LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global in-plant logistics market for automobile OEM industry provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global in-plant logistics market for automobile OEM industry will grow at a CAGR of more than 3% during the forecast period. The growing automotive industry in emerging countries and rising share of electric and hybrid vehicles is a major factor driving the market’s growth.
The global automobile industry is anticipated to grow during the forecast period. By 2025, it is expected that the global automotive sales of vehicles will be more than 100 million annually, in terms of volume. Along with the growing automobile industry, a relatively new electric vehicles (EVs) industry is growing rapidly. The share of EVs in the overall automobile market has grown exponentially during 2015-2017. The share of EVs and hybrid vehicles is expected to rise by more than 50% by 2025. The shift toward EVs and hybrid vehicles has gained traction among manufacturers.
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In this report, Technavio highlights the use of Industry 4.0 by automotive OEMs to increase productivity and save cost as one of the key emerging trends in the global in-plant logistics market for automobile OEM industry:
Use of Industry 4.0 by automotive OEMs increasing productivity and saving cost
Industry 4.0 is a trend of automation and data exchange in the manufacturing sector. It combines digital and physical technologies, which transform the automotive industry. Industry 4.0 includes cloud computing, Internet of Things (IoT), cyber-physical systems, and cognitive computing. Industry 4.0 binds together several digital and physical technologies to form a physical-digital-physical connection that is expected to transform the automotive industry by promoting business growth, streamlining operations, and reducing risks.
One of the advantages of implementing industry 4.0 in the automotive sector is that industry 4.0 will allow OEMs and suppliers to quickly adapt manufacturing specifications in response to the changing standards. As the facilities move toward 24-hour production, equipment reliability emerges as an important concern. Industry 4.0 will help ensure that plants have robust monitoring systems to detect any maintenance issues beforehand so that there is no downtime.
“Industry 4.0 will provide OEMs and automotive manufacturers the choice to customize individual vehicles and curtail the delivery time for those vehicles. Industry 4.0 can connect all the locations that the OEMs and automotive manufacturers are based in,” says a senior analyst at Technavio for research on transportation and distribution.
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Global in-plant logistics market for automobile OEM industry segmentation
This market research report segments the global in-plant logistics market for automobile OEM industry based on type of service (in-plant warehousing, line-side feeding, and packing) and key regions (the Americas, APAC, and EMEA).
The in-plant warehousing segment held the largest market share in 2017, accounting for over 26% of the market. This segment is expected to dominate the global market throughout the forecast period.
APAC held the largest share of the global in-plant logistics market for automobile OEM industry in 2017, accounting for a market share of close to 42%. This region is anticipated to witness steady growth during the forecast period.
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