Automotive Aftermarket Market - Global Industry Analysis

Automotive Aftermarket Market - By Replacement Parts (Tyres, Filters, Body Parts, Turbochargers, Battery, Brake Parts, Lighting & Electronic Components, Wheels, Exhaust Components), By Distribution Channel (Local Shops, OEMs, Retailers, Authorized Service Centres, Repair Shops and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2028

Published Date: 20-May-2021 Category: Automotive Report Format : PDF Pages: 130 Report Code: ZMR-236 Status : Published

The automotive aftermarket industry market accounted for USD 403.6 billion in 2020 and is expected to reach USD 610.1 billion by 2028, growing at a CAGR of 5.7% from 2021 to 2028.

Description

Market Overview

The automotive aftermarket industry market accounted for USD 403.6 billion in 2020 and is expected to reach USD 610.1 billion by 2028, growing at a CAGR of 5.7% from 2021 to 2028.

The automotive aftermarket is the secondary market of the automotive industry. It is one of the vigorous, highly complex, and competitive markets that are generally concerned with retailing, manufacturing, remanufacturing, and distribution. In addition, the aftersales sector includes accessories, installation of all vehicle parts, equipment, and chemicals after selling the products by the original equipment manufacturers (OEMs) to the buyers. The automotive aftermarket is a diverse market that majorly deals with maintenance, repair, and post-sale services. Automotive aftermarket comprises the process of replacement of the part damaged due to accident or crash. There is a wide variety of parts of different quality and prices for numerous different vehicle models.

COVID-19 Impact Analysis

The automotive and transportation industries unit of measurement among the foremost susceptible to the continuing COVID-19 incidence, which they unit of measurement presently experiencing unequalled uncertainty. COVID-19 is expected to have a big impact on the industry's give chain and production. The industry's main concern has shifted from disruptions in China's give chain to a general return by demand for its merchandise offered aftermarket. With, all non-essential services pack up, demand for business vehicle parts is expected to plunge.

Furthermore, changes in consumer purchasing behaviour because of the pandemic's uncertainty could have a significant impact on the industry's near-term growth. Meanwhile, the aftermarket players have already been affected by a liquidity shortage and cash crunch.

Growth Factors

The maintenance and repair side of the automotive aftermarket is being pushed forward by rising used-car sales. The demand for aftermarket service and maintenance is being driven by an ageing vehicle fleet, which means this is a useful measure of the fleet's health. The median age of the fleet is equivalent to 0.5 the age of the oldest vehicle if the fleet has an outstanding age profile. A suitable average age is determined by a variety of variables, including the types of vehicles used, levels of use, and operating conditions, and is often affected by legislation: in certain countries, buses over a certain age are not allowed to operate.

The second growth factor is advanced technology used in the fabrication of auto parts, which means 3D printing, also known as additive manufacturing, is the process of printing a component from a digital template layer by layer.

Report Scope :

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Replacement Part Segment Analysis

The tyre segment is expected to dominate the market in terms of revenue in 2020. Since tyres have a shorter replacement period than their component counterparts, it is expected to remain the dominant segment during the forecast period.

Consumer demand is being fuelled by changing consumer lifestyles and a growing need for practical and advanced gadgets. Due to increased adoption of audio video accessories, battery, turbochargers, filters, multicolour lamps, gauges, and switches, the interior accessory segment holds the substantial share in the industry. Fast-paced innovation and rapid prototyping enable manufacturers to respond quickly to market demands.

Distribution Channel Segment Analysis

The industry is being digitized because of the growing impact of technological innovation. The aftermarket is changing into a lot of digital, and therefore the market is shifting. components and facilities square measure obtainable for purchase on-line. Original instrumentation makers (OEMs), Original instrumentation Suppliers (OESs), wholesalers, insurers, and workshops square measure all responding to the burgeoning on-line aftermarket trend. The redoubled use of advanced technology in automotive vehicle components fabrication, the rise in client and traveller vehicle demand, and therefore the medical aid of automotive repair and maintenance services square measure simply many of the factors expected to drive market growth over the forecast amount.

Regional Segment Analysis

 Asia Pacific region is projected to grow at a CAGR of 6.1% over the forecast period, from 2021 to 2028, the Asia Pacific market is projected to expand significantly. The use of advanced technology in auto part fabrication, a boom in consumer and passenger vehicle production and sales, and the digitalization of automotive component distribution services are all expected to boost automotive sales in the area.

Due to rising truck sales in developing region like Latin America, is expected to grow at the fastest CAGR during the forecast period. Due to poor road infrastructure, which necessitates regular maintenance of transportation fleets, the heavy-duty automotive aftermarket is expected to expand at a faster pace.

Key Market Players & Competitive Landscape

3M Company, Continental AG, Cooper Tire & Rubber Company, Delphi Automotive PLC, Denso Corporation, Federal-Mogul Corporation, HELLA KGaA Hueck & Co., Robert Bosch GmbH, Valeo Group, and ZF Friedrichshafen AG are among the leading industry participants. Technological propagation and improved investments in R&D activities by manufacturers and associations are projected to drive industry growth.

The Automotive Aftermarket Industry Market is segmented as follows:

By Replacement Part

  • Tyres
  • Filters
  • Body Parts
  • Turbochargers
  • Battery
  • Brake Parts
  • Lighting & Electronic components
  • Wheels
  • Exhaust Components
  • Others

By Distribution Channel

  • Local Shops
  • OEMs
  • Authorized Service Centres
  • Repair Shops
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1: Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2: Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Replacement Parts
        • 2.1.1.2. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Automotive Aftermarket Market, 2016 – 2028 (USD)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Automotive Aftermarket Market – Replacement Parts Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Replacement Parts, 2020 & 2028
    • 4.2. Tyres
      • 4.2.1. Market Size and Forecast, By Region (USD)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Filters
      • 4.3.1. Market Size and Forecast, By Region (USD)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Body Parts
      • 4.4.1. Market Size and Forecast, By Region (USD)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Turbochargers
      • 4.5.1. Market Size and Forecast, By Region (USD)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Battery
      • 4.6.1. Market Size and Forecast, By Region (USD)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.7. Brake Parts
      • 4.7.1. Market Size and Forecast, By Region (USD)
      • 4.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.7.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.8. Lighting & Electronic Components
      • 4.8.1. Market Size and Forecast, By Region (USD)
      • 4.8.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.8.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.9. Wheels
      • 4.9.1. Market Size and Forecast, By Region (USD)
      • 4.9.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.9.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.10. Exhaust Components
      • 4.10.1. Market Size and Forecast, By Region (USD)
      • 4.10.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.10.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Automotive Aftermarket Market – Regional Analysis
    • 5.1. Overview
      • 5.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 5.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD)
    • 5.2. North America
      • 5.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD)
      • 5.2.2. North America Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.2.3. U.S.
        • 5.2.3.1. U.S. Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.2.4. Canada
        • 5.2.4.1. Canada Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.2.5. Mexico
        • 5.2.5.1. Mexico Market Revenue, By Replacement Parts, 2016 – 2028
    • 5.3. Europe
      • 5.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD)
      • 5.3.2. Europe Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.3.3. Germany
        • 5.3.3.1. Germany Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.3.4. France
        • 5.3.4.1. France Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.3.5. U.K.
        • 5.3.5.1. U.K. Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.3.6. Italy
        • 5.3.6.1. Italy Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.3.7. Spain
        • 5.3.7.1. Spain Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.3.8. Rest of Europe
        • 5.3.8.1. Rest of Europe Market Revenue, By Replacement Parts, 2016 – 2028
    • 5.4. Asia Pacific
      • 5.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD)
      • 5.4.2. Asia Pacific Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.4.3. China
        • 5.4.3.1. China Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.4.4. Japan
        • 5.4.4.1. Japan Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.4.5. India
        • 5.4.5.1. India Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.4.6. South Korea
        • 5.4.6.1. South Korea Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.4.7. South-East Asia
        • 5.4.7.1. South-East Asia Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.4.8. Rest of Asia Pacific
        • 5.4.8.1. Rest of Asia Pacific Market Revenue, By Replacement Parts, 2016 – 2028
    • 5.5. Latin America
      • 5.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD)
      • 5.5.2. Latin America Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.5.3. Brazil
        • 5.5.3.1. Brazil Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.5.4. Argentina
        • 5.5.4.1. Argentina Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.5.5. Rest of Latin America
        • 5.5.5.1. Rest of Latin America Market Revenue, By Replacement Parts, 2016 – 2028
    • 5.6. The Middle-East and Africa
      • 5.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD)
      • 5.6.2. The Middle-East and Africa Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.6.3. GCC Countries
        • 5.6.3.1. GCC Countries Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.6.4. South Africa
        • 5.6.4.1. South Africa Market Revenue, By Replacement Parts, 2016 – 2028
      • 5.6.5. Rest of Middle-East Africa
        • 5.6.5.1. Rest of Middle-East Africa Market Revenue, By Replacement Parts, 2016 – 2028
  • Chapter No. 6 Automotive Aftermarket Market – Industry Analysis
    • 6.1. Introduction
    • 6.2. Market Drivers
      • 6.2.1. Driving Factor 1 Analysis
      • 6.2.2. Driving Factor 2 Analysis
    • 6.3. Market Restraints
      • 6.3.1. Restraining Factor Analysis
    • 6.4. Market Opportunities
      • 6.4.1. Market Opportunity Analysis
    • 6.5. Porter’s Five Forces Analysis
    • 6.6. PEST Analysis
    • 6.7. Regulatory Landscape
    • 6.8. Technology Landscape
    • 6.9. Regional Market Trends
      • 6.9.1. North America
      • 6.9.2. Europe
      • 6.9.3. Asia Pacific
      • 6.9.4. Latin America
      • 6.9.5. The Middle-East and Africa
    • 6.10. Pricing Analysis
    • 6.11. Value Chain Analysis
    • 6.12. Downstream Buyers
    • 6.13. Distributors/Traders List
  • Chapter No. 7 Competitive Landscape
    • 7.1. Company Market Share Analysis – 2019
      • 7.1.1. Global Automotive Aftermarket Market: Company Market Share, 2019
      • 7.1.2. Global Automotive Aftermarket Market, Company Market Revenue, 2016 – 2019 (USD)
      • 7.1.3. Global Automotive Aftermarket Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 7.1.4. Global Automotive Aftermarket Market: Radar Determinant Chart, 2019
    • 7.2. Strategic Developments
      • 7.2.1. Acquisitions & Mergers
      • 7.2.2. New Product Launch
      • 7.2.3. Regional Expansion
    • 7.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 8 Company Profiles
    • 8.1. 3M Company
      • 8.1.1. Company Overview
      • 8.1.2. Key Executives
      • 8.1.3. Product Portfolio
      • 8.1.4. Financial Overview
      • 8.1.5. Operating Business Segments
      • 8.1.6. Business Performance
      • 8.1.7. Recent Developments
    • 8.2. Continental AG
    • 8.3. Cooper Tire & Rubber Company
    • 8.4. Delphi Automotive PLC
    • 8.5. Denso Corporation
    • 8.6. Federal-Mogul Corporation
    • 8.7. Robert Bosch GmbH
    • 8.8. ZF Friedrichshafen AG
  • Chapter No. 9 Marketing Strategy Analysis
    • 9.1. Marketing Channel
    • 9.2. Direct Marketing
    • 9.3. Indirect Marketing
    • 9.4. Marketing Channel Development Trends
    • 9.5. Economic/Pulitical Environmental Change
  • Chapter No. 10 Research Methodology
    • 10.1. Research Methodology
    • 10.2. Phase I - Secondary Research
    • 10.3. Phase II - Data Modeling
      • 10.3.1. Company Share Analysis Model
      • 10.3.2. Revenue Based Modeling
    • 10.4. Phase III - Primary Research
    • 10.5. Research Limitations
      • 10.5.1. Assumptions

Table Of Figures

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Replacement Parts
FIG NO. 2. Market Attractiveness Analysis, By Region
FIG NO. 3. Global Automotive Aftermarket   Market Revenue, 2016 – 2028 (USD)
FIG NO. 4. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 5. Market Revenue Share, By Replacement Parts, 2020 & 2028
FIG NO. 6. Global Automotive Aftermarket   Market for Tyres, Revenue (USD) 2016 – 2028
FIG NO. 7. Comparative Revenue Analysis of Automotive Aftermarket   Market for Tyres, By Country, 2020 & 2028
FIG NO. 8. Global Automotive Aftermarket   Market for Filters, Revenue (USD) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Automotive Aftermarket   Market for Filters, By Country, 2020 & 2028
FIG NO. 10. Global Automotive Aftermarket   Market for Body Parts, Revenue (USD) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Automotive Aftermarket   Market for Body Parts, By Country, 2020 & 2028
FIG NO. 12. Global Automotive Aftermarket   Market for Turbochargers, Revenue (USD) 2016 – 2028
FIG NO. 13. Comparative Revenue Analysis of Automotive Aftermarket   Market for Turbochargers, By Country, 2020 & 2028
FIG NO. 14. Global Automotive Aftermarket   Market for Battery, Revenue (USD) 2016 – 2028
FIG NO. 15. Comparative Revenue Analysis of Automotive Aftermarket   Market for Battery, By Country, 2020 & 2028
FIG NO. 16. Global Automotive Aftermarket   Market for Brake Parts, Revenue (USD) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of Automotive Aftermarket   Market for Brake Parts, By Country, 2020 & 2028
FIG NO. 18. Global Automotive Aftermarket   Market for Lighting & Electronic Components, Revenue (USD) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of Automotive Aftermarket   Market for Lighting & Electronic Components, By Country, 2020 & 2028
FIG NO. 20. Global Automotive Aftermarket   Market for Wheels, Revenue (USD) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Automotive Aftermarket   Market for Wheels, By Country, 2020 & 2028
FIG NO. 22. Global Automotive Aftermarket   Market for Exhaust Components, Revenue (USD) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Automotive Aftermarket   Market for Exhaust Components, By Country, 2020 & 2028
FIG NO. 24. Global Automotive Aftermarket   Market Revenue Share, By Region, 2020 & 2028
FIG NO. 25. North America Automotive Aftermarket   Market Revenue, 2016 - 2028 (USD)
FIG NO. 26. Porter’s Five Forces Analysis for Global Automotive Aftermarket   Market
FIG NO. 27. PEST Analysis for Global Automotive Aftermarket   Market
FIG NO. 28. Pricing Analysis for Global Automotive Aftermarket   Market
FIG NO. 29. Value Chain Analysis for Global Automotive Aftermarket   Market
FIG NO. 30. Company Share Analysis, 2019
FIG NO. 31. Radar Determinant Chart, 2019
FIG NO. 32. Company Strategic Developments – Heat Map Analysis
FIG NO. 33. 3M Company Business Segment Revenue Share, 2020 (%)
FIG NO. 34. 3M Company Geographical Segment Revenue Share, 2020 (%)
FIG NO. 35. Market Channels
FIG NO. 36. Marketing Channel Development Trend
FIG NO. 37. Growth in World Gross Product, 2008-2018
FIG NO. 38. Research Methodology – Detailed View
FIG NO. 39. Research Methodology


Table Of Tables

List of Tables 

TABLE NO. 1. Global Automotive Aftermarket   Market: Snapshot
TABLE NO. 2. Quarterly Automotive Aftermarket   Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Automotive Aftermarket   Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD)
TABLE NO. 6. Global Automotive Aftermarket   Market for Tyres, by Region, 2016 – 2028 (USD)
TABLE NO. 7. Global Automotive Aftermarket   Market for Filters, by Region, 2016 – 2028 (USD)
TABLE NO. 8. Global Automotive Aftermarket   Market for Body Parts, by Region, 2016 – 2028 (USD)
TABLE NO. 9. Global Automotive Aftermarket   Market for Turbochargers, by Region, 2016 – 2028 (USD)
TABLE NO. 10. Global Automotive Aftermarket   Market for Battery, by Region, 2016 – 2028 (USD)
TABLE NO. 11. Global Automotive Aftermarket   Market for Brake Parts, by Region, 2016 – 2028 (USD)
TABLE NO. 12. Global Automotive Aftermarket   Market for Lighting & Electronic Components, by Region, 2016 – 2028 (USD)
TABLE NO. 13. Global Automotive Aftermarket   Market for Wheels, by Region, 2016 – 2028 (USD)
TABLE NO. 14. Global Automotive Aftermarket   Market for Exhaust Components, by Region, 2016 – 2028 (USD)
TABLE NO. 15. Global Automotive Aftermarket   Market Revenue, By Region, 2016 – 2028 (USD)
TABLE NO. 16. North America Automotive Aftermarket   Market Revenue, By Country, 2016 – 2028 (USD)
TABLE NO. 17. North America Automotive Aftermarket   Market Revenue, By Replacement Parts, 2016 – 2028 (USD)
TABLE NO. 18. U.S. Automotive Aftermarket   Market Revenue, By Replacement Parts, 2016 – 2028 (USD)
TABLE NO. 19. Canada Automotive Aftermarket   Market Revenue, By Replacement Parts, 2016 – 2028 (USD)
TABLE NO. 20. Mexico Automotive Aftermarket   Market Revenue, By Replacement Parts, 2016 – 2028 (USD)
TABLE NO. 21. Drivers for the Automotive Aftermarket   Market: Impact Analysis
TABLE NO. 22. Restraints for the Automotive Aftermarket   Market: Impact Analysis
TABLE NO. 23. Major Buyers of Automotive Aftermarket
TABLE NO. 24. Distributors/Traders List of Automotive Aftermarket
TABLE NO. 25. Global Automotive Aftermarket   Market, Company Market Revenue, 2016 – 2019 (USD)
TABLE NO. 26. Global Automotive Aftermarket   Market, Company Y-o-Y Growth, 2017 – 2019 (USD)


 

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FrequentlyAsked Questions

The Automotive aftermarket industry market was valued at USD 403.6 billion in 2020.

The Automotive aftermarket industry market is expected to reach USD 610.1 billion by 2028, growing at a CAGR of 5.7% between 2021 to 2028.

Advanced technology used in auto part fabrication, a boost in consumer and passenger vehicle production and sales, and the digitalization of automotive component distribution services and demand for aftermarket service and maintenance is being driven by an ageing vehicle fleet are all key factors driving market growth.

Asia pacific region held a substantial share of the automotive aftermarket industry market in 2020.Government in the region is heavily investing in the technology. Asia Pacific region is projected to grow at a significant rate owing to the rising demand for automotive aftermarket in developing economies such as China and India.

3M Company, Continental AG, Cooper Tire & Rubber Company, Delphi Automotive PLC, Denso Corporation, Federal-Mogul Corporation, Robert Bosch GmbH, and ZF Friedrichshafen AG are some of the major players in the automotive aftermarket.

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