What Has Been The Evolution of the Finished Vehicles Logistics Market in Recent Years?
The finished vehicles logistics market has seen considerable growth due to a variety of factors.
• In recent years, the market size for finished vehicle logistics has seen robust growth. The market is projected to expand from $162.32 billion in 2024 to $172.3 billion in 2025, marking a compound annual growth rate (CAGR) of 6.2%.
Factors contributing to this growth in the past include urbanisation, a rise in the number of car dealerships, governmental policies, an increase in car-sharing and ride-hailing services, as well as growth in old chain logistics.
What Is the Forecasted Market Size and Growth Rate for The Finished Vehicles Logistics Market Size In The Coming Years?
The finished vehicles logistics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of finished vehicles logistics is predicted to experience substantial growth in the coming years. It's anticipated to rise to $216.48 billion by 2029, expanding at a compound annual growth rate (CAGR) of 5.9%.
The projected growth during this period can be ascribed to factors such as a strong emphasis on cutting logistics costs, heightened consumer expectations, efficient inventory management systems, and effective insurance and risk management solutions. Key trends within this period will likely encompass advancements in fleet management technologies, the embracing of digital technologies, the rise of autonomous trucks, progress in final-mile delivery solutions, and the application of data analytics.
What Factors Are Driving Growth In The Finished Vehicles Logistics Market?
The finished vehicle logistics market is likely to experience growth, propelled by an increase in the production of automobiles. Higher production levels of automobiles are influenced by factors such as the escalating demand for vehicles worldwide, advancements within the automotive sector, and the expansion of economies, especially those in developing markets. This surge in vehicle production bolsters the finished vehicle logistics market by continually providing a growing number of vehicles that require transportation, storage, and delivery to dealerships and consumers. This in turn boosts the need for logistics services and infrastructure. Serving as an example, the Society of Motor Manufacturers and Traders, based in the UK, reported in January 2024 that UK vehicle production had climbed to 1,025,474 units in 2023, comprising of 905,117 cars and 120,357 commercial vehicles (CVs). This was an uptick of 17.0% compared to the previous year. Thus, the escalating production levels of automobiles are a driving factor behind the growth of the finished vehicle logistics market.
What Are The Main Segments Of The Global Finished Vehicles Logistics Market?
The finished vehicles logisticsmarket covered in this report is segmented –
1) By Service: Transportation, Warehousing, Distribution, Value-Added Services, Other Services
2) By Vehicle Type: Passenger Vehicle, Commercial Vehicle
3) By Distribution Channel: Economy, Luxury
4) By End-Use: Original Equipment Manufacturers (OEMs), Dealerships, Other End-Uses
Subsegments:
1) By Transportation: Road Transport, Rail Transport, Sea Freight, Air Freight, Inland Waterways Transport, Specialized Vehicle Transport
2) By Warehousing: Vehicle Storage And Staging, Pre-Delivery Inspections And Modifications, Parts And Accessories Storage, Vehicle Maintenance And Servicing, Inventory Management, Climate-Controlled Warehousing For Sensitive Vehicles
3) By Distribution: Dealer Network Distribution, Direct-To-Customer Delivery, Regional And International Distribution, Transit Handling And Distribution Management, Delivery Scheduling And Route Optimization
4) By Value-Added Services: Vehicle Customization And Upfitting, Vehicle Inspection And Quality Checks, Packaging And Labelling, Documentation And Compliance Services, Tracking And Monitoring Services, Reverse Logistics
5) By Other Services: Fleet Management Services, Insurance And Risk Management, Customs And Import Or Export Services, Supply Chain Management And Optimization, After-Sales Support And Spare Parts Delivery
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How Are Emerging Trends Reshaping The Dynamics Of The Finished Vehicles Logistics Market?
Leading corporations in the finished vehicles logistics market are utilizing the strategic partnerships method to create progressive logistics solutions. Such joint ventures enable firms dealing in finished vehicle logistics to pool together their resources and proficiency, augment their research & development prowess, broaden their market footprint, and hasten product proliferation, thereby propelling progression and expansion in the finished vehicles logistics sector. For example, CEVA Logistics, a logistics firm based out of France, entered into a partnership agreement with Almajdouie Logistics, a logistics service company from Saudi Arabia, in July 2024. The objective of this collaboration is to offer exhaustive end-to-end logistics services, which are indispensable to the automotive sector. With CEVA's worldwide network being complemented by Almajdouie's regional knowledge, the alliance is capable of delivering bespoke solutions that make the transportation of finished vehicles from manufacturing entities to dealerships and consumers throughout Saudi Arabia and beyond more efficient.
Who Are the Key Players In The Finished Vehicles Logistics Market?
Major companies operating in the finished vehicles logistics market are:
• United Parcel Service Inc.
• CEVA Logistics
• DHL Supply Chain
• Mediterranean Shipping Company S.A.
• A.P. Moller - Maersk A/S
• DSV A/S
• Kühne + Nagel International AG
• Schenker AG
• Hyundai Glovis Co. Ltd.
• Nippon Express Co. Ltd.
• Nippon Yusen Kabushiki Kaisha
• Geodis SA
• Mitsui O.S.K. Lines
• Expeditors International of Washington Inc.
• XPO Inc.
• Sankyu Inc.
• GEFCO S.A.
• Crowley Maritime Corporation
• Yusen Logistics Co. Ltd.
• BLG Logistics Group AG & Co. KG
• Acertus
• ARS Altmann AG
• Omsan Lojistik A/S
• Groupe Charles André
What Is The Most Dominant Region In The Finished Vehicles Logistics Market?
North America was the largest region in the finished vehicles logistics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the finished vehicles logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
