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US$ 1.4 Trillion Automotive Aftermarket Huge Growth & Trends In Future (2018-2024) | Top Companies – (Federal-Mogul, 3M, BASF, Lear Corporation, Hyundai MOBIS, Magna International, Toyota Motor, Bosch, Bridgestone, HELLA, Continental, Faurecia)

12-11-2018 08:56 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Automotive Industry

Automotive Aftermarket Industry

Automotive Aftermarket Industry

Automotive Aftermarket Industry size is estimated to surpass USD 1,420 billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing necessity for maintenance and scheduled servicing requirements for enhancing aging vehicles life will drive the automotive aftermarket industry. Growing customer expectations, ongoing technological innovation, and rising competition across automotive industry are the major factors fueling industry expansion. Increasing penetration of OEMs into aftermarket activities along with the consolidation of parts distributors will also provide a positive outlook for business development.

Get Sample Copy of This Report @ https://www.gminsights.com/request-sample/detail/1166

North America automotive aftermarket industry accounted for over 30% revenue share in 2017. This can be credited to the increasing new vehicles production coupled with enhanced performance of old vehicles. Ongoing technological innovation in the automotive sector will create new opportunities for aftermarket companies to grow globally. Increasing customization of vehicles, digitization, demand for Bluetooth devices, and other accessories driving automotive aftermarket industry in the U.S. and Canada. Improved fuel economy likely to increase the average miles driven by a customer. This has led to more wear and tear in vehicle parts, thus augmenting the demand for automotive aftermarket industry products.

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. Magneti Marelli SpA
9. Robert Bosch GmbH
10. Aisin Seiki
11. Coastal Corporation
12. Toyota
13. Magna International
14. Johnson Control, Inc.
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.

Make an Inquiry for purchasing this Report @ https://www.gminsights.com/inquiry-before-buying/1166

Professionals are estimated to hold a major share of automotive aftermarket industry; representing over 65% of the total demand. The rest of the demand is generated from OEMs and DIY. Professional includes quick lubes, garages & services, dealers, government services, commercial fleets, and other professional outlets. Consumer preference for economical services, closer to home advantage and personalized services likely to augment garages, service stations and automobile dealerships growth rate. Service quality, high quality parts and technical skills are the major factors propelling professional segment market size.

Increasing competition among automotive industry is driving the exponential development of online sales platform for automotive components. Manufacturers are expected to offer convenient shipping options, flexibility, and a seamless online experience to boost their product sales. Consumers are anticipated to compare products and prices before buying decision. Increased convenience coupled with no-cost ship-to-store pricing are the major factors supporting automotive aftermarket industry product sales.

Strong demand for automobiles from emerging economies is likely to favor automotive aftermarket industry growth. According to OICA, global LCVs and passenger cars registered sale over 86 million units in 2017, an increase by 2.4% than in 2016. The increase in demand was supported by the rapid expansion of global players in Asian countries majorly in China, India, Australia, and Indonesia. Moreover, rising eco-friendly techniques in automotive manufacturing owing to stringent environmental regulations resulting in a surge in alternative automotive parts demand.

Browse Report Summery @ https://www.gminsights.com/industry-analysis/automotive-aftermarket

The major automotive aftermarket industry players include Yazaki, Lear Corp., ALCO Filters, Magna International, 3M Company, Continental AG, and Denso Corporation. Other notable players include Copper Tire and Rubber Company, Akebone Brake Corporation, and Magneti Marelli. Industry participants are undergoing strategic collaborations to expand their regional presence. For instance, In December 2016, Faurecia announced its third joint-venture with its Iranian partners to strengthen its presence across the country.

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.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

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