Automotive Logistics Global Market 2024 To Reach $396.79 Billion By 2028 At Rate Of 8.0%
Automotive Logistics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON, UK, July 17, 2024 /EINPresswire.com/ -- The automotive logistics market has experienced robust growth in recent years, expanding 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.
Strong Future Growth Anticipated
The automotive logistics market is projected to continue its strong growth, reaching $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 increasing government support, global population growth and urbanization, increasing production of electric vehicles, and growing e-commerce sales.
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Growth Driver Of The Automotive Logistics Market
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.
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Major Players And Market Trends
Key players 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..
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.
Segments:
1) By Type: Outsourcing, Insourcing
2) By Activity: Warehousing & Handling, Transportation & 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
Geographical Insights: North America Leading The Market
North America was the largest region in the automotive logistics market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of automotive logistics.
Automotive Logistics Market Definition
Automotive logistics refers to a set of activities conducted for the smooth transportation of automotive spare parts and finished vehicles. Automotive logistics consists of inbound procurement, outsourcing & distribution of spare parts, and transporting finished vehicles domestically or internationally. The complexity of the supply chain of automotive logistics requires process planning to achieve maximum efficiency in manufacturing.
Automotive Logistics Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Automotive Logistics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive logistics market size, automotive logistics market drivers and trends, automotive logistics market major players, automotive logistics competitors' revenues, automotive logistics market positioning, and automotive logistics market growth across geographies. The automotive logistics market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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