According to a new report published by Allied Market Research, titled, “Automotive Logistics Market,” 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.
Growth of the global automotive logistics market is propelling, owing to growth in international trade, expansion of the e-commerce industry globally, and rise in the free trade agreements between nations. However, stringent emission regulations restrain the growth of the market. Furthermore, technological advancements are factors expected to offer growth opportunities during the forecast period.
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The domestic segment to continue its supremacy
Based on distribution area, the domestic segment held the largest market share of nearly two-thirds of the global market share in 2021 and is expected to dominate the market share by 2031. The growth is attributed to an increase in domestic services involving sending of documents from one place to another and goods delivery in a country like parcel delivery, document courier, and cargo transport. The international segment, on the other hand, is estimated to showcase the fastest growth with 7.3% CAGR throughout the forecast timeframe. The growth is driven by factors such as large-scale distribution of goods and logistics from one country to another via flight and sea route.
The transportation segment to retain its dominance during the forecast period
On the basis of service, the transportation segment accounted for the highest market share in 2021, contributing to m=nearly four-fifths of the global automotive logistics market and is expected to rule the roost throughout the forecast timeframe. The growth is attributed to the surge in usage of transportation management software for enhancing routes, transforming paper-derived documentation into digital/analog, and handling carriers. Moreover, transportation management software assists in enhancing customer service, tracking deliveries in real-time, and decreasing freight costs. The warehousing segment, on the other hand, would showcase a notable CAGR of 7.4% during the forecast period of 2022 to 2031. The rising robot’s penetration in warehouse management processes like inspection, transporting, packing, sorting, and picking.
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Asia-Pacific to dominate the market by 2031
The regional analysis in the report indicates that the Asia-Pacific region held the major market share of more than two-fifths in 2021 and is expected to lead the trail from 2022 to 2031. Also, the same region would portray the fastest CAGR of 7.1% by 2031. The growth is attributed to the expanding e-commerce sector in developing countries across the region. Additionally, beneficial government policies regarding the development of strong automotive logistics infrastructure in the region will accelerate the regional market trends.
Leading Market Players:
- United Parcel Service of America, Inc.
- Schenker Deutschland AG
- Nippon Express Co., Ltd
- Kuehne + Nagel International AG
- Hellmann Worldwide Logistics SE & Co.KG
- FedEx Corporation
- DSV A/S
- Deutsche Post AG
- DB Schenker
- C.H. Robinson Worldwide, Inc.
- CEVA Logistics AG
- A.P. Moller-Maersk
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The report offers a thorough analysis of prominent players in the global automotive logistics market. These frontrunners have employed various strategies, including making acquisitions, launching new products, obtaining product approvals, forming partnerships, and expanding their operations, all with the goal of augmenting their market share and upholding dominant positions across diverse regions. The report is instrumental in spotlighting the business performance, operating segments, product portfolios, and strategic maneuvers of these market players, providing a comprehensive overview of the competitive landscape.
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