Automotive Logistics Market on Track to Hit $433.6 Billion Globally by 2031 with a 6.1% CAGR : Allied Market Research
OREGAON, PORTLAND, UNITED STATESย , July 5, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, โAutomotive Logistics Market1," The automotive logistics market was valued at $241.70 billion in 2021, and is estimated to reach $433.6 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031.
Automotive Logistics Market Size, Share, Competitive Landscape and Trend Analysis Report by Service, by Type, by Mode of Transport, by Distribution Area : Global Opportunity Analysis and Industry Forecast, 2021-2031
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ - https://www.alliedmarketresearch.com/request-sample/A31507
Asia-Pacific is expected to dominate the global automotive logistics market. The growth of the market in Asia-Pacific is majorly attributed to the booming e-commerce industry in emerging economies in the region. High government support for development of logistics infrastructure in the region is boosting the market growth. Furthermore, strong economy of Japan, development of infrastructure, and rise in trade facilitation through agreements, such as South Asian Preferential Trade Agreement (SAPTA) are factors that are expected to foster the growth of the automotive logistics industry during the forecast period.
Drivers, restraints, and opportunities
A prominent expansion of global trade activities, a thriving e-commerce sector, and a surge in free-trade agreements between various countries are expected to prop up the growth of the automotive logistics market2 across the globe. Apart from this, an increase in the number of seaports across the globe will boost global market trends. Nonetheless, strict fuel emission norms can restrict the growth of the global industry. However, technological innovations such as machine-to-machine communication have brought a paradigm shift in the transport sector, particularly in waterway transportation. This, in turn, is likely to create new growth avenues for the automotive logistics market globally.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/automotive-logistics-market/purchase-options
The land segment to dominate the global market in terms of revenue in 2031
Based on the mode of transport, the land segment is set to contribute to the highest market share in 2021, accounting for nearly two-thirds of the global automotive logistics market share. Furthermore, the segment is projected to contribute majorly toward the global market share during the forecast period. The growth of the segment over the assessment period is attributed to a rise in investments in road transport activities as they require lesser investments compared to railway and air transportation. Apart from this, the rise in the export and import of goods through land has propelled segmental growth. However, the sea segment will record the fastest CAGR of 7.5% from 2022 to 2031. The growth of the segment over the forecast timeframe can be due to a rise in the transportation of key goods via sea route.
The domestic segment to hold the major market share over 2022-2031
On basis of the distribution area, the domestic segment contributed to the largest market share in 2021, accounting for nearly two-thirds of the global automotive logistics market share. Furthermore, the same segment is anticipated to dominate the growth of the global market over the forecast period. The growth of the segment over the assessment period is subject to a rise in domestic services including goods delivery and sending of documents from one place to destination in a country such as cargo transport, document courier, and parcel delivery. However, the international segment is predicted to record the highest CAGR of 7.3% over the forecast period. The growth of the segment over the forecast timeline can be credited to the large-scale distribution of goods and logistics from one country to another country through flight and sea routes.
The transportation segment to lead the global market growth over the forecast period
In terms of service, the transportation segment contributed to the highest market share in 2021, accounting for nearly four-fifths of the global automotive logistics market share. Moreover, the same segment is set to make notable contributions toward the global market share in 2031. The growth of the segment over the forecast timeline can be credited to the rise in the use of transportation management software for optimizing routes, handling carriers, and transforming paper-based documentation into digital/analog. Furthermore, transportation management software helps in reducing freight costs, track deliveries in real-time, and enhance customer service. However, the warehousing segment is predicted to register the fastest CAGR of 7.4% during the forecast timeline. The segmental growth over the forecast timeframe can be attributed to the growing penetration of robots in warehouse management activities3. In addition, warehouses are making use of robotic systems in various warehouse & logistics processes such as picking, sorting, packing, transporting, and inspection.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ญ๐จ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐ญ๐ก๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/A31507
Major market players
A.P. Moller-Maersk
CEVA Logistics AG
C.H. Robinson Worldwide, Inc.
DB Schenker
Deutsche Post AG
DSV A/S
FedEx Corporation
Hellmann Worldwide Logistics SE & Co.KG
Kuehne + Nagel International AG
Nippon Express Co., Ltd
Schenker Deutschland AG
United Parcel Service of America, Inc.
The report analyzes these key players in the global automotive logistics market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.
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By service, the warehousing segment is anticipated to exhibit significant growth in the near future.
By type, the finished vehicles segment is anticipated to exhibit significant growth in the near future.
By mode of transportation, the sea segment is anticipated to exhibit significant growth in the near future.
By distribution area, the international segment is anticipated to exhibit significant growth in the near future.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ ๐๐๐ฏ๐ ๐จ๐ง ๐๐จ๐ ๐ข๐ฌ๐ญ๐ข๐๐ฌ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
https://www.alliedmarketresearch.com/government-and-education-logistics-market-A07810 - Global Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/finished-vehicles-logistics-market-A14583 - Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/project-logistics-market-A10278 - Global Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/timber-logistics-market-A10280 - Global Opportunity Analysis and Industry Forecast, 2023-2032
David Correa
Allied Market Research
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1 https://www.alliedmarketresearch.com/automotive-logistics-market-A31507
2 https://www.prnewswire.com/news-releases/automotive-logistics-market-to-reach-433-6-billion-globally-by-2031-at-6-1-cagr-allied-market-research-301646182.html
3 https://www.alliedmarketresearch.com/press-release/automotive-logistics-market.html
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