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Automotive Performance Parts Market Insights by Growth, Emerging Trends and Forecast by 2016-2030
Automotive Performance Parts Market
Brake pads, air filters, spark plugs, and suspension bushings must all be changed on a regular basis. Longer-lasting autos present a tremendous opportunity for manufacturers of automotive performance parts since older cars require more maintenance and repairs, which increases the market for automotive performance components.
As a result, customers are preferring to keep their old cars as used cars rather than selling or junking them.
Fleet owners keep their vehicles up to date with maintenance to ensure maximum fuel efficiency. The growth of fleet aggregators is one of the key factors driving demand for automobile performance parts.
Sales of automotive performance parts are expected to increase as a result of the demand for features like better handling, more power, and better fuel economy from large fleet operators.
Automobiles and other purchases are being kept by customers for longer. But as equipment's lifespan lengthens, so does the need for replacement parts to repair its original, damaged portions. In addition, the average age of vehicles in the US has been rising over time. Though the likelihood of a component breaking has increased due to the car's longer lifespan, this has made the need of automotive performance parts necessary.
The market is expected to grow from 2022 to 2030 as a result of a number of factors, including increased consumer awareness of the importance of vehicle maintenance and repair to maintain their efficiency and performance. The demand for long-distance and crossover vehicles is also rising, which raises the necessity for regular maintenance and part replacement. The enhanced flexibility of vehicle design and manufacturing allows for greater client customization, which is anticipated to fuel market expansion during the projected period.
Digital platforms like social media are increasingly influencing how consumers conduct research and make purchases in both developed and developing nations. Online sales channels allow customers to easily obtain pricing details on components, and they use these channels to decide which auto parts to buy.
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Automotive Performance Parts Market - Segmentation
The automotive Performance Parts Market by Replacement parts is categorized into:
• Tire
• Battery
• Brake Parts
• Filters
• Body parts
• Lighting & Electronic Components
• Wheels
• Exhaust components
• Turbochargers
• Others
The automotive Performance Parts Market by Distribution channel is classified into:
Retailers
• OEMs
• Repair Shops
Wholesalers & Distributors
The automotive Performance Parts Market by service channel is segregated into:
• DIY (Do it Yourself)
• DIFM (Do it for Me)
• OE (Delegating to OEM's)
The automotive Performance Parts Market by certification is fragmented into:
• Genuine Parts
• Certified Parts
• Uncertified Parts
The Automotive Performance Parts Market - Key Market players
The major players in the market are:
• Tenneco Inc.
• Robert Bosch GmbH
• Continental AG
• BorgWarner Inc.
• Mahle GmbH
• Donaldson Company Inc.
• Holley Performance Products
• Mitsubishi Heavy Industries, Ltd.
• Honeywell International Inc.
• EXEDY Corporation
• Denso Corporation
• AISIN SEIKI Co., Ltd.
• Hitachi Astemo, Ltd.
• The NGK Spark Plug Co., Ltd.
• Cummins Inc.
• ZF Friedrichshafen AG
• Valeo
• TREMEC
• Hyundai Mobis
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Frequently Asked Questions
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