The Global Automotive Aftermarket Market is projected to reach USD 518.04 billion in 2027. The market growth is expected to increase through the digitalization of automobile repair and parts manufacturing, along with advanced technological incorporations of the production of automotive aftermarket components. The growing acceptance of semi-autonomous, electric, and hybrid and independent vehicles is expected to further fuel the growth of the industry.
Rising disposable income and improved lifestyle are the key drivers of vehicle penetration, expected to drive the demand in the region, in developing countries like India and Brazil. The selling of aftermarket parts over the forecast period is expected to be powered by growth in the automotive manufacturing industry across different regions and by high emissions standards.
Services and technological progress from third parties provide new, profitable income streams to exploit these opportunities. The industry also needs investment in product development, supply chain, organizational design, and pricing models in order to increase demand significantly.
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Substantial investments are anticipated from key players in digitizing product supply sales and services, along with online platforms selling aftermarket products in synchronous with global car suppliers. The online aftermarket sector is expected to enjoy strong growth in developing countries, thanks to the above-listed trade gateways. In addition, the increase in automotive product online sales is expected to fuel more increase in the market.
Emergen Research has segmented into the global Automotive Aftermarket on the basis of Product, Fitting, Application, and region:
- Replacement Part Outlook (Revenue: USD Billion; 2017-2027)
- Brake Parts
- Body parts
- Lighting & Electronic Components
- Exhaust components
- Certification Outlook (Revenue: USD Billion; 2017-2027)
- Genuine Parts
- Certified Parts
- Uncertified Parts
- Service Channel Outlook (Revenue: USD Billion; 2017-2027)
- Distribution Channel Outlook (Revenue: USD Billion; 2017-2027)
- Wholesalers & Distributors
This section of the report offers valuable insights into the geographical segmentation of the Automotive Aftermarket market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.
The report classifies the global Automotive Aftermarket market into various regions, including:
- North America (U.S., Canada)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
The Global Automotive Aftermarket Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold. The leading market contenders listed in the report are as follows:
Bridgestone Corporation, Hella KGaA Hueck & Co., Denso Corporation, Continental, ACDelco, Delphi Automotive, Fauraecia, BASF, Robert Bosch, and 3M Company, among others.
In developed countries, manufacturers follow a range of approaches to achieve strong market share, including mergers, acquisitions, and alliances. Asia-Pacific, thanks to better living standards and high car demand, is projected to be the fastest-growing regional sector. Specialized service centers devoted to fixing such vehicles would be expected to increase with the increased prevalence and adoption of gas and hybrid electric cars.
- The report conducts a comparative assessment of the leading market players participating in the global Automotive Aftermarket market.
- The report marks the notable developments that have recently taken place in the Automotive Aftermarket industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Automotive Aftermarket market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.
Key questions addressed in the report:
- Who are the leading players dominating the global Automotive Aftermarket Market?
- Which factors could potentially hamper the global market growth during the forecast period?
- Which regional market offers the most attractive growth opportunities to the companies operating in this market?
- How is the raw material availability affecting the demand for Automotive Aftermarket in this industry vertical?
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