Automotive logistics market trends are anticipated to witness substantial proliferation over the forecast period owing to the wide range of vehicle models to serve various customer demands. Global Market Insights, Inc. has predicted that automotive logistics market size will surpass an annual valuation of $170 billion by the year 2025.
Growing number of manufacturing facilities is delivering potential opportunities to logistics service providers for improving their market share. The surging requirement for efficient supply of finished components and raw materials by OEM’s will substantially impel the demand witnessed in automotive logistics market. Furthermore, rising adoption of IoT in automotive logistics industry is likely to offer great capabilities to optimize the supply chain operations.
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How will the increasing production of vehicles help to augment automotive logistics market size?
Rising freight volumes owing to the intensifying vehicle production and registrations around the globe has been providing strength to the automotive logistics market. For instance, in 2017, light commercial vehicle production reached 10.89 million units with an increase of 4.5% as compared to 2016. Increasing demand for electric vehicles is supportively impelling the industry growth.
How will international distribution channel impact the revenue share of automotive logistics market?
Automotive logistics market is classified into international logistics and domestic logistics on the basis of distribution channels. International logistics is anticipated to behold extensive growth due to increasing import and export activities of automotive components.
What will be the factors affecting automotive logistics market outlook in Asia Pacific region?
Asia Pacific is predicted to observe a significant growth in the automotive logistics market, accredited to the strong presence of vehicle manufacturers and production facilities. Rising adoption of electric vehicles will offer a positive outlook for increasing the industry size. For instance, in 2018, China’s electric car sales was reported to reach 1.3 million units with an increase of more than 62% as compared with 2017.
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