Automotive Logistics Market Global Industry Analysis and Forecast (2024-2032) | IMR
Automotive Logistics Market Size Was Valued at USD 298.21 Billion in 2023 and is Projected to Reach USD 574.14 Billion by 2032, Growing at a CAGR of 7.55 % From 2024-2032.
Automotive logistics involves the planning, coordination, and management of the transportation, storage, and distribution of vehicles, parts, and components throughout the automotive supply chain, from manufacturing plants to dealerships or end customers.
Automotive logistics is a crucial aspect of the automotive industry, encompassing transportation, storage, and distribution processes. It plays a vital role in supply chain management, supporting production by ensuring timely delivery of raw materials, components, and parts to production facilities. It also supports the distribution of finished vehicles from manufacturing plants to dealerships or end customers, coordinating vehicle transport, storage, and delivery using various modes of transportation. Inventory management is also crucial, implementing tracking systems, optimizing storage space, and replenishing stock to meet customer demand while minimizing excess inventory and associated costs.
Companies Covered in the Report: UPS Supply Chain Solutions (US),Penske Logistics (US),XPO Logistics (US),FedEx Supply Chain (US),C.H. Robinson (US),Expeditors International (US),ArcBest Corporation (US),Ryder System (US),DHL Supply Chain (Germany),DB Schenker (Germany),Dachser (Germany),Hellmann Worldwide Logistics (Germany),Bollore Logistics (France),Geodis (France),SNCF Logistics (France),CEVA Logistics (Switzerland),Nippon Express (Japan),Kintetsu World Express (Japan),Hitachi Transport System (Japan),Yusen Logistics (Japan),KWE Kintetsu World Express (Japan),Agility Logistics (Kuwait), and other major players
Automotive Logistics Market Trend Analysis:
Increasing automotive industry globalization
Increasing automotive industry globalization refers to the trend of automotive manufacturers and suppliers expanding their operations and supply chains across international borders to leverage cost advantages, access new markets, and enhance competitiveness. Automotive companies seek to tap into emerging markets with growing demand for vehicles. By establishing manufacturing facilities and distribution networks in these regions, they can access a larger customer base and increase sales volume.
The Automotive Logistics Market Segmentation:
Automotive Logistics Market is Segmented based on transport mode, service type, vehicle type, and distribution.
By Transport Mode, Roadways segment is expected to dominate the market during the forecast period
Road transportation is a crucial last-mile connectivity mode that facilitates the movement of vehicles and parts from manufacturing plants to dealerships and end customers. It offers flexibility, versatility, speed, and timeliness compared to other modes like rail or sea. Road transportation can reach remote locations, navigate urban areas, and accommodate varying shipment sizes and types. It also provides faster transit times and shorter lead times, making it ideal for just-in-time production schedules and customer delivery expectations.
By Type
• Automobile Parts
• Finished Vehicles.
By Service
• Transportation,
• Warehousing,
• Distribution,
• Inventory Management.
By Mode of Transport
• Roadways,
• Airways,
• Maritime,
• Railways
Key Industry Developments in the Automotive Logistics Market:
• In July 2023, Penske Truck Leasing announced it had recently completed the acquisitions of Star Truck Rentals, Inc., a transportation services company offering full-service leasing, and commercial truck rental, The acquisition of Star Truck Rentals, Inc. increases Penske’s existing fleet by approximately 1,900 vehicles and adds 18 locations throughout Michigan and Indiana. The acquisition of Kris-Way Truck Leasing, Inc. increases Penske’s existing fleet by approximately 900 vehicles and adds seven locations throughout Maine and New Hampshire.
• In February 2022, Global logistics company C.H. Robinson and Waymo Via, the trucking and local delivery unit of autonomous driving technology company Waymo, formed a long-term strategic partnership to mutually explore the practical application of autonomous driving technology in logistics and supply chains. The partnership combines the benefits of Waymo’s innovative autonomous driving technology. The collaboration will focus, initially, on running multiple pilots in the Dallas-Houston transportation lane, with Waymo Via autonomous trucks hauling C.H. Robinson’s customer freight. the companies will collaborate to shape the future development and expansion of autonomous driving technology as an additional transportation solution.
#modernbusinessnetwork#modernusinessindia#modernaviationtimes #modernbusinessamerica #modernbusinesseurope#modernautomobileindia #modernbusinessasia#modernbusinessgulf#modernagriculturetimes #modernbusinessgerman#modernbusinessworld#modernbusinesstimes #modernbusinessindiamagazine#magazine