The Business Research Company’s Automotive Logistics Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
— The Business Research Company
LANDON, GREATER LANDON, UK, November 13, 2023 /EINPresswire.com/ — The global automotive logistics market, which achieved a valuation of $245.45 billion in 2022, is anticipated to reach $266.82 billion in 2023, marking a robust compound annual growth rate (CAGR) of 8.7%. Despite the disruptions caused by the Russia-Ukraine conflict hindering global economic recovery from the COVID-19 pandemic, the automotive logistics market is poised for substantial growth, projected to hit a value of $340.34 billion by 2027. These global upheavals have triggered economic sanctions, commodity price escalations, and supply chain disruptions, resulting in inflationary pressures across various sectors, impacting markets worldwide.
Key Drivers: Enhanced Efficiency in Finished Vehicle Logistics
The surge in efficiency within the finished vehicle logistics sector is expected to be a significant driver fostering the growth of the automotive logistics market. Finished vehicle logistics involves a sequence of processes and stages aimed at the secure delivery of cars to end customers, encompassing both domestic and international transport and delivery. This process is a crucial component utilized by the automotive industry for the safe and efficient delivery of vehicles. For example, as reported by Economic Times Auto in December 2021, India witnessed a substantial increase in intercity road logistics spending, reaching $209 billion, with an annual compounded growth rate of 8%. Consequently, the drive towards enhanced efficiency in finished vehicle logistics is a significant factor propelling the expansion of the automotive logistics market.
Gain comprehensive insights into the global automotive logistics market through a detailed sample report:
Trends: Focus on New Product Innovations
A notable trend gaining traction in the automotive logistics market is the focus on new product innovations by major companies within the sector. These innovative products play a crucial role in ensuring sustainable market positioning. For instance, in March 2021, Tata Motors, an India-based manufacturer of logistic automobiles, introduced the Ultra Sleek T-Series trucks, incorporating smart truck technology. These trucks are equipped with variable deck lengths ranging from 10 to 20 feet, accommodating diverse applications and enabling the transportation of higher volumes of automotive logistics at a single time.
• Type: Outsourcing, Insourcing
• Activity: Warehousing & Handling, Transportation & Handling
• Mode of Transport: Roadways, Airways, Railway, Maritime
• Services: Transportation, Warehousing, Packaging Processes, Integrated Service, Reverse Logistics
• Distribution: Domestic, International
Key Market Players: Leading the Charge in Innovation and Service Delivery
Penske Corporation, Deutsche Post DHL Group, and XPO Logistics Inc., among others, are key players actively driving innovation and service delivery within the automotive logistics market, solidifying their prominent positions in the industry.
Geographical Insights: Asia-Pacific Dominates, Anticipated Growth in the Region
With Asia-Pacific leading the automotive logistics market in 2022, the region is expected to witness the fastest growth during the forecast period. The comprehensive market analysis report provides detailed insights into regional dynamics, market trends, and growth prospects, offering a comprehensive understanding of the global market landscape.
Access the complete report for an in-depth analysis of the global automotive logistics market:
Automotive Logistics Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Automotive Logistics Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on automotive logistics market size, automotive logistics market drivers and trends, automotive quality logistics market major players, competitors’ revenues, market positioning, and market growth across geographies. The automotive logistics market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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