Global Spare Parts Logistics Market Report 2023: Rising Expenditure Capacities of Consumers Drives Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Spare Parts Logistics Market by Type, End User, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global spare parts logistics market size reached US$ 43.9 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 55.6 Billion by 2028, exhibiting a CAGR of 4.02% during 2022-2028.

Companies Mentioned

• CEVA Logistics (CMA CGM S.A.)
• DB Schenker (Deutsche Bahn AG)
• Deutsche Post DHL Group
• DSV A/S
• FedEx Corporation
• Kerry Logistics Network Limited (SF Express Co. Ltd.)
• Kuehne + Nagel International AG
• Logwin AG (Delton AG)
• Nippon Express Co. Ltd.
• Toyota Tsusho Corporation
• TVS Supply Chain Solutions
• United Parcel Service Inc.

The increasing demand in the automotive industry, various technological advancements, and rising expenditure capacities of consumers represent some of the key factors driving the market.

Spare parts logistics refers to a process or a range of services used to manage the flow of accessories required by different industries from one location to another. Spare parts are interchangeable components of machines and systems that are stored as inventory and used to replace failed or damaged parts.

These components are designed in such a way that they can be easily removed or fixed. Spare parts logistics helps in planning the process chain, inspecting the quality of spare parts, controlling the availability of stocks and service parameters, and tracking consignment.

It also performs a series of checks, such as modification, storage, post-production, and technical problems, prior to the delivery of spare parts. As a result, spare parts logistics is widely used across the electronics, aerospace, industrial, and automotive industries.

The increasing demand for spare parts in the automotive industry across the globe is one of the key factors driving the market growth as they are widely used to interchange a dysfunctional section of a machine with a functional one. In line with this, the rising consumer preference toward used or old vehicles owing to increasing prices of new vehicles is facilitating the demand for spare parts.

Additionally, the introduction of multi-story shelf systems and automated storage and retrieval systems (ASRS) for storing spare pacers and protecting them from hazardous substances is favoring the market growth.

Apart from this, key players are focusing on better transparency and efficiency, and minimizing the delivery time is providing an impetus to the market growth. Along with this, the utilization of a global positioning system (GPS) to monitor the speed and routes of the vehicle going to the assigned destination is propelling the market growth.

Moreover, the integration of the Internet of Things (IoT), transportation management systems (TMS), and the adoption of warehouse management, order entry, automated transportation, and dispatching communication systems for streamlining operations and reducing risks are positively influencing the market growth.

Furthermore, the increasing utilization of spare parts logistics in the electronics industry to ensure an optimal level of availability of essential components used for electronic devices is creating a positive outlook for the market. Other factors, including increasing production of passenger vehicles, rising expenditure capacities of consumers, and extensive research and development (R&D) activities, are anticipated to drive the market growth.

Key Questions Answered in This Report:

• How has the global spare parts logistics market performed so far and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global spare parts logistics market?
• What are the key regional markets?
• Which countries represent the most attractive spare parts logistics markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the end user?
• What is the competitive structure of the global spare parts logistics market?
• Who are the key players/companies in the global spare parts logistics market?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Spare Parts Logistics Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Type

6.1 Ocean Freight

6.1.1 Market Trends

6.1.2 Market Forecast

6.2 Air Freight

6.2.1 Market Trends

6.2.2 Market Forecast

6.3 Inland Freight

6.3.1 Market Trends

6.3.2 Market Forecast

7 Market Breakup by End User

7.1 Automotive

7.1.1 Market Trends

7.1.2 Market Forecast

7.2 Electronics

7.2.1 Market Trends

7.2.2 Market Forecast

7.3 Industrial

7.3.1 Market Trends

7.3.2 Market Forecast

7.4 Aerospace

7.4.1 Market Trends

7.4.2 Market Forecast

7.5 Others

7.5.1 Market Trends

7.5.2 Market Forecast

8 Market Breakup by Region

9 Drivers, Restraints, and Opportunities

9.1 Overview

9.2 Drivers

9.3 Restraints

9.4 Opportunities

10 Value Chain Analysis

11 Porters Five Forces Analysis

12 Price Analysis

13 Competitive Landscape

13.1 Market Structure

13.2 Key Players

13.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/98xqxq

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