North America Automotive Logistics Market to 2027 - Regional Analysis and Forecasts By Type ; Services ; and Sector
NEW YORK, Nov. 4, 2019 /PRNewswire/ --
The North America automotive logistics market accounted for US$ 53.11 Bn in 2018 and is expected to grow at a CAGR of 5.7% over the forecast period 2019-2027, to account for US$ 89.92 Bn in 2027. The rising number of automobile manufacturing plants across the globe is boosting the automotive logistics market growth. Moreover, the automobile manufacturers pose significant business opportunities for automotive logistics providers, which in turn is anticipated to increase the market growth in the near future. Developing economies witnessed a steady growth in the post-recession era, and thus, there was a rise in the disposable incomes of consumers. In western countries, an increase in demand for commercial vehicle is witnessed, which led the countries to experience an increase in the number of commercial vehicle manufacturing units or assembly units. According to OICA, the automobile manufacturers across the globe produced 96.7 million vehicles in 2017 and 95.7 million vehicles in 2018. The continually increasing demand for vehicles among the global population, automobile manufacturers are increasingly focusing on expanding the number of automobile manufacturing units across the globe. This factor has led the automobile manufacturers to focus on logistics of the vehicle components, wheels significantly, and tires, vehicle skeleton as well as wholly assembled vehicles from one location to another worldwide. In addition, several developing countries worldwide are experiencing an increasing number of automobile assembly units, which is influencing automotive logistics market to catalyze over the years.
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The automotive logistics market is fragmented in nature due to the presence of several industries, and the competitive dynamics in the market is anticipated to change during the coming years.Mexico's new federal government introduced a radical strategy to fight against the country's long-term problem of fuel theft.
However, this strategy has resulted in fuel shortages in central regions, which have shut gas stations, and now threatening the transport and logistics supporting the automotive sector.So far, carmakers in Mexico have not faced any threats to manufacturing through shortages in inbound supply.
However, it has been reported that fuel shortages have already affected the automotive sector in the central Bajío region, with newly assembled vehicles lacking higher quality fuel for initial filling.Also, there were threats to parts deliveries which could hamper assembly.
On the outbound side, dealers in the Michoacán region are reported to have had problems delivering vehicles to customers because of lack of gasoline.
Based on the sector segment, the component segment of the automotive logistics market is leading the market with the highest market share in North America and is anticipated to continue its dominance in the forecast period.The sector categorizes the automotive logistics market into the passenger vehicle, commercial vehicle, tire, and component.
In different sub-sectors of automotive such as passenger car, commercial vehicle, tire, and component provided needs logistics services for the transportation of goods from their origin to destination. A fluent relationship between these sectors to establish optimum logistics channel is essential.
The overall automotive logistics market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the automotive logistics market.
It also provides an overview and forecast for the automotive logistics market based on all the segmentation provided with respect to the North America region.Also, primary interviews were conducted with industry participants and commentators to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the automotive logistics market. Some of the players present in automotive logistics market are CEVA Logistics AG, DB Schenker (Deutsche Bahn AG), DHL International GmbH (Deutsche Post AG), DSV A/S, GEODIS, KUEHNE + NAGEL International AG, Nippon Express Co., Ltd., Ryder System, Inc., XPO Logistics, Inc., and United Parcel Service, Inc. Group among others.
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