International Finance

Europe’s Spare Parts Logistics market report 2018-2022

CEVA Logistics, DB SChenker, Deutsche Post DHL Group, Kuehne + Nagel and UPS, EU, Europe, blockchain, logistics industry, Spare Parts Logistics Market, customer service, inventory management, warehousing, distribution solutions, supply chain
The Spare Parts Logistics market in Europe to grow at a CAGR of 3.62% during this period

According to PR Newswire press release, Spare Parts Logistics Market in Europe 2018-2022, 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. It also includes a discussion of the key vendors operating in this market.

The Spare Parts Logistics services include integrated contract logistics solutions covering all aspects of spare parts fulfillment, from planning supply chains and developing warehousing and distribution solutions to inventory management of spare parts and customer service.

One trend in the market is introduction of blockchain in logistics industry. A blockchain is a digitalised, distributed transaction ledger, which involves identical copies being maintained on multiple computer systems controlled by different entities.

According to the report, one driver in the market is increasing demand for spare parts owing to longer lifespan of vehicles. It is observed that the average age of cars has been rising in the EU. The average age of cars in the EU rose by more than 15% from year 2010 to 2016. The average of cars in EU in 2010 was between 8 and 9 years. The average of cars in EU increased to around 11 years in 2016. As the age of the car increases, the need for the spare parts also increases for the car to run smoothly.

The key vendors include CEVA Logistics, DB SChenker, Deutsche Post DHL Group, Kuehne + Nagel and UPS.

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