Automotive Aftermarket Report, Size, Growth, Trends & Forecast 2028
According to a new report published by UnivDatos, the Automotive Aftermarket is expected to grow at a CAGR of around 5% during the forecast period (2022-2028).
The analysis has been segmented into Component (Component (Engine Parts {Pistons and piston rings, Engine valves and parts, Fuel injection systems and carburetors, and Powertrain components and others}, Drive Transmission and Steering Parts {Gearboxes, Wheels, Steering systems, Axles, Clutch assembly systems and other parts}, Suspension and Braking Parts {Brake calipers, Brake pads, and Suspension systems}, Equipment {Headlights and & headlight components, Wipers and washer systems, Dashboard instruments, and Other equipment}, Electrical Parts {Starter motors, Spark plugs, Electric ignition systems, Batteries and other parts}, and Other); Distribution Channel (Offline Distribution Channel, Online Distribution Channel); Region/Country.
Click here to view the Report Description & TOC
The automotive aftermarket report has been
aggregated by collecting informative data on various dynamics such as market
drivers, restraints, and opportunities. This innovative report makes use of
several analyses to get a closer outlook on the automotive
aftermarket. The automotive aftermarket report offers a detailed analysis of the latest industry
developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research
repository examines and estimates the automotive aftermarket at the global and
regional levels.
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Market Overview
The automotive
aftermarket provides various services to maintain and keep up the
vehicle by providing spare parts of different categories. The automotive aftermarket provides the customers to get the installation
of the different vehicle parts as per their needs. The growing demand for spare
parts like wheels, axles, headlight components, pistons and piston rings, and
engine valve parts are driving the growth of the market. In addition, the
replacement of vehicle parts, repair, and maintenance of a vehicle are also
part of automotive aftermarket service. Additionally, key stakeholders are
concentrating on launching new automotive turbochargers with enhanced features
to increase sales and strengthen their position in the highly competitive
automotive aftermarket. For instance, in June 2021, MAN energy solutions and
Rolls-Royce signed a strategic partnership agreement that will see MAN’s PBST
brand distribute state-of-the-art MTU turbochargers. With this partnership, the companies combine their
competencies, such as Rolls-Royce’s latest high-fuel efficiency mtu turbocharger
technology for high-speed gasoline and gas engine and PBST’s global sale
structure for the turbocharger.
Some of the major players operating in the market include Continental AG, ZF
Friedrichshafen AG, Dana Inc., Robert Bosch GmbH, Valeo SA, Tenneco Inc.,
Meritor Inc., AISIN SEIKI Co. Ltd., DENSO CORPORATION, HELLA GmbH & Co.
KGaA
The global automotive aftermarket report is studied thoroughly with several aspects that would
help stakeholders in making their decisions more curated.
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Based on component, the market is segmented into engine parts, drive
transmission and steering parts, suspension and braking parts, equipment,
electrical parts, and others. The equipment category to witness the fastest growth
rate during the forecast period. This is mainly due to the rising demand for vehicle products such as
headlights and & headlight components, wipers and washer systems, dashboard
instruments, and other vehicle equipment in developing countries. Thus,
automotive manufacturers are expected to diversify their products to fulfill
the demand of consumers in the automotive aftermarket industry.
On the basis of distribution channel, the market is categorized into offline distribution channel
and online distribution channel. Among these, the
online distribution channel category to witness the fastest growth rate during the forecast period. This is
mainly due to the online
distribution channel providing various to attract customers such as several discounts on the
products, home delivery of bulky parts and components, and easy payment options.
Have a Look at the Chapters
Automotive Aftermarket Geographical
Segmentation Includes:
North America (United States, Canada, and Rest of North America)
Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
Rest of the World
For a better
understanding of the market adoption of the automotive aftermarket industry,
the market is analyzed based on its worldwide presence in the countries such as
North America (U.S., Canada, Rest of North America), Europe (Germany, U.K.,
France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest
of Asia-Pacific), Rest of World. APAC is anticipated to grow at the fastest rate during the forecast period.
This is mainly due to the large
population inclined towards high-performance and electric vehicles. Moreover,
the rise in the purchasing capacity of people is ultimately leading to a high number of production and sales of passenger
vehicles across the region, growing disposable income, and surging per capita
spending of individuals in the emerging economies of the region is driving the
growth of the market. Also, major players in the market continue to invest in
this industry. For instance, in April 2021, Lippert Components Inc.
announced the acquisition of Kaspar Ranch Hand Equipment, LLC. With this acquisition,
Lippert Components Inc.’s aimed to expand
its presence in the automotive parts aftermarket.
The major players targeting the market include
Continental AG
ZF Friedrichshafen AG
Robert Bosch GmbH
Valeo SA
Tenneco Inc.
Meritor Inc.
AISIN SEIKI Co. Ltd.
DENSO CORPORATION
HELLA GmbH & Co. KGaA
Click here to view the Report Description & TOC: https://univdatos.com/reports/automotive-aftermarket
Competitive Landscape
The degree of
competition among prominent global companies has been elaborated by analyzing
several leading key players operating worldwide. The specialist team of research analysts sheds
light on various traits such as global market competition, market share, most
recent industry advancements, innovative product launches, partnerships,
mergers, or acquisitions by leading companies in the automotive aftermarket. The major players
have been analyzed by using research methodologies for getting insight views on
global competition.
Key questions resolved through this analytical market
research report include:
What are the latest trends, new patterns, and technological advancements in the automotive aftermarket?
Which factors are influencing the automotive
aftermarket over the forecast period?
What are the global challenges, threats, and risks in the automotive aftermarket?
Which factors are propelling and restraining the automotive
aftermarket?
What are the demanding global regions of the automotive
aftermarket?
What will be the global market size in the upcoming years?
What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different
businesses, regions, and countries, we offer customized reports as per your
requirements of business nature and geography. Please let us know If you have
any custom needs.
Browse Other Related Research Reports from UnivDatos Market Insights
Automotive Navigation Systems Market
Automotive Transmission Market
About UnivDatos
UnivDatos is a passionate market research firm and a subsidiary of
Universal Data Solutions. We believe in delivering insights through Market
Intelligence Reports, Customized Business Research, and Primary Research. Our
research studies are spread across topics across the world, we cover markets
in over 100 countries using smart research techniques and agile methodologies.
We offer in-depth studies, detailed analysis, and customized reports that help
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