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Automotive Aftermarket Growth Revenue Forecasts Study 2025

Automotive Aftermarket

Automotive Aftermarket

The Global Automotive Aftermarket by Accessories segment is projected to witness significant growth of around 7% over the projected time frame. This growth is attributed to the rising demand for vehicle customization across the globe. Availability of a wide range of accessories for enhancing the core aesthetics is supporting the segment growth over the projected time frame. The proliferating accessory packages offered as per the consumer requirements along with diversified interior modifying alternatives will enhance the automotive aftermarket business expansion.

Rising pollution levels, strict government regulations, and the implementation of eco-friendly techniques in automobile manufacturing are expected to catapult the automotive aftermarket industry to greater heights in the future. As per Global Market Insights, Inc., automotive aftermarket industry size is anticipated to cross USD 1,420 billion by 2024.

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North America is touted to be one of the most lucrative growth grounds for automotive aftermarket industry, primarily on account of the rising production levels of new automobiles in conjunction with the improved performance of older vehicles. Seemingly, North America accounted for a modest 30% of the overall automotive aftermarket industry share in the year 2017. Not to mention, the region is a hub of technological innovation in the automotive industry, that would come to generate novel growth opportunities for the aftermarket companies.

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.

Global automotive aftermarket industry share is dominated by a multitude of regional players. Key industry participants include ACDElco, Magneti Marelli, ASIMCO Technologies, Akebono Brake Corporation, Continental AG, Delphi, Denso, Robert Bosch, 3M Company, and Federal-Mogul. Other companies include ALCO Filters, BASF, Yazaki, Johnson Controls, Lear Corporation, and Magna International.

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As per Global Market Insights, Inc., professional sales outlets held a lucrative 65% of the total industry demand. Professional aftermarket services are inclusive of government services, garages & services, quick lubes, commercial fleets, dealers, and other professional outlets. One of the primary reasons for the growth of this segment of the rising consumer preference for cost-effective services and the advantage of being closer to home. The lure for customized, personalized services has also been augmenting the demand for service stations automobile dealerships, and garages. As the requirement for state-of-the-art service quality and technical expertise increases, not to mention, high quality parts and components, the growth of automotive aftermarket industry from professional sales outlets is bound to traverse alongside a profitable growth path.

North America is also remnant of rising demand for Bluetooth devices, customized vehicles, and digitization, apart from innovative accessories for luxury vehicles. With enhanced fuel economy, the average miles driven by consumers is bound to increase, thereby leading to more wear and tear in auto parts. This is expected to further fuel North America automotive aftermarket industry in the ensuing years.

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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
Web: www.gminsights.com

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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