A recent report by Market Study Report, LLC, on ‘Automotive Aftermarket Market’ provides a detailed analysis on the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and latest growth trends accepted by key players that form a part of the competitive spectrum of this business.
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The well-known companies profiled in the report include Royal Dutch Shell PLC, Denso Corporation, Johnsons Controls Inc., Exide Technologies, Inc., 3M Company, Delphi Automotive PLC, Magneti Marelli S.p.A, Goodyear Tire & Rubber Company, Robert Bosch GmbH, Cooper Tire & Rubber Company among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
According to a new research the worldwide Automotive Aftermarket market is anticipated to reach USD 519.2 billion by 2026. In 2017, the tire segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global market.
The automotive aftermarket market is highly competitive. Vendors offer products and services required for repair and maintenance for wide range of cars, trucks, vans, and buses. Consumers consider factors such as quality, price, convenience, and vehicle age before making informed decisions about repair and maintenance offered by market players.
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Established industries, technological advancements, and high investment in R&D are factors expected to drive the market growth in the region. Asia-pacific is expected to grow at the highest CAGR during the forecast period. This is due to economic growth in countries such as China and India, leading to rising living standards and high disposable income. Expansion of global players into these countries to tap market potential boosts the market growth. Favorable regulations for production of automotive aftermarket components, and poor road infrastructure in developing countries such as India, and Pakistan are expected to augment market growth during the forecast period.
The various types of automotive aftermarket products include tire, wheels, battery, lighting, exhaust components, body parts, accessories, telematics, and others. The tire segment is expected to lead the market during the forecast period. Tires are easily damaged by external factors and need to be replaced periodically. There has been an increasing demand of radial tires owing to low rolling resistance, higher durability, and enhanced service.
The expanding global automotive industry, along with increasing average age of vehicles majorly drives the market growth. Consumers are increasingly becoming aware of proper maintenance and repair of vehicles, which supports market growth. Other factors driving market growth include greater need for long distance travel, technological advancements in telematics technologies, and changing lifestyles. New emerging markets, emerging consumer demographics, and sale through online channels would provide growth opportunities for automotive aftermarket market in the coming years.
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Automotive Aftermarket Market share by Major regions included:
Middle East & Africa
Table of Contents
1.Overview and Scope
1.1.Research goal & scope
1.3.1.Primary data sources
1.3.2.Secondary data sources
3.Automotive Aftermarket Market Insights
3.1.Automotive Aftermarket – Industry snapshot
3.2.Automotive Aftermarket – Ecosystem analysis
3.3.Automotive Aftermarket Market Dynamics
3.3.1.Automotive Aftermarket – Market Forces
22.214.171.124.Automotive Aftermarket r Market Driver Analysis
126.96.36.199.Automotive Aftermarket Market Restraint/Challenges analysis
188.8.131.52.Automotive Aftermarket Market Opportunity Analysis
3.3.2.Industry analysis – Porter’s five force
184.108.40.206.Bargaining power of supplier
220.127.116.11.Bargaining power of buyer
18.104.22.168.Threat of substitute
22.214.171.124.Threat of new entrant
126.96.36.199.Degree of competition
3.3.3.Automotive Aftermarket Market PEST Analysis, 2017
3.3.4.Automotive Aftermarket Market Value Chain Analysis
3.3.5.Automotive Aftermarket Industry Trends
3.3.6.Competitive Ranking Analysis
4.Automotive Aftermarket Market Size and Forecast, 2017-2026 by Product
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