Global Automotive Aftermarket Industry to exceed USD 680 billion by 2024 | 2018 Key Participants are Magneti Marelli, Continental, 3M, Akebone Brake, Delphi, Federal-Mogul, Denso, Robert Bosch, ACDElco, ASIMCO Technologies, Shandong Zhengnuo

Market Overview:-

Automotive Aftermarket Industry to exceed USD 680 billion by 2024; according to a new research report by Global Market Insights, Inc.

Shifting consumer preference towards vehicle comfort, enhancing efficiency and customization for aesthetically pleasant vehicles are the key factors driving the automotive aftermarket demand. Increasing vehicle wear and tear due to poor road infrastructure particularly in developing countries have led to more replacement parts consumption which will support the product penetration. Rise in average distance driven per vehicle has resulted in increasing requirement for maintenance encouraging vehicle parts replacements.

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Growing automotive industries coupled with rise in manufacturing facilities for vehicle parts will propel the market growth. Increasing preference for vehicle safety, comfort, periodic maintenance and improving efficiency will drive the revenue growth.

Shift in trend towards vehicle customization to enhance the vehicle function and aesthetic look among customers are the fuelling factor of the automotive aftermarket industry growth. Increasing vehicle wear & tear rates due to poor road constructions particularly in emerging economies has enhanced the demand for replacement parts.

Automotive Aftermarket Industry, By Product

• Replacement Parts:

1) Belt
2) Brakes
3) Clutch
4) Electrical parts
5) Lighting
6) Engine & AC Parts
7) Exhaust
8) Filters
9) Suspension
10) Transmission
11) Wiper parts
12) Others (Batteries, collision body, tires and wheels)

Top Key Players:-

The key players of global Automotive Aftermarket Industry are Continental AG, 3M Company, Akebone Brake corporation, Delphi, Federal-Mogul, Denso, Magneti Marelli, Robert Bosch, ACDElco, ASIMCO Technologies, Shandong Zhengnuo Group Co., Ltd., ALCO Filters and Cooper tire and rubber company.

Regional Segmentations:-

North America automotive aftermarket industry was valued more than USD 165 billion in 2015. Large presence of consumer base as well as manufacturing facilities will drive the business growth. Moreover, extensive research and development activities and rapid technological developments in the region will drive the product demand.

Europe, dominated by Germany, Russia and UK automotive aftermarket will witness growth over 4% up to 2024. Growing number of manufacturing and service outlets is likely to provide lucrative opportunities for market growth in the region. Stringent government regulations on fuel efficiency has increased the demand for maintenance and repairs among the customers.

Asia-Pacific, led by India and China was valued around USD 90 billion in 2015. The region is the fastest growing automotive aftermarket industry owing to increasing automotive sales coupled with rising population. High workforce, easy availability of land and economic resources will further foster the product scope.

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Major Points of Table Of Content:-

3. Automotive Aftermarket Industry Insights

3.1. Industry segmentation
3.2. Industry size and forecast, 2013 – 2024 (USD Million)
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Margin analysis
3.3.2.1. Manufacturer
3.3.2.2. Distributor
3.3.3. Distribution channel analysis
3.4. Technology & innovation landscape
3.5. Regulatory landscape
3.5.1. Vehicle parts standards
3.5.2. NHTSA regulations
3.5.2.1. China
3.5.2.1.1. The 11th Five-Year Plan
3.5.2.1.2. Vehicle emission regulations
3.5.2.2. U.S.
3.5.2.3. Germany
3.5.2.4. India
3.5.2.4.1. Contract manufacturing scenario
3.6. Global automotive industry overview
3.6.1. Major automotive trends
3.6.2. Advantages of manufacturing
3.6.2.1. OEM versus aftermarket
3.6.2.2. Opportunities
3.6.2.3. Service market overview
3.6.3. Vehicle parc (on road) statistics
3.6.3.1. Historical data 2006 – 2015
3.6.3.1.1. North America
3.6.3.1.2. Europe
3.6.3.1.3. APAC
3.6.3.1.4. LATAM
3.6.3.1.5. MEA
3.6.3.2. Estimated & forecast data 2016 – 2024
3.6.3.2.1. North America
3.6.3.2.2. Europe
3.6.3.2.3. APAC
3.6.3.2.4. LATAM
3.6.3.2.5. MEA
3.6.4. Collision statistics by country 2010 – 2016
3.6.4.1. U.S.
3.6.4.2. Canada
3.6.4.3. Germany
3.6.4.4. UK
3.6.4.5. Russia
3.6.4.6. China
3.6.4.7. India
3.6.4.8. Japan
3.6.4.9. Brazil
3.6.4.10. Mexico
3.6.4.11. South Africa
3.6.5. Insurance landscape
3.6.5.1.1. North America
3.6.5.1.2. Europe
3.6.5.1.3. APAC
3.6.5.1.4. LATAM
3.6.5.1.5. MEA
3.7. Trade statistics
3.7.1. Top 10 exporters
3.7.1.1. Export tariffs
3.7.2. Top 10 importers
3.7.2.1. Import tariffs
3.8. Global automotive aftermarket industry share by vehicle, 2015 & 2024
3.8.1. 0-5-year-old
3.8.2. 6-10-year-old
3.8.3. More than 10-year-old
3.9. Industry impact forces
3.9.1. Growth drivers
3.9.1.1. Demand drivers
3.9.1.2. Supply drivers
3.9.2. Industry pitfalls & challenges
3.10. Growth potential analysis
3.11. Porter's analysis
3.12. Competitive landscape, 2015
3.12.1. Strategic dashboard
3.13. PESTEL analysis

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Automotive aftermarket industry is led by replacement parts accounting for over USD 350 billion in 2015. These parts are used as replacement over original auto parts after wear & tear, damage or reduction in vehicle performance.

Professional channel dominates the market with market around USD 300 billion in 2015. Increased provision for the after-sale services offered by the auto manufacturer will fuel automotive aftermarket industry. Additional conveniences including pick & drop services, discounts on reliable & quality auto parts is driving the automotive aftermarket industry.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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