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Automotive Logistics Market Opportunities, Leading Players, Size And Forecast To 2033
Automotive Logistics Market Opportunities
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According to The Business Research Company's, The automotive logistics market size has grown strongly in recent years. It will grow from $269.86 billion in 2023 to $291.63 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to emerging markets growth, increasing sales of automobiles, and growth in international trade.
The automotive logistics market size is expected to see strong growth in the next few years. It will grow to $396.79 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to the increasing government support, global population growth and urbanization, increasing production of electric vehicles, and growing e-commerce sales. Major trends in the forecast period include developing new technologies to aid in transportation of vehicles and their inventory, using electric vehicles (evs) for effective last-mile delivery due to their high maneuverability and small carbon footprint, focusing on partnerships and acquisitions to improve the financial strength and geographical presence, developing advanced logistics management platforms to closely monitor the delivery status of vehicles, and launching new products and solutions to strengthen their position in the market.
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Market Drivers and Trends:
The increasing efficiency in finished vehicle logistics is expected to propel the growth of the automotive logistics market going forward. Finished vehicle logistics refers to a series of stages and processes through which cars get safely delivered to the end customers. This process involves transporting or delivering vehicles from the manufacturer to the customers domestically or internationally. Finished vehicle logistics is used by the automotive industry for the safer delivery of cars as a result to increase in efficiency in finished vehicle logistics will increase the demand for automotive logistics. For instance, in December 2021, according to Economic Times Auto, an India-based article, India's intercity road logistics spending reached USD 209 billion in 2021, with an annual compounding growth rate of 8%. Therefore, the increasing efficiency in finished vehicle logistics is driving the growth of the automotive logistics market.
New product innovations have emerged as a new trend gaining popularity in the automotive logistics market. Major companies operating in the automotive logistics sector are focused on developing innovative products to sustain their position in the market. For instance, In March 2021, Tata Motors, an India-based company that manufactures logistic automobile trucks, launched Ultra Sleek T-Series trucks based on smart truck technology. This contains a varied deck length from 10 to 20 feet to adapt to all the required applications. This helps to carry more automotive logistics at a time.
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Major Key Players of the Market:
AECOM, Jacobs Solutions Inc, Fluor Corporation, HOCHTIEF Aktiengesellschaft, Stantec Inc,Arcadis NV, Perkins Eastman, HDR Inc, Gensler, Architecture BRIO, Cadence Architects, CP Kukreja Architects, Design Plus Architects, Ramboll Studio Dreiseitl, PTW Architects, Harry Seidler and Associates, Peter Stutchbury Architecture, Shigeru Ban Architects, Sou Fujimoto Architects, Maki and Associates, Unsangdong Architects, BCHO Architects Associates, Iroje KHM Architects, China Construction Engineering Design Group Corp. Ltd, Beijing Engineering Corp Ltd, Power China Kunming Engineering Corp. Ltd, China Architecture Design and Research Group, Mim Design, SHNAG Architects, Foster + Partners, BDP - Building Design Partnership, Zaha Hadid Architects, Allford Hall Monaghan Morris, Allies and Morrison, Kadawittfeldarchitektur, JSWD Architekten, HPP Architects, Henning Larsen, Marco Casamonti and Partners, Architect Service S.R.L., 2A architectural atelier, Digital Bunch sp. Z o. O., Viscato, O4 Coworking, Business Link, SsamireiArt, MAParchitects, Cutler. Architecture, Hager Design International Inc., KPMB Architects, ZAS Architects + Interiors Inc., NV5, Kiewit Corporation, Bechtel, Aecom, HDR Omaha, Novaworks, Nidolab Arquitectura, TSyA S.A., Arqueprima, Arquiefil Isay Weinfeld, Zaher Architects, Saudi Architects, LACASA, Killa Design, RMJM, Peerutin Architects, Hofman Architects, Integrated Design Consultants, Dalia Sadany Dezines
Automotive Logistics Market 2024 Key Insights:
• The automotive logistics market size is expected to see strong growth in the next few years. It will grow to $396.79 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
• Enhanced Efficiency In Finished Vehicle Logistics Driving Automotive Logistics Market
• Innovative Product Developments Driving Evolution In The Automotive Logistics Market
• Asia-Pacific was the largest region in the automotive logistics market in 2023
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