Global Finished Vehicles Logistics Market 2017-2021
About Finished Vehicles Logistics
Finished vehicles logistics involves activities such as yard management, port processing, claims management, and inspection that are performed when a vehicle leaves the factory to the point it reaches the dealer. The finished vehicles logistics market is segmented based on transportation mode, which includes road, rail, sea, and air. The geographical segmentation of the market includes APAC, the Americas, and EMEA.
Technavio’s analysts forecast the global finished vehicles logistics market to grow at a CAGR of 5.22% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global finished vehicles logistics market for 2017-2021. To calculate the market size, the report considers the revenue generated by different vendors through various transportation modes of finished vehicles logistics, which include road, rail, sea, and air.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Finished Vehicles Logistics Market 2017-2021
Technavio recognizes the following companies as the key players in the global finished vehicles logistics market: CEVA Logistics, GEFCO, APL Logistics, and Sevatas.
Other Prominent Vendors in the market are: Jack Cooper, OMSAN Logistics, Japan Post, CargoTel, INFORM, Ekol, Yusen Logistics, and MetroGistics.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing focus on logistics optimization. The global finished vehicles logistics market is focusing increasingly on the optimization of logistics costs. The European Commission, in 2015, launched the Digital Transport and Logistics Forum (DTLF) for the digitalization of transport and logistics to optimize the logistics cost. It is observed that an optimized logistics can reduce the overall logistics cost from 30% to 20%.”
According to the report, one of the major drivers for this market is Increasing investments in the automotive industry. The global finished vehicles logistics market is growing because of increasing investments in the global automotive industry. The R&D investment in this industry is increasing and is expected to grow at a rate of more than 4% during the forecast period. This will drive innovations in the automotive industry, which will further help in the growth of the global finished vehicles logistics market.
Further, the report states that one of the major factors hindering the growth of this market is Vehicle damage during transportation. The global finished vehicles logistics market is constrained due to the damages that occur during the transportation of finished vehicles. Damages primarily occur in large, fragile vehicle components like windscreen glasses and body panels. Also, damages occur due to long distance transportations. In Europe, the damage claims account for more than 30% of the overall vehicle claims. In Europe, more than $160 million is spent every year to deal with the damages of finished vehicles, impacting the overall logistics cost and causing a delay in the final delivery.
CEVA Logistics, GEFCO, APL Logistics, Sevatas, Jack Cooper, OMSAN Logistics, Japan Post, CargoTel, INFORM, Ekol, Yusen Logistics, and MetroGistics.