Global Automotive Aftermarket Market size was valued at US$ 568.17 Bn. in 2021 and the total revenue is expected to grow at 6.2 % through 2022 to 2029, Automotive Aftermarket Market is reaching nearly US$ 919.33 Bn. by 2029.
Automotive Aftermarket Market Overview
The Automotive Aftermarket Market’s drivers, restraints, technical advancements, product developments, market opportunities, restrictions, growth strategies, and market prospects, as well as the forecast period, has been covered in the report in detail. The report offers an in-depth look at the Automotive Aftermarket industry, including key figures such as Automotive Aftermarket market size, market share, revenue growth, and CAGR for the forecast period (2020 to 2029).
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Automotive Aftermarket Market Report Scope and Research Methodology
The Automotive Aftermarket market report covers the competitive landscape, recent development trends, and the growth status of key regions. It provides the market size, percentage share and product cost of the Automotive Aftermarket industry with the growth aspects of various industry sectors and predicts the growth rate forecast from 2021 to 2029. The Automotive Aftermarket market report includes information on value & volume based of various segments and their sub-segments. A detailed global Automotive Aftermarket market overview including market valuation, profits estimates, and market statistics is integral to the report. The report aims to help clients understand the competitive spectrum of the Automotive Aftermarket market. The competitive landscape in the report includes the progress of major players based on crucial parameters, including Automotive Aftermarket market share, new developments, global reach, local competition, production, and price. The report provides an in-depth analysis of the competition in the global Automotive Aftermarket market. SWOT analysis was conducted to provide the strengths and weaknesses of the Automotive Aftermarket market while the bottom-up approach was used to estimate the market size (global and regional markets).
Automotive Aftermarket Market Regional Insights
The study includes a region-wise detailed analysis of the Automotive Aftermarket market. It demonstrates how the most significant regional divides, such as North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa, have global influence.
Automotive Aftermarket Market Segmentation
Retailers and Wholesalers make up the market’s two sub-segments based on the distribution channel. With a 57.2% market share in 2021, the retail sector led the industry. By 2029, the wholesale and distribution sector is anticipated to grow at a reasonably rapid rate in terms of revenue, while the retail sector is anticipated to dominate the industry in terms of size. Since prompt replacement of automotive components is necessary to maintain the overall performance of the vehicle, automotive aftermarket economies are essential elements of the overall automotive manufacturing and maintenance scheme.
As a result of the expanding impact of technological innovation, the market is being digitalized. The market is changing and the aftermarket is going more digital. Online shopping is offered for both parts and services. The rising online aftermarket trend is being addressed by original equipment manufacturers (OEMs), original equipment suppliers (OESs), distributors, insurance, and workshops. A few of the factors anticipated to fuel market growth over the course of the forecast period include the increased use of advanced technologies in the fabrication of auto parts, an increase in the production of consumer and passenger vehicles, and the digitization of automotive repair and maintenance services.
The market is divided into Tier, Batteries, Brake parts, Filters, and others according on the vehicle replacement part. In 2021, the tire subsegment will hold the biggest market share,%. Despite having a shorter replacement cycle than their peers in the component, tires are expected to hold the top spot. The suppliers of aftermarket replacement parts include numerous suppliers of accessories, lubricants, tires, and other component replacements. The industry value chain also includes service enablers like providers of repair services and entertainment services. Hybrid electric car demand is surging in the automotive industry, which will reduce demand for exhaust parts and specialized tools for these specialised vehicles. This restriction is due to the increase in the cost of petrochemicals and fuel.
Automotive Aftermarket Market Key Players
• Continental AG
• 3M Company
• Akebone Brake Corporation
• Delphi
• Federal-Mogul
• Denso
• Magneti Marelli
• Robert Bosch
• ACDElco
• ASIMCO Technologies ltd
• Cooper Tire & Rubber Company
• HELLA KGaA Hueck & Co.
• Robert Bosch GmbH
• Valeo Group
• ZF Friedrichshafen AG
• Robert Bosch GmbH
• Magna International Inc.
• Aisin Seiki Co.
• Hyundai Mobis
• Lear Corp.
• Faurecia
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Key Questions answered in the Automotive Aftermarket Market Report are:
- What is the sales value, production value, consumption value, import and export of Automotive Aftermarket globally (North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major players in the Automotive Aftermarket Industry on a worldwide scale?
- What is the state of business of Automotive Aftermarket market players? (capacity, production, sales, pricing, cost, gross, and revenue)?
- What are the market opportunities and restraints for Automotive Aftermarket suppliers in the global Automotive Aftermarket industry?
- Which application, end-user, or product category might be looking for new growth opportunities? What is each type’s and application’s Automotive Aftermarket market share?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments with their sub-segments and Region
- Competitive Landscape – Top Key Players and Other Prominent Players
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