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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

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NEW YORK, July 10, 2024 /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 estimated to grow at a CAGR of 5.6% during the forecast period. Predictive maintenance plays a crucial role in the spare parts logistics industry by enhancing operational efficiency and reducing downtime. By leveraging predictive analytics and IoT sensors, companies can anticipate equipment failures and schedule maintenance proactively, ensuring that spare parts are available precisely when needed. This approach aligns with the industry’s shift towards enhancing operating efficiency through Industry 4.0 technologies. Despite challenges like the adoption of 3D printing, major players such as CEVA Logistics, Deutsche Post AG, and FedEx Corp. are investing in advanced logistics solutions to meet growing global demand, particularly driven by increased electronic components trade between India and China.

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Spare Parts Logistics Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.6%

Market growth 2024-2028

USD 24.2 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.17

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 48%

Key countries

China, US, Germany, Japan, and India

Key companies profiled

CEVA Logistics, DACHSER SE, Deutsche Bahn AG, Deutsche Post AG, DSV AS, Expeditors International of Washington Inc., FedEx Corp., GEODIS, Kerry Logistics Network Ltd., Kuehne Nagel Management AG, LOGISTEED Ltd., Lufthansa Cargo, Nippon Express Holdings Inc., Ryder System Inc., SEKO Logistics, Scan Global Logistics, Toyota Motor Corp., TVS Supply Chain Solutions Ltd., United Parcel Service Inc., and XPO Inc.

Market Driver

Industry 4.0, the fusion of physical and digital technologies, is revolutionizing manufacturing sectors worldwide. This transformation includes the Internet of Things (IoT), cloud computing, cognitive computing, and cyber-physical systems. By streamlining operations, reducing business risks, and ensuring growth, Industry 4.0 will increase global manufacturing output. With 24-hour production becoming standard, overall equipment effectiveness is crucial. Industry 4.0 enables customized manufacturing, reducing delivery times. As industrial manufacturers expand globally, Industry 4.0 ensures higher connectivity, improving supply chain efficiency for spare parts logistics. Network flexibility allows shifting operations among facilities, enhancing industrial efficiency and boosting spare parts logistics requirements. These benefits are expected to fuel market growth during the forecast period. 

Spare parts logistics is a critical aspect of aftermarket services in various industries, including Aerospace, Electronics, and Healthcare. Trends shaping this market include predictive analytics for proactive maintenance, reverse logistics for circular economy, and digital technologies like AI for efficient warehouse management and inventory control. Aftermarket services encompass repair, refurbishment, and remanufacturing, which add value to customers and reduce costs. Challenges include high costs, unauthorized suppliers, and counterfeit spare parts. Changing customer demands, global economic climate, and political instability impact the market. Digitization and green logistics are essential for sustainability and efficient transportation modes like air, sea, and land. Industrial industries require complex spare parts logistics for modern machinery. Performance-critical components need timely delivery, and warranty management and field service support ensure customer satisfaction. Major restraints include the complexity of spare parts and the need for value-added services. Overall, spare parts logistics plays a crucial role in maintaining industrial productivity and performance. 

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Market Challenges

Spare parts manufacturing is undergoing a significant transformation with the adoption of 3D printing technology. Instead of maintaining inventories of occasionally ordered spare parts, manufacturers are moving towards on-demand manufacturing to reduce costs associated with production, storage, packaging, and transportation. By storing digital blueprints of components, manufacturers can produce and ship parts directly to customers when needed, eliminating the need for inventory storage. This approach saves manufacturers and suppliers inventory costs and reduces logistics expenses by 39%-45%. The use of 3D printing is increasingly popular in industries such as electronics, automotive spare parts, and workshop tools. Additionally, manufacturers can produce parts domestically without establishing production centers, reducing import and export costs. In the future, manufacturers may sell blueprints to suppliers, allowing them to manufacture and sell spare parts components directly to end-users, potentially reducing the need for spare parts logistics functions. Overall, the adoption of 3D printing in spare parts manufacturing offers cost savings, increased efficiency, and flexibility.Spare parts logistics is a critical aspect of modern manufacturing, aerospace, electronics, healthcare, and industrial activities. The challenges in this market include transportation and delivery of spare parts, warehousing and inventory management, and the complexity of dealing with components for various industries. The use of modern machinery and digital technologies, such as automation and real-time tracking, is essential for optimal performance. In the spare parts market, sectors like e-commerce and supply chain management face unique challenges due to inflation and the need for inventory optimization. Market statistics and projections show that the market is growing, with key players focusing on pricing, services supplied, and market engineering. Developments in advanced technologies and joint ventures are shaping the future vision of this industry. Decision-makers must consider external elements, such as market trends and competitor strategies, as well as internal elements, like utilization rate and average sale price, to make informed decisions. This investor’s guide provides percentage splits and market shares, segment breakdowns, and market breakdowns for a better understanding of the market landscape.

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Segment Overview 

This spare parts logistics market report extensively covers market segmentation by

End-user 1.1 Automotive1.2 Electronics1.3 Industrial1.4 Aerospace1.5 OthersType 2.1 Forward2.2 ReverseGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Automotive- The global spare parts logistics market, particularly in the automotive segment, is projected to experience notable growth due to the increasing demand from the passenger vehicle sector. Key spare parts like filters, brakes, suspension, and shock absorbers are frequently replaced in passenger vehicles. The rising number of in-use passenger and commercial vehicles, fueled by the popularity of SUVs, pickup trucks, and light commercial vehicles, is driving global sales. APAC and Europe are significant contributors to the market, with North America holding a substantial share of commercial vehicle sales in 2020. Vehicle manufacturers are expanding production to capitalize on market opportunities in developing economies, leading to an increase in the demand for automotive spare parts and subsequently fueling the growth of the global spare parts logistics market during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

Spare parts logistics refers to the management and transportation of spare components for the repair and maintenance of modern machinery and equipment in various industries, including aerospace, electronics, healthcare, manufacturing, and industrial activities. This market is crucial for ensuring the optimal performance of complex systems and minimizing downtime. The logistics of spare parts involves warehousing, inventory management, and delivery using transportation methods such as air, sea, and ground. Digital technologies and automation play a significant role in modern spare parts logistics, enabling real-time tracking, e-commerce, and supply chain management. Factors such as inflation, complexity, and the utilization rate of spare parts impact the market, requiring a bottom-up methodology and data triangulation approaches to accurately assess market size and trends. The average sale price of spare parts also influences market dynamics.

Market Research Overview

Spare parts logistics refers to the management and transportation of spare components for modern machinery and industrial activities. This market encompasses warehousing, inventory management, and delivery of spare parts for various industries such as aerospace, electronics, healthcare, and manufacturing. The complexity and performance requirements of these industries necessitate advanced technologies like real-time tracking, predictive analytics, and automation. E-commerce and supply chain management have disrupted traditional spare parts logistics, leading to the emergence of digital technologies and market engineering. Inflation, pricing, and utilization rate are key market statistics, while percentage splits and market shares provide segment breakdowns. Decision-makers must consider external elements like political instability and global economic climate, as well as internal elements like major restraints such as high costs, unauthorized suppliers, and counterfeit spare parts. The future vision of spare parts logistics includes circular economy principles, such as repair, refurbishment, and remanufacturing, as well as the use of artificial intelligence, online sales channels, and value-added services like warranty management and field service support. Market projections indicate continued growth, driven by changing customer demands, digitization, and the increasing importance of aftermarket services.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userAutomotiveElectronicsIndustrialAerospaceOthersTypeForwardReverseGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Molex Unveils Versatile VaporConnect Optical Feedthrough Modules Enabling Thermal Management Innovations to Address AI-Driven Data Center Growth

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First-to-market, cassette-based solution for two-phase immersion cooling slashes time and cost associated with installing and upgrading hyperscale data centersPlug-and-play deployment easily connects immersion-tank optical transceivers to cabling infrastructure via fully upgradeable sealed modulesFuture-proof capabilities include flexibility to change connector types and shuffle circuit configurations without impacting mechanical interfaces or tank design

LISLE, Ill., Sept. 23, 2024 /PRNewswire/ — Molex, a global electronics leader and connectivity innovator, today introduced a thermal management solution that reduces the time and cost of deploying and upgrading high-performance data centers to meet unrelenting demand for generative AI and machine learning workflows. Molex VaporConnect™ Optical Feedthrough Modules for two-phase immersion cooling address constant increases in data center speed and capacity by leveraging a unique, cassette-based design that bolts directly onto immersion tanks and enables optical transceivers and network cabling infrastructure to be swapped out without changing mechanical interfaces or impacting immersion tank architecture. Reference designs for the new modules will be available commercially in Q1 of 2025.

“Molex continually embraces innovative optical solutions to ease data center deployments and upgrades while alleviating critical thermal management challenges,” said Trevor Smith, general manager, Optical Connectivity, Molex. “VaporConnect gives customers the flexibility to upgrade connectivity and scale cooling system designs to keep pace with data center growth by simply deploying a different module, which will accelerate upgrades while reducing overall energy, cooling and technology costs.”

Streamlining Two-Phase Immersion Cooling
Molex VaporConnect Optical Feedthrough Modules simplify the connections between optical transceivers contained within immersion tanks and cabling infrastructure that exists outside the tank using fully upgradeable sealed modules. With VaporConnect, sealing and cabling is accomplished inside the module, giving customers the opportunity to upgrade connectors without impacting immersion tank design or architecture. Additionally, customers have the flexibility to re-use standard cabling infrastructure for multiple product generations, which further reduces deployment time, cost and complexity.

A full range of industry-standard and Molex optical connector form factors are available for single- and multi-mode fiber solutions. They also feature mix-and-match functionality to facilitate system upgrades to newer or denser connectors. Customizable module footprints are available to fit specific space and application requirements. Also, Molex VaporConnect Optical Feedthrough Modules are designed to minimize external patching and shuffle requirements by leveraging Molex FlexPlane™ optical circuitry technology. As a result, complex optical shuffles and high-density fiber routing are integrated seamlessly within the module for simpler installation and plug-and-play operation.

Reliable, Versatile, Upgradeable Optical Interconnects
A sealing gasket comes with every VaporConnect module, which is thoroughly tested using industry-standard, helium-leak testing to ensure a reliable seal with the tank wall. This also assures a seamless transition from the server line cards inside the tank to outside cabling infrastructure. Testing is underway for compliance with industry-standard GR-1435-CORE.

VaporConnect modules are designed to accommodate customer specifications, with the number of fiber channels dependent on the number and type of connectors used. As many as 576 fibers can be integrated into a single module. A range of form factor options are available, including MPO, LC and very small form factor (VSFF) options, such as MMC, MDC, SN and SN-MT. This ensures conformance to existing infrastructure and streamlines system upgrades. As part of Molex’s continued investment in this area, an EBO connector option is currently in development, with availability slated for the first half of 2025.

Molex’s Commitment to Optical Network Innovations on Display at ECOC 2024
As the largest manufacturer of Optical Feedthrough Modules for two-phase immersion cooling, Molex has shipped more than 350,000 optical channels to date. At this year’s ECOC’24, Molex will reinforce its commitment to optical network infrastructure innovations with on-site product displays, including the new VaporConnect Optical Feedthrough Modules. The company’s extensive line of optical connectivity products, optoelectronics solutions and wavelength management systems also are being featured at Stand C75. As a participating member in OIF, Molex is part of an interoperability demonstration, which takes place at Booth B83, to spotlight optical networking innovations and solutions for data centers, AI/ML technologies and disaggregated systems.

About Molex
Molex is a global electronics leader committed to making the world a better, more-connected place. With a presence in more than 40 countries, Molex enables transformative technology innovation in the automotive, data center, industrial automation, healthcare, 5G, cloud and consumer device industries. Through trusted customer and industry relationships, unrivaled engineering expertise, and product quality and reliability, Molex realizes the infinite potential of Creating Connections for Life. For more information, visit www.molex.com.

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SOURCE Molex Incorporated

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CASIO Aims to Capture the Capital’s Fashion-Centric Urban Youth with its New Exclusive Store at Kamla Nagar

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NEW DELHI, Sept. 23, 2024 /PRNewswire/ — Casio Computer Co. Ltd, headquartered in Japan and the parent company of Casio India, launches its exclusive store in Kamla Nagar. With this endeavour, the brand has strengthened its retail footprint to 64 stores across India with the fifth exclusive Casio store in New Delhi.

Located in the heart of Kamla Nagar market, a vibrant hub for Delhi University students, the new Casio Exclusive store is poised to become an emblem of trendsetting timepieces, blending Japanese quality and craftsmanship with sophisticated style. The store features G-SHOCK’s Limited-Edition drops, all iconic styles of 5000, 5600, 6900, 110 & 2100 Series and the latest launches from the G-STEEL range. Customers will find timepieces that showcase precision and design—from the rugged durability of G-SHOCK to the timeless elegance of Casio watches to the sophisticated chronographs of Edifice, and the nostalgic appeal of Vintage—catering to a wide array of tastes and preferences.

Speaking about the launch, Mr. Hideki Imai, Managing Director of Casio India, said, “We are thrilled to announce the opening of our newest CASIO store in Kamla Nagar, marking our fifth milestone in Delhi and our 64th across India. This launch represents a significant step in our nationwide expansion and our commitment to engaging with the students and watch enthusiasts who frequently visit and reside in the North campus of Delhi University.

“Kamla Nagar, with its vibrant community of young, creative minds, is the ideal location for our newest store. This launch reinforces our dedication to delivering unique and immersive experiences to our consumers in Delhi NCR, aligning with their evolving lifestyles and preferences. We look forward to welcoming our customers to the new store, where they can experience a fine blend of Japanese craftsmanship, unmatched durability and trendsetting style.”

Set to open its doors to Delhi University’s fashion and watch enthusiasts who value individuality and a unique sense of style, this store promises an enthralling experience unlike any other. Located at Shop No. 33/34, Kamla Nehru Marg, Bungalow Road, the brand invites visitors to explore its newly curated space, where every corner embodies the spirit of innovation and creativity. The store is operational from 10:30 AM to 09:30 PM on all days of the week.

About Casio India Co. Pvt. Ltd.:

Casio India Co. Pvt. Ltd.(CIC) is the Indian subsidiary of Casio Computer Co., Ltd., Tokyo, Japan, one of the world’s leading manufacturers of consumer electronics and business equipment solutions. Casio India has established a dynamic presence in the Indian market since 1996, emerging as a leading and cherished consumer goods manufacturer. Casio India’s range of products includes the sales and marketing of Timepieces, Electronic Musical Instruments, Desktop Calculators, Scientific Calculators, Label Printers, and Clocks.

 Setting the benchmark for excellence, Casio India is dedicated to embodying the spirit of innovation and quality that defines the Casio legacy. With a strong commitment to its corporate creed of ‘creativity and contribution,’ Casio has consistently translated this ethos into the creation of innovative products making a positive impact on society.

For more information, visit https://www.casio.com/in/

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Hospital in Greenland chooses Sectra’s radiology solution–enhanced cross-country collaboration for improved patient care

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LINKÖPING, Sweden, Sept. 23, 2024 /PRNewswire/ — International medical imaging IT and cybersecurity company Sectra (STO: SECT B) will provide its enterprise imaging solution to Dronning Ingrids hospital (DIH) in Greenland. The solution will enhance DIH’s ongoing collaboration with hospitals in Denmark, addressing resource and subspecialty challenges, and ultimately improving patient care in the region. 

“The partnerships we have with hospitals in Denmark are highly important to us as we, being sparsely populated, struggle to recruit staff and cover medical specialties locally. To deliver care at the speed and quality we want, we need to both increase the efficiency of our internal radiology workflows and facilitate the cooperation with healthcare providers in Denmark. Sectra’s unified platform enables this by providing easy access to images, data, patient portfolio and necessary tools, along with the ability to efficiently share information,” says Cosmus Pyndt, Manager of the diagnostic and therapeutic department in the region.

DIH is Greenland’s central hospital. It is located in the city of Nuuk, also supporting 15 clinics spread around the country. The contract for Sectra’s enterprise imaging solution was signed in the second quarter of Sectra’s 2024/2025 fiscal year following a donation to the hospital from Kirsten og Freddy Johansens Fond. DIH will initially utilize the solution’s module for radiology.

“Sharing resources, expertise and workload between hospitals within a region or, as in this case, even across borders, is crucial in handling the increasing workloads in healthcare and resource shortages. Therefore, the sharing of information and images between hospitals should be efficient and easy. It is encouraging to witness the collaboration between DIH and hospitals in Denmark. The involvement of Rigshospitalet in Denmark, which went live with Sectra this summer, and particularly the expertise of Chief Radiologist Martin Lundsgaard Hansen, has been helpful in shaping this project,” says Sune Henriksen, Managing Director, Sectra Denmark.

He continues: “I am honored to support Dronning Ingrids hospital in delivering high-quality patient care, and we are excited about this new chapter for Sectra as we extend to support healthcare in Greenland.”

Sectra’s enterprise imaging solution provides a unified strategy for all imaging needs while lowering operational costs. The scalable and modular solution, with a VNA at its core, allows healthcare providers to grow from ology to ology and from enterprise to enterprise. Visit Sectra’s website to read more about Sectra and why it’s top-ranked in ‘Best in KLAS‘.

About Sectra
Sectra contributes to a healthier and safer society by assisting health systems throughout the world to enhance the efficiency of care, and authorities and defense forces in Europe to protect society’s most sensitive information. The company, founded in 1978, is headquartered in Linköping, Sweden, with direct sales in 19 countries, and distribution partners worldwide. Sales in the 2023/2024 fiscal year totaled SEK 2,964 million. The Sectra share is quoted on the Nasdaq Stockholm exchange. For more information, visit Sectra’s website.

For further information, please contact:
Dr. Torbjörn Kronander, CEO and President Sectra AB, +46 (0)705 23 52 27
Marie Ekström Trägårdh, Executive Vice President Sectra AB and President Sectra Imaging IT Solutions, +46 (0)708 23 56 10

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