Press release
Automotive AfterMarket : Infotainment and Multimedia, Engine Component, Tires and Wheels By Application 2021-2031
The electrical products segment to maintain its lead position during the forecast period
Based on application, the electrical products segment accounted for the highest market share in 2021, contributing to nearly one-fourth of the global automotive aftermarket, and is projected to maintain its lead position during the forecast period. Moreover, this segment is estimated to witness the largest CAGR of 7.6% from 2022 to 2031. This is due to customer inclination toward advanced electronic accessories, safety, and convenience features. The report also analyzes the segments including infotainment and multimedia, engine component, tires and wheels, seat and steering covers, and others.
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The third party vendors segment to maintain its dominant share during the forecast period
Based on distribution, the third party vendors segment contributed to the highest market share in 2021, accounting for nearly three-fourths of the global automotive aftermarket, and is expected to maintain its dominant share during the forecast period. This segment is also projected to manifest the largest CAGR of 6.6% from 2022 to 2031. This is attributed to shift of customers toward e-commerce platform for convenience in buying experience and fast delivery. The report also analyzes the OEM segment.
The passenger car segment to continue its dominance during the forecast period
Based on vehicle type, the passenger car segment held the highest market share in 2021, contributing to more than two-fifths of the global automotive aftermarket, and is expected to continue its dominance during the forecast period. In addition, this segment is projected to register the largest CAGR of 7.0% during the forecast period. This is due to rise in adoption of the smart technologies in passenger cars. The report also discusses segments including two wheeler and commercial vehicle.
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The external accessories segment held the highest market share in 2021
Based on position, the external accessories segment held the highest market share in 2021, accounting for more than half of the global automotive aftersales market. However, the internal accessories segment is projected to register the highest market share in terms of revenue by 2031. In addition, this segment is projected to register the largest CAGR of 7.4% from 2022 to 2031, owing to increase in demand for aesthetic appearance in vehicles.
Asia-Pacific to maintain its lead status by 2031
Based on region, Asia-Pacific contributed to the highest market share in 2021, holding more than one-third of the global automotive aftermarket, and is expected to maintain its lead status by 2031. Moreover, this region is projected to grow at the fastest CAGR of 6.9% from 2022 to 2031. This is due to the presence of large passenger car fleet across the region and rise in involvement of original equipment manufacturers. The research also analyzes regions including North America, Europe, and LAMEA.
Leading Players
Alpine Electronics
Bridgestone Corporation
Continental
DENSO Corporation
Ford Motor Company
HARMAN International
Hella KGaA Hueck & Co.
Hyundai Mobis
Michelin
Osram Licht AG
Panasonic Corporation
Pioneer Corporation
Robert Bosch GmbH
The Goodyear Tire & Rubber Company
The Yokohama Rubber Co. Ltd.
Visteon
Auto Zone
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Similar Repots We Have on AfterMarket Industry:
Passenger Car Accessories Aftermarket - https://www.alliedmarketresearch.com/passenger-car-accessories-aftermarket-market-A06108
Aftermarket Electric Vacuum Pump Market - https://www.alliedmarketresearch.com/aftermarket-electric-vacuum-pump-market-A07967
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