|
Published by: Mintel International Group Ltd.
Published: Aug. 1, 2008 - 66 Pages
Table of Contents
- Scopes and Themes
- What you need to know
- Definition
- Data sources
- Sales data
- Abbreviations and terms
- Executive Summary
- Aftermarket sluggish in a slowing economy
- Economic slowdown translates into several negative market drivers, but…
- End buyer can be individual consumers or professional installers
- DIY aftermarket relies on a complex distribution structure
- Auto parts store chains grow through expansion and turn to DIFM
- Dealer garages can claim advantage on expertise
- Manufacturers need customer diversification and premium products for topline growth
- Umbrella branding allows for more investment in brand equity
- Branding through distributor warranty helps generic penetration
- Innovation in the era of green auto
- Market Size and Forecast
- Aftermarket growth slows with economy
- Figure 2: Total U.S. sales and forecast of the auto aftermarket, 2002-12
- Figure 3: Total U.S. sales and forecast of the auto aftermarket, at inflation-adjusted prices, 2002-12
- Competitive Context
- DIY versus DIFM
- Cars stay in use longer and need repair
- Overall Segment Performance
- Most segments grow with the overall market
- Figure 4: Total U.S. sales of the auto aftermarket, by segment, 2005 and 2007
- Segment Performance—Tires
- Fewer miles driven and less disposable income to drag tire market down
- Prices rise on increased raw material costs
- Tire efficiency ratings may boost premium priced products
- Figure 5: Total U.S. retail sales of passenger and light truck replacement tires, 2002-08
- Segment Performance— Engines, Transmissions, and AC
- Engine parts commoditized; engines more complex; weak segment
- Figure 6: Total U.S. retail sales of engines, transmissions, and AC, 2002-08
- Segment Performance— Accessories
- Improvement of car appearance drives accessories growth
- Figure 7: Total U.S. retail sales of aftermarket accessories, 2002-08
- Segment Performance—Auto Fluids & Chemicals
- Auto fluids driven by premium brands and technician recommendations
- Figure 8: Total U.S. retail sales of auto fluids, 2002-08
- Segment Performance—Electrical
- Electrical segment shows little evidence of innovation
- Figure 9: Total U.S. retail sales of electrical, 2002-08
- Segment Performance—Exhaust Systems
- Performance enhancement to drive growth in exhaust systems
- Figure 10: Total U.S. retail sales of exhaust systems, 2002-08
- Segment Performance—Brakes
- Brake sales perform better than other internal parts
- Figure 11: Total U.S. retail sales of brakes, 2002-08
- Segment Performance—Steering & Suspension
- Front wheel drive is up, while shock absorbers down
- Figure 12: Total U.S. retail sales of steering, wheels, and shocks, 2002-08
- Segment Performance—Other
- Sales of commoditized parts show slow to no growth
- Figure 13: Total U.S. retail sales of other auto aftermarket parts, 2002-08
- Segment Performance—In-car Entertainment
- Autosound purchases suffer from movement to MP3 players
- Future is in GPS navigation and mobile internet
- Figure 14: Total U.S. wholesale sales of in-car entertainment, 2002-08
- Retail Channels
- Key points
- Aftermarket products available through a wide variety of channels
- Figure 15: Where aftermarket products are purchased, May 2008
- Retail Channels—Auto Parts Stores
- Key points
- Auto parts stores keep pace with overall market
- Figure 16: U.S. sales of leading auto store chains, 2005 and 2007
- Figure 17: Key operational data of leading auto store chains, 2007
- Leading chains aim for the DIFM market
- Fragmented market sees fair share of M&A activity
- Retail Channels—Car Dealerships
- Key points
- Parts revenue sees slow decline
- Figure 18: Total U.S. retail sales of automotive parts at car dealerships, 2002-07
- Body work declines, while mechanical work remains vital
- Figure 19: U.S. retail sales of automotive parts at car dealerships, by type, 2007
- Figure 20: Indexed retail sales of automotive parts at car dealerships, by type, 2002-07
- Dealers enjoy advantage in growing car complexity
- Market Drivers
- Population grows but vehicles may stagnate
- Figure 21: U.S. population estimates by age, 2003-13
- Figure 22: U.S. registered drivers and vehicles per driver, 1985-2006
- Americans drive less to save on gas
- Figure 23: Average gas prices and change in trailing twelve-month (TTM) vehicle miles driven, January 2006 to May 2008
- Consumer confidence is low and aftermarket is still retail
- Improved car quality requires less repair
- Leading Companies
- Key points
- Customer diversity key to survival in U.S. downturn
- Figure 24: North American sales of major auto parts manufacturers, 2007
- Tire manufacturers
- Commoditization
- Production efficiency
- Brand Qualities
- Umbrella branding allows for more investment in brand equity
- Warranties from distributor effectively “brand” generic parts
- Goodyear launches mid-tier lines to up-sell the value consumer
- Innovation and Innovators
- The era of green auto
- Scuderi air-hybrid engine
- Ricardo linear actuation technology
- eCycle battery-powered air conditioning
- Valeo
- Hella
- Green technologies of the future
- Efficient-V engine design
- Eden Energy hydrogen storage
- Bridgestone makes run flats easier to service
- Online vehicle diagnosis
- Advertising and Promotion
- Tire manufacturers
- Figure 25: Media expenditures of leading auto tire brands, 2006-07
- Bridgestone
- Goodyear
- Figure 26: Gemini/Goodyear Auto Repair, November 2007
- Michelin
- Continental
- Products targeting the auto/truck enthusiast
- Figure 27: Bully Dog Triple Dog Downloader, March 2008
- Figure 28: Optima Car Battery, October 2007
- Figure 29: Fram air filter, May 2008
- Figure 30: K&N air filter, March 2008
- Products targeting an upscale consumer
- Figure 31: NRS Brake Pads, December 2007
- Figure 32: Rain X Wiper Blades, January 2008
- Figure 33: Peak Long Life Antifreeze, October 2007
- Figure 34: Sylvania Silverstar Ultra Headlights, October 2007
- Figure 35: Black & Decker Automotive Starter, December 2007
- Auto parts chains
- Figure 36: Media expenditures of leading auto parts store chains, 2006-07
- AutoZone
- Figure 37: AutoZone, December 2007
- Advance Auto
- Figure 38: Advance Auto Parts, March 2008
- NAPA Auto
- Figure 39: NAPA Auto Parts, March 2008
- Discount Tire Centers
- Figure 40: Discount Tire Centers, February 2008
- Appendix: Trade Associations
AbstractAs a retail sector, the auto aftermarket should logically suffer from the current economic slowdown for several reasons. However, retailers are reporting that things are not as bad as they may seem. In this report, Mintel examines the complex dynamics of the aftermarket and identifies factors which are driving changes in production and distribution.
Analysis and insights offered include:
How economic conditions affect consumer driving habits
Which segments of the aftermarket are growing fastest
What parts manufacturers are doing to weather the storm
How different distribution channels rank in the do-it-yourself market
How the strategy of auto parts stores is evolving
Whether dealers or independent repair shops will win out
How generic parts are effectively branded
Which innovations are changing the auto aftermarket industry
Get Full Details About This Report >>
|
|
US: 800.298.5699
Int'l: +1.240.747.3093
|
|
|
|
About MarketResearch.com
MarketResearch.com is an online aggregator selling over 160,000 market research reports, company profiles and country profiles from over 600 research firms. Our reports will provide you with the critical business and competitive intelligence you need for strategic planning and marketing research. Coverage includes the US, UK, Europe, Asia and global markets.
© MarketResearch.com 2008
|
