Pune, India, Nov. 03, 2021 (GLOBE NEWSWIRE) -- The global automotive logistics market size is expected to grow from USD 262.06 billion in 2021 to USD 393.71 billion in 2028. Fortune Business Insights™ mentioned this in a published report, titled, “Automotive Logistics Market, 2021-2028.” The report further states that the market stood at USD 256.85 billion in 2020. It is expected to exhibit a CAGR of 6.0% in the forecast period during 2021-2028.
CEVA Logistics Completes Full Charter Project of RORO Charter
In February 2021, CEVA Logistics, a logistics and supply chain company based in Switzerland, completed the full charter project of RORO charter for around 4,000 cars between Libya and South Korea. It was working in close cooperation with the CMA CGM Group. It was a part of the company’s cross-selling initiative. As per one of the company officials, “The completion of this project was done by smooth collaboration and it exhibits that CEVA Logistics is ready for completing more similar projects in future.” Various other key companies are also collaborating with reputed firms to initiate such projects, which, in turn, would bolster this industry in the forthcoming years.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 6.0% |
| 2028 Value Projection | USD 393.71 Billion |
| Base Year | 2020 |
| Market Size in 2021 | USD 262.06 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 200 |
| Segments covered | Distribution, Mode of Transport, Activity, Type and Geography |
| Growth Drivers | Increasing Prevalence of Orthopedic Disorders and Traumatic Injuries to Drive Growth |
| Hospitals to Register a Higher CAGR over the Forecast Duration | |
| Domestic Segment Dominated in 2020 due to Large Scale Production in Emerging Economies |
Report Coverage-
We have followed an ultra-modern research methodology that contains data triangulation on the basis of bottom-up and top-down approaches. We have also conducted primary research to authenticate the estimated size of the automotive logistics industry. The information used to validate the forecast for multiple segments at the country, regional, and global levels is gathered through interviews with various stakeholders.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/automotive-logistics-market-105662
Lower Dependence on Asia and U.S. for Semiconductors to Drive Growth amid COVID-19
Governments of various countries worldwide are putting forward concrete plans to bring back supply chains to normalcy amid the COVID-19 pandemic. The European Union (EU), for instance, launched the Digital Compass strategy in March 2021. It would help in lowering the dependence on the U.S. and Asia Pacific for the supply of semiconductors used in vehicles.
At the same time, the U.S. government initiated a new plan to improve research and domestic semiconductor production activities in June 2021. It is set to provide funds worth USD 50 billion for the same. It is also aiming to introduce a 10-year plan to accelerate domestic supply chains, especially for electric vehicle batteries. Such initiatives by government bodies would drive the demand for automotive logistics amid the pandemic.
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Asia Pacific Stood at USD 130.99 billion in 2020: Fortune Business Insights™
- In 2020, Asia Pacific procured USD 130.99 billion in terms of revenue. The high demand for automotive logistics services from OEMs would aid growth in this region. GEFCO, for instance, developed a new subsidiary in Chongqing for importing and exporting vehicles by rail networks between China, Russia, and Europe. It also chose China for every logistics activity.
- In Europe, the rising focus of OEMs on the remodeling of their supply chains to avoid complete dependence on a particular region would spur growth.
- The surging optimization of multimodal logistics chains and the rising improvements in the infrastructure to lower costs would propel growth in North America.
Drivers & Restraints-
Rising Usage of Software-based Systems to Accelerate Growth
Nowadays, automakers are adopting software-based systems to manage their logistics processes globally. These systems are providing numerous benefits, such as high operational efficiency and supply chain transparency. General Motors, for instance, is considered to be an early adopter of the Outbound Logistics Software by NetSuite. It is helping the company to ramp up deliveries and utilize trucks in a better way amid the COVID-19 pandemic. The software features geofencing technology and onboard asset telematics. It would propel the automotive logistics market growth in the upcoming years. However, the increasing freight rates because of the lack of truck drivers may hinder the demand for these logistics. In Germany, alone, for instance, on an average, around 30,000 drivers retire every year. During replacements, only 2,000 fully trained drivers are available.
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Key Players Aim to Form New Partnerships or Extend Existing Ones to Compete
The market contains major companies, such as CEVA, GEFCO, Ryder System, Inc., DSV, and others. Most of them are either forming new partnerships with local companies or are extending the existing ones. This is helping them to bring innovation in their facilities and warehouses. Below is one of the latest industry developments:
- June 2021: DHL Supply Chain signed an agreement to broaden its partnership with Locus Robotics. It would help the company to boost its Accelerated Digitalization Strategy as it is planning to implement around 2,000 robots by 2022. They will help with inventory replenishment and picking, thereby augmenting the delivery process and surging efficiency.
Fortune Business Insights™ lists out the names of prominent automotive logistics providers operating in the global market. They are as follows:
- DB Schenker (Essen, Germany)
- BLG LOGISTICS GROUP AG & Co. KG (Bremen, Germany)
- CEVA Logistics (Baar, Switzerland)
- Kuehne+Nagel (Feusisberg, Switzerland)
- Expeditors International (Washington, U.S.)
- DSV (Hedehusene, Denmark)
- XPO Logistics, Inc. (Connecticut, United States)
- Deutsche Post AG (Bonn, Germany)
- SINOTRANS Limited (Beijing, China)
- C.H. Robinson Worldwide, Inc. (Minnesota, United States)
- GEFCO (Paris, France)
- Ryder System, Inc. (Florida, U.S.)
- Schnellecke group ag & co. Kg (Wolfsburg, Germany)
- Penske Automotive Group, Inc. (Michigan, U.S.)
- Others
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