LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global finished vehicles logistics market is expected to grow at a CAGR of more than 5% during the forecast period.
This research report titled ‘Global Finished Vehicles Logistics Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
According to Shakti Jakhar, a lead analyst at Technavio for logistics research, “The global finished vehicles logistics market is growing because of the rising demand for intermodal transport services. Intermodal transportation offers switching of modes that help in the overall reduction in the cost of logistics and also helps to reduce the carbon footprint.”
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The market research analysis categorizes the global finished vehicles logistics market into four major product segments based on the mode of transportation. They are:
- Road
- Rail
- Sea
- Air
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Global finished vehicles logistics market by road
The global finished vehicles logistics market by road is growing because of increased demand for road auto haulers. It includes both international and domestic road haulage. It comprises various transport vehicles such as trucks, lorries, and vans.
“Governments are investing in the development of road infrastructure, which will improve the transportation of vehicles on roads. For instance, the National Highway Authority of India is investing more than USD 600 million in 2017 for the implementation of the intelligent transportation system. Such factors are helping in the growth of the global finished vehicles logistics market by road,” says Shakti.
Global finished vehicles logistics market by rail
The global finished vehicles logistics market by rail is growing because of various developments in railway transportation. For instance, China is planning to invest about USD 420 billion in the development of railway infrastructure by 2020.
The European Union is working closely toward the improvement of the rail sector. It has implemented an upgradation of freight routes in 2016 by deploying the European Rail Traffic Management System (ERTMS). These factors are helping in the growth of the global finished vehicles logistics market by rail.
Global finished vehicles logistics market by sea
The global finished vehicles logistics market by sea is growing because of the presence of pure car carriers (PCCs), such as roll-on/roll-off vessels and lift-on/lift-off vessels. These carriers offer a capacity to carry over 5,000 cars at one time. Pure car and truck carriers (PCTCs) are also used for transporting cars and trucks across the sea. The sea transportation of vehicles is primarily used for the import and export of the vehicles. Mostly, roll-on/roll-off vessels are used for shipping vehicles because they are less expensive.
Global finished vehicles logistics market by air
It is estimated that nearly 80% of the revenue generated by airline operators came from the air cargo industry in 2016. As the average value per ton of traded goods increases, most of the trade will be transported by air cargo, which will generate the demand for air transportation for finished vehicles logistics. These factors are helping the growth of the global finished vehicles logistics market by air.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- APL Logistics
- CEVA Logistics
- GEFCO
- Sevatas
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