The Asia Pacific automotive logistics market accounted for US$ 87.59 Bn in 2018 and is expected to grow at a CAGR of 7.4% over the forecast period 2019-2027, to account for US$ 170.24 Bn in 2027
NEW YORK, Nov. 6, 2019 /PRNewswire/ --
The Asia Pacific automotive logistics market accounted for US$ 87.59 Bn in 2018 and is expected to grow at a CAGR of 7.4% over the forecast period 2019-2027, to account for US$ 170.24 Bn in 2027. The strategic partnerships among logistics providers & automobile manufacturers and the increase in the number of manufacturing units for automobile are boosting the automotive logistics market growth. Moreover, the adoption of advanced technologies is expected to boost the automotive logistics market. Cloud technology is one of the key technologies which is anticipated to furnish the logistic companies growth in the years to come. Cloud technology offers several benefits to the transportation company, such as better customer experience in terms of speed, lower prices, and the ability to track goods. Cloud technology facilitates logistics service providers to manage their businesses efficiently, allowing continuous communication with suppliers and customers. Additionally, the autonomous vehicles segment especially, the passenger car segment is gaining substantial popularity in recent time, and several automobile manufacturers are involved in their testing autonomous trucks. The autonomous trucks would benefit the logistics companies as well as the suppliers with enhanced safety and shorter lead times.
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The automotive logistics market is fragmented in nature due to the presence of several industries, and the competitive dynamics in the market is anticipated to change during the coming years.In addition to this, various initiatives are undertaken by governmental bodies to accelerate the automotive logistics market further.
For instance, in Asia-Pacific, relevant regulations and initiatives in order to improve professional standard by industry & government play an important role in logistics operations.The range of logistics services is subject to logistic industry regulations and policies.
Moreover, the expansion of such services is also driven by government policies.For instance, the Framework Act on Logistics Policies in Korea provides benefits to companies delivering integrated services of warehousing, transport, and value-added services.
The companies entering in the automotive logistics market have to comply with multiple entry requirements depending on the type of plan they offer.
The APAC automotive logistics market by type is dominated by the insourcing segment in the year 2018 and is anticipated to continue its dominance showcasing a substantial growth rate in the forecast period.The automotive logistics market by type is segmented into outsourcing and insourcing logistics services.
In the era of the rapidly changing scenario of logistics and businesses, the shippers and respective logistics providers are expected to witness substantial growth opportunities.To match up with changing requirements of end users, including automotive, now the logistics providers have progressed to collaborative partners from tactical service providers.
Moreover, the increased quality control and control over operations achieved in the insourcing method is driving the insourcing market.
The overall automotive logistics market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the automotive logistics market.
It also provides an overview and forecast for the automotive logistics market based on all the segmentation provided with respect to the Asia Pacific region.Also, primary interviews were conducted with industry participants and commentators to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the automotive logistics market. Some of the players present in automotive logistics market are CEVA Logistics AG, DB Schenker (Deutsche Bahn AG), DHL International GmbH (Deutsche Post AG), DSV A/S, GEODIS, KUEHNE + NAGEL International AG, Nippon Express Co., Ltd., Ryder System, Inc., XPO Logistics, Inc., and United Parcel Service, Inc. Group among others.
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