Kenneth Research, in its repository of market research reports, have recently added a report on Spare Parts Logistics Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Spare Parts Logistics Market products.
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According to the statistics by the International Environmental Agency (IEA), the global stock of electric passenger cars passed 5 million in the year 2018, which was an increase by 63% from the year 2017.
Global Spare Parts Logistics Market to reach USD 51728.84 million by 2025. Global Spare Parts Logistics Market valued approximately USD 42900 million in 2017 is forecasted to grow with a healthy growth rate of more than 5.93% over the forecast period 2018-2025. The major factors speculated to augment the markets are escalating needs for spare parts owing to aging operational on-road vehicles, and growing focus of OEMs on the after Market for high-profit margins. Spare parts logistics services involve facilities like integrated contract logistics solutions. These solutions include all the perspectives of spare parts fulfillment, from catalog management of spare parts & customer services to planning supply chains, expanding warehousing and distribution solutions.
The regional analysis of Global Spare Parts Logistics Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading region across the world in terms of Market share. Moreover, owing to the countries such as China, Japan, and India, Asia Pacific region is also expected to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define Market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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Major market players in Spare Parts Logistics Market players include Deutsche Post DHL Group, CEVA Logistics, UPS, DB Schenker, Kuehne + Nagel, Panalpina, KSB SE & Co., DPD Group, Geodis, GEFCO S.A., and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
The detailed segments and sub-segment of the Market are explained below:
By End-User:
*Industrial Sector
*Automotive
*Electronics
*Aerospace
By Region
North America
*USA
*Canada
Europe
*Germany
*U.K.
*France
*Italy
*Rest of Europe
APAC
*China
*India
*Japan
*Rest of Asia-Pacific
RoW
*Latin America
*Middle East & Africa
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