Automotive Aftermarket Industry 2018 Global Market Statistics By Size, Share, Key Company - Aisin Seiki, Continental, Bosch, Valeo, 3M, Denso, Cooper Tire, Magneti Marelli, Sumitomo Electric, Aptiv, And Federal-Mogul

Automotive Aftermarket Continues to be an Important Vertical for the Global Automotive Sector. Market Research Future Published a Cooked Research Report on Global Automotive Aftermarket Market Research Report. Global automotive aftermarket is set to expand at 4.40% CAGR during the forecast period (2017-2023).

Get Sample Automotive Aftermarket Industry Global Market– Forecast to 2023 Report At: https://www.marketresearchfuture.com/sample_request/6251

With increased focus on high-quality and low-cost, OEMs are aggressively expanding their aftermarket activities. Over the years, the global automotive aftermarket has become more dynamic owing the growing level of competition. The market players are rapidly expanding in emerging markets in Asia and Latin America that were previously untapped.

The market has witnessed advancement in the recent years also due to continuous product innovation and increased collaboration activities. Most players are competing on fronts such as quality and cost, which is reflecting favourably on the overall growth of the market. The aforementioned factors are also helping the market players to strengthen their global market position. A huge number of companies currently operate in the automotive aftermarket, with large-sized players collectively commanding over the majority share of the market in terms of revenue. The strong grip of established companies and fierce competition is creating entry barriers for new player.

MRFR’s report offers a detailed segmental analysis of the market based on offering, channel, vehicle age, vehicle type and region. By offering, the market has been segmented into parts and services. Among these, the parts segment accounts for the largest market share and is likely to remain highly lucrative throughout the forecast period. By channel type, the market has segmented into authorized repair and independent repair. The authorized repair segments currently dominates the market and the trend is likely to continue in 2018 and beyond. By vehicle age, the market has been segmented into vehicles with 0-4 years, 4-8 years, and above 8 years. The 0-4 years segment is expected to remain a highly profitable and surge at a strong CAGR. By vehicle type, the market has been segmented into passenger vehicle and commercial vehicle. The former will continue to outperform the later throughout the assessment period.

On the basis of region, the global automotive aftermarket has been segmented into North America, Europe, Asia Pacific (APAC), and the Middles East & Africa (MEA). North America, led by the U.S. is expected to spearhead the global automotive aftermarket during the forecast period. In terms of revenue, North America currently accounts for more than half of the share of the global market. Countries such as the U.S. and Canada present significant opportunities for market players, therefore the region remains a prominent destination for investors.  The U.S. is home to some of the leading automotive aftermarket manufacturers, which also makes a major manufacturing hub of automotive aftermarket components. Europe is expected to maintain its second position in the global automotive aftermarket over 2023. Factors such as the increased demand for automotive aftermarket product and rising trend of reuse is supporting the growth of the market in the region. 

Browse more details on this report at: https://www.marketresearchfuture.com/reports/automotive-aftermarket-industry-6251

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact Us:

Market Research Future

Email: sales@marketresearchfuture.com

Phone: +1 646 845 9312

Office No. 528, Amanora Chambers Magarpatta Road.

This release was published on openPR.