The Auto Parts Stores industry has been resilient during the recession, posting modest and steady growth. Weak labor and credit markets caused declines in new vehicles sales and, as a result, the average age of vehicles in operation increased. Older vehicles typically require more repairs, which boosts demand for industry products. Additionally, as disposable incomes fell during the recession, consumers chose to buy auto parts and make their own repairs rather than visit auto mechanics, further increasing sales. In 2014, a recovering economy will lead to higher incomes and more new car purchases, hurting demand for parts. An increase in commercial sales, however, will keep industry revenue stable over the next five years.
This industry is composed of establishments that do one or more of the following: sell new and used automotive parts and accessories, repair automobiles and install automotive accessories.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.