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Maersk Aims To Boost Indian Revenue With New Rail Service For Auto Companies Maersk Aims To Boost Indian Revenue With New Rail Service For Auto Companies The rail service, which will carry auto parts for export and return with import cargoes, will give companies leeway in managing their supply chain.
Maersk to start new rail service for auto makers
Maersk has launched a rail service between its port in western India and the automobile manufacturing hub of Gurugram as the shipping group looks to boost revenue from its non-ocean business, its South Asia head told Reuters.
The rail service, which will carry auto parts for export and return with import cargoes, will also ensure companies have more predictability in managing their supply chain, Vikash Agarwal, managing director, Maersk South Asia said on Tuesday. Last year, the coronavirus pandemic disrupted supply chains for auto and other companies with road transport coming to a near-halt during the nationwide lockdown.
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NEW YORK, Jan. 20, 2021 /PRNewswire/ The global automotive lightweight material market size is expected to reach
USD 109.5 billion by 2027. according to a new study conducted by
Polaris Market Research. the market is anticipated to register a
CAGR of 7.2% from 2020 to 2027. Increasing stringent policies regarding vehicle emission along with fuel economy regulations are some of the key factors that drive major growth for the market. In addition to this, rising government initiatives and campaigns for vehicle weight reduction is another major factor responsible for the rising demand for automotive lightweight material. Key features such as materials provide enhanced strength, less material consumption, low corrosion rate, and increased efficiency for vehicles. Moreover, the introduction of modern electric vehicles has made a huge revolution in the automotive industry, which in turn favoring market growth