Spare Parts Logistics Market size is set to grow by USD 24.2 billion from 2024-2028, Increase in electronic components trade between India and China boost the market, Technavio

Spare Parts Logistics Market size is set to grow by USD 24.2 billion from 2024-2028, Increase in electronic components trade between India and China boost the market, Technavio

Jul 10, 2024 by PR Newswire

Key Facts

  • Technavio has announced its latest market research report titled Global spare parts logistics market 2024-2028 Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report Spare Parts Logistics Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 5.6% Market growth 2024-2028 USD 24.2 billion Market structure Fragmented YoY growth 2022-2023 (%) 5.17 Regional analysis APAC, Europe, North America, South America, and Middle East and Africa Performing market contribution APAC at 48% Key countries China, US, Germany, Japan, and India Key companies profiled CEVA Logistics, DACHSER SE, Deutsche Bahn AG, Deutsche Post AG, DSV AS, Expeditors International of Washington Inc., FedEx Corp., GEODIS, Kerry Logistics Network Ltd., Kuehne Nagel Management AG, LOGISTEED Ltd., Lufthansa Cargo, Nippon Express Holdings Inc., Ryder System Inc., SEKO Logistics, Scan Global Logistics, Toyota Motor Corp., TVS Supply Chain Solutions Ltd., United Parcel Service Inc., and XPO Inc. Market Driver Industry 4.0, the fusion of physical and digital technologies, is revolutionizing manufacturing sectors worldwide.
  • The challenges in this market include transportation and delivery of spare parts, warehousing and inventory management, and the complexity of dealing with components for various industries.
  • Vehicle manufacturers are expanding production to capitalize on market opportunities in developing economies, leading to an increase in the demand for automotive spare parts and subsequently fueling the growth of the global spare parts logistics market during the forecast period.
  • For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report Research Analysis Spare parts logistics refers to the management and transportation of spare components for the repair and maintenance of modern machinery and equipment in various industries, including aerospace, electronics, healthcare, manufacturing, and industrial activities.

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