Global Automotive Aftermarket Market is segmented further based on Replacement Parts, Distribution Channel, Service Channel, Certification, and Geography, IGR Competitive Analysis, Impact of Covid-19, Ansoff Analysis
The Global Automotive Aftermarket Market is estimated to be USD 240.5 Bn in 2021 and is expected to reach USD 343.67 Bn by 2026, growing at a CAGR of 7.4 %.
The leading factor that is expected to drive the global automotive aftermarket market is the escalating inclination by consumers to change OEM parts to enhance the execution of various vehicle systems & elements such as audio system engines and power delivery. Automotive components & systems need to be changed after some months or years. The automotive industry consists of tires, windshields, oils, and braking components. These are the foremost and common alternate components. Most of these products are accessible in the automotive aftermarket. The ownership of new vehicles has been lifted by rising in the per capita income of the populace globally. Hence, it makes substantial opportunities for automotive aftermarket industry players to accommodate the rising number of automotive consumers. Automotive makers face several limitations while carrying out their industrial processes. Manufacture cost is one of these constrictions. And the concerns about R&D expenses are likely to hinder the market growth over the forecast period.
The Global Automotive Aftermarket Market is segmented further based on Replacement Parts, Distribution Channel, Service Channel, Certification, and Geography.
By Replacement Parts, the market is classified as tire, battery, brake parts, filters, body parts, lighting & electronic components, wheels, exhaust components, turbochargers, and others. Amongst all, the battery segment is estimated to hold the highest market share during the forecast period.
By Distribution Channel, the market is classified as wholesalers & distributors, and retailers. Amongst the two, the wholesalers & distributors segment is estimated to hold the highest market share during the forecast period.
By Service Channel, the market is classified as DIY (do it yourself), DIFM (do it for me), and OE (delegating to OEMs). Amongst all, the DIFM (do it for me) segment is estimated to hold the highest market share during the forecast period.
By Certification, the market is classified as genuine parts, certified parts, and uncertified parts. Amongst all, the certified parts segment is estimated to hold the highest market share during the forecast period.
By Geography, North America is projected to lead the market.
1. Carparts.Com Launches First Ev, Hybrid-Focused Shopping Hub. – 29th Jan 2021.
2. American Axle & Manufacturing And REE Automotive To Jointly Develop New Electric Propulsion System For e-Mobility. – 9th May 2021.
Some of the companies covered in this report are Johnson Controls Inc., Kumho Tires Co. Inc., Pirelli & C. S.p.A., Prestone Products Corporation, Robert Bosch GmbH, Tenneco Inc., Valeo Group, etc.
IGR Competitive Quadrant
The report includes IGR Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report
?The report offers a comprehensive evaluation of the Global Automotive Aftermarket Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
The report also contains the competitive analysis using IGR Positioning Quadrants, Infogence's Proprietary competitive positioning tool.
A complete analysis of the market, including parent industry
Important market dynamics and trends
Historical, current, and projected size of the market based on value and volume
Market shares and strategies of key players
Recommendations to companies for strengthening their foothold in the market
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