, DSV - Global Transport and Logistics, Ryder System, Inc., Imperial Logistics
With automakers looking to offer a wide range of vehicle models to cater to varying customer demands, global automotive logistics market is projected to experience substantial business growth over the forthcoming years. Apparently, a single car series model from a premium German vehicle brand can be available in approximately 1,017 possible variations. The unprecedented level of complexity, driven by product variety and the immense pressure exerted on industry players due to tough international competition makes it considerably difficult for automakers to ensure efficient logistics operations.
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Supplying auto parts to global customers entail some of the prominent factors endorsing the importance of automotive logistics industry. It is also the reason why automobile manufacturers today maintain vehicle assembly plants across the world. Instead of manufacturing and shipping entire vehicles to regional markets overseas, automakers prefer to manufacture and ship vehicle components to local manufacturing facilities and then assemble the components into a vehicle. This practice delivers substantial savings on import duties, reinforcing global automotive logistics market share.
Greater China is one of the major regions contributing to the growth of automotive logistics industry owing to the presence of large number of manufacturers and production facilities in the country. For instance, in 2018, Greater China region manufactured the largest number of commercial vehicles estimated at 5,126,854 units, contributing a share of 27 percent to the worldwide production.
China has been reported to top the list as far as manufacturing operations are concerned. In 2016 alone, the automobile production and sales of China exceeded 28 million units, ranking first in the world for the past eight years. As per the China Automobile Dealers Association (CADA), in 2018, nearly 13.82 million used cars were traded in China. The extensive growth pace of auto manufacturing in the region is likely to catapult China automotive aftermarket, further propelling the regional automotive logistics market share.
It has been estimated that over 2020-2025, aftermarket service will account for 45 to 55 percent of the total auto industry value chain revenue owing to the demand for used cars. The rising requirement of a well-organized supply of raw materials and finished components by OEMs is supplementing manufacturing sector and significantly accelerating automotive logistics market share.
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Asia Pacific is projected to emerge as one of the dominant customer base for auto parts, with the anticipated demand being credited to the domestic auto manufacturing sector and a strong presence of global automobile manufacturers. India, specifically, is estimated to contribute substantial revenues to automotive logistics market over the forecast timeframe. The Society of Indian Automobile Manufacturers stated that passenger vehicle sales increased by 2.70% over March-April 2019 in India. The nation's commercial vehicles segment also recorded a 17.55% growth in the quarter, as compared to the same period the previous year.
Owing to a gradual increase in automobile production and the robust development of automotive sector in APAC, global automotive logistics industry is slated to record tremendous revenues in the imminent future. Key industry participants expected to lead the growth include DHL International, CEVA Logistics, SNCF Group, XPO Logistics and Imperial Logistics.
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