The global spare parts logistics market is expected to grow by USD 23.64 billion as per Technavio’s market research report. The analysis of the impact of COVID-19 on the market reveals a market slowdown in the first half of 2020. However, the effect will gradually lessen in the coming quarters. In addition, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 5%. Request Free Sample Report on COVID-19 Impacts
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Technavio has announced its latest market research report titled Global Spare Parts Logistics Market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "Spare Parts Logistics Market Analysis Report by End-user (Automotive, Electronics, Industrial, Aerospace, and Others), Geographic Landscape (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024". https://www.technavio.com/report/report/spare-parts-logistics-market-industry-analysis
The market is driven by the increased trade of electronic components between India and China. In addition, the rising focus on enhancing the operating efficiency with Industry 4.0 is anticipated to boost the growth of the spare parts logistics market.
China and India have a large middle-income population, which is creating a huge demand for consumable products in APAC. Also, the high population density has been a major enabler of trade between China and India. This has increased the shipment of product categories such as electronic items, electrical machinery, and electronic components between China and India over the years. The increasing trade activities between these two countries has led to a growth in the demand for spare parts logistics in APAC, thereby driving the market growth.
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Major Five Spare Parts Logistics Companies:
CEVA Logistics AG
CEVA Logistics AG operates its business through segments such as Freight Management and Contract Logistics. The company offers spare parts logistics services for the automotive, energy, healthcare, industrial, and aerospace sectors.
Deutsche Bahn AG
Deutsche Bahn AG operates its business through segments such as DB Schenker, DB Regional, DB Arriva, DB Cargo, and Others. The company offers spare parts logistics solutions through its DB Schenker Logistics Business Unit.
Deutsche Post DHL Group
Deutsche Post DHL Group operates its business through segments such as Post & Parcel Germany, Express, Global Forwarding, Freight, Supply chain, and eCommerce Parcel. The company offers transport, warehousing, and management solutions for spare parts used in automotive, healthcare, engineering and manufacturing, and energy sectors.
DSV AS operates its business through segments such as Air & Sea, Road, and Solutions. The company offers service and spare parts logistics solutions for the automotive industry.
FedEx Corp. operates its business through segments such as FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services. The company offers shipping, transportation, and warehousing solutions for automotive and electronic spare parts.
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Spare Parts Logistics Market End-user Outlook (Revenue, USD Billion, 2019-2024)
Spare Parts Logistics Market Geographic Outlook (Revenue, USD Billion, 2019-2024)
Key leading countries
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