Spare Parts Logistics Market 2015 to grow at a CAGR of 6.93% by 2019: Market Research Store
Deerfield Beach, FL -- (SBWIRE) -- 09/21/2015 -- Spare parts are required after goods or products are being sold to customers. They are also called as replacement parts, service parts, and repair parts. Global Spare Parts Logistics market to grow at a CAGR of 6.93% over the period 2014-2019. Spare parts are generally stored in inventory by vendors to use them later on, such as when the demand arises due the repair of the product and for replacement purpose.
Covered in this Report
The report covers the present scenario and the growth prospects of the Global Spare Parts Logistics market for the period 2015-2019. This report categorizes the Global Spare Parts market based on end-users and geography.
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Global Spare Parts Logistics Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the APAC and EMEA regions; it also covers the Global Spare Parts Logistics market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Commenting on the report, an our analyst said: "Increase in the production of compact vehicles is one of the major trends upcoming in this market. Vendors in the Global Spare Parts Logistics market find great potential in the Compact Vehicle market, which includes subcompacts, micro cars, and superminis."
According to the report, one of the drivers contributing to the growth of the Global Spare Parts Logistics market is the increase in demand from China, which will help vendors serve customers beyond their domestic geographical boundaries.
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Deutsche Post DHL
KUEHNE + NAGEL INC
United Parcel Service of America
Other Prominent Vendors in the market are: Choice Logistics, FedEx SupplyChain, Lockheed Martin, Network Global Logistics, PTC Servigistics, Ryder, SEKO Logistics, Tata Diesl, Total Logistics, Toyota Motor Corporation, TVS Logistics, UTi Worldwide and Verst Group Logistics.
Further, the report states that unorganized and local dealers of spare parts sell products at prices lower than those offered by multinational players; this leads to increase in competition for the overall market. The presence of these local vendors makes competition intense despite the low quality of the products.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.