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Automotive Aftermarket 2018 Trends & Companies – BASF, 3M, Magna International, Magneti Marelli, Hyundai Mobis, Continental, Denso
Automotive Aftermarket
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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 Sales Outlet
• Professional
• Garages & Service Stations
• Automobile Dealerships
• Government
• Others
• DIY
• Discount Department Stores
• Auto Parts Stores
• OEM
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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Bridgestone Corporation
2. Denso Corporation
3. Hella KGaA Hueck & Co.
4. Continental AG
5. Delphi automotive PLC
6. ACDelco
7. Faurecia SA
8. Magnetic Marelli SpA
9. Robert Bosch GmbH
10. Aisin Seiki
11. Coastal Corporation
12. Toyota
13. Magna International
14. Johnson Controls
15. Hyundai Mobis
16. ALCO Filters
17. Yazaki
18. Lear Corp
19. BASF SE
20. Cooper Tire & Rubber Company
21. 3M Company
22. Akebone Brake Corporation
23. Federal Mogul Corporation
24. Shandong Zhengnuo Group Company
25. ASIMCO Technologies Ltd.
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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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Growing demand from replacement components, owing to more usage of older vehicles in Latin America will drive the product penetration. This is due to more than 50% of the vehicles in Mexico are older than 10 years.
Global automotive aftermarket industry is moderately fragmented owing to the presence of several local and international players. 3M, Delphi, Denso, Robert Bosch, ASIMCO, Akebone Brake Co, Magneti Marelli and Continental AG are some of the major industry players. Other notable participants include Federal Mogul, ALCO Filters and Cooper tires and Shandong Zhengnuo Group.
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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