Automotive Aftermarket Market Overview
The global Automotive Aftermarket market is expected to rise at a considerable rate in the estimated period. The growing demand for automobiles in emerging markets is expected to boost industry growth. Due to numerous environmental requirements, technological advancements, and the adoption of various eco-friendly techniques in vehicle production are expected to increase demand for alternative automotive parts.
The market demand is projected to be boosted by a movement in consumer preferences to upgrade old cars with new technologies. The growing popularity of connectivity/telematics, ADAS, info-, and entertainment systems among the younger generation is boosting the market growth. The growing competition in the automobile industry is propelling the rapid growth of online automotive component sales platforms. For the best purchasing decision, online portals provide product and price comparisons. The convenience of online buying, along with no-cost ship-to-store price, is the primary driver of aftermarket product sales.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Product, Sales Outlet, and Region. |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | 3M, Robert Bosch GmbH, Denso Corporation, Continental AG, Hyundai Mobis Co., Ltd., ACDelco, Lear Corporation, ALCO Filters Ltd., Akebono Brake Corporation, Aisin Seiki, Toyota Motor Corporation, Delphi Automotive PLC. |
Covid-19 Impact on Automotive Aftermarket Market
The outbreak of the covid-19 has a severe and swift impact on the automobile and transportation industry. This is majorly due to the shutdown of assembly plants in the US, interruptions across Europe in large-scale manufacturing, and disruption in the export of Chinese parts. In addition to this, the industry is dealing with reduced demand across the globe due to changes in customer behavior and shifts in a supply-demand chain. A recent study shows a 39% decline in sales of automotive all over the world. Moreover, the nationwide lockdowns have substantially affected the transportation sector. Restrictions on transportation accounted for a 45 to 55% decline in public as well as private transport sectors.
Automotive Aftermarket Market Segment Overview
Based on the Product, Replacement parts is the most prominent segment in the market. Because of the increased demand for maintenance and services as a result of poor road conditions and vehicle ageing, aftermarket components will see a bright future. Low production costs, an increase in the number of manufacturers, and an increase in the frequency of accidents are boosting market revenue.
Automotive Aftermarket Market, By Product
- Replacement parts
- Belt
- Brakes
- Clutch
- Electrical parts
- Lighting
- Engine & AC parts
- Exhaust
- Filters
- Suspensions
- Transmission
- Wiper parts
- Others
- Accessories
- Car exteriors
- Car interiors
Automotive Aftermarket Market, By Sales Outlet
- Professional
- Quick lubes
- Garages & service stations
- Automobile dealerships
- Government
- Commercial fleets & other professional outlets
- DIY
- Discount department stores
- Auto parts stores
- OEM Factory fill
Automotive Aftermarket Market Regional Overview
Geographically, Asia Pacific is one of the major regions for the global Automotive Aftermarket market. The regional market penetration is being boosted by an increase in the sales of electric, hybrid, and gas-powered vehicles, leading to a shift in consumer preference toward energy-efficient automobiles. The market statistics are being driven by car digitization and personalization, as well as rising demand for Bluetooth devices and other electronic accessories. North America is another main region for the market. This is due to an increase in the manufacture of new cars, as well as the upgrading of older vehicles that are still in use. The ongoing technological advancements in the automotive industry are likely to provide chances for aftermarket companies to expand their global business.
Automotive Aftermarket Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Automotive Aftermarket Market, Key Players
· 3M
· Robert Bosch GmbH
· Denso Corporation
· Continental AG
· Hyundai Mobis Co., Ltd.
· ACDelco
· Lear Corporation
· ALCO Filters Ltd.
· Akebono Brake Corporation
· Aisin Seiki
· Toyota Motor Corporation
· Delphi Automotive PLC.
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the Automotive Aftermarket market?
The growing demand for automobiles in emerging markets is expected to boost industry growth
Q2. Which Segments are covered in the Automotive Aftermarket Market report?
Product, Sales Outlet, and Region. these segments are covered in the Automotive Aftermarket market report.
Q3. Which segment is projected to hold the largest share in the Automotive Aftermarket Market?
The replacement parts segment is projected to hold the largest share in the Automotive Aftermarket Market.
Q4. Which region holds the largest share in the Automotive Aftermarket market?
the Asia Pacific held the largest share in the global Automotive Aftermarket market
Q5. Which are the prominent players in the Automotive Aftermarket Market?
3M, Robert Bosch GmbH, Denso Corporation, Continental AG, Hyundai Mobis Co., Ltd., ACDelco, Lear Corporation, ALCO Filters Ltd., Akebono Brake Corporation, Aisin Seiki, Toyota Motor Corporation, Delphi Automotive PLC. are some key players in the Automotive Aftermarket Market
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Automotive Aftermarket Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product
- 5.2.1. Replacement parts
- 5.2.1.1. Belt
- 5.2.1.2. Brakes
- 5.2.1.3. Clutch
- 5.2.1.4. Electrical parts
- 5.2.1.5. Lighting
- 5.2.1.6. Engine & AC parts
- 5.2.1.7. Exhaust
- 5.2.1.8. Filters
- 5.2.1.9. Suspensions
- 5.2.1.10. Transmission
- 5.2.1.11. Wiper parts
- 5.2.1.12. Others
- 5.2.2. Accessories
- 5.2.2.1. Car exteriors
- 5.2.2.2. Car interiors
- 5.2.1. Replacement parts
- 5.3.1. Professional
- 5.3.1.1. Quick lubes
- 5.3.1.2. Garages & service stations
- 5.3.1.3. Automobile dealerships
- 5.3.1.4. Government
- 5.3.1.5. Commercial fleets & other professional outlets
- 5.3.2. DIY
- 5.3.2.1. Discount department stores
- 5.3.2.2. Auto parts stores
- 5.3.3. OEM Factory fill
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Automotive Aftermarket Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Product
- 6.2.1. Replacement parts
- 6.2.1.1. Belt
- 6.2.1.2. Brakes
- 6.2.1.3. Clutch
- 6.2.1.4. Electrical parts
- 6.2.1.5. Lighting
- 6.2.1.6. Engine & AC parts
- 6.2.1.7. Exhaust
- 6.2.1.8. Filters
- 6.2.1.9. Suspensions
- 6.2.1.10. Transmission
- 6.2.1.11. Wiper parts
- 6.2.1.12. Others
- 6.2.2. Accessories
- 6.2.2.1. Car exteriors
- 6.2.2.2. Car interiors
- 6.2.1. Replacement parts
- 6.3.1. Professional
- 6.3.1.1. Quick lubes
- 6.3.1.2. Garages & service stations
- 6.3.1.3. Automobile dealerships
- 6.3.1.4. Government
- 6.3.1.5. Commercial fleets & other professional outlets
- 6.3.2. DIY
- 6.3.2.1. Discount department stores
- 6.3.2.2. Auto parts stores
- 6.3.3. OEM Factory fill
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Automotive Aftermarket Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Product
- 7.2.1. Replacement parts
- 7.2.1.1. Belt
- 7.2.1.2. Brakes
- 7.2.1.3. Clutch
- 7.2.1.4. Electrical parts
- 7.2.1.5. Lighting
- 7.2.1.6. Engine & AC parts
- 7.2.1.7. Exhaust
- 7.2.1.8. Filters
- 7.2.1.9. Suspensions
- 7.2.1.10. Transmission
- 7.2.1.11. Wiper parts
- 7.2.1.12. Others
- 7.2.2. Accessories
- 7.2.2.1. Car exteriors
- 7.2.2.2. Car interiors
- 7.2.1. Replacement parts
- 7.3.1. Professional
- 7.3.1.1. Quick lubes
- 7.3.1.2. Garages & service stations
- 7.3.1.3. Automobile dealerships
- 7.3.1.4. Government
- 7.3.1.5. Commercial fleets & other professional outlets
- 7.3.2. DIY
- 7.3.2.1. Discount department stores
- 7.3.2.2. Auto parts stores
- 7.3.3. OEM Factory fill
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Automotive Aftermarket Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Product
- 8.2.1. Replacement parts
- 8.2.1.1. Belt
- 8.2.1.2. Brakes
- 8.2.1.3. Clutch
- 8.2.1.4. Electrical parts
- 8.2.1.5. Lighting
- 8.2.1.6. Engine & AC parts
- 8.2.1.7. Exhaust
- 8.2.1.8. Filters
- 8.2.1.9. Suspensions
- 8.2.1.10. Transmission
- 8.2.1.11. Wiper parts
- 8.2.1.12. Others
- 8.2.2. Accessories
- 8.2.2.1. Car exteriors
- 8.2.2.2. Car interiors
- 8.2.1. Replacement parts
- 8.3.1. Professional
- 8.3.1.1. Quick lubes
- 8.3.1.2. Garages & service stations
- 8.3.1.3. Automobile dealerships
- 8.3.1.4. Government
- 8.3.1.5. Commercial fleets & other professional outlets
- 8.3.2. DIY
- 8.3.2.1. Discount department stores
- 8.3.2.2. Auto parts stores
- 8.3.3. OEM Factory fill
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Automotive Aftermarket Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Product
- 9.2.1. Replacement parts
- 9.2.1.1. Belt
- 9.2.1.2. Brakes
- 9.2.1.3. Clutch
- 9.2.1.4. Electrical parts
- 9.2.1.5. Lighting
- 9.2.1.6. Engine & AC parts
- 9.2.1.7. Exhaust
- 9.2.1.8. Filters
- 9.2.1.9. Suspensions
- 9.2.1.10. Transmission
- 9.2.1.11. Wiper parts
- 9.2.1.12. Others
- 9.2.2. Accessories
- 9.2.2.1. Car exteriors
- 9.2.2.2. Car interiors
- 9.2.1. Replacement parts
- 9.3.1. Professional
- 9.3.1.1. Quick lubes
- 9.3.1.2. Garages & service stations
- 9.3.1.3. Automobile dealerships
- 9.3.1.4. Government
- 9.3.1.5. Commercial fleets & other professional outlets
- 9.3.2. DIY
- 9.3.2.1. Discount department stores
- 9.3.2.2. Auto parts stores
- 9.3.3. OEM Factory fill
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. 3M
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Robert Bosch GmbH
- 10.6. Denso Corporation
- 10.7. Continental AG
- 10.8. Hyundai Mobis Co., Ltd.
- 10.9. ACDelco
- 10.10. Lear Corporation
- 10.11. ALCO Filters Ltd.
- 10.12. Akebono Brake Corporation
- 10.13. Aisin Seiki
- 10.14. Toyota Motor Corporation
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
