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The Europe - spare parts logistics market size is estimated to grow at a CAGR of 4.99% between 2023 and 2028. The market size is forecast to increase by USD 5,744.01 million. The growth of the market depends on several factors such as the increasing average age of vehicles, the rising electrification of vehicles, and the growing free trade agreements in Europe.
This Europe spare parts logistics market report extensively covers market segmentation by type (forward and reverse), and end-user (automotive, industrial, aerospace, and electronics). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the Europe spare parts logistics market growth is the growing free trade agreements in Europe. The increasing free trade agreements with many developing countries are raising the volume of imports and exports in Europe. In addition, the increase in free trade agreements provides many opportunities for European manufacturers to enter other developed and developing countries.
Moreover, these free trade agreements are expected to fuel volume shipments from various manufacturing industries, including electronics and automotive. Hence, with rising industrial production, the need for spare parts increases. Therefore, such factors are positively impacting the market which in turn drives the Europe spare parts logistics market growth during the forecast period.
A key factor shaping the Europe spare parts logistics market growth is the over-the-air updates for ECUs. There has been an increase in electronic components in cars over the years. The main reason is due to the increased installation of driver assistance and safety features in automobiles. In addition, the complexity of automotive components and systems has further increased with the advent of in-vehicle infotainment (IVI) and connected car technologies in automobiles.
Moreover, there is an increase in the number of ECUs and program execution is rising in automobiles due to the increased demand for infotainment systems and connected vehicles. In addition, automotive OEMs have focused their efforts on developing remote OTA update firmware and software update platforms. Hence, such factors are positively impacting the market. Therefore, such factors are driving the Europe spare parts logistics market growth during the forecast period.
Shortage of skilled drivers resulting in high lead times is one of the key challenges hindering the Europe spare parts logistics market growth. The lack of skilled drivers in the spare parts logistics market can have a significant effect as it can lead to the disruption of the supply chain where the lead time is of critical importance; consequently, such a shortage of skilled drivers would increase the lead times in spare parts deliveries. The lack of interest is one of the key reasons which contributes to the lack of skilled drivers.
Moreover, the lack of interest among individuals is mainly due to low wages and long working hours. Furthermore, while the demand for drivers is increasing, many drivers are trying to shift to new jobs that offer marginally higher benefits or better working conditions. Additionally, drivers tend to change jobs frequently and over the smallest of issues with their employers. Hence, such factors are negatively impacting the Europe - spare parts logistics market. Therefore, it is expected to hinder the Europe spare parts logistics market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Europe Spare Parts Logistics Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Bertelsmann SE and Co. KGaA: The company offers spare parts logistics such as Arvato supply chain solutions.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The forward segment is estimated to witness significant growth during the forecast period. The forward logistic segment comprises handling activities including transportation, warehousing, and value-added activities (such as packaging, labeling, and barcoding). The increasing hardware spending and growing government support for the logistics industry are significantly contributing to the growth of this segment.
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The forward segment was the largest segment and was valued at USD 15,522.24 million in 2018. Moreover, the adoption of the PPP model in warehouse management and container logistics has propelled the demand for forward logistics services in Europe. Such developments are fuelling the growth of this segment which in turn will drive the Europe spare parts logistics market growth during the forecast period.
The Europe spare parts logistics market report forecasts market growth and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Europe Spare Parts Logistics Market Scope |
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Report Coverage |
Details |
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Page number |
167 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.99% |
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Market Growth 2024-2028 |
USD 5,744.01 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.51 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Bertelsmann SE and Co. KGaA, Beumer Group GmbH and Co. KG, BLG LOGISTICS GROUP AG AND Co. KG, CMA CGM SA Group, Deutsche Bahn AG, Deutsche Post AG, DILO Co. Inc., DSV AS, Expeditors International of Washington Inc., FedEx Corp., FIEGE Logistik Stiftung and Co. KG, Fujitsu Ltd., Honda Motor Co. Ltd., Kerry Logistics Network Ltd., Kuehne Nagel Management AG, Lufthansa Cargo, SNCF Group, TVS Motor Co. Ltd., United Parcel Service Inc., and XPO Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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