PUBLISHER: The Business Research Company | PRODUCT CODE: 1619585
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619585
Finished vehicles logistics involves managing and transporting fully assembled vehicles from manufacturing plants to distribution points, dealerships, or directly to customers. This process includes coordinating shipping methods, managing customs procedures, and ensuring timely and secure delivery. It plays a crucial role in optimizing supply chains and enhancing vehicle distribution efficiency.
The key services in the finished vehicles logistics sector include transportation, warehousing, distribution, and value-added services, among others. Transportation services focus on moving finished vehicles from manufacturers to dealers or end-users. The sector covers various vehicle types, such as passenger and commercial vehicles, and employs multiple distribution channels, including both economy and luxury segments. End-users of these services include original equipment manufacturers (OEMs), dealerships, and others.
The finished vehicles logistics market research report is one of a series of new reports from The Business Research Company that provides finished vehicles logistics market statistics, including the finished vehicles logistics industry global market size, regional shares, competitors with finished vehicles logistics market share, detailed finished vehicles logistics market segments, market trends, and opportunities, and any further data you may need to thrive in the finished vehicles logistics industry. These finished vehicles logistics market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The finished vehicles logistics market size has grown strongly in recent years. It will grow from $153.33 billion in 2023 to $162.32 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth observed during the historic period can be attributed to factors such as urbanization, a rise in the number of dealerships, supportive government policies, the expansion of car-sharing and ride-hailing services, and an increase in traditional logistics chains.
The finished vehicles logistics market size is expected to see strong growth in the next few years. It will grow to $204.68 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The projected growth during the forecast period can be attributed to a focus on lowering logistics costs, rising consumer expectations, improved inventory management practices, and effective insurance and risk management solutions. Key trends expected during this period include advancements in fleet management technologies, the adoption of digital technologies, the development of autonomous trucks, progress in last-mile delivery solutions, and increased use of data analytics.
The growth in automobile production is expected to boost the finished vehicle logistics market. Increasing global demand for vehicles, advancements in automotive technology, and expanding economies, particularly in emerging markets, are driving higher automobile production. This surge generates a steady and growing supply of vehicles that require transportation, storage, and delivery to dealerships and customers, thus elevating the need for logistics services and infrastructure. For example, in January 2024, the Society of Motor Manufacturers and Traders reported that UK vehicle production reached 1,025,474 units in 2023, comprising 905,117 cars and 120,357 commercial vehicles (CVs), marking a 17.0% increase from the previous year. As a result, the increase in automobile production is propelling the finished vehicle logistics market.
Key players in the finished vehicle logistics market are forming strategic partnerships to develop advanced logistics solutions. These alliances enable companies to pool resources and expertise, enhance research and development, expand market presence, and accelerate commercialization, fostering innovation and growth in the industry. For instance, in July 2024, CEVA Logistics, a France-based logistics firm, partnered with Almajdouie Logistics, a Saudi Arabian logistics provider. This joint venture aims to deliver comprehensive end-to-end logistics services essential for the automotive sector. By combining CEVA's global network with Almajdouie's local expertise, the partnership offers customized solutions to streamline the movement of finished vehicles from manufacturers to dealerships and customers throughout Saudi Arabia and beyond.
In February 2024, CMA CGM Group, a France-based shipping company, acquired Bollore Logistics for $5.24 billion. This acquisition is designed to enhance CMA CGM's logistics capabilities by incorporating Bollore Logistics' expertise, thus expanding the range of services offered and entering new business areas. This broader reach allows for more efficient and seamless transportation of finished vehicles across diverse markets. Bollore Logistics, based in France, specializes in a variety of logistics services, including finished vehicle logistics, ocean and air freight, supply chain management, and warehousing solutions.
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, Kuhne + 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 Andre
North America was the largest region in the finished vehicles logistics market in 2023. 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.
The countries covered in the finished vehicles logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The finished vehicles logistics market includes revenues earned by entities by providing services such as delivery of vehicles, vehicle handling and inspection, storage, customs and documentation management, fleet management, and integrated logistics solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Finished Vehicles Logistics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on finished vehicles logistics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for finished vehicles logistics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The finished vehicles logistics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.