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Spare Part Logistics Market – Introduction

  • Spare part, also known as spare, repair part, service part, or replacement part, is an exchangeable part, which is kept in an inventory for replacement or repair of failed units
  • Spare part logistics is likely to witness significant growth in the near future. Growing automotive and manufacturing industries across the globe and increasing use of electronic goods are major drivers of the global spare part logistics market.
  • Consumers preferring used vehicles or old vehicles, owing to price rise of new vehicles across the globe, are fueling the demand for spare parts. Government initiatives to boost industrial and manufacturing sectors in several emerging economies are also propelling the global spare part logistics market.

Technological Advancements in logistic services anticipated to Drive Global Spare Part Logistics Market

  • Technology is changing the functioning of logistics companies. The spare part logistics market has been significantly influenced by the introduction and use of new technologies. Some of the new technologies in the global spare part logistics market are Global Positioning System (GPS), warehouse management systems, order entry systems, dispatching communication system, Internet of Things (IoT), automated transportation, similar futuristic innovations, and transportation management system (TMS), among others.

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Asia Pacific Spare Part Logistics Market to Expand at Significant Rate

  • In terms of region, the global spare part logistics market can be divided into: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
  • The spare part logistics market in North America comprises the U.S., Canada, and Rest of North America. The spare part logistics market in Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, the spare part logistics market in Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. The spare part logistics market in Middle East & Africa comprises GCC, South Africa, and Rest of Middle East & Africa. The South America spare part logistics market includes Brazil and Rest of South America.
  • Asia Pacific spare part logistics market is expected to expand at a significant rate during forecast period. Economic development and increase in consumer demand for automotive and electronic goods are the major factors driving the market in Asia Pacific.

Key Players Operating in Global Spare Part Logistics Market

The global spare part logistics market includes several international and regional market players across the globe. These players are adopting different strategies, such as geographical expansions, product portfolio expansion, etc., to enhance their market share.

  • In August 2019, FedEx announced additional investment, around $450 Mn in Memphis Hub Investment for boosting modernization and expansion of project, Memphis Hub is a development project initiated by FedEx Express during March 2018.
  • In April 2019, CEVA Logistics launched a new Xiamen block train service from China to Europe. It is multimodal (Sea-Rail) Transportation mode anticipated to reduce transportation time by approximately 10 days.
  • In August 2018, Ceva Logistics announced entering into a technological partnership with IBM & Maersk through TradeLens, a solution based on block chain technology to increase transparency level in supply chain services

Some of the key players operating in the global spare part logistics market are:

  • CEVA Logistics
  • FedEx
  • Toyota Tsusho Corporation
  • United Parcel Service of America
  • Kerry Logistics Network Limited.
  • Deutsche Post AG
  • Ryder System
  • Logwin AG

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Global Spare Part Logistics Market: Research Scope

Global Spare Part Logistics Market, by Type

  • Inland
  • Air
  • Ocean

Global Spare Part Logistics Market, by End-user

  • Automotive
  • Industrial
  • Others (electronics, aerospace, etc.)

The report on the global spare part logistics market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Spare Part Logistics Market

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