DP World sets new record in 2024 handling 1.3mln vehicles
DP World, a global leader in logistics and supply chain solutions, has achieved a new milestone last year handling a record 1.3 million vehicles across its terminals in Dubai. This marks a 53.6% increase from the previous year and the highest in the company's history.
This record-breaking performance underscores the strong growth in the automotive industry and DP World's pivotal role in facilitating vehicle imports and exports in the Gulf region, said a statement from DP World.
DP World has announced that its flagship Jebel Ali Port accounted for the majority of this volume, handling nearly 960,000 units, reinforcing its position as the region's premier automotive hub. The remainder were handled at Mina Al Hamriya and Mina Rashid.
China emerged as the top trading partner, contributing nearly 25% of vehicle volumes, followed by Japan, Korea and India.
The global automotive landscape is undergoing a major transformation, with electric vehicles (EVs) projected to surpass traditional internal combustion engine vehicles by 2036. Given that China manufactures more than half of the world's EVs, the global supply chain is evolving to support this new shift towards sustainable mobility.
The efficiency of electric power combined with the reliability of traditional engines has also contributed to the rise of hybrid vehicles worldwide. These developments present substantial opportunities for markets like Dubai to position themselves as critical enablers in this transition.
Abdulla Bin Damithan, the CEO & Managing Director of DP World GCC, said: "Dubai's emergence as a global automotive hub offers immense potential for markets in Asia and Europe, with positive ripple effects on our local economy."
The automotive industry is a powerful catalyst for economic growth - creating employment, attracting foreign investment and stimulating local businesses.
DP World said it was committed to developing the necessary infrastructure to support this growth.
The group's state-of-the-art logistics hubs like Jebel Ali Port and free trade zones like Jafza – home to more than 930 automotive and spare parts companies – are integral to our global automotive supply chains strategy.
"This vision aligns with global projections for passenger vehicles sales, which are expected to grow from 94.7 million in 2024 to 109 million by 2030," stated Damithan.
Jebel Ali Port's capacity of one million car equivalent units, the development of the world's largest and most advanced car market, spanning 20 million sq ft, and the expansion of Mina Al Hamriya underscore DP World's commitment to meeting growing demand and supporting Dubai's D33 Economic Agenda of doubling the size of the economy, he added. -TradeArabia News Service
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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