Market Size of Finished Vehicles Logistics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Finished Vehicles Logistics Market Analysis
During the time frame of the forecast, the Finished Vehicles Logistics Market is expected to register a CAGR of more than 4% per year.
- The growing auto industry is one of the main things driving the growth of the global completed vehicle logistics market. Internationally, the auto industry is growing very quickly because more people are buying cars, especially in countries like Brazil. As the population grows, more people need cars to get around easily, which drives market growth.
- China, the United States, Japan, Germany, and India are among the major automobile-producing countries. In 2021, over 80 million automobiles will be built worldwide. When compared to the previous year, this statistic represents a 3 percent gain. In 2020, China, Japan, and Germany were the top three makers of automobiles and commercial vehicles. As car production expands, so will the demand for finished vehicle logistics to transport and warehouse these vehicles from the manufacturing facility to dealer showrooms. As a result, the market emphasis will expand over the projection period. Therefore, the growth of the automotive industry is expected to fuel the growth of the global finished vehicle logistics (FVL) market during the forecast period.
In the Asia-Pacific region, China, Singapore, and India have 47, 44, and 44 free trade agreements, respectively. These agreements make it possible for logistics to grow and help the economies of the countries. Also, in December 2021, it was announced that a new Asia-Pacific free trade agreement would start on January 1, 2022. The Regional Comprehensive Economic Partnership (RCEP) brings together 15 East Asian and Pacific countries of varying economic levels. Based on the GDP of its members, the RCEP will be the largest trade deal in the world. It will get rid of 90% of tariffs between 15 East Asian and Pacific countries and increase intra-regional exports by USD 42 billion. Because of this, these free trade agreements are likely to increase the amount of goods that are bought and sold.
