Market Research Report
Global Spare Parts Logistics Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||324108|
|Published||Content info||126 Pages
Delivery time: 1-2 business days
|Global Spare Parts Logistics Market 2019-2023|
|Published: May 2, 2019||Content info: 126 Pages||
The high population density acts as a major driver for trade between India and China. In 2017. India increased the import duty on certain product categories (such as mobile phones. watches, and perfumes) imported from China. However. the increase in import duty will take a long time to have a serious impact on China's imports to India. The growing trade of HS Code 85 products between these two emerging economies is expected to increase the demand for spare parts logistics in countries in APAC Technavio' s analysts have predicted that the spare parts logistics market will register a CAGR of over 6% by 2023.
The rising free trade agreements with many developing countries are increasing the volume of imports and exports in Europe. The increase in free trades provides many opportunities for Europe manufacturers to enter other developed and developing countries. This in turn will drive the demand for spare parts logistics during the forecast period.
With the use of 3D printing, the spare parts manufacturers can achieve same-day production and shipment. Instead of producing a bulk number of spare parts and storing them on inventory, spare parts manufacturers are moving toward on-demand manufacturing to reduce the packaging and inventory management costs. Thus, adoption of 3D printing in manufacturing industry will hinder the market growth. s
For the detailed list of factors that will drive and challenge the growth of the spare parts logistics market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including KUEHNE + NAGEL and United Parcel Service of America Inc, the competitive environment is quite intense. CEVA Logistics, Deutsche Post AG, FedEx, KUEHNE + NAGEL, and United Parcel Service of America Inc. are some of the major companies covered in this report.