Global Tire Logistics Market Predicted to Grow at a CAGR of 5.79% during the period 2017-2021
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  • Global Tire Logistics Market Predicted to Grow at a CAGR of 5.79% during the period 2017-2021

    (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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