Polaris Market Research has published a detailed report on the global Automotive Aftermarket Market, offering valuable insights for stakeholders. The report covers key aspects, including global market value, competitor market share, and regional distributions. It highlights current market trends and identifies future growth opportunities, providing essential data to help businesses navigate the evolving market landscape. This comprehensive analysis equips stakeholders with actionable information to make informed decisions and stay competitive. By addressing market dynamics, challenges, and emerging opportunities, the report serves as a critical resource for understanding the complexities of the Automotive Aftermarket market and planning strategic actions effectively.
Global automotive aftermarket market size and share is currently valued at USD 456.42 billion in 2023 and is anticipated to generate an estimated revenue of USD 735.13 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 5.5% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2023 – 2032
Key Market Drivers:
- Increasing vehicle lifespan and demand for replacement parts.
- Growing popularity of e-commerce platforms for automotive parts.
- Rising consumer focus on vehicle customization and upgrades.
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Key Companies in Automotive Aftermarket Market:
- 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
- ZF Friedrichshafen AG
Automotive Aftermarket Market Research Scope
The automotive aftermarket is driven by the rising need for replacement parts and customization. This research highlights the growth of e-commerce platforms, increasing vehicle lifespan, and the demand for advanced technologies in repair and maintenance.
Automotive Aftermarket Market Segmentation:
The automotive aftermarket is segmented by product type, sales channel, and region. Product types include replacement parts, accessories, and lubricants. Sales channels are divided into online and offline. Asia-Pacific leads the market due to the growing vehicle fleet and e-commerce adoption.
Automotive Aftermarket Market, Distribution Channel Outlook (Revenue – USD Billion, 2019-2032)
- Wholesalers & Distributors
- Retailers
- Repair Shops
- OEMs
Automotive Aftermarket Market, Replacement Parts Outlook (Revenue – USD Billion, 2019-2032)
- Battery
- Turbochargers
- Lighting & Electronic Components
- Exhaust Components
- Body Parts
- Filters
- Brake Parts
- Tire
- Wheels
- Others
Automotive Aftermarket Market, Certification Outlook (Revenue – USD Billion, 2019-2032)
- Certified Parts
- Genuine Parts
- Uncertified Parts
Automotive Aftermarket Market, Service Channels Outlook (Revenue – USD Billion, 2019-2032)
- OE (Delegating to OEM’s)
- DIFM (Do it for Me)
- DIY (Do it Yourself)
Automotive Aftermarket Industry Developments:
- June 2023: Continental launched the UltraContact NXT tire series, featuring up to 65% sustainable materials, including recycled, renewable, and ISCC PLUS mass balance-certified components. Available in 19 sizes, this tire sets a new benchmark for sustainability in the industry.
- April 2023: The Goodyear Tire & Rubber Company expanded its Cooper WORK Series with the introduction of the WORK Series Regional Haul Trailer (RHT) 2. This SmartWay-verified trailer tire is designed to improve fuel efficiency and durability, making it ideal for challenging driving conditions and high-scrub applications.
- April 2023: Delphi Technologies added 87 new parts to its product line, with 65 dedicated to its core portfolio, including chassis, fuel delivery, and engine management components. Additionally, its specialty brand Sparta introduced 22 parts focused on expanding the company’s fuel portfolio.
- March 2023: HELLA, under the FORVIA brand, expanded its Black Magic auxiliary headlamp series with the launch of 32 new lightbars. Of these, 14 lightbars have received ECE approval for on-road use, while the remaining are tailored for off-road applications.
The Automotive Aftermarket market report offers an in-depth analysis of market dynamics, including trends, sizes, patterns, and growth factors. It highlights critical developments and emerging trends to help stakeholders refine their strategies and strengthen market positioning. The report concludes with a detailed summary of key findings and the research methodologies employed. This comprehensive analysis serves as a valuable resource for businesses, investors, and stakeholders, enabling them to make informed decisions and drive sustainable growth.
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