Pune, India, Feb. 28, 2023 (GLOBE NEWSWIRE) -- The global automotive logistics market size in terms of revenue was estimated to be worth USD 256.85 billion in 2020 and is poised to grow from USD 262.06 billion in 2021 to USD 393.71 billion in 2028, growing at a CAGR of 6.0% from 2021 to 2028.Fortune Business Insights™ mentioned this in a published report, titled, “Automotive Logistics Market, 2021-2028.”
KEY INDUSTRY DEVELOPMENTS:
GEFCO formed a partnership through its subsidiary in the UAE with the leading smart trade enabler, DP World, UAE Region, for new car solutions. It now offers automotive customers a flexible, integrated solution for vehicle storage and handling in covered parking DP World, UAE Region’s flagship, Jebel Ali Port.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 6.0% |
| 2028 Value Projection | USD 393.71 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 256.85 Billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 200 |
| Segments covered | Automotive Logistics Market Size, Share & COVID-19 Impact Analysis, By Activity (Warehousing & Handling, Transportation & Handling), By Type (Finished Vehicle, Automobile Parts), By Mode of Transport (Roadways, Airways, Maritime, Railways), By Distribution (Domestic, International) |
| Growth Drivers | Rising Usage of Software-based Systems to Accelerate Growth |
| Key Players Aim to Form New Partnerships or Extend Existing Ones to Compete |
Drivers & Restraints-
Nowadays, automakers are adopting software-based systems to manage their logistics processes globally. These systems are providing numerous benefits, such as high operational efficiency and supply chain transparency. General Motors, for instance, is considered to be an early adopter of the Outbound Logistics Software by NetSuite. It is helping the company to ramp up deliveries and utilize trucks in a better way amid the COVID-19 pandemic. The software features geofencing technology and onboard asset telematics. It would propel the automotive logistics market growth in the upcoming years.
However, the increasing freight rates because of the lack of truck drivers may hinder the demand for automotive logistics. In Germany, alone, for instance, on an average, around 30,000 drivers retire every year. During replacements, only 2,000 fully trained drivers are available.
COVID-19 Impact-
Lower Dependence on Asia and U.S. for Semiconductors to Drive Growth amid COVID-19
Governments of various countries worldwide are putting forward concrete plans to bring back supply chains to normalcy amid the COVID-19 pandemic. The European Union (EU), for instance, launched the Digital Compass strategy in March 2021. It would help in lowering the dependence on the U.S. and Asia Pacific for the supply of semiconductors used in vehicles. At the same time, the U.S. government initiated a new plan to improve research and domestic semiconductor production activities in June 2021. It is set to provide funds worth USD 50 billion for the same. It is also aiming to introduce a 10-year plan to accelerate domestic supply chains, especially for electric vehicle batteries. Such initiatives by government bodies would drive the demand for automotive logistics amid the pandemic.
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Report Coverage-
We have followed an ultra-modern research methodology that contains data triangulation on the basis of bottom-up and top-down approaches. We have also conducted primary research to authenticate the estimated size of the automotive logistics industry. The information used to validate the forecast for multiple segments at the country, regional, and global levels is gathered through interviews with various stakeholders.
Segments-
Transportation & Handling Segment Remained Dominant in 2020
By activity, the market for automotive logistics is segregated into transportation & handling and warehousing & handling. Out of these, the transportation & handling segment generated the largest automotive logistics market share in 2020. This growth is attributable to the rising investment by companies in data-driven solutions to bolster the transportation efficiency. Telematics solutions, for instance, can help in managing a truck’s route efficiently. In case of a delay, real-time data can be sent to the plant. This way, car manufacturers can resolve these issues.
Regional Insights-
Asia Pacific Stood at USD 130.99 billion in 2020: Fortune Business Insights™
- In 2020, Asia Pacific procured USD 130.99 billion in terms of revenue. The high demand for automotive logistics services from OEMs would aid growth in this region. GEFCO, for instance, developed a new subsidiary in Chongqing for importing and exporting vehicles by rail networks between China, Russia, and Europe. It also chose China for every logistics activity.
- In Europe, the rising focus of OEMs on the remodeling of their supply chains to avoid complete dependence on a particular region would spur growth.
- The surging optimization of multimodal logistics chains and the rising improvements in the infrastructure to lower costs would propel growth in North America.
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Competitive Landscape-
The market for automotive logistics contains major companies, such as CEVA, GEFCO, Ryder System, Inc., DSV, and others. Most of them are either forming new partnerships with local companies or are extending the existing ones. This is helping them to bring innovation in their facilities and warehouses. Below is one of the latest industry developments: June 2021: DHL Supply Chain signed an agreement to broaden its partnership with Locus Robotics. It would help the company to boost its Accelerated Digitalization Strategy as it is planning to implement around 2,000 robots by 2022. They will help with inventory replenishment and picking, thereby augmenting the delivery process and surging efficiency.
List of Key Players Covered in the Automotive Logistics Market Report:-
- DB Schenker (Essen, Germany)
- BLG LOGISTICS GROUP AG & Co. KG (Bremen, Germany)
- CEVA Logistics (Baar, Switzerland)
- Kuehne+Nagel (Feusisberg, Switzerland)
- Expeditors International (Washington, U.S.)
- DSV (Hedehusene, Denmark)
- XPO Logistics, Inc. (Connecticut, United States)
- Deutsche Post AG (Bonn, Germany)
- SINOTRANS Limited (Beijing, China)
- C.H. Robinson Worldwide, Inc. (Minnesota, United States)
- GEFCO (Paris, France)
- Ryder System, Inc. (Florida, U.S.)
- Schnellecke group ag & co. Kg (Wolfsburg, Germany)
- Penske Automotive Group, Inc. (Michigan, U.S.)
- Others
Automotive Logistics Market Segmentation:-
By Distribution
- Domestic
- International
By Mode of Transport
- Roadways
- Airways
- Maritime
- Railways
By Activity
- Warehousing & Handling
- Transportation & Handling
By Type
- Finished Vehicle
- Automobile Parts
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Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Porter’s Five Forces Analysis
4.2 SWOT Analysis
4.3 Technological Developments
4.4 Distributor Analysis
4.5 Impact of COVID-19
5. Global Automotive Logistics Market Analysis, Insights and Forecast, 2017-2028
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Distribution
5.2.1 Domestic
5.2.2 International
5.3. Market Analysis, Insights and Forecast – By Mode of Transport
5.3.1 Roadways
5.3.2 Airways
5.3.3 Maritime
5.3.4 Railways
5.4. Market Analysis, Insights and Forecast – By Activity
5.4.1 Warehousing & Handling
5.4.2 Transportation & Handling
5.5. Market Analysis, Insights and Forecast – By Type
5.5.1 Finished Vehicle
5.5.2 Automobile Parts
5.6. Market Analysis, Insights and Forecast – By Region
5.6.1 North America
5.6.2 Europe
5.6.3 Asia Pacific
5.6.4 Rest of the World
Continued…
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