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According to our LPI (LP Information) latest study, the global Automotive Aftermarket market size was valued at US$ 999760 million in 2023. With growing demand in downstream market, the Automotive Aftermarket is forecast to a readjusted size of US$ 1265390 million by 2030 with a CAGR of 3.4% during review period.
The research report highlights the growth potential of the global Automotive Aftermarket market. Automotive Aftermarket are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Automotive Aftermarket. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Automotive Aftermarket market.
The automotive aftermarket is the secondary market of the automotive industry, concerned with the manufacturing, remanufacturing, distribution, retailing, and installation of all vehicle parts, chemicals, equipment, and accessories.
United States is the largest market of the automotive aftermarket with share over 28.8%. China will rank the first worldwide in sales for an eighth straight year.
Bridgestone, Michelin, Autozone, Genuine Parts Company, Goodyear, Continental, Advance Auto Parts, O'Reilly Auto Parts, Bosch are the main players in the market. The top 5 occupied 6% in 2019, the whole market is quite competitive.
Wear and Tear Parts is the most important type of Automotive Aftermarket, its market share is 43% in 2019, then followed by Tire Service and Crash Relevant Parts, which occupied 13.7% and 13.1% respectively.
Passengers car needs more services in automotive aftermarket compared to Commercial Vehicle, it took nearly 70% of the market.
Key Features:
The report on Automotive Aftermarket market reflects various aspects and provide valuable insights into the industry.
Market Size and Growth: The research report provide an overview of the current size and growth of the Automotive Aftermarket market. It may include historical data, market Segmentation by Type (e.g., Wear and Tear Parts, Crash Relevant Parts), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Automotive Aftermarket market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Automotive Aftermarket market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Automotive Aftermarket industry. This include advancements in Automotive Aftermarket technology, Automotive Aftermarket new entrants, Automotive Aftermarket new investment, and other innovations that are shaping the future of Automotive Aftermarket.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Automotive Aftermarket market. It includes factors influencing customer ' purchasing decisions, preferences for Automotive Aftermarket product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Automotive Aftermarket market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Automotive Aftermarket market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Automotive Aftermarket market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Automotive Aftermarket industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Automotive Aftermarket market.
Market Segmentation:
Automotive Aftermarket market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.
Segmentation by type
- Wear and Tear Parts
- Crash Relevant Parts
- Maintenance Service
- Diagnostics Products and Service
- Tire Service
- Other
Segmentation by application
- Passenger Vehicle
- Commercial Vehicle
This report also splits the market by region:
- Americas
- - United States
- - Canada
- - Mexico
- - Brazil
- APAC
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- Europe
- - Germany
- - France
- - UK
- - Italy
- - Russia
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
- Bridgestone
- Michelin
- Autozone
- Genuine Parts Company
- Goodyear
- Continental
- Advance Auto Parts
- O'Reilly Auto Parts
- Bosch
- Tenneco
- Belron International
- Denso
- Driven Brands
- China Grand Automotive
- Zhongsheng Group
- 3M Company
- Yongda Group
- Monro
- Delphi
- Tuhu Auto