Automotive Spare Parts Logistics Market: Introduction
Automotive spare parts logistics is the management of the flow of parts or products that are required by different manufacturers from one place to another. The global automotive spare parts logistics market is estimated to expand owing to an increase in vehicle production across the globe.
Spare parts logistics service comprises storage, post-production, and modifications including technical issues and/or pre-delivery inspections, which consist of numerous tests that are carried out before delivery of automotive parts to the customer. Finished vehicles are identified by a specific number that is provided by the vehicle manufacturer, which would help to identify the parts location.
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Rise in vehicle registrations in both developing and developed countries coupled with organized warehousing activities of automotive is propelling the automotive spare parts logistics market across the globe. Rise in third-party logistics service providers, which are offering integrated warehousing solutions including order entry system and warehouse management system, is projected to boost the logistics industry. Advancements in technology, including voice picking system and RFID, are likely to further drive the automotive spare parts logistics market across the globe.
Developments in supply chain management system are boosting the adoption of automotive production planning systems. Increase in demand for responsive supply chains from regional industries and just-in-time is likely to further boost the logistics industry. Rise in demand for material handling equipment and increase in development of industrial vehicles including automated guided vehicles are likely to fuel the automotive spare parts logistics market across the globe
Asia Pacific and Europe to hold prominent share of global Automotive Spare Parts Logistics Market
Europe is projected to hold a major share of the global automotive spare parts logistics market in 2019 due to significant presence of vehicle manufacturers and tier-1 suppliers. Major vehicle manufacturers are investing in the expansion of warehousing facilities, which is estimated to boost the automotive spare parts logistics market in Europe. Europe has significant presence of logistics industries including DHL, XPO Logistics, and SNCF who have major logistics service across the Europe, which in turn is projected to propel the automotive spare parts logistics market in the region.
Followed by Europe, Asia Pacific is projected to hold a significant share of the global automotive spare parts logistics market in 2019 due to an increase in sale of vehicles across the region. Asia Pacific has major presence of automotive components manufacturer, which is likely to drive the automotive spare parts logistics market in the region.
Key players operating in global Automotive Spare Parts Logistics Market The global automotive spare parts logistics market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the automotive spare parts logistics market are: