Home News According to a Projection From Transparency Market Research, Inc., The Global Market for Automobile Logistics Would Be Valued $589.1 Billion by 2031

According to a Projection From Transparency Market Research, Inc., The Global Market for Automobile Logistics Would Be Valued $589.1 Billion by 2031

According to a Projection From Transparency Market Research, Inc., The Global Market for Automobile Logistics Would Be Valued $589.1 Billion by 2031

Transparency Market Research Inc. – According to a recent market research report, the automotive logistics industry was valued at US$ 327.4 Bn in 2021, and is estimated to reach the value of US$ 589.1 Bn by 2031. It also projects that the global market would expand at a CAGR of 6% during the forecast period from 2022 to 2031. Automotive manufacturers around the world are adopting several software-based systems to manage different types of logistical processes. This trend is aiding in enhancing supply chain transparency, as well as the efficiency of operations in the automotive logistics sector. The automotive logistics industry growth can be attributed to rising in the usage of freight or transportation management services by end-users in several industries. Automotive Logistics Market – Key Findings of Report

  • Expansion of E-commerce Sector Propels Market Growth: Logistics services are utilized by stakeholders in the e-commerce sector to monitor and efficiently manage their delivery, distribution, and supply chains. The increase in the adoption of smartphones and the growing penetration of high-speed internet services are propelling market demand within the global e-commerce industry. Young individuals, who are more tech-savvy, are increasingly opting for online purchasing, to select from a wide range of products, for the comfort of shopping from their houses, and to avail of e-commerce platform-sponsored discounts. The expansion of the e-commerce sector is boosting demand for automotive logistics services.

Automotive Logistics Market – Growth Drivers

  • The rise in the trend of outsourcing manufacturing of automotive components offers attractive business opportunities for industry players
  • An increase in the usage of emerging technologies, such as linked ships, the Internet of Things, and Big Data to enhance supply chain management bolsters market development
  • The rapid expansion of the e-commerce industry propels the automotive logistics market

Automotive Logistics Market – Key Players Leading players profiled in the automotive logistics market research are Bollore Transport & Logistics, CJ Logistics Corporation, DHL International GmbH, GEODIS, Imperial Logistics, Nippon Express Co., Ltd., Schnellecke Group AG & Co. KG, United Parcel Service of America, Inc. (UPS), BLG Logistics Group AG & Co. KG, Dachser Group SE & Co. KG, DSV AS, GEFCO, Kerry Logistics Network International AG, Panalpina World Transport (Holding) Ltd., Sinotrans Limited, XPO Logistics, Inc., CEVA Logistics, Expeditors International of Washington, Inc., Hellmann Worldwide Logistics GmbH & Co. KG, Kuehne + Nagel International AG, Ryder System, Inc., and SNCF. The global automotive logistics market has a consolidated competitive landscape, owing to the presence of a large number of multinational players accounting for the majority market share. Market players are leveraging the power of new and emerging technologies to set themselves apart from their competitors. Industry stakeholders are collaborating with technology providers to leverage the power of new technologies. Other growth strategies employed by key market players include mergers and acquisitions, as well as expansion of existing services portfolios. Automotive Logistics Market – Regional Growth Assessment The largest market size was held by Asia Pacific in 2021. This can be ascribed to the growth of the regional automotive industry, the rise in demand for passenger vehicles, and the increased availability of inexpensive labor in several economies. Furthermore, the presence of manufacturing facilities of numerous leading automotive original equipment manufacturers (OEMs), such as Hyundai, Toyota, and Maruti Suzuki, in Asia Pacific also aids in the expansion of the regional market. Growth of the regional automotive space component logistics sector is estimated to offer several lucrative business opportunities for industry players and stakeholders operating in Europe. Additionally, the rise in demand for smart electric vehicles, the increased focus of OEMs on rearranging and improving the management of supply chains in the region, and the presence of stringent government regulations and guidelines are some other notable drivers boosting the market growth in Europe.

Automotive Logistics Market: Segmentation

Automotive Logistics Market, Industry Type

  • Manufacturing
  • Retail & Consumer Products
  • TelecommElectronics
  • Healthcare & Pharmaceuticals
  • Food & Beverage
  • Others

Automotive Logistics Market, by Service Type

  • Transportation/Freight Management
  • Warehousing
  • Others

Automotive Logistics Market, by Distribution

  • Domestic
  • International

Automotive Logistics Market, by Transportation Type

  • Roadways
  • Railways
  • Waterways
  • Airways

Automotive Logistics Market, by Logistics Service

  • Inbound
  • Outbound
  • Reverse
  • Aftermarket

Automotive Logistics Market, by Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America