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Finished Vehicles Logistics Market Trends

  • Report ID: GMI10148
  • Published Date: Jul 2024
  • Report Format: PDF

Finished Vehicles Logistics Market Trends

Globalization has led to an increase in production and sales of automobiles. Automotive manufacturers have purposefully set up production plants throughout several nations to take advantage such as reduced production costs, enter new markets, and improve their closeness to their clientele. As a result of globalization, there are now more cars being manufactured and traded globally. As a result, to handle the intricate cross-border transportation and distribution of these vehicles, there is a growing need for effective finished vehicle logistics services. This pattern emphasizes the importance of strong logistics networks that enable smooth international supply chains to satisfy the constantly changing demands of automakers and consumers globally.
 

For instance, in November 2022, Omsan Logistics built an export-import line between Turkey and Slovakia in collaboration with the well-known European logistics firm, METRAS. The first freight train departs from Yunaska Streda Terminal in Slovakia for Istanbul as part of the collaboration. The containers are delivered by train from the METRANS Terminal in Dunajska Streda, Slovakia, as part of the project's goal of increasing Turkey's railway exports.
 

Shipment, handling, customs clearance, and inland distribution are among the specialized logistics services needed for the transfer of automobiles from manufacturing facilities to international locations. Thus, in order to manage intricate supply chains and guarantee that cars are delivered effectively and on schedule, logistics companies have become an essential component of the market.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Industry size for finished vehicles logistics was worth USD 184.6 billion in 2023 and is projected to expand at over 4.5% CAGR from 2024 to 2032, due to the growing demand for vehicles among consumers and industrial sectors.

The passenger vehicles segment in the finished vehicles logistics industry recorded 55% share in 2023 and is anticipated to grow at notable rate between 2024 and 2032, owing to its enormous volume and widespread demand from customers throughout the world.

The road transportation segment in the finished vehicles logistics industry accounted for 41% revenue share in 2023 and is projected to grow at substantial rate from 2024 to 2032, due to its adaptability and accessibility.

North America industry recorded over 35% share in 2023 and is estimated to grow at notable rate between 2024 and 2032, as the automotive manufacturers have production sites spread throughout the U.S., and Canada

Finished Vehicles Logistics Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 340
  • Countries covered: 21
  • Pages: 220
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