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(Transportation-News.com, May 21, 2017 ) Logistics and supply chains for spare parts are unstable when compared with market finished products. Many manufacturing companies are facing setbacks because of an increase in operational costs and a decline in demand from consumers. Vendors of logistics services need to be efficient at services such as data management, IT, and supply chain management. Accurate forecasting of demand involves the systematic and proper planning, purchasing, and ordering of logistics operations. Logistics is the framework that enables the transport of spare parts such as machine components, tools, and equipment required for the manufacture of new vehicles and the replacement of defective parts.
Technavios analysts forecast the global tire logistics market to grow at a CAGR of 5.79% during the period 2017-2021.
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The global automotive industry has an annual output of over 65 million units and contributes substantially to the global GDP. Sustained economic growth, infrastructure development, rapid industrialization and an increase in disposable incomes increases the demand for automobiles. Moreover, low auto loan rates in the developed and developing countries are also positively influencing automotive sales, and the electric vehicles (EV) sales are projected to increase due to the rise in emission regulations levied by the governments around the globe with the reduction in battery prices. This will result in the growth of the automobile industry which will subsequently augment the market’s growth during the forecast period.
One of the latest trends that will gain traction in the global tire logistics market is the advancements in technology. The utilization of improved technologies in the logistics services are predicted to increase in the future. Logistics service providers are providing services such as GPS-enabled transportation trucks for tracking, RFID for inventory tracking, bar coding, and management information system-related services. These IT-enabled services raise the efficiency of logistics services on scheduling transportation and delivery and inventory management. Moreover, vendors in the logistics market in Europe have adopted cloud-based customer relationship management (CRM) solutions to improve the vendor-shipper relationship by offering more visibility in the supply chain process.
The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Tire Logistics Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Key vendors
CEVA Holdings
DB Schenker
Deutsche Post DHL Group
DSV
Kuehne + Nagel
Other prominent vendors
Broekman Logistics
BEUMER Group
FedEx Supply Chain
Kerry Logistics
Logwin
Ryder System
SEKO Logistics
TVS Logistics
Verst Group Logistics
Yusen Logistics
Market driver
Increase in tire production due to declining rubber prices.
For a full, detailed list, view our report
Market challenge
Trade-off between competitive pricing and additional services.
For a full, detailed list, view our report
Market trend
Extended car lifecycle increasing replacement of tires per vehicle.
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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