Latest News- Spare Parts Logistics Market: Automotive is expected to lead the End-user segment during 2025-2029

The Spare Parts Logistics Market is being driven by Increase in electronic components trade between India and China

The Spare Parts Logistics Market is expected to grow at a CAGR of 5.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 26.7 billion. The global spare parts logistics market is witnessing a significant shift towards the adoption of advanced technologies to boost efficiency and cater to evolving customer requirements. Digitalization, artificial intelligence, and predictive analytics are key technologies being integrated to optimize inventory management, streamline supply chain operations, and facilitate predictive maintenance. Notably, the APAC region dominates airport infrastructure projects, with 575 ongoing initiatives worth USD488 billion as of late 2024. Key projects include the Long Thanh International Airport in Vietnam, estimated to cost USD19 billion. These developments underscore the industry's commitment to leveraging technology to enhance operational excellence and meet growing demand. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Automotive
  • Electronics
  • Industrial
  • Aerospace
  • Others
• Type
  • Forward
  • Reverse
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in electronic components trade between India and China
• Increasing average vehicle age
• Increasing hardware spending in APAC

However, the market also witnesses some limitations, which are as follows:

• Adoption of 3D printing in manufacturing industry
• Complexities involved in time-bound deliveries and customized supply chains
• Shortage of skilled drivers in logistics industry

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Market Scope in Spare Parts Logistics Market Research Report

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Research Analysis Overview

The Spare Parts Logistics market encompasses the transportation, delivery, and warehousing of components and spare parts for various industries, including Aerospace, Electronics, and Healthcare. The performance and complexity of modern machinery necessitate digital technologies, automation, and real-time tracking for efficient inventory management. E-commerce and supply chain management also play significant roles. Factors like inflation, utilization rate, and average sale price impact the market, while the bottom-up methodology and data triangulation approaches ensure accurate market analysis.

Market Research Overview

The global air freight and logistics market encompasses the revenue generated by companies offering air freight transportation, courier services, and comprehensive logistics solutions, including package and mail delivery, customs agents, and inventory management for spare parts and components in sectors such as aerospace and electronics. According to Technavio, market size is determined by the revenues of these providers. Key growth drivers include the surge in cross-border e-commerce activities, necessitating efficient spare parts logistics for timely delivery and inventory management.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/