Market Size of GCC Finished Vehicle Logistics Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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GCC Finished Vehicle Logistics Market Analysis
The GCC finished vehicle logistics market is expected to register a CAGR of more than 5% during the forecast period (2023 - 2028).
- The COVID-19 outbreak has widely disrupted the GCC automotive industry, directly affecting the finished vehicles logistics industry in GCC. It has resulted in the shutdown of manufacturing facilities and a decline in sales volume. Furthermore, the movement of goods was restricted, which led to a decline in the demand for finished vehicle logistics services in GCC. These restrictions adversely affected the GCC finished vehicles logistics market.
- The rise in vehicle registrations in GCC countries coupled with organized transportation and warehousing activities of automotive and an increase in investments in the automotive industry, expansion of automobile manufacturing plants, and growth of intermodal freight transportation drive the growth of the GCC finished vehicles logistics market.
- Moreover, the use of blockchain technology in finished vehicle logistics systems is one of the key developments projected to drive market growth in the coming years. Most companies are using this technology to conduct cost-saving business operations for vehicle logistics. The use of blockchain in the finished vehicle logistics industry will make the transportation process more transparent and efficient. It not only improves the visibility and predictability of logistics operations but also accelerates the movement of goods. Some market players are implementing this technology to track each vehicle unit in real-time and manage transactions automatically.
- However, vehicle damage during transportation, shortage of truck drivers hampers the market, and high costs associated with finished vehicle logistics hinder the growth of the GCC finished vehicles logistics market.
