ASEAN Automotive Aftermarket, By Category Type (Accessories ( Interior and Exterior), Parts (Lubricants , Tires, Batteries , Wear & Tear Parts , Filters , Collision Body , Starters & Alternators, Lighting Exhaust Components and Spark Plugs and Services (G

ASEAN Automotive Aftermarket, By Category Type (Accessories ( Interior and Exterior), Parts (Lubricants , Tires, Batteries , Wear & Tear Parts , Filters , Collision Body , Starters & Alternators, Lighting Exhaust Components and Spark Plugs and Services (General Automotive Repairs and Automotive Transmission Repairs)) , By Vehicle Type (Passenger Car and Commercial Vehicles), and by Country (Malaysia, Indonesia, Philippines, Vietnam, Singapore, Thailand and Rest of ASEAN)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

The automotive aftermarket is the automotive industry market which includes equipment, replacement tires, service repair, collision, repair and accessories, etc. Companies operated in automotive aftermarket are manufacturing, remanufacturing, retailing, distribution, and installation of replacement vehicle parts, automotive accessories, service repair, and equipment. The automotive aftermarket deals with oil and lubricants, batteries, tires, filters, starters and alternators, coatings and paint consumables, exhaust components, spark plugs, crash parts, etc. There are interior and exterior accessories including audio/video devices, steering wheels, parking brake handles, shift boots, grills, headlight covers, front & rear guards, mirrors, etc. Consumers can repair their vehicles on their own with the DIY segments or can take the vehicle to professional repair facilities.

In 2021, Asean Automotive Aftermarket is estimated to reach US$ 57,057.4Mn in terms of value.

Market Dynamics

Increase in the average age of a vehicle is expected to boost growth of the ASEAN automotive aftermarket during the forecast period. Material and technology used for automotive manufacturing has improved from the past which increases the average age of vehicles. According to Coherent Market Insights’ analysis, in 2016, the number of vehicles on the road with an age range of 5-8 years was around 6 million in Thailand. According to the same source, the number of vehicles over 12 years old is expected to increase by 15% over the next five years globally. Moreover, the reliability of vehicles has improved substantially over the past decade. Consumers are not selling their vehicle instead of keeping old cars as second preferable vehicle. As a result of this, the age of vehicles is increasing, which, in turn, increases the demand for replacement parts, repairs, and maintenance. Thus, these factors are expected to drive the market's growth over the forecast period.

Furthermore, rising disposable income and increased vehicle parts sales are expected to propel the ASEAN automotive aftermarket forward during the forecast period. Disposable income in ASEA has increased significantly, and increased consumer expenditure on automotive parts is driving the growth of the market due to increased automotive sales. According to the Organization Internationale des Constructeurs d’Automobiles (OICA), the sales of passenger cars in Singapore increased from 17,197 units in 2012 to 43,423 units in 2016, while in the Philippines, the sales rose from 21,860 units in 2012 to 62,560 units in 2016. Therefore, these factors are expected to drive the market's growth in the near future.

Key features of the study:

• This report provides an in-depth analysis of the ASEAN automotive aftermarket and provides market size (US$ 28,450.2 million) and compound annual growth rate (CAGR 3%) for the forecast period (2022-2030), considering 2021 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the ASEAN automotive aftermarket based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered in the ASEAN automotive aftermarket include Bridgestone Corporation, ACDelco, Denso Corporation, Aisin Seiki Co., Ltd., Hella KGaA Hueck & Co., BorgWarner Inc., Robert Bosch GmbH, Continental AG, Magneti Marelli SpA, Delphi Automotive PLC, and Faurecia SA.
• These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
• The ASEAN automotive aftermarket report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the ASEAN automotive aftermarket.

Detailed Segmentation

• ASEAN Automotive Aftermarket, By Category Type:
• Accessories
• Interior
• Exterior
• Parts
• Lubricants
• Tires
• Batteries
• Wear & Tear Parts
• Filters
• Collision Body
• Starters & Alternators
• Lighting
• Exhaust Components
• Spark Plugs
• Services
• General Automotive Repairs
• Automotive Transmission Repairs
• ASEAN Automotive Aftermarket, By Vehicle Type:
• Passenger Cars
• Commercial Vehicles
• ASEAN Automotive Aftermarket, By Country:
• Malaysia
• Indonesia
• Philippines
• Vietnam
• Singapore
• Thailand
• Rest of ASEAN
• Company Profiles:
• Bridgestone Corporation
• Company Overview
• Product Portfolio
• Financial Performance
• Key Strategies
• Recent Developments
• Future Plans
• ACDelco, Denso Corporation,
• Aisin Seiki Co., Ltd.,
• Hella KGaA Hueck & Co.,
• BorgWarner Inc.,
• Robert Bosch GmbH,
• Continental AG,
• Magneti Marelli SpA,
• Delphi Automotive PLC,
• Faurecia SA.

“*” marked represents similar segmentation in other categories in the respective section.
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