Automotive logistics market is expected to reach 330 billion USD by 2026

The size of the automotive logistics market is expected to grow at 330.86 billion USD by 2026, at a CAGR of 7.6%, according to The Business Research Company.

The Business Research Company‘s Global Automotive Logistics Market Report 2022 shows that increasing efficiency in finished vehicle logistics services will drive the future automotive logistics growth.

Product innovations are the new trend that is popular in the market. Looking at the automotive logistics market overview, large companies are focusing on developing innovative products to maintain their position in the market. Typically, in March 2021, Tata Motor, an India-based company specializing in the production of logistics trucks, launched the Ultra Sleek T-Series based on smart truck technology. Vehicles are available in a variety of deck lengths from 10 to 20 ft, adapting to all necessary applications. This invention allows the company to transport more logistics services at a time.

The Global Automotive Logistics Market Report 2022 also makes analysis by geographical regions: North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among them, Asia-Pacific is the region with the largest proportion.

Automotive logistics activities include domestic purchasing, outsourcing and distribution of spare parts, transportation of finished vehicles domestically or internationally. The complexity of the automotive logistics supply chain requires managers to plan processes to achieve maximum efficiency in production.

Segments of the automotive logistics market are classified by type as machining and outsourcing. Automotive logistics activities are conducted from the warehouse, then rearranged and transported. This process can all be conducted by land, air, rail and sea.

Previously, TBRC’s market research report forecast that the global automotive logistics market size is expected to reach 247.12 billion USD with a compound annual growth rate (CAGR) of 10.5% in 2022. The report covers market size, market forecast, major automotive logistics companies and their market share, key strategies to be implemented…

The US is the second largest automotive logistics market among the major countries mentioned in the report, valued at 41.171 million USD by 2021. Automotive logistics accounts for 0.188% of the country’s GDP. This market is driven by large vehicle manufacturers, various domestic companies increasing their investment volume and advancements in technology.

Thanh Thu (according to EIN Newswires)