Automotive Parts Aftermarket Market 2022 Global Trend, Segmentation and Opportunities Forecast To 2031

Automotive Parts Aftermarket 2022

The report published on Automotive Parts Aftermarket Market is a comprehensive analysis that includes the key parameters and indicators critical in understanding the market. The data from the years 2022 to 2030 has been used to present the market status and size. The study also covers the overall market valuation along with the CAGR for the forecast period. The introductory chapter presents an overview of Automotive Parts Aftermarket Market along with the product definition and market scope. The report also analyzes consumer trends regarding the products along with the industry development trends.

The global automotive parts aftermarket is projected to progress at a CAGR of 5.4% over the forecast period of 2021-2031, as per latest analysis by Persistence Market Research.

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Demand for automotive parts in the aftermarket is being aided by increased maintenance and repair activities carried out by vehicle owners because stock vehicle parts suffer wear and tear over a period of time. Air filters, fuel filters, and spark plugs, as well as brake pads, are more likely to be replaced at regular intervals.

Governments all over the world have enacted strict car emission standards that require product manufacturers to provide ecologically sustainable and high-performing parts for both, local and international markets, which is expected to drive demand of automotive parts. The automobile parts industry has seen significant expansion in recent years, with rising economies such as China, India, and Brazil expected to drive worldwide market growth.


Market players are rapidly innovating and bring in new, advanced parts into the aftermarket:

  • In June 2021, Michelin introduced new winter tires for trucks, named “Michelin X Multi Grip”. These tires deliver better performance and ensure maximum safety in extreme weather conditions such as snow- and slush-covered roads as well as wet roads.
  • In Feb 2021, Gabriel India Limited developed the first adjustable electronic hydraulic shock absorber for a leading SUV vehicle in the aftermarket sector.

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Key Takeaways from Market Study

  • At a CAGR of 6.7%, electrical parts is projected to be the fastest-growing product segment through 2031.
  • Tires are expected to have the highest share in the product segment, with nearly 42% market share by 2031.
  • By vehicle, passenger cars are projected to be the segment leader with a market share of more than 64%.
  • By Region, Europe is projected to have the highest share in the global market accounting to more than 34%. Germany is expected to hold nearly 29% of the European market share by 2031.
  • The market in the Middle East & Africa region is projected to expand at the fastest CAGR of 6.2%
  • The U.S. is projected to register the highest absolute $ opportunity of more than US$ 44 Bn from 2021 to 2031.
  • By sales channel, authorized dealers are anticipated to lead with more than 45% share of the market.

Market Landscape Identified to Be Fairly Competitive

On a regional, national, and global basis, the worldwide automotive parts aftermarket is highly competitive and fragmented.

Some of the key players included in the report are

  • Robert Bosch GmbH.
  • ZF Friedrichshafen AG
  • Hella KGaA Hueck & Co.
  • NGK Spark Plug
  • Exide Technologies
  • Gabriel India Limited
  • Hitachi Astemo, Ltd.
  • KYB Corporation
  • Tenneco, Inc.
  • Denso Corporation
  • Magna International
  • Continental AG
  • Valeo SA
  • Bridgestone
  • Michelin
  • Goodyear
  • Pirelli
  • Mahle GmbH
  • BorgWarner
  • OSRAM Licht AG
  • Knorr brake
  • Aisin Corporation


The automotive parts aftermarket is characterized by the presence of a few key players from North America, Europe, and China. Growing demand for passenger cars and commercial vehicles equipped with advanced technologies such as clean mobility, around the globe, is expected to propel demand for technologically advanced products over the coming years.

Technological developments along with collaborations & mergers and acquisitions by key market participants are expected to fuel sales of automotive parts in the aftermarket industry.

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Key Questions Answered in the Automotive Parts Aftermarket Market Report

How is the Automotive Parts Aftermarket market expected to grow over the projected period?

What direction is the Automotive Parts Aftermarket market expected to take in terms of volume and value during the forecast period?

What is the impact of macroeconomic factors on the Automotive Parts Aftermarket market in future?

What are the key market drivers in the Automotive Parts Aftermarket market?

What are significant opportunities and improvement areas for Automotive Parts Aftermarket manufacturers?

What are the key developments and trends taking over the Automotive Parts Aftermarket market?

Which are the emerging countries that are expected to create significant growth opportunities in the Automotive Parts Aftermarket market?

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    The Europe automotive parts remanufacturing market is set to be valued over US$ 44 Bn by 2031, according to latest research by Persistence Market Research, a research and consulting firm. The report estimates the market to surge at a steady CAGR of close to 7% though the course of 2021-2031.

  • Bicycle Bearings Market

    Bicycle Bearings will be prominent via aftermarket, and would reach a value in excess of US$ 8 Bn in 2027, expanding at a robust CAGR during the forecast period of 2017-2027.

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