The automotive logistics market is set to grow from its current market value of more than USD 115 billion to over USD 170 billion, as reported in the latest study by Global Market Insights Inc.
With automakers looking to offer a wide range of vehicle models to cater to varying customer demands, global automotive logistics market is projected to experience substantial business growth over the forthcoming years. Apparently, a single car series model from a premium German vehicle brand can be available in approximately 1,017 possible variations. The unprecedented level of complexity, driven by product variety and the immense pressure exerted on industry players due to tough international competition makes it considerably difficult for automakers to ensure efficient logistics operations.
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The benefits offered by automotive logistics service providers, while enabling automakers in creating an international footprint, also frees resources up to focus on any new opportunities and challenges. Subsequently, automotive logistics industry has become a major influence on domestic and international automotive sector, supporting the development of many small and medium enterprises.
Automobile and auto parts shipping services are typically hired by private owners, being a convenient means to transport customers’ vehicle from one place to another. The entire process involves loading the vehicle on a dedicated truck and shipping it to its destination. In extreme cases vehicles can also be shipped on freight carriers or cargo planes, a prominent example being the UK’s supercar season, annual phenomenon wherein wealthy individuals, especially from Gulf regions, ship their supercars to the UK for vacationing and exhibitions. Apart from licensing and custom fees, shipping a car using cargo planes costs approximately £20,000 per vehicle per trip.
Growing intensity of vehicle production would be further providing a sizable boost to the automotive logistics market. According to a 2019 report by Volkswagen, deliveries by VW Commercial Vehicles division in 2018 amounted to approximately 500,000 vehicles, an increase on the numbers from the preceding year. The positive growth which leading companies like VW are experiencing, even in a slowing market landscape, would be providing further growth opportunities to the automotive logistics industry players.
Asia Pacific is projected to emerge as one of the dominant customer base for auto parts, with the anticipated demand being credited to the domestic auto manufacturing sector and a strong presence of global automobile manufacturers. India, specifically, is estimated to contribute substantial revenues to automotive logistics market over the forecast timeframe. The Society of Indian Automobile Manufacturers stated that passenger vehicle sales increased by 2.70% over March-April 2019 in India. The nation’s commercial vehicles segment also recorded a 17.55% growth in the quarter, as compared to the same period the previous year.
Japan will be a key market for domestic automotive logistics services and the country’s contribution is being attributed to well-established automobile manufacturers such as Toyota, Nissan and Honda that call Japan their home. Toyota, for instance, has its parts and logistics division network spanning across 38 countries, with over 177 dedicated sites that are operated by more than 79 overseas business entities and subsidiaries. Such vast networks are exactly why Japanese automakers enjoy a strong presence in different countries and will drive the expansion of the regional automotive logistics industry.
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Some Point from Table of Contents:
Chapter 5. Automotive Logistics Market, By Service
5.1. Global automotive logistics market share by service, 2018 & 2025
5.2.1. Global market estimates and forecasts, 2013 – 2025
5.2.2. Market estimates and forecast, by region, 2013 – 2025
5.3.1. Global market estimates and forecasts, 2013 – 2025
5.3.2. Market estimates and forecast, by region, 2013 – 2025
5.4.1. Global market estimates and forecasts, 2013 – 2025
5.4.2. Market estimates and forecast, by region, 2013 – 2025
5.5.1. Global market estimates and forecasts, 2013 – 2025
5.5.2. Market estimates and forecast, by region, 2013 – 2025
Chapter 6. Automotive Logistics Market, By Distribution
6.1. Global automotive logistics market share by distribution, 2018 & 2025
6.2.1. Global market estimates and forecasts, 2013 – 2025
6.2.2. Market estimates and forecast, by region, 2013 – 2025
6.3.1. Global market estimates and forecasts, 2013 – 2025
6.3.2. Market estimates and forecast, by region, 2013 – 2025
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