To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver
- Market Challenges
The increasing average vehicle age and rising free trade agreements in Europe are some of the key market drivers. The use of quality parts is encouraging customers to use their vehicles for the full life cycle. In addition, customers are also making retrofit investments to prolong the life of their old vehicles. Moreover, the increasing average vehicle cost is limiting the sale of new vehicles. As a result, the demand for spare parts logistics will also increase. In addition, increasing electronic components trade between India and China and rising free trade agreements in Europe. Furthermore, the adoption of Industry 4.0 to enhance the overall operating efficiency will be one of the critical spare parts logistics market trends augmenting the growth prospects of the spare parts logistics market. The use of Internet of Things (IoT), cloud computing, cognitive computing, and cyber-physical system in Industry 4.0 will enable manufacturers to increase their output, streamline operations, reduce business risk, and ensure business growth.
However, factors such as the adoption of 3D printing in the manufacturing industry, growing adoption of electric vehicles, and the shortage of skilled drivers in the logistics market will challenge market growth during the forecast period.
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The spare parts logistics market report is segmented by End-user (automotive, electronics, industrial, aerospace, and others) and Geography (APAC, Europe, North America, South America, and MEA). The automotive end-user segment held the largest spare parts logistics market share and will continue to retain its market dominance in the market during the forecast period. In terms of geography, APAC will be the leading region with 44% of the market's growth during the forecast period. China is a key market for spare parts logistics in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The regional growth can be attributed to the increase in hardware spending and government initiatives to develop logistics infrastructure.
View our sample report for additional insights into the contribution of all the segments and regional opportunities
Some Companies Mentioned
- CEVA Logistics AG
- Deutsche Bahn AG
- Deutsche Post DHL Group
- DSV Panalpina AS
- FedEx Corp.
- Kuehne Nagel International AG
- Nippon Express Co. Ltd.
- Toyota Tsusho Corp.
- United Parcel Service Inc.
- XPO Logistics Inc.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
Related Reports:
Spare Parts Logistics Market in Europe by End-user and Geography - Forecast and Analysis 2021-2025
Intermodal Freight Transportation Market by Product and Geography - Forecast and Analysis 2021-2025
Spare Parts Logistics Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of over 7.00% |
Market growth 2021-2025 |
USD 25.36 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.48 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 44% |
Key consumer countries |
China, US, Germany, UK, and Canada |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
CEVA Logistics AG, Deutsche Bahn AG, Deutsche Post DHL Group, DSV Panalpina AS, FedEx Corp., Kuehne Nagel International AG, Nippon Express Co. Ltd., Toyota Tsusho Corp., United Parcel Service Inc., and XPO Logistics Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by End-user
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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SOURCE Technavio
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