Dublin, July 06, 2021 (GLOBE NEWSWIRE) — The “Automotive Logistics Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type, Services, and Sector” report has been added to ResearchAndMarkets.com’s offering.
The automotive logistics market was valued at US$ 180,723.8 million in 2020 and is projected to reach US$ 302,822.8 million by 2028; it is expected to grow at a CAGR of 6.66% during 2020-2028.
The automotive industry has been one of the prime contractors of logistics companies over the years, and the latter has benefitted massively from the automotive industry. The automotive industry players continuously partner with logistics players to transport their components and finished vehicles from one location to another.
With the increasing partnerships, automobile manufacturers and component manufacturers are facilitated with better control in managing inbound and outbound transportation services, shorter lead times, and timely deliveries. Therefore, the increasing number of partnerships between automotive manufacturers and logistics companies drives the growth of automotive logistics market.
Based on type, the outsourcing segment is expected to register a higher CAGR in the global automotive logistics market during the forecast period. The automobile industry relies heavily on the outsourcing of logistics services. These services aid in the acquisition of new information and the expansion of process flexibility.
Over the last several years, 3PL industries…