Global Spare Parts Logistics Industry: Key Statistics and Insights in 2024-2032

Summary:

• The global spare parts logistics market size reached US$ 45.6 Billion in 2023.
• The market is expected to reach USD 62.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.4% during 2024-2032.
• Asia Pacific leads the market, accounting for the largest spare parts logistics market share.
• Since ocean freight is a more affordable option for transporting goods—especially heavy or bulky items—over long distances, it makes up the greatest portion of the market.
• The growing requirement for mobility solutions has led to the automotive industry holding the largest market share.
• A promising market view is being provided by the increasing need for spare parts logistics services as machinery and equipment become more complicated.
• The increasing requirement for aftermarket services, such as maintenance, repair, and overhaul (MRO), is driving up demand for effective logistics systems for spare components.

Industry Trends and Drivers:

• Increasing Equipment Complexity:

The growing demand for spare parts logistics services, as machinery and equipment are becoming more complex, is offering a positive market outlook. Complex equipment requires a diverse range of spare parts to maintain efficiency. Moreover, the rising focus on ensuring the availability and timely delivery of spare parts worldwide is impelling the market growth. Logistics providers are focusing on offering specialized services to manage the diverse needs of maintaining complex machinery. Efficient logistics solutions are essential to support the maintenance and repair operations of modern equipment, reduce downtime, and enhance operational efficiency for businesses across various industries.

• Rising Demand for Aftermarket Services:

The rising need for aftermarket services, including maintenance, repair, and overhaul (MRO), is catalyzing the demand for efficient spare parts logistics solutions. Various industries, such as automotive, aerospace, and manufacturing are relying on spare parts to ensure the continued operation and performance of machinery. As a result, companies are investing in robust spare parts logistics processes and systems to support their aftermarket service operations effectively. Moreover, the shift towards predictive maintenance further impels the importance of timely spare parts delivery, which is bolstering the market growth.  

• Advancements in Technology:

The integration of advanced technologies, such as the Internet of Things (IoT), predictive analytics, and automation, in spare parts logistics operations for enhanced efficiency and reliability is supporting the market growth. These advancements enable real time tracking and monitoring of spare parts throughout the supply chain and improve inventory management and order fulfillment processes. Predictive analytics help forecast demand for spare parts more accurately and enable proactive inventory management while reducing stockouts. Automation streamlines warehouse operations, leading to faster order processing and reduced labor costs.

Grab a sample PDF of this report: https://www.imarcgroup.com/spare-parts-logistics-market/requestsample

Spare Parts Logistics Market Report Segmentation:

By Type:

• Ocean Freight
• Air Freight
• Inland Freight

Ocean freight represents the largest segment as it is a cost-effective transportation solution for goods, especially bulky or heavy items, over long distances.

By End User:

• Automotive
• Electronics
• Industrial
• Aerospace
• Others

Automotive holds the biggest market share due to the rising need for mobility solutions.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific enjoys a leading position in the spare parts logistics market, which can be attributed to the increasing focus on supply chain efficiency.

Top Spare Parts Logistics Market Leaders:

The spare parts logistics market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

• CEVA Logistics (CMA CGM S.A.)
• DB Schenker (Deutsche Bahn AG)
• Deutsche Post DHL Group
• DSV A/S
• FedEx Corporation
• Kerry Logistics Network Limited (SF Express Co. Ltd.)
• Kuehne + Nagel International AG
• Logwin AG (Delton AG)
• Nippon Express Co. Ltd.
• Toyota Tsusho Corporation
• TVS Supply Chain Solutions
• United Parcel Service Inc.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: [email protected]

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145