Spare Parts Logistics Market Size Worth $ 69.96 Billion By 2032 | CAGR: 4.65%

The global spare parts logistics market size is expected to reach USD 69.96 billion by 2032, according to a new study by Polaris Market Research. The report “Spare Parts Logistics Market Share, Size, Trends, Industry Analysis Report, By Type (Ocean Freight, Air Freight, Inland Freight); By End User; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Growing aftermarket in India is having a significant impact on the growth of the spare parts logistics market. This is because as more and more vehicles are sold in the country, the demand for spare parts and maintenance services is increasing as well. This has led to a boom in the aftermarket industry, which includes the sale of spare parts, accessories, and other automotive-related products. According to the Rico Auto Industries, by 2024–2025, the aftermarket in India would expand at a rate of close to 12% CAGR and be worth roughly USD 17–18 billion. As the aftermarket industry continues to grow, the demand for efficient and reliable spare parts logistics services is also increasing. This is because the timely delivery of spare parts is crucial for the smooth functioning of the aftermarket industry. Customers expect quick and reliable delivery of spare parts to ensure their vehicles are back on the road as soon as possible.

As the number of cars on the road continues to increase, there is a growing need for spare parts logistics systems that can handle large volumes of shipments. This has led to the development of specialized logistics systems that are designed to handle the unique needs of the spare parts market. According to the Delhi Economic Survey 2021–22, the overall number of automobiles in Delhi increased by 3.03 percent in 2020–21 compared to the fiscal year 2019–20. The growing average age of cars has created a significant opportunity for companies in the spare parts logistics market to provide efficient and reliable logistics solutions to meet the increasing demand for spare parts.

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The United States is a vast country with a complex transportation network that includes air, land, and sea routes. As a result, logistics plays a critical role in the US economy, particularly in the manufacturing and distribution sectors. In order to get items from the point of origin to the end user across various supply chain network segments, U.S. businesses spent $1.63 trillion on logistics in 2019, according to a Statista analysis. Freight will travel across the United States for a total of 5.95 trillion ton-miles by 2025. Growing expenditure on logistics in the United States has led to the growth of the spare parts logistics market.

Spare Parts Logistics Market Report Highlights

• Ocean Freight is anticipated to grow at a faster rate owing to providing cost-effective, reliable, and efficient means of transporting spare parts across long distances.
• Automotive segment is projected to experience significant revenue share due to the increased demand for spare parts and globalization of the automotive industry.
• Asia Pacific is projected to witness higher growth rate owing to the expansion of the automotive industry and increasing manufacturing activity.
• North America is expected to have a larger revenue share in the study period due to strong e-commerce infrastructure and adoption of technologically advanced Solutions.
• The global players include CEVA Logistics, DB Schenker, Deutsche Post, DSV A/S, FedEx, Kerry Logistics Network, Kuehne + Nagel International, Logwin, Nippon Express, Toyota Tsusho, TVS Supply Chain & United Parcel Service.

Polaris Market Research has segmented the spare parts logistics market report based on type, end user and region:

Spare Parts Logistics, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Ocean Freight
• Air Freight
• Inland Freight

Spare Parts Logistics, End User Outlook (Revenue - USD Billion, 2019 - 2032)

• Automotive
• Electronics
• Industrial
• Aerospace

Spare Parts Logistics, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Spare Parts Logistics Market Report Scope