Automotive Aftermarket Market
Automotive Aftermarket Market size is valued at US$ 504 Bn in 2019 and expected to grow at a CAGR of XX % in the forecasting period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Strong automotive outlook coupled with the surge in the manufacturing of auto components will drive the automotive aftermarket industry demand by 2026. This can be attributed to increase buyer’s awareness about periodic maintenance, safety, convenience and add-on services like installation of exterior & interior accessories, exhaust components, extended warranty covers, and 24/7 breakdown assistance that will fuel the market growth of automotive aftermarket. The industry offers a wide range of parts and accessories at varied prices and qualities for vehicles.
Additionally, changing lifestyles and the need for traveling long distance has led to increased average distance driven per vehicle. This has resulted in an increase in the maintenance and replacement of automotive parts driving the automotive aftermarket industry growth.
Based on the vehicle part, the market is segmented as replacement parts and accessories. Under this, replacement parts are expected to dominate the global automotive aftermarket market in 2018. These parts are used as a replacement to original auto parts after damage, wear & tear and reduction in the performance of a vehicle.
Region-wise, the market is segmented as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Europe region held the highest market share in 2018. Europe, led by Germany, the UK, and Russia. A large customer base coupled with the presence of OE manufacturers is key factors driving regional market demand. The increasing number of authorized service providers along with rising industry participants will result in increased competition in this region.
Global automotive aftermarket industry market share is moderately fragmented thanks to the presence of numerous regional industry participants. To maintain productivity, players should consider additional methods for improving the quality of a product, including growing service networks, creating branded parts, forward integration, and building scale.
The objective of the report is to present a comprehensive analysis of the Global Automotive Aftermarket Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by Region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Automotive Aftermarket Market dynamics, structure by analyzing the market segments and project the Global Automotive Aftermarket Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Automotive Aftermarket Market make the report investor’s guide.
Automotive Aftermarket Market Scope: Inquire before buying
Automotive Aftermarket Market, By Vehicle Part
• Replacement Parts
o Belt
o Brake
o Clutch
o Lighting
o Electrical
o Engine & AC
o Exhaust
o Filters
o Suspension
o Transmission
o Wiper
• Accessories
Automotive Aftermarket Market, By Sales Outlet
• Professional
o Garages & Service Stations
o Automobile Dealerships
o Government
• DIY
• OEM
Automotive Aftermarket Market, By Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in the Automotive Aftermarket Market:
• Continental AG
• 3M Company
• Akebone Brake corporation
• Delphi
• Federal-Mogul
• Denso
• Magneti Marelli
• Robert Bosch
• ACDElco
• ASIMCO Technologies ltd
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