The average age of vehicles in the United States is high - and has been climbing steadily over the last several years. Even new cars require regular service but as they age they require more care and they break down more frequently.
Increasing vehicle population in MEA along with favorable foreign investment are the major factors driving automotive aftermarket industry growth. The market is majorly driven by automobile Automotive aftermarket analysis looking to enhance vehicle performance in terms of exhaust, sound, speed, and appearance, among other aspects.
Growing internet penetration has bolstered growth of online sales resulting into easy availability of vehicle parts leading to frequent purchase.
Automotive aftermarket economies are crucial in the overall automotive manufacturing and maintenance process as auto components need to be replaced on time to maintain overall performance of a vehicle.
Increasing number of authorized service providers along with rise in industry participants will result increased competition in this region. The Automotive aftermarket analysis and distribution segment, on the other hand, is slated to exhibit a stronger growth rate in terms of revenue from to Hence, usage of plastic based auto parts has been a recent trend in the market.
Genuine parts are made by car manufacturers or by OEMs, also known as subcontractors. In JanuaryContinental AG entered into a joint venture with Nexteer Automotive for innovation in advanced steering and driver assistance for automated driving. Increasing influence of technological advancements is guiding the market toward digitalization.
The DIY segment is likely to witness relatively faster growth in terms of revenue from to Chief among the reasons for this strength: Over the past few years, emerging economies such as China, India, and Brazil have been home to various developments in the field, which are expected to boost market growth in Asia Pacific and South America.
It is estimated that over 4.
Advanced technology usage in fabrication of auto parts, surge in automobile production and sales, and digitalization of auto component delivery services are anticipated to spur the market in the region.
Aftersales service provided by auto manufacturer is driving the market demand. Auto Industry Overview Automobiles are complex machines that increasingly include sophisticated computers. Constant evolution in these parts with change in design should drive the market growth. Amazon has tried creating USP in market through offering better convenience and lower prices.
Aftermarket filters, however, offer the chance of choosing a muffler that suits the conditions in which a vehicle operates. While highlighting the key driving and restraining forces for this market, the report also provides a comprehensive section of certain trends followed by the automotive aftermarket.
Regional Insights North America led the automotive aftermarket in terms of revenue in Specialty shops performing transmission work, repeatable oil change service, collision and more. It was the brainchild of automotive insurance companies and was formed to ensure quality of replacement parts used by collision repair shops.
Automobile manufacturers face certain constraints while carrying out manufacturing processes, production cost being one. Service stations and parts retailers both benefit. With the return of economic stability, new car sales have been increasing as well - but the aftermarket remains strong.
China is largest automobile producer, manufactured over 24 million automobiles in Superior quality, product warranty and reliability are the key factors for driving the professional channel for new vehicle owners.WorldView: Automotive Aftermarket Parts Cataloging Grow your share of the automotive aftermarket.
In the face of global vehicle market expansion Forecasts and analysis.
Automotive Aftermarket industry size was over $ billion in and this market will grow at CAGR of over % to with a surge in manufacturing of auto components.
Segment Analysis. The global automotive aftermarket market is segmented on the basis of product type, sales channel, vehicle type, and geography. Based on the type of product, the market is segmented into tire, wheels, battery, lighting, exhaust components, body parts, accessories, telematics, and others.
Global Automotive Aftermarket, Analysis and Forecast ; Focus on Powertrains, Chassis & Safety, Body & Interior and Tires. Covers various segments by type, as well as region wise dynamics and developments. The global automotive aftermarket size was valued at USD billion in and is projected to gain traction over the forecast period.
The market is majorly driven by automobile drivers looking to enhance vehicle performance in terms of exhaust, sound, speed, and appearance, among other aspects. The voice for the automotive aftermarket supplier industry.
Automotive Aftermarket Suppliers Association. Publications & Resources; An in-depth market analysis of the automotive aftermarket sector, the AASA Status Report includes: latest figures on.Download