Automotive Aftermarket Market
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May 2021
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Automotive Aftermarket Market Overview
The report is titled ‘Automotive Aftermarket Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the automotive aftermarket market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The automotive aftermarket market is expected to grow at a significant rate in the near future.
The automotive aftermarket market is estimated to reach at a value of US 422.2 Bn by the end of 2022 and expected to reach at a value of US$ 556.3 Bn by 2030 with a significant CAGR of 3.5%.
Automotive Aftermarket Introduction
Automotive aftermarket refers to the after-sale market of the automotive industry. The after-sale market of the automotive industry comprises vehicle equipment, parts, service repair, replacement tires, collision repair and accessories, which are mainly sold after the sale of the original vehicle.
The automotive aftermarket includes the companies which are involved in manufacturing, refurbishing, retailing, distribution, and installation of replacing parts of the vehicle, service repair, equipment, and automotive accessories.
Automotive Aftermarket Market Dynamics
The increased buying and selling of used-vehicles or second-hand vehicles, around the world, has dramatically propelled the repair and maintenance segment of the automotive aftermarket, thereby boosting the overall growth of the global automotive aftermarket. As per the statistics of the Bureau of Transportation of the United States, the sales of second-hand vehicles is constantly on the rise in the country ranging from 37,255,000 in the year 2015 to 40,805,000 vehicles in the year 2019. Owing to which, the global automotive aftermarket is expected to flourish swiftly in the forthcoming future.
The growing length of service of vehicle fleets, especially in developed regions, has resulted in maturation and aging of fleet vehicles which is estimated to be a major stimulating factor for the growth in demand of aftermarket maintenance and service, which is projected to ultimately propel the market growth of automotive aftermarket in the years to come.
However, the sudden strike of global crisis of COVID-19 has drastically impacted the automotive and related industries, around the world, which in turn has affected the automotive aftermarket due to the huge disruption in the supply chains as well as lower consumer demand. Such factors have enormously hindered the overall growth of the global automotive aftermarket.
Furthermore, the deadly virus forced the governments and regulatory authorities of most of the countries around the world to restrict the movement of people and implement nationwide lockdown, thus immediately switching the consumer expenditure priorities to essential purchasing.
On top of that, due to the concentrated supply chains in few regions, the manufacturing industry has also been through a lot of complications. Attributed to all of this, the automotive aftermarket is expected to observe stagnant growth over the coming years.
Automotive Aftermarket Market Segmentation
The global automotive aftermarket market is segmented on the basis of replacement parts, distribution channel, service channel, certification, and regions. On the basis of the replacement parts, the automotive aftermarket market is segmented into Tire, Battery, Brake parts, Filters, Body parts, Lighting & Electronic components, Wheels, Exhaust components, Turbochargers, and Others. On the basis of the distribution channel, the market is categorized into Retailers (OEMs, Repair Shops) and Wholesalers & Distributors. Further, on the basis of the service channel, the market is segmented into DIY (Do It Yourself), DIFM (Do It for Me), and OE (Delegating to OEM’s). Furthermore, the market is segmented on the basis of certification into Genuine Parts, Certified Parts, and Uncertified Parts.
The research report classifies the global automotive aftermarket market based on replacement parts, distribution channel, service channel, certification, and regions.
By Replacement Parts
Tire
Battery
Brake parts
Filters
Body parts
Lighting & Electronic components
Wheels
Exhaust components
Turbochargers
Others
By Distribution Channel
Retailers
OEMs
Repair Shops
Wholesalers & Distributors
By Service Channel
DIY (Do It Yourself)
DIFM (Do It for Me)
OE (Delegating to OEM’s)
By Certification
Genuine Parts
Certified Parts
Uncertified Parts
By Region
North America
Latin America
Africa
Europe
Asia Pacific
Middle East
Automotive Aftermarket Market Key Players
The global automotive aftermarket market is dominated by Continental AG, 3M Company, Delphi Automotive PLC, Federal-Mogul Corporation, Denso Corporation, Magneti Marelli S.p.A., Robert Bosch GmbH, among others.
MMC Overview on Automotive Aftermarket Market Report
The non-identical approach of Reports and Insights stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give a better opportunity for the customers to put their effort.
A research report on the automotive aftermarket market by Reports and Insights is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that support the market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Reimbursement
Concerns for use of automotive aftermarket
Advantages of automotive aftermarket
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to make informed decisions.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.
1. Global Automotive Aftermarket Market Report Overview
1.1. Introduction
1.2. Report Description
1.3. Methodology
2. Global Automotive Aftermarket Market Overview
2.1. Introduction
2.1.1. Introduction
2.1.2. Market Taxonomy
2.2. Executive Summary
2.3. Global Automotive Aftermarket Market Snapshot
2.4. Global Automotive Aftermarket Market Size And Forecast, 2020–2028
2.4.1. Introduction
2.4.2. Market Value Forecast And Annual Growth Rate (AGR) Comparison (2020–2028)
2.5. Global Automotive Aftermarket Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.5.4. Trends
2.6. Porter’s Five Forces Model
2.7. SWOT Analysis
3. Automotive Aftermarket Assessment and Analysis
3.1. Automotive Aftermarket Impact Analysis
3.2. Actions to encourage use of Automotive Aftermarket
3.3. Automotive Aftermarket Promotional Strategy Recommendation
3.4. Road Map Analysis
3.5. GAP Analysis
3.6. Potential Analysis
4. Covid-19 Impact on Automotive Aftermarket Market
4.1. Impact Analysis of Covid-19 on the global Automotive Aftermarket market
4.2. Effect On Value Chain
4.3. Business Impact W.R.T Revenue
4.4. Fluctuation In Production
4.5. Volatility In Price
4.6. Effect On The Overall Trade
4.7. Market Impact Analysis In 2020 (Quarter Wise)
5. Global Automotive Aftermarket Market, By Replacement Parts
5.1. Introduction
5.1.1. Annual Growth Rate Comparison, By Replacement Parts
5.1.2. BPS Analysis, By Replacement Parts
5.2. Market Revenue (US$Mn) and Forecast, By Replacement Parts
5.2.1. Tire
5.2.2. Battery
5.2.3. Brake Parts
5.2.4. Filters
5.2.5. Bod Parts
5.2.6. Lighting & Electronic Components
5.2.7. Wheels
5.2.8. Exhaust Components
5.2.9. Turbochargers
5.2.10. Others
5.3. Global Automotive Aftermarket Market Attractiveness Index, By Replacement Parts
6. Global Automotive Aftermarket Market, By Distribution Channel
6.1. Introduction
6.1.1. Annual Growth Rate Comparison, By Distribution Channel
6.1.2. BPS Analysis, By Distribution Channel
6.2. Market Revenue (US$Mn) and Forecast, By Distribution Channel
6.2.1. Retailers
6.2.1.1. OEMs
6.2.1.2. Repair Shops
6.2.2. Wholesalers & Distributors
6.3. Global Automotive Aftermarket Market Attractiveness Index, By Distribution Channel
7. Global Automotive Aftermarket Market, By Service Channel
7.1. Introduction
7.1.1. Annual Growth Rate Comparison, By Service Channel
7.1.2. BPS Analysis, By Service Channel
7.2. Market Revenue (US$Mn) and Forecast, By Service Channel
7.2.1. DIY (Do it yourself)
7.2.2. DIFM (Do it for me)
7.2.3. OE (Delegating to OEMs)
7.3. Global Automotive Aftermarket Market Attractiveness Index, By Service Channel
8. Global Automotive Aftermarket Market, By Certification
8.1. Introduction
8.1.1. Annual Growth Rate Comparison, By Certification
8.1.2. BPS Analysis, By Certification
8.2. Market Revenue (US$Mn) and Forecast, By Certification
8.2.1. Genuine Parts
8.2.2. Certified Parts
8.2.3. Uncertified Parts
8.3. Global Automotive Aftermarket Market Attractiveness Index, By Certification
9. Global Automotive Aftermarket Market, By Region
9.1. Introduction
9.1.1. Annual Growth Rate Comparison, By Region
9.1.2. BPS Analysis, By Region
9.2. Market Revenue (US$Mn) and Forecast, By Region
9.2.1. North America
9.2.2. Latin America
9.2.3. Europe
9.2.4. Asia Pacific
9.2.5. Middle East
9.2.6. Africa
9.3. Global Automotive Aftermarket Market Attractiveness Index, By Region
10. North America Automotive Aftermarket Market Analysis and Forecast, 2020–2028
10.1. Introduction
10.1.1. Annual Growth Rate Comparison, By Country
10.1.2. BPS Analysis, By Country
10.2. Market Revenue (US$Mn) and Forecast, By Country
10.2.1. U.S. Automotive Aftermarket Market
10.2.2. Canada Automotive Aftermarket Market
10.3. North America Automotive Aftermarket Market, By Replacement Parts
10.3.1. Tire
10.3.2. Battery
10.3.3. Brake Parts
10.3.4. Filters
10.3.5. Bod Parts
10.3.6. Lighting & Electronic Components
10.3.7. Wheels
10.3.8. Exhaust Components
10.3.9. Turbochargers
10.3.10. Others
10.4. North America Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Distribution Channel
10.4.1. Retailers
10.4.1.1. OEMs
10.4.1.2. Repair Shops
10.4.2. Wholesalers & Distributors
10.5. North America Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Service Channel
10.5.1. DIY (Do it yourself)
10.5.2. DIFM (Do it for me)
10.5.3. OE (Delegating to OEMs)
10.6. North America Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Certification
10.6.1. Genuine Parts
10.6.2. Certified Parts
10.6.3. Uncertified Parts
10.7. North America Automotive Aftermarket Market Attractiveness Index
10.7.1. By Country
10.7.2. By Replacement Parts
10.7.3. By Distribution Channel
10.7.4. By Service Channel
10.7.5. By Certification
11. Latin America Automotive Aftermarket Market Analysis and Forecast, 2020–2028
11.1. Introduction
11.1.1. Annual Growth Rate Comparison, By Country
11.1.2. BPS Analysis, By Country
11.2. Market (US$Mn) Forecast, By Country
11.2.1. Brazil Automotive Aftermarket Market
11.2.2. Mexico Automotive Aftermarket Market
11.2.3. Rest Of Latin America Automotive Aftermarket Market
11.3. Latin America Automotive Aftermarket Market, By Replacement Parts
11.3.1. Tire
11.3.2. Battery
11.3.3. Brake Parts
11.3.4. Filters
11.3.5. Bod Parts
11.3.6. Lighting & Electronic Components
11.3.7. Wheels
11.3.8. Exhaust Components
11.3.9. Turbochargers
11.3.10. Others
11.4. Latin America Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Distribution Channel
11.4.1. Retailers
11.4.1.1. OEMs
11.4.1.2. Repair Shops
11.4.2. Wholesalers & Distributors
11.5. Latin America Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Service Channel
11.5.1. DIY (Do it yourself)
11.5.2. DIFM (Do it for me)
11.5.3. OE (Delegating to OEMs)
11.6. Latin America Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Certification
11.6.1. Genuine Parts
11.6.2. Certified Parts
11.6.3. Uncertified Parts
11.7. Latin America Automotive Aftermarket Market Attractiveness Index
11.7.1. By Country
11.7.2. By Replacement Parts
11.7.3. By Distribution Channel
11.7.4. By Service Channel
11.7.5. By Certification
12. Europe Automotive Aftermarket Market Analysis and Forecast, 2020–2028
12.1. Introduction
12.1.1. Annual Growth Rate Comparison, By Country
12.1.2. BPS Analysis, By Country
12.2. Market (US$Mn) Forecast, By Country
12.2.1. U.K. Automotive Aftermarket Market
12.2.2. Germany Automotive Aftermarket Market
12.2.3. Italy Automotive Aftermarket Market
12.2.4. France Automotive Aftermarket Market
12.2.5. Spain Automotive Aftermarket Market
12.2.6. Russia Automotive Aftermarket Market
12.2.7. Rest Of Europe Automotive Aftermarket Market
12.3. Europe Automotive Aftermarket Market, By Replacement Parts
12.3.1. Tire
12.3.2. Battery
12.3.3. Brake Parts
12.3.4. Filters
12.3.5. Bod Parts
12.3.6. Lighting & Electronic Components
12.3.7. Wheels
12.3.8. Exhaust Components
12.3.9. Turbochargers
12.3.10. Others
12.4. Europe Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Distribution Channel
12.4.1. Retailers
12.4.1.1. OEMs
12.4.1.2. Repair Shops
12.4.2. Wholesalers & Distributors
12.5. Europe Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Service Channel
12.5.1. DIY (Do it yourself)
12.5.2. DIFM (Do it for me)
12.5.3. OE (Delegating to OEMs)
12.6. Europe Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Certification
12.6.1. Genuine Parts
12.6.2. Certified Parts
12.6.3. Uncertified Parts
12.7. Europe Automotive Aftermarket Market Attractiveness Index
12.7.1. By Country
12.7.2. By Replacement Parts
12.7.3. By Distribution Channel
12.7.4. By Service Channel
12.7.5. By Certification
13. Asia Pacific Automotive Aftermarket Market Analysis and Forecast, 2020–2028
13.1. Introduction
13.1.1. Annual Growth Rate Comparison, By Country
13.1.2. BPS Analysis, By Country
13.2. Market (US$Mn) Forecast, By Country
13.2.1. China Automotive Aftermarket Market
13.2.2. India Automotive Aftermarket Market
13.2.3. Japan Automotive Aftermarket Market
13.2.4. Australia and New Zealand Automotive Aftermarket Market
13.2.5. South Korea Automotive Aftermarket Market
13.2.6. Rest of Asia Pacific Automotive Aftermarket Market
13.3. Asia Pacific Automotive Aftermarket Market, By Replacement Parts
13.3.1. Tire
13.3.2. Battery
13.3.3. Brake Parts
13.3.4. Filters
13.3.5. Bod Parts
13.3.6. Lighting & Electronic Components
13.3.7. Wheels
13.3.8. Exhaust Components
13.3.9. Turbochargers
13.3.10. Others
13.4. Asia Pacific Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Distribution Channel
13.4.1. Retailers
13.4.1.1. OEMs
13.4.1.2. Repair Shops
13.4.2. Wholesalers & Distributors
13.5. Asia Pacific Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Service Channel
13.5.1. DIY (Do it yourself)
13.5.2. DIFM (Do it for me)
13.5.3. OE (Delegating to OEMs)
13.6. Asia Pacific Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Certification
13.6.1. Genuine Parts
13.6.2. Certified Parts
13.6.3. Uncertified Parts
13.7. Asia Pacific Automotive Aftermarket Market Attractiveness Index
13.7.1. By Country
13.7.2. By Replacement Parts
13.7.3. By Distribution Channel
13.7.4. By Service Channel
13.7.5. By Certification
14. Middle East Automotive Aftermarket Market Analysis and Forecast, 2020–2028
14.1. Introduction
14.1.1. Annual Growth Rate Comparison, By Country
14.1.2. BPS Analysis, By Country
14.2. Market (US$Mn) Forecast, By Country
14.2.1. GCC Countries Automotive Aftermarket Market
14.2.2. Israel Automotive Aftermarket Market
14.2.3. Rest Of Middle East Automotive Aftermarket Market
14.3. Middle East Automotive Aftermarket Market, By Replacement Parts
14.3.1. Tire
14.3.2. Battery
14.3.3. Brake Parts
14.3.4. Filters
14.3.5. Bod Parts
14.3.6. Lighting & Electronic Components
14.3.7. Wheels
14.3.8. Exhaust Components
14.3.9. Turbochargers
14.3.10. Others
14.4. Middle East Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Distribution Channel
14.4.1. Retailers
14.4.1.1. OEMs
14.4.1.2. Repair Shops
14.4.2. Wholesalers & Distributors
14.5. Middle East Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Service Channel
14.5.1. DIY (Do it yourself)
14.5.2. DIFM (Do it for me)
14.5.3. OE (Delegating to OEMs)
14.6. Middle East Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Certification
14.6.1. Genuine Parts
14.6.2. Certified Parts
14.6.3. Uncertified Parts
14.7. Middle East Automotive Aftermarket Market Attractiveness Index
14.7.1. By Country
14.7.2. By Replacement Parts
14.7.3. By Distribution Channel
14.7.4. By Service Channel
14.7.5. By Certification
15. Africa Automotive Aftermarket Market Analysis and Forecast, 2020–2028
15.1. Introduction
15.1.1. Annual Growth Rate Comparison, By Country
15.1.2. BPS Analysis, By Country
15.2. Market (US$Mn) Forecast, By Country
15.2.1. South Africa Countries Automotive Aftermarket Market
15.2.2. Egypt Automotive Aftermarket Market
15.2.3. North Africa Automotive Aftermarket Market
15.2.4. Rest of Africa Automotive Aftermarket Market
15.3. Africa Automotive Aftermarket Market, By Replacement Parts
15.3.1. Tire
15.3.2. Battery
15.3.3. Brake Parts
15.3.4. Filters
15.3.5. Bod Parts
15.3.6. Lighting & Electronic Components
15.3.7. Wheels
15.3.8. Exhaust Components
15.3.9. Turbochargers
15.3.10. Others
15.4. Africa Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Distribution Channel
15.4.1. Retailers
15.4.1.1. OEMs
15.4.1.2. Repair Shops
15.4.2. Wholesalers & Distributors
15.5. Africa Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Service Channel
15.5.1. DIY (Do it yourself)
15.5.2. DIFM (Do it for me)
15.5.3. OE (Delegating to OEMs)
15.6. Africa Automotive Aftermarket Market Revenue (US$Mn) and Forecast, By Certification
15.6.1. Genuine Parts
15.6.2. Certified Parts
15.6.3. Uncertified Parts
15.7. Africa Automotive Aftermarket Market Attractiveness Index
15.7.1. By Country
15.7.2. By Replacement Parts
15.7.3. By Distribution Channel
15.7.4. By Service Channel
15.7.5. By Certification
16. Competitive Landscape
16.1. Company Profiles
16.1.1. Continental AG
16.1.1.1. Company Overview
16.1.1.2. Financial Overview
16.1.1.3. Key Developments
16.1.1.4. Strategies
16.1.1.5. Product Analysis
16.1.2. 3M Company
16.1.3. Delphi Automotive PLC
16.1.4. Federal-Mogul Corporation
16.1.5. Denso Corporation
16.1.6. Magneti Marelli S.p.A.
16.1.7. Robert Bosch GmbH
17. Acronyms
Frequently Asked Question
What is the projected market size & Compound Annual Growth Rate (CAGR) of the automotive aftermarket market?
The automotive aftermarket market is estimated to reach at a value of US 422.2 Bn by the end of 2022 and expected to reach at a value of US$ 556.3 Bn by 2030 with a significant CAGR of 3.5%.
Which is base year calculated in the automotive aftermarket market report?
The base year for the report is 2021 in automotive aftermarket market.
What segments are covered in automotive aftermarket market report?
The research report classifies the global automotive aftermarket market based on replacement parts, distribution channel, service channel, certification, and regions.
What are the key participating players in the automotive aftermarket market?
Continental AG, 3M Company, Delphi Automotive PLC, Federal-Mogul Corporation, Denso Corporation, Magneti Marelli S.p.A., Robert Bosch GmbH, among others are the key participating players in the market
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