Press release
Automotive Aftermarket 2018 Global Industry Size, Trends, Share, Size Analysis And Forecast To 2023
Automotive Aftermarket Global Market Key Companies Analyzed In Report Are:
Aisin Seiki Co., Ltd. (Japan), Continental AG (Germany), Robert Bosch GmbH (Germany), Valeo (France), 3M (U.S.), Denso Corporation (Japan), Cooper Tire & Rubber Company (U.S.), Magneti Marelli S.p.A. (Italy), Sumitomo Electric Industries Ltd. (Japan), Aptiv PLC (U.K.), Federal-Mogul Corporation (U.S.).
Get Sample Copy Of “Automotive Aftermarket Market Research - Global Forecast to 2023” Of 100 pages Report at: https://www.marketresearchfuture.com/sample_request/6251
Automotive Aftermarket Global Market Highlights:
The global automotive aftermarket is anticipated to witness a CAGR of 4.40% during the forecast period of 2017 to 2023. This projects consistent growth for the market. Valued at USD 824.82 Bn in 2017 and is expected to grow to reach an approximate value of USD 1,023.4 Bn by the end of 2023.
The global automotive aftermarket is currently valued at over USD 800 Bn. It is expected to capture a steady CAGR during the review period (2017-2023). OEMs are finding new opportunities in regions such as Asia Pacific (APAC), Latin America and the Middle East. The automotive industry is witnessing a shift from advanced economies to emerging markets. Sales remain moderate in Europe and North America while countries such as China, Mexico and India are being viewed as new pockets of growth for the automotive industry. These countries are an attractive prospect for both new car sales and aftermarket business. For many carmakers, aftermarket business is a key focus area as it allows creation of attractive revenues and profit margins. Fast-developing countries hold significant potential for aftermarket business, as reuse and refurbishing remain a prominent trend in such counties. By the year 2023, the market is likely to surpass a valuation of USD 1,000 Bn.
Automotive Aftermarket Market Growth Factors and Restraints:
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 favorably on the overall growth of the market. The 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.
The authorized repair segments currently dominate 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.
Regional Analysis:
North America accounts for the most significant region in the automotive aftermarket and is closely followed by Europe and the Asia Pacific. With over a third of the global share, North America is a major contributor to the market with high sales of premium and luxury vehicles which require careful maintenance and upkeep. Moreover, the region possesses a large number of prominent manufacturers, existing aftermarket infrastructure and an affinity toward the adoption of advanced technologies which is driving demand and consequently the growth of the automotive aftermarket.
Market Segments Analysis:
The global automotive aftermarket is segmented on the basis of offering, channel type, vehicle age, vehicle type, and region. By offering, the market is segmented into parts and services. The parts segment share accounts for over 50% of the total market and is expected to display the highest CAGR during the forecast period. Parts include tires, brake parts, battery, body & other component parts which have high sales and high demand in the aftermarket due to the upkeep required to ensure these components are functioning at optimally.
REPORT CONTENT:
CHAPTER 1. METHODOLOGY AND SCOPE
1.1. RESEARCH METHODOLOGY
1.1.1. INITIAL DATA EXPLORATION
1.1.2. STATISTICAL MODELING AND FORECAST
1.1.3. INDUSTRY INSIGHTS AND VALIDATION
1.2. DATA SOURCES
CHAPTER 2. EXECUTIVE SUMMARY
2.1. AUTOMOTIVE AFTERMARKET INDUSTRY 3600 SYNOPSIS, 2012 – 2023
2.1.1. BUSINESS TRENDS
2.1.2. COMPONENT TRENDS
2.1.3. VEHICLE TYPE TRENDS
CHAPTER 3 AUTOMOTIVE AFTERMARKET INDUSTRY INSIGHTS
3.1 INDUSTRY SEGMENTATION
3.2 INDUSTRY SIZE AND FORECAST
3.3 INDUSTRY ECOSYSTEM ANALYSIS
3.4 INDUSTRY IMPACT FORCES
3.4.1 GROWTH DRIVERS
3.5 GROWTH POTENTIAL ANALYSIS
3.6 COMPANY MARKET SHARE ANALYSIS, 2015
3.7 PORTER’S ANALYSIS
3.8 PESTEL ANALYSIS
Browse more details on report at: https://www.marketresearchfuture.com/reports/automotive-aftermarket-industry-6251
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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.
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