The main purpose of automotive spare part logistics is to ensure the timely supply of spare parts with the minimum cost. The spare part logistics facing the automotive aftermarket has its specificity compared with the logistics of general goods. The reason is that the logistics activity of automotive spare parts serves for the after-sale service. The purpose of the whole activity is to increase the full vehicle sales, decrease the management cost, improve the service level of after-sale market and gain new profit growth points of the enterprise.
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Market Dynamics for Automotive Spare Parts Logistics industry:
The market is mainly driven by increasing sale of passenger and commercial vehicles has prompted several local and international spare parts logistics companies to expand their market existence in the automotive sector
Owing to the low manufacturing cost in Asia-Pacific region, several automotive companies from North America and Europe have started establishing their operations in this region. Which results growth in production and demand in automotive spares. The increasing demand mainly from the developing regions like the Middle East & Africa, Asia-Pacific, and South American countries are also driving the market. The emerging markets such as India, China, Brazil, Southeast Asia, and Japan are expected to change the trends and dynamics of the market in the future.
Automotive Spare Parts Logistics Market: Segment Overview
The global Automotive Spare Parts Logistics market is estimated to register a CAGR of 6.02% between 2018 and 2024. The growth of the Automotive Spare Parts Logistics market in Asia-Pacific is as a result of American and European Automotive manufacturing companies have started establishing their operations in Asia-Pacific region. Increasing GDP of China and India are increasing the demand of Automotive Spare Parts Logistics market. The regions covered in this report are North America, Europe, Asia-Pacific and Rest of the World.