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 market report for Automotive Aftermarket includes information on market share and company profiles for the leading international competitors along with a thorough analysis of the competition. The scope of the study includes a complete examination of the Automotive Aftermarket Market as well as the factors influencing regional variations in the growth of the industry.
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Market Scope:
After market engineering, which included market statistics calculations, market size estimations, market predictions, market breakdown, and data triangulation, was complete, extensive primary research was carried out to gather data and confirm important figures. Throughout the market engineering process, top-down, bottom-up, and other data triangulation methodologies were routinely employed to conduct market estimates and forecasting for the general market segments and sub-segments detailed in this study. In order to provide vital information during the study, all data collected during the market engineering process is submitted to comprehensive qualitative and quantitative analysis.
Automotive Aftermarket Market Segment:
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.
1. Global Automotive Aftermarket Market : Research Methodology
2. Global Automotive Aftermarket Market : Executive Summary
2.1. Market Overview and Definitions
2.1.1. Introduction to Global Automotive Aftermarket Market
2.2. Summary
2.2.1. Key Findings
2.2.2. Recommendations for Investors
2.2.3. Recommendations for Market Leaders
2.2.4. Recommendations for New Market Entry
3. Global Automotive Aftermarket Market : Competitive Analysis
3.1. MMR Competition Matrix
3.1.1. Market Structure by region
3.1.2. Competitive Benchmarking of Key Players
3.2. Consolidation in the Market
3.2.1 M&A by region
3.3. Key Developments by Companies
3.4. Market Drivers
3.5. Market Restraints
3.6. Market Opportunities
3.7. Market Challenges
3.8. Market Dynamics
3.9. PORTERS Five Forces Analysis
3.10. PESTLE
3.11. Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• Latin America
3.12. COVID-17.6 Impact
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
To identify the market's leaders and project market revenue, primary and secondary research are both used. CEOs, marketing executives, and seasoned front-line employees were just a few of the notable thought leaders and subject matter experts that participated in the in-depth interviews for the main study. As a part of the primary study, extensive interviews with important thought leaders and business experts—including CEOs, marketing executives, and seasoned front-line staff—were conducted.
The secondary study included a review of the annual and financial reports of the major manufacturers. Secondary data is employed to calculate percentage splits, market shares, growth rates, and global market breakdowns. The results of these calculations are then put up against the original data in comparison. The Automotive Aftermarket market is dominated by the following businesses:
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Regional Analysis:
The regional market research report for Automotive Aftermarket also includes information on the specific market driving forces and changes in market legislation that have an impact on current and future market trends. Current and forthcoming trends are studied in order to evaluate the potential market as a whole and find profitable patterns to lay a stronger foundation. The evaluation of the regional market is built on the basis of the current environment and expected trends.
COVID-19 Impact Analysis on Automotive Aftermarket Market:
A stop in activities between January 2020 and May 2020 resulted in a fall in the growth of end-user industries utilising Automotive Aftermarket. These countries included Spain, France, Italy, China, the United States, the United Kingdom, and Spain. The market for Automotive Aftermarket manufacturers as well as the profits of companies operating in these sectors consequently experienced a sharp decline. This affected the market's growth in 2020. Due to lockdowns and an increase in COVID-19 occurrences globally, end-user business demand for Automotive Aftermarket has been severely decreased.
Key Questions Answered in the Automotive Aftermarket Market Report are:
- Which market segment has the highest percentage of Automotive Aftermarket in 2021?
- To what extent is there competition in the market?
- What are the primary factors influencing the growth of the Automotive Aftermarket market?
- What portion of the market does region Automotive Aftermarket control?
- What is the expected market CAGR from 2022 to 2029?
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