Press release
Automotive Aftermarket Market to reach USD 919.33 Bn by 2029, emerging at a CAGR of 6.2 percent and forecast 2023-2029
Automotive Aftermarket Market
The Automotive Aftermarket Market achieved a significant valuation of US$ 603.3 billion in 2022, with an anticipated growth rate of 6.2% from 2023 to 2029. By 2029, the market is projected to reach a remarkable value of nearly US$ 919.33 billion.
Maximize Market Research Pvt Ltd, a leading market research firm, has released an in-depth report on the Automotive Aftermarket Market. The report encompasses a detailed analysis of market dynamics, trends, drivers, restraints, and regional insights, providing stakeholders with comprehensive information for informed decision-making.
The research methodology employed by Maximize Market Research Pvt Ltd involves a thorough examination of market trends, statistical analysis, and in-depth interviews with industry experts. The robust methodology ensures the accuracy and reliability of the data presented in the report.
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Automotive Aftermarket Market Dynamics:
The report highlights the constant increase in automotive production globally as a major driver for market growth. Additionally, the growing preference for innovative accessories and components, coupled with increased spending capacity on vehicle modifications, is expected to drive the global automotive aftermarket's expansion.
Concerns such as the high maintenance costs of accessories, the demand for electric vehicles, and strict emissions requirements are identified as potential challenges that could restrict market growth.
Automotive Aftermarket Market Regional Insights:
Asia Pacific is expected to witness significant growth, driven by technological advancements, increased vehicle production, and the digitization of automotive component delivery services. North America and Europe are also anticipated to experience substantial growth in the automotive aftermarket sector.
In 2022, Asia Pacific dominated the market, accounting for 28.0% of revenue, with significant growth anticipated in the forecast period. North America is projected to be worth over USD 180 billion in 2022, driven by increased vehicle manufacturing and upgrades to older vehicles.
The report highlights key trends in the automotive aftermarket, including the digitization of distribution channels, the increasing popularity of spare part replacement, and the rising sales through OEM factory fill. Furthermore, the report identifies the dominance of Europe in the aftermarket, accounting for 30% of the market share in 2022.
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Automotive Aftermarket Market Segmentation:
The market is segmented into Vehicle Replacement Part, Distribution Channel, and Service Channel. Retailers dominate the distribution channel, holding a 57.2% share in 2022, with the retail segment expected to continue dominating the industry by 2029.
by Vehicle Replacement Part
Tire
Battery
Brake Parts
Filters
Others
by Distribution channel
Retailers
Wholesalers
by Service
DIY
DIFM
OE
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Automotive Aftermarket Market Key Players:
1.Continental AG
2.3M Company
3.Akebone Brake Corporation
4.Delphi
5.Federal-Mogul
6.Denso
7.Magneti Marelli
8.Robert Bosch
9.ACDElco
10.ASIMCO Technologies ltd
11.Cooper Tire & Rubber Company
12.HELLA KGaA Hueck & Co.
13.Robert Bosch GmbH
14.Valeo Group
15.ZF Friedrichshafen AG
16.Robert Bosch GmbH
17.Magna International Inc.
18.Aisin Seiki Co.
19.Hyundai Mobis
20.Lear Corp.
21.Faurecia
Get to Know More About This Market Study:https://www.maximizemarketresearch.com/market-report/automotive-aftermarket-market/13057/
Table of content for the Automotive Aftermarket Market includes:
1. Global Automotive Aftermarket Market: Research Methodology
2. Global Automotive Aftermarket Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3.Global Automotive Aftermarket Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
4 . Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape (2022 to 2029)
Past Pricing and price curve by region (2022 to 2029)
Market Size, Share, Size and Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by growth and trend
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
Contact Maximize Market Research:
MAXIMIZE MARKET RESEARCH PVT. LTD.
⮝ 444 West Lake Street, Floor 17,
Chicago, IL, 60606, USA.
✆ +1 800 507 4489
✆ +91 9607365656
🖂 mailto:sales@maximizemarketresearch.com
🌐 https://www.maximizemarketresearch.com
About Maximize Market Research:
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of the majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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