Automotive Logistics Market Size is Projected To Reach USD 350700 Million By 2028 at a CAGR of 4.3% - Valuates Reports
BANGALORE, India, July 22, 2022 /PRNewswire/ -- The global Automotive Logistics market is segmented by Type - Transportation - Warehousing, Distribution, and Inventory Management, Other, by Application - Finished Vehicle, Auto Components, Others. Global Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Transportation & Logistics Category.
The global Automotive Logistics market size is projected to reach USD 350700 million by 2028, from USD 253630 million in 2021, at a CAGR of 4.3% during 2022-2028.
Major Factors Driving The Growth Of Automotive Logistics Market Are
The tendency of outsourcing logistics operations to outside businesses in the automobile industry is one of the major factors driving the automotive logistics market. Moreover, the digitization of logistics will propel the growth of the automotive logistics market
The automotive logistics market is expected to rise due to increased vehicle production, and the introduction of electric vehicles.
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TRENDS INFLUENCING THE GROWTH OF AUTOMOTIVE LOGISTICS MARKET
The Automotive Logistics market growth is dependent on the demand generated for the automobile industry. Due to increased purchasing power and higher living standards worldwide, the automotive sector is predicted to develop significantly during the forecast period. In emerging nations, this change in lifestyle has increased the sales of automobiles, which is anticipated to fuel the expansion of the automotive logistics market over the forecast period. In addition, the necessity for vehicle spare parts for a sizable existing automobile fleet on the road is anticipated to fuel the market during the course of the forecast period.
The companies in the automobile sector collaborate frequently with those in logistics to move their finished vehicles and component parts from one place to another. Automobile and component manufacturers now have improved control over inbound and outward transportation services, shorter lead times, and on-time deliveries thanks to the growing partnerships. Therefore, the automotive logistics market is expanding as a result of the rising number of collaborations between automakers and logistics providers.
Cost is the main motivating element for modifying a logistics strategy, as it is with almost everything else in business. The most visible components of these costs are labor and tangible assets. They are significant and must be reduced in the auto manufacturing industry. 3PLs could perform at a similar or lower cost since managing logistics is their primary focus. Additionally, because they operate with a variety of industries, they are able to adapt efficiency and cost-saving strategies.
One of the major innovations anticipated to fuel automotive logistics market expansion in the upcoming years is the integration of blockchain technology into finished vehicle logistics systems. A distributed ledger technology called blockchain can safely and permanently record business transactions. By sharing databases across many parties, blockchain effectively eliminates the need for middlemen who were previously necessary to serve as trusted third parties to verify, record, and coordinate transactions. The majority of businesses use this technology to run car logistics operations more cheaply. The transportation process will become more efficient and transparent with the usage of blockchain in the logistics sector for finished automobiles.
Automatic identification, data collecting, and transmission are being implemented using digital technologies like barcodes, OCR, and RFID devices. The precise parameters relating to location, elevation, altitude, and other performance indicators are tracked by geopositioning and navigational satellites. They keep an eye on how the finished car logistics are moving and provide vital information via wireless networks for further analysis and corrective action. Users of automated control systems can evaluate their alternatives and receive advice depending on the circumstances. These elements will encourage the automobile logistics market to grow in the years to come.
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AUTOMOTIVE LOGISTICS MARKET SHARE ANALYSIS
The Transportation Segment is expected to be the most lucrative during the forecast period. The market's present leader, transportation, is anticipated to continue dominating during the anticipated time frame. One of the most important services in the auto industry is transportation. This is due to the fact that automakers purchase components from a wide range of global sectors and then market the final vehicle in a different nation.
The Asia Pacific Market is expected to be the most lucrative during the forecast period. The market for automotive logistics is expanding as a result of the rising demand for electric and plug-in automobiles in the region.
Based on application, the automobile parts segment is expected to be the most lucrative. This is because aftermarket dealers and OEMs concentrate on managing the delivery of spare parts, and because there is a demand for updated parts due to stringent carbon emission standards.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
- Hellmann Worldwide Logistics
- APL Logistics
- BLG Logistics
- CEVA Logistics
- DB Schenker
- DHL Group
- GEFCO
- Kerry Logistics Network
- Kuehne + Nagel
- Penske Logistics
- Ryder System
- DSV
- Expeditors
- Panalpina
- XPO Logistics
- Tiba Group
- Bollore Logistics
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SIMILAR REPORTS
- The global logistics market size is valued at USD 7641.20 billion in 2017 and is projected to reach USD 12975.64 billion by 2027 registering a CAGR of 6.5% from 2020 to 2027.
- The global Freight Forwarding market size is about 186 billion USD in 2021 and is expected to grow at a CAGR of 3.3% in the forecast years till 2028.
- The global Digital Logistics market size is projected to reach USD 22170 million by 2028, from USD 10230 million in 2021, at a CAGR of 11.5% during 2022-2028.
- The global Logistics Automation market size is projected to reach USD 105610 million by 2028, from USD 56800 million in 2021, at a CAGR of 9.1% during 2022-2028.
- The global Last Mile Delivery market size is estimated to be worth USD 42860 million in 2022 and is forecast to a readjusted size of USD 75510 million by 2028 with a CAGR of 9.9% during the review period.
- The global freight brokerage market size is projected to reach USD 77770 million by 2027 from USD 54270 million in 2020 at a CAGR of 5.2% during 2021-2027.
- The global Drone Logistics and Transportation market size is projected to reach USD 12180 million by 2028, from USD 5752.2 million in 2021, at a CAGR of 10.8% during 2022-2028.
- The global express delivery market size was valued at USD 262.86 billion in 2020 and is projected to reach USD 484.38 billion by 2030 registering a CAGR of 6.4% from 2021 to 2030.
- The global Drones market size was USD 4350.27 million in 2020 and it is expected to reach USD 5437 million by the end of 2027, with a CAGR of 3.94% during 2021-2027.
- The global e-commerce logistics market was valued at USD 235.70 billion in 2020, and is projected to reach USD 1,901.97 billion by 2030, growing at a CAGR of 23.5% from 2021 to 2030.
- Air Cargo Containers market size is estimated to be worth USD 256.5 Million in 2022 and is forecast to be a readjusted size of USD 323.5 Million by 2028 with a CAGR of 3.9% during the review period.
- The global Contract Logistics market size is projected to reach USD 242510 million by 2027, from USD 180100 million in 2020, at a CAGR of 3.9% during 2021-2027.
- The global Shipping Software market size is projected to reach USD 2845.2 million by 2027, from USD 1675.6 million in 2020, at a CAGR of 7.9% during 2021-2027.
- The global IoT Fleet Management Market size is projected to reach USD 26410 million by 2027, from USD 6955.7 million in 2020 at a Compound Annual Growth Rate (CAGR) of 21.0% during 2021-2027.
- The global pallet pooling market size is projected to reach USD 12480 million by 2027, from USD 8479.9 million in 2020, at a CAGR of 5.5% during 2021-2027.
- Drone Package Delivery market size will be USD 241.53 Million and it is expected to reach USD 3694.38 Million by the end of 2027, with a CAGR of 57.55% during the forecast period 2021-2027.
- The global Drone Analytics market size is projected to reach USD 2931.6 million by 2028, from USD 1070.7 million in 2021, at a CAGR of 15.4% during 2022-2028.
- Anti-Drone market size is estimated to be worth USD 1323.8 million in 2022 and is forecast to be a readjusted size of USD 5098.4 million by 2028 with a CAGR of 25.2% during the review period.
- The global Military Drone market size is estimated to be worth USD 11770 million in 2022 and is forecast to be a readjusted size of USD 17270 million by 2028 with a CAGR of 6.6% during the review period.
- The global Air Cargo market size is projected to reach USD 111810 Million by 2027, from USD 82570 Million in 2020, at a CAGR of 4.0% during 2021-2027.
- The global Same-day Delivery market size is projected to reach USD 123050 million by 2027, from USD 11620 million in 2020, at a CAGR of 38.5% during the forecast period 2021-2027.
- The Latin America logistics market was valued at USD 542.40 Billion in 2019, and is projected to reach USD 784.60 Billion by 2027, registering a CAGR of 6.2% from 2020 to 2027.
- The global Logistics Services (3PL and 4PL) market size is projected to reach USD 1163180 Million by 2027, from USD 832630 Million in 2020, at a CAGR of 5.2% during 2021-2027.
- The global 3rd party logistics (3PL) market was valued at USD 1027.71 Billion in 2019 and is projected to reach USD 1789.94 Billion by 2027 registering a CAGR of 7.1% from 2020 to 2027.
- The Global Warehouse Management Systems Market Size was valued at USD 2.4 Billion in 2020, and is projected to reach USD 10.6 Billion by 2030, growing at a CAGR of 16.3% from 2021 to 2030.
- The global FMCG market is projected to reach USD 15,361.8 Billion by 2025, registering a CAGR of 5.4% from 2018 to 2025.
- The global Business Travel Market size was valued at USD 695.9 billion in 2020 and is projected to reach USD 2001.1 billion by 2028 growing at a CAGR of 13.2% from 2021-2028.
- The global Same-day Delivery market size is projected to reach USD 123050 million by 2027, from USD 11620 million in 2020, at a CAGR of 38.5% during the forecast period 2021-2027.
- The global parcel delivery market size was USD 47 billion in 2021, it is estimated to grow at a CAGR of 11.5% from 2022 to 2028.
- The global Drop Shipping market size is projected to reach USD 621410 million by 2028, from USD 162550 million in 2021, at a CAGR of 20.7% during 2022-2028.
- The global dry bulk shipping market size is projected to grow from USD 35 billion in 2020 to USD 101 billion by 2027; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 16% from 2021 to 2027.
- The Global Warehouse Management Systems Market Size was valued at USD 2.4 Billion in 2020, and is projected to reach USD 10.6 Billion by 2030, growing at a CAGR of 16.3% from 2021 to 2030.
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