Press release
Automotive Logistics Market Size to Reach $424.53 Billion by 2029 | Growth at 8.5% CAGR Forecast
Automotive Logistics
What is the Projected Market Size of the Automotive Logistics Industry?
In recent times, the automotive logistics market has experienced significant expansion. The market is projected to rise from $286.51 billion in 2024 to $306.27 billion in 2025, recording a compound annual growth rate (CAGR) of 6.9%. The previous growth was influenced by the expansion of emerging markets, a spike in automobile sales, and an increase in international trade.
What Will Be the Size of the Automotive Logistics Market by 2029?
In the coming years, the car logistics market is predicted to experience substantial growth, expanding to a valuation of $424.53 billion in 2029 with an 8.5% Compound Annual Growth Rate (CAGR). This surge through the anticipated period can be linked to factors like amplified government backing, growth in the global populace and urbanization, rising production of electric-powered vehicles, and increased sales in e-commerce. Future market trends entail the development of state-of-the-art technologies that assist in vehicle and stock transport, harnessing electric vehicles for efficient last-mile deliveries due to their superior agility and minor carbon emissions, strengthening financial solidity and geographic penetration through partnerships and acquisitions, creating enhanced logistics management systems to scrutinize the delivery progression of cars accurately, and unveiling new merchandise and solutions to consolidate their status in the market.
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What Are the Key Drivers Accelerating Growth in the Automotive Logistics Market?
The automotive logistics market is predicted to grow due to improving efficiency in finished vehicle logistics. Finished vehicle logistics represent a series of steps and operations that ensure cars are delivered safely to their final consumers. It includes the transportation of vehicles from the manufacturer to the customers, either domestically or internationally. The automotive industry relies on finished vehicle logistics for the safe shipping of cars, meaning an enhancement in its efficiency can result in a higher demand for automotive logistics. For example, in April 2023, the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, stated that there was an almost 60% rise in passenger vehicle exports in 2022, exceeding 2.5 million units. Accordingly, the improving efficiency of finished vehicle logistics is fueling the growth of the automotive logistics market.
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How Is the Automotive Logistics Market Segmented by Type, Application, and Region?
The automotive logistics market covered in this report is segmented -
1) By Type: Outsourcing, Insourcing
2) By Activity: Warehousing And Handling, Transportation And Handling
3) By Mode Of Transport: Roadways, Airways, Railway, Maritime
4) By Services: Transportation, Warehousing, Packaging Processes, Integrated Service, Reverse Logistics
5) By Distribution: Domestic, International
Subsegments:
1) By Outsourcing: Third-Party Logistics (3PL), Fourth-Party Logistics (4PL)
2) By Insourcing: In-House Logistics Management, Dedicated Logistics Services
What Are the Key Trends Driving Growth in the Automotive Logistics Market?
Prominent firms in the automotive logistics marketplace are concentrating on the creation of cutting-edge products, like integrated logistics platforms, to enhance transport operations and supply chain management. These platforms are comprehensive software solutions that optimize and oversee every aspect of transportation and supply chain operations, ensuring smooth collaboration between shippers, carriers, and logistics suppliers. For example, in June 2024, Cox Automotive, a firm based in the US, unveiled Central Dispatch Enterprise, which is aimed at improving transportation operations for major automotive shippers and brokers. This platform offers a private marketplace with adaptable, comprehensive capabilities, using first-party data and market intelligence to improve supply chain management. With features like automated procedures, integration-friendly APIs, and a carrier mobile app for efficient transactions, this platform equips clients with the necessary tools to boost operational efficiency and profitability in the automotive logistics market.
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Who Are the Leading Companies Driving Growth in the Automotive Logistics Market?
Major companies operating in the automotive logistics market include Deutsche Post DHL Group, Kuehne + Nagel International AG, DSV A/S, Deutsche Bahn, Nippon Express Co., Ltd, CEVA Logistics AG, Geodis SA, Expeditors International, Penske Automotive Group, Inc, Kerry Logistics Network Limited, Hyundai Mobis, Mitsui O.S.K. Lines, STAC Co. Ltd., CJ Logistics, Sinotrans Limited, China Ocean Shipping Company, Anji Logistics, Yusen Logistics Co., Ltd., Eddie Stobart Group, Hellmann Worldwide Logistics, Schenker Deutschland AG, BLG Logistics Group AG and Co. KG, Panalpina, Schnellecke, GEFCO, TNT Express, DB Schenker, Maersk, FESCO Transportation Group, CFR Rinkens LLC, Dachser Group SE and Co. KG, Neovia Logistics Services, LLC, Ryder System Inc., XPO Logistics, Inc., C.H. Robinson, UPS Supply Chain Solutions, FedEx, Brasil Terminal Portuário, Tegma Gestão Logística, TASA Logística, Terminal Zárate, ECSA Group, Ultraport, Grupo Puerto de Cartagena, Andina Freight, TISUR, Logística Andina, Globalink Logistics Group, Port of Haifa, ZIM Integrated Shipping Services, DP World, GAC Dubai, Saudi Global Ports, Bahri Logistics, Qatar Ports Management Company, Milaha, Turkon Holding, Mars Logistics, Emirates SkyCargo, Agility Logistics, Imperial Logistics Ltd., Bidvest Panalpina Logistics, Bakers Transport
Which Is the Leading Region in the Global Automotive Logistics Market?
Asia-Pacific was the largest region in the automotive logistics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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