Automotive Logistics Market size to exceed $170 Bn by 2025
Published Date: June 18, 2019 Authors: Ankita Bhutani
Automotive Logistics Market size is slated to surpass USD 170 billion by 2025; according to a new research report by Global Market Insights Inc.
Increasing freight volumes owing to the escalating vehicle production and registrations across the globe are providing strong growth prospects. Growing demand for battery and plug in electric vehicles is positively influencing the automotive logistics industry growth. Increased safety and handling requirements of batteries and electric motors will promote the secure transportation activities.
Utilization of contract logistics is prominently enhancing the productivity of automotive supply chain activities. Logistics service providers are offering specialized services and secure transportation solutions. Moreover, increasing inclination of automotive OEM’s towards utilizing freight forwarding services offering shorter transit time and cost-effective solutions will play a vital role in intensifying the automotive logistics market.
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Expansion of manufacturing facilities globally are providing potential opportunities to logistics service providers for enhancing their market share. Growing requirement for efficient supply of raw materials and finished components by OEM’s is significantly inducing the demand for automotive logistics. However, growing prominence of IoT in automotive logistics will provide potential opportunities for optimizing the supply chain operations.
Rapid advancements in autonomous vehicles and drone technologies are augmenting the market growth. Rising requirements for improving the transportation efficiency and inventory management will further support the market revenue.
Browse key industry insights spread across 200 pages with 308 market data tables & 10 figures & charts from the report, “Automotive Logistics Market Size By Activity (Warehousing, Transportation [Roadways, Railways, Airways, Waterways]), By Service (Inbound, Outbound, Reverse, Aftermarket), By Distribution (Domestic, International), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Logistics service providers are continuously expanding their business operations by establishing contract with automotive OEM’s. Improving infrastructure facilities are spurring the industry size.
Aftermarket logistics segment is projecting a higher visibility through 2025 on account of rising freight volumes of automotive spare parts and accessories. Increasing demand for service parts availability along with strong aftermarket supply chain networks will drive the automotive logistics market revenue.
International logistics distribution is poised to witness a substantial growth till 2025 led by increasing import and export activities of finished vehicles and automotive components. Additionally, international trading laws and changing import duties will boost the market demand.
Asia Pacific is anticipated to observe an exponential gain in the automotive logistics sector impelled by strong presence of vehicle manufacturers and production facilities. Surging adoption of electric vehicles will provide a positive market outlook.
The key automotive logistics market players include CEVA Logistics, DHL International GmBH, XPO Logistics, Inc. SNCF Group, Kuehne + Nagel, DSV, Ryder Systems, Inc., Imperial Logistics, Hellmann, and SCHNELLECKE GROUP AG & CO. KG. The companies are adopting different strategies such as mergers & acquisitions, new product developments, joint ventures and other form of partnerships to increase their market share.