Accelerated Growth Fueled by Efficient Vehicle Delivery

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, January 4, 2024 /EINPresswire.com/ — The global automotive logistics market is on a trajectory of significant expansion, poised to grow from $245.45 billion in 2022 to $266.82 billion in 2023, marking a substantial compound annual growth rate (CAGR) of 8.7%. This positive momentum is projected to persist, forecasting a market size of $340.34 billion in 2027, with a slightly reduced CAGR of 6.3%.

Driving Forces Behind Market Growth:
The key catalyst driving the growth of the automotive logistics market is the increasing efficiency in finished vehicle logistics. Finished vehicle logistics involves a series of stages and processes ensuring the safe delivery of cars to end customers, encompassing both domestic and international transportation. As the automotive industry seeks safer and more efficient methods for delivering cars, the demand for automotive logistics experiences a boost. Notably, India’s intercity road logistics spending reached USD 209 billion in 2021, exhibiting an annual compounding growth rate of 8%. This exemplifies the global trend towards increased efficiency in finished vehicle logistics, propelling the growth of the automotive logistics market.

Explore the Global Automotive Logistics Market with a Detailed Sample Report:

Major Players Shaping the Industry:
Influential players shaping the automotive logistics market include Penske Corporation, Deutsche Post DHL Group, XPO Logistics Inc., SNCF, Panalpina World Transport (Holding) Ltd., DSV A/S, Ryder Systems Inc., CEVA Logistics, Nippon Express, Expeditors International, BLG Logistics, DB Schenker, Hellmann Worldwide Logistics, GEFCO, Schnellecke Group AG & Co. KG, Hitachi Transport System Ltd., Neovia Logistics Services LLC., CFR Rinkens, GEODIS, Kerry Logistics Network Limited, Dachser Group SE & Co. KG, Yusen Logistics Co. Ltd., and Neovia Logistics Services LLC.

Key Trend: New Product Innovations:
A notable trend gaining prominence in the automotive logistics market is the surge in new product innovations. Leading companies in the automotive logistics sector are actively engaged in developing innovative products to maintain their market positioning. For example, Tata Motors, an India-based company specializing in manufacturing logistic automobile trucks, launched the Ultra Sleek T-Series trucks in March 2021. These trucks leverage smart truck technology, offering diverse deck lengths from 10 to 20 feet to accommodate various applications, facilitating the transportation of more automotive logistics in a single journey.

Regional Dynamics:
•Asia-Pacific Leads: In 2022, Asia-Pacific emerged as the largest region in the automotive logistics market.
•Asia-Pacific Growth Projection: Asia-Pacific is anticipated to be the fastest-growing region during the forecast period.

Segmentation Overview:
The global automotive logistics market is segmented based on key parameters:
•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

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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 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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