The spare parts logistics market size in Europe is anticipated to grow by USD 2.88 billion between 2020 and 2025, progressing at a CAGR of over 3% during the forecast period. Factors such as the increasing average age of vehicles and increasing electrification in vehicles will be crucial in driving the growth of the market. The average life of vehicles in some of the key countries in Europe has been increasing since 2013. This is because most of the population in Europe is now keeping their vehicles for longer duration. Besides, the use of high-quality materials in the manufacture of automobiles in Europe is increasing average vehicle age, which is discouraging consumers from purchasing new vehicles. This is increasing the need for regular vehicle maintenance and spare parts replacement, which is driving the growth of the market. In addition, rising free trade agreements in Europe are expected to open multiple growth opportunities for players in the market. But the complexities involved in time-bound deliveries and customized supply chains and shortage of skilled drivers resulting in high lead times might impact the business of vendors during the forecast period.
The spare parts logistics market in Europe report includes information on the product launches, sustainability, and prospects of leading vendors including Bertelsmann SE and Co. KGaA, CEVA Logistics AG, Deutsche Post AG, DSV Panalpina AS, Expeditors International of Washington Inc., FIEGE Logistik Stiftung and Co. KG, Kuehne Nagel International AG, Schenker AG, United Parcel Service Inc., and XPO Logistics Inc.