Spare Parts Logistics Market by End-user and Geography - Forecast and Analysis 2020-2024
- Published: Aug 2020
- Pages: 120
- SKU: IRTNTR40971
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The spare parts logistics market size has the potential to grow by USD 23.64 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This spare parts logistics market research report provides a detailed analysis of the market by end-user (automotive, electronics, industrial, aerospace, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including CEVA Logistics AG, Deutsche Bahn AG, Deutsche Post DHL Group, DSV AS, FedEx Corp., Kuehne + Nagel International AG, Nippon Express Co. Ltd., Toyota Tsusho Corp., United Parcel Service Inc., and XPO Logistics Inc.
Statistical Analysis of Spare Parts Logistics Market
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Who are the Major Spare Parts Logistics Vendors?
The market is fragmented. The key vendors in the market are focusing on M&As to increase the spare parts logistics market demand and expand their regional base.This will help companies create strategies to make the most of future growth opportunities. Kuehne + Nagel International AG, Nippon Express Co. Ltd., Toyota Tsusho Corp., United Parcel Service Inc., and XPO Logistics Inc. are some of the major market participants.
According to the spare parts logistics market the increase in electronic components trade between India and China will offer immense growth opportunities, Adoption of 3D printing in manufacturing industry will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this spare parts logistics market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this report also provides information on the upcoming spare parts logistics market trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This spare parts logistics market analysis report provides information on the production, sustainability, and prospects of several leading companies, including:
- CEVA Logistics AG
- Deutsche Bahn AG
- Deutsche Post DHL Group
- DSV AS
- FedEx Corp.
- Kuehne + Nagel International AG
- Nippon Express Co. Ltd.
- Toyota Tsusho Corp.
- United Parcel Service Inc.
- XPO Logistics Inc.
Which are the Key Markets for Spare Parts Logistics?
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APAC had the largest spare parts logistics market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increase in hardware spending and government initiatives to develop logistics infrastructure will significantly influence spare parts logistics market growth in this region.
44% of the market’s growth will originate from APAC during the forecast period. China is one of the key markets for spare parts logistics in APAC. Market growth in this region will be faster than the growth of the market in other regions.
What are the Major End-user Segments in the Spare Parts Logistics Market?
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The increasing production and sales of passenger vehicles will be one of the significant factors driving spare parts logistics market growth in this segment.
Market growth in the automotive segment will be slower than the growth of the market in the electronics and aerospace segment. This report provides an accurate prediction of the contribution of all the spare parts logistics market segmentation.
How will Industry 4.0 Influence Spare Parts Logistics Market Growth?
The manufacturing sector is evolving its operations to Industry 4.0 which involves the combination of physical and digital use of advanced technologies. 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. Moreover, network flexibility and high connectivity offered by Industry 4.0 will allow industrial manufacturers to easily shift their operations among different facilities and enhance the efficiency of spare parts logistics supply chain. The adoption of Industry 4.0 to enhance the overall operating efficiency will be one of the critical spare parts logistics market trends that augmenting the growth prospects of the spare parts logistics market.
The use of quality parts is encouraging customers to use their vehicles for the full life cycle. 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. This increasing average vehicle age of passenger, as well as commercial vehicles, will boost the demand for vehicle maintenance. As a result, the demand for spare parts logistics will also increase. The increasing average vehicle age will be one of the significant factors driving the growth of,spare parts logistics market size at a CAGR of over 5% during the forecast period.
What are the Key Factors Covered in this Spare Parts Logistics Market Report?
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive spare parts logistics market growth during the next five years
- Precise estimation of the spare parts logistics market size and its contribution to the parent market
- Spare parts logistics market facts & figures and accurate predictions on upcoming trends and changes in consumer behaviour
- Estimation of potential spare parts logistics market by end-user and geography
- Identification of key countries across North America, APAC, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of spare parts logistics market vendors
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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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Increase in electronic components trade between India and China
- Enhancing the operating efficiency with Industry 4.0
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