North America Automotive Logistics Market To Be Valued at US$ 113.69 Bn by 2030

Automotive logistics is widely acknowledged as the largest and most sophisticated and professional logistics industry. Production logistics, manufacturing and distribution logistics, car sales logistics, supply logistics, and recycling logistics are all different types of logistics.

Statistics:

The North America automotive logistics market is estimated to account for US$ 70.62 Mn in terms of value by the end of 2022.

Drivers:

Increasing outsourcing of automotive components, emergence of logistics services, and technological advancement are some of the major factors expected to drive the growth of North America Automotive Logistics Market.

Opportunity:

Use of advanced WMS, integrated supply chain, TMS, disposable & returnable packaging solutions are the essential logistics services which maintain the balance between demand and supply of automotive. This is expected to offer lucrative opportunities in the growth of North America Automotive Logistics Market.  

Recent Development:

In October 2018, GEODIS announced a plug and play yard management system to guarantee the efficient flow of the trailers and the trucks in the warehouse yards. The YMS addresses the yard associated issues such as the locating trailers and the planning for the load volumes. The YMS offers greater visibility that gives an accessibility over the tracking of the inventory.

Restraint:

Freight rates have progressed rapidly during the last few years. The shortage of truck drivers is a main factor for the higher cost. The decreased driver supply and rising transport demand from the automakers is expected to hamper the growth of North America Automotive Logistics Market.  

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/north-america-automotive-logistics-market-5145

North America Automotive Logistics Market - Impact of Coronavirus (Covid-19) Pandemic

The Covid-19 outbreak had led to the negative impact on the growth of the North America automotive logistics market as there was a disruption in the supply chain of the automotive parts and the delay in transportation of goods from one place to other and the shutdown of the manufacturing companies due to the rising cases, such factors obstructed the growth of the market.

Key Takeaways:

The global North America automotive logistics market was valued at US$ 66.37 Bn in 2021 and is forecast to reach a value of US$ 113.69 Bn by 2030 at a CARG of 6.1% between 2022 and 2030.

Component held the dominant position in the global North America automotive logistics market in 2022, accounting for 44% share in terms of value, increasing approval and launch of new products is expected to propel the growth of the segment during the forecast period.

Key Trends/Takeaways:

Trend 1:

North American light-duty vehicle production is driven by the United States, which accounts for 67.5% of the total North American light-duty vehicle production in terms of volume. Stringent emission regulations leading to light-weighting/engine downsizing has also fueled the growth of light-duty vehicles in the region. This is expected to act as a major trend in the growth of North America Logistics market.

Trend 2:

The North American passenger car market is favorable for gasoline vehicles, but it has started moving towards diesel and hybrid vehicles which is expected to act as a key trend in the growth of North America Automotive Logistics Market. For instance, The U.S. government is taking steps to promote electric vehicles (EVs), and plans to introduce 48 electric charging corridors which will cover 25,000 miles of highways.

Competitive Landscape:

Major companies involved in the North America automotive logistics market are Ceva Logistics Ag, Kuehne + Nagel International Ag, Dhl International Gmbh (Deutsche Post Ag), Ryder System, Inc., United Parcel Service, Inc., Db Schenker (Deutsche Bahn Ag), Xpo  Logistics,  Inc., Dsv  A/S, Nippon Express Co., Ltd. and Geodis.