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Spare Parts Logistics Market size is set to grow by USD 24.2 billion from 2024-2028, Increase in electronic components trade between India and China boost the market, Technavio

Spare Parts Logistics Market size is set to grow by USD 24.2 billion from 2024-2028, Increase in electronic components tra...
/PRNewswire/ -- The global spare parts logistics market size is estimated to grow by USD 24.2 billion from 2024-2028, according to Technavio. The market is...

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The global spare parts logistics market is expected to experience significant growth, with a projected increase of USD 24.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.6% during the forecast period, driven by the adoption of Industry 4.0 technologies and the increasing demand for electronic components trade between India and China. Major players such as CEVA Logistics, Deutsche Post AG, and FedEx Corp. are investing in advanced logistics solutions to meet this growing demand. The market faces challenges such as the adoption of 3D printing, but the use of predictive maintenance and IoT sensors is enhancing operational efficiency and reducing downtime. The spare parts logistics market is critical for various industries, including Aerospace, Electronics, and Healthcare, and is expected to play a crucial role in maintaining industrial productivity and performance. The report provides a detailed analysis of market segments, customer landscape, and companies, and can be accessed on the Technavio website.

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