NEW YORK , July 28, 2022 /PRNewswire/ -- The spare parts logistics market size is expected to grow by USD 25.36 billion from 2020 to 2025, progressing at a CAGR of 7.00% as per the latest market forecast report by Technavio. 44% of the market's growth will originate from APAC during the forecast period. China is a key market for spare parts logistics in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The significant increase in hardware spending and government initiatives to develop logistics infrastructure will facilitate the spare parts logistics market growth in APAC over the forecast period.
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Spare Parts Logistics Market: Segmentation Analysis
This market research report segments the spare parts logistics market by End-user (automotive, electronics, industrial, aerospace, and others) and Geography (APAC, Europe , North America , South America , and MEA).
Revenue Generating Segment - The spare parts logistics market share growth in the automotive segment will be significant for revenue generation. The increasing production and sales of passenger vehicles will accelerate the growth of the market in focus through this segment in the coming years.
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Spare Parts Logistics Market: Major Driver
The increasing average vehicle age will be one of the significant factors driving the growth of the spare parts logistics market size during the forecast period. The use of quality parts is encouraging customers to use their vehicles for the full life cycle. Customers are also making retrofit investments to prolong the life of their old vehicles. The increasing average vehicle cost is limiting the sale of new vehicles. This rising average vehicle age of passengers, as well as commercial vehicles, will boost the demand for vehicle maintenance. such factors will increase the demand for spare parts logistics in the coming years.
Spare Parts Logistics Market: Major Trend
The adoption of Industry 4.0 to enhance the overall operating efficiency will be one of the critical spare parts logistics market trends augmenting the growth prospects of the spare parts logistics market. The manufacturing sector is evolving its operations to Industry 4.0 which involves the combination of the physical and digital use of advanced technologies. The use of the Internet of Things (IoT), cloud computing, cognitive computing, and cyber-physical system in Industry 4.0 will enable manufacturers to increase their output, streamline operations, reduce business risk, and ensure business growth. The network flexibility and high connectivity offered by Industry 4.0 will allow industrial manufacturers to easily shift their operations among different facilities and enhance the efficiency of the spare parts logistics supply chain.
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Get ready to achieve excellent business outcomes from this exclusive Spare Parts Logistics Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as -
What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?
What is the current trend taking place in the market space?
Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?
What are market drivers, restraints, and challenges impacting demand & growth of the market?
Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?
The competitive scenario provided in the Spare Parts Logistics Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don't wait, Make a strategic approach & boost your business goals with our Spare Parts Logistics Market Forecast Report - Buy Now!
The secure logistics market size is predicted to surge by USD 25.22 billion from 2021 to 2026 at a CAGR of 6.56%.
The predicted growth of the rail logistics market share from 2021 to 2026 is USD 50.21 billion at a progressing CAGR of 4.02%.
Spare Parts Logistics Market Scope
Accelerate at a CAGR of 7.00%
APAC, Europe, North America, South America, and MEA
China, US, Germany, UK, and Canada
Leading companies, competitive strategies, consumer engagement scope
CEVA Logistics AG, Deutsche Bahn AG, Deutsche Post DHL Group, DSV Panalpina AS, FedEx Corp., Kuehne Nagel International AG, Nippon Express Co. Ltd., Toyota Tsusho Corp., United Parcel Service Inc., and XPO Logistics Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.
Market outlook: Forecast for 2020 - 2025
The threat of new entrants
Automotive - Market size and forecast 2020-2025
Electronics - Market size and forecast 2020-2025
Industrial - Market size and forecast 2020-2025
Aerospace - Market size and forecast 2020-2025
Others - Market size and forecast 2020-2025
APAC - Market size and forecast 2020-2025
Europe - Market size and forecast 2020-2025
North America - Market size and forecast 2020-2025
South America - Market size and forecast 2020-2025
MEA - Market size and forecast 2020-2025
Currency conversion rates for US$
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
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