Spare Parts Logistics Market Exploring the Scope of Products in the Market till 2031

The Global Spare Parts Logistics Market is experiencing steady growth and was valued at USD 21.3 billion in 2021. It is projected to reach USD 36.9 billion by 2030, with a compound annual growth rate (CAGR) of 6.6% from 2022 to 2030. The growth of the market can be attributed to factors such as government incentives, rising regional demand, and the availability of raw materials at affordable prices. These factors are expected to drive the growth of the light-duty vehicle market, thereby increasing the demand for spare parts throughout the forecast period.

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Major players in the global spare parts logistics market include Sumitomo, Denso, Magna International Inc., NTN Corp., Mando, Hyundai Wia, MRF, TVS, Bharat Forge, Continental AG, ZF Friedrichshafen AG, DENSO Corporation, and Lear Corporation.

The objective of this study is to define the market sizes of different segments and countries in recent years and provide forecasts for the next eight years. The report incorporates both qualitative and quantitative aspects of the industry within each region and country included in the study. It provides detailed information about the driving factors and challenges that will define the future growth of the market. The report also analyzes the available opportunities in micro markets for stakeholders to invest in, along with a detailed analysis of the competitive landscape and product offerings of key players.

The market is segmented by type, application type, and service channel. The types of spare parts include motor vehicle engine, powertrain and parts, motor vehicle electrical and electronic equipment, and others. The application types are categorized as the industrial sector, technology industry, automotive sector, and others. The service channels include OEM (original equipment manufacturer) and aftermarket.

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The market is further segmented into regions, including North America (U.S., Canada, Mexico), Europe (UK, Germany, France, Spain, Italy, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and Rest of Asia), South America (Brazil, Argentina, and Rest of South America), and the Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of MEA).

The years considered for this study are 2017, 2020 (historical years), 2021 (base year), and the forecast period is from 2022 to 2030.

The target audience for this market study includes key consulting companies and advisors, large, medium-sized, and small enterprises, venture capitalists, value-added resellers (VARs), third-party knowledge providers, investment bankers, and investors.

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