New study report, titled “Global Automotive Spare Parts Logistics Market 2016-2020” includes a comprehensive analysis of the development trends pertaining to the global automotive spare parts logistics market. Regional information, data about key players, market dynamics, and key growth observations listed in the report will help the stakeholders in understanding the major and minor shifts in the market.
As per the findings of the report, the global automotive spare parts logistics market will expand at a CAGR more than 6% between 2016 and 2020. The growing emphasis on after-sales services in the automotive sector is leading to the increased demand for spare parts including service parts, replacement parts, and repair parts, resulting in high revenues and profits for various automotive companies. The demand for spare parts is largely influenced by the revival of the automotive manufacturing industry. Several car manufacturers are collaborating with automotive spare parts producers to develop differentiated and value-added products. The increasing shift in customer preference towards automobiles integrated with innovative and advanced electronics is fuelling the demand for active and passive safety systems, which in turn is working in favor of the market.
On the basis of geography, the global automotive spare parts logistics market is categorized into Asia Pacific, Europe, North America, South America, and the Middle East and Africa. Asia Pacific is estimated to rise at a CAGR faster than any other region during the forecast period. Massive growth in the sales of automobiles have prompted several local and international players to strengthen their market presence in this region. In addition, automotive manufacturers from North America and Europe have started establishing their plants in Asia Pacific due to the low cost of manufacturing in this region. Countries such as Australia, China, India, Japan, Singapore, South Korea, and Taiwan will be the leading revenue contributor in the region.
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Intense competitive rivalry prevails in the global automotive spare parts logistics market as a result of which, players contend fiercely in terms of delivery speed, supply chain capacity, price, and reliability. Several companies are adopting mergers and acquisitions as a go-to strategy to extend their service portfolio. The capital-intensive nature and high technological advancements requirements of the market are posing high entry barriers for new players. However, the increasing production capacity and trade worldwide are boosting the requirement for outsourced logistics and are therefore, attracting new players in the market.
Several manufacturers in the market are adopting technologies such as Kanban and just-in-time, which require seamless inventory transportation, and are outsourcing logistics services to gain traction. The leading companies in the automotive spare parts logistics market are Deustsche Post DHL, DB Schenker, Kuehne + Nagel, CEVA Logistics, and UPS. Some other prominent players operating in the market are BEUMER Group, Broekman Logistics, DSV A/S, Kerry Logistics, FedEx, Ryder System, TVS Logistics, Logwin, SEKO Logistics, Yusen Logistics, and Verst Group Logistics.
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