The Global Automotive Aftermarket Market is projected to reach USD 518.04 billion in 2027. The market growth is expected to increase through the digitalization of automobile repair and parts manufacturing, along with advanced technological incorporations of the production of automotive aftermarket components. The growing acceptance of semi-autonomous, electric, and hybrid and independent vehicles is expected to further fuel the growth of the industry. Rising disposable income and improved lifestyle are the key drivers of vehicle penetration, expected to drive the demand in the region, in developing countries like India and Brazil. The selling of aftermarket parts over the forecast period is expected to be powered by growth in the automotive manufacturing industry across different regions and by high emissions standards. Services and technological progress from third parties provide new, profitable income streams to exploit these opportunities. The industry also needs investment in product development, supply chain, organizational design, and pricing models in order to increase demand significantly.
The Automotive Aftermarket Market report presents comprehensive information covering insightful data for businesses and investors for the time period of 2020-2027. The report studies the historical data of the Automotive Aftermarket market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Automotive Aftermarket industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Automotive Aftermarket market.
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Further key findings from the report suggest
- The digitization of the networks and services would also allow customers to deepen their research and inform about the quality, location, and availability of services in the workshop before buying or repairing their vehicle.
- Due to the growing number of weight vehicles and the rising age of the light vehicle fleet, the aftermarket must expand dramatically over the forecast period.
- Manufacturers’ innovative business models and strategies are anticipated to provide sustained market growth opportunities and rising investment in them.
- The automotive aftermarket is expected to undergo a phase change due to the growing proportion of specialist car collision repair centers dedicated to servicing different vehicles, such as alternative fuel-powered vehicles.
- North America has a higher acceptance rate of technology, which is expected to result in faster and higher penetration of hybrid electric cars in the area relative to other geographies.
Major Players/Manufacturers profiled in the report are:
Bridgestone Corporation, Hella KGaA Hueck & Co., Denso Corporation, Continental, ACDelco, Delphi Automotive, Fauraecia, BASF, Robert Bosch, and 3M Company, among others.
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For the purpose of this report, Emergen Research has segmented into the global Automotive Aftermarket on the basis of Product, Fitting, Application, and region:
Replacement Part Outlook (Revenue: USD Billion; 2017-2027)
- Tire
- Battery
- Brake Parts
- Filters
- Body parts
- Lighting & Electronic Components
- Wheels
- Exhaust components
- Turbochargers
- Others
Certification Outlook (Revenue: USD Billion; 2017-2027)
- Genuine Parts
- Certified Parts
- Uncertified Parts
Service Channel Outlook (Revenue: USD Billion; 2017-2027)
- DIY
- DIFM
- OE
Distribution Channel Outlook (Revenue: USD Billion; 2017-2027)
- Retailers
- Wholesalers & Distributors
The Global Automotive Aftermarket Market is further analyzed across the key geographical locations where the market has expanded to a significant size. The key region analyzed are North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise analysis to provide a comprehensive analysis of the Automotive Aftermarket market in terms of production and consumption patterns, supply and demand ratio, import/export, revenue contribution, trends, and presence of prominent players in each region.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report offers insightful information about the market dynamics of the Automotive Aftermarket market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Automotive Aftermarket market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Automotive Aftermarket market.
Key Benefits of the Report:
- Comprehensive analysis of the competitive scenario and its changing dynamics
- Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
- In-depth 8 year analysis of the Global Automotive Aftermarket Market
- Critical assessment of the key market segments
- Comprehensive analysis of the drivers, restraints, trends, and opportunities
- Detailed regional analysis and extensive company profiling
- Extensive assessment of current and emerging trends of the market
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