Finished Vehicle Logistics Market: Introduction
- The global finished vehicle logistics market is estimated to expand owing to an increase in transportation across the globe. However, an increase in vehicle production across the globe is projected to drive the demand for logistics services.
- The primary activities included in finished vehicle logistics service include storage and post-production modifications, which include technical issues and/or pre-delivery inspections that consist of numerous tests that are carried out before delivery of the finished vehicle to the customer. Finished vehicles are identified by a specific number, provided by the vehicle manufacturer, which helps identify the vehicle location.
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Key Drivers of Finished Vehicle Logistics Market
- Rise in vehicle registrations in both developing and developed countries coupled with organized transportation and warehousing activities of automotive is enhancing the finished vehicle logistics market across the globe. Expansion of third-party logistics industry, which offers integrated warehousing and transportation solutions, is projected to boost the logistics industry growth. Industry participants are providing value added services, including mobile tracking and GPS, and are supporting vehicle manufacturers to easily track their finished vehicle
- Developments in supply chain management system helps the automotive production planning systems. Increase in demand for responsive supply chains from regional freight forwarding operations and just-in-time is likely to further boost the industry demand for warehousing and logistics Technological advancements witnessed in the logistics industry, such as next-gen global positioning system, order entry system, warehouse management system, and transport management system, are estimated to propel the finished vehicle logistics market across the globe.
Asia Pacific and Europe to hold prominent share of global finished vehicle logistics market
- Europe is projected to hold a major share of the global finished vehicle logistics market due to rise in transportation of finished vehicles across the original equipment manufacturer. Major vehicle manufacturers based in Europe are investing in the expansion of warehousing facilities, which is likely to drive the finished vehicle logistics market in the region. Europe has significant presence of logistics industries including DHL, XPO Logistics, and SNCF, which have major logistics service across Europe, which in turn is anticipated to fuel the finished vehicle logistics market in the region.
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global finished vehicle logistics market due to an increase in sale of vehicles across the region. Increase in vehicle production and vehicle pre-registration across Asia Pacific is anticipate to boost the finished vehicle logistics market in the region.
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Key players operating in global finished vehicle logistics market
The global finished vehicle logistics market is highly concentrated owing to the presence of top manufacturers. A few of the key players operating in the finished vehicle logistics market are:
- DHL International GmbH
- SNCF
- XPO Logistics
- DSV
- Imperial Logistics
- Panalpina
- Kuehne + Nagel
- Ryder System Inc.
- SCHNELLECKE GROUP AG & CO. KG
- Hellmann
- CEVA Logistics