As per the report, the global automotive logistics market size was estimated at $241.7 billion in 2021, and is set to reach $433.6 billion by 2031 growing at a CAGR of 6.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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COVID-19 Impact Analysis
The pandemic affected almost every dimension of economic activity and individuals globally. As a consequence of the coronavirus outbreak, important supply chains in the logistics and transportation industry were hampered.
For instance, according to a report by the International Finance Corporation (IFC), total container volumes handled at Chinese ports dropped by 10.1% in the initial of 2020. In addition, air freight volumes fell by 19% in March 2020.
In addition, as the business to business (B2B) logistics industry suffered and came to a halt, business to customer (B2C) emerged during the pandemic, owing to the growth of the online retail and e-commerce industry. Attributed to the lockdown and social distancing impact, the demand for online retailing has increased as compared to offline retailing. For instance, in 2019, online shopping rose by 20% and then by 30% during the lockdown. Rise in online sales compelled companies to restructure their warehouse to manage e-commerce logistics.
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KEY FINDINGS OF THE STUDY
- By service, the warehousing segment is anticipated to exhibit significant growth in the near future.
- By type, the finished vehicles segment is anticipated to exhibit significant growth in the near future.
- By mode of transportation, the sea segment is anticipated to exhibit significant growth in the near future.
- By distribution area, the international segment is anticipated to exhibit significant growth in the near future.
- By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
The domestic segment to hold the major market share over 2022-2031
On basis of the distribution area, the domestic segment contributed to the largest market share in 2021, accounting for nearly two-thirds of the global automotive logistics market share. Furthermore, the same segment is anticipated to dominate the growth of the global market over the forecast period. The growth of the segment over the assessment period is subject to a rise in domestic services including goods delivery and sending of documents from one place to destination in a country such as cargo transport, document courier, and parcel delivery. However, the international segment is predicted to record the highest CAGR of 7.3% over the forecast period. The growth of the segment over the forecast timeline can be credited to the large-scale distribution of goods and logistics from one country to another country through flight and sea routes.
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Key players operating in the global automotive logistics market include A.P. Moller-Maersk, CEVA Logistics AG, C.H. Robinson Worldwide, Inc., DB Schenker, Deutsche Post AG, DSV A/S, FedEx Corporation, Hellmann Worldwide Logistics, Kuehne+Nagel International AG, Nippon Express Co., Ltd, Schenker Deutschland AG, and United Parcel Service of America, Inc.
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