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Motor Vehicle And Parts Dealers Market Industry Analysis, Size, Share, Trends, Growth and Forecast 2024 - 2032
Motor Vehicle And Parts Dealers Global Market
The Business Research Company's Motor Vehicle And Parts Dealers Global Market Report 2024 identifies The increasing sales of vehicles as the major driver for the Motor Vehicle And Parts Dealers market's growth in the forecast period. Vehicle sales refer to the process of selling automobiles, which can include cars, trucks, vans, and other types of motor vehicles, to consumers or businesses. Motor vehicle parts are integral to the vehicle sales process, from manufacturing and customization to maintenance, safety, and regulatory compliance.
The motor vehicle and parts dealers market size has grown strongly in recent years. It will grow from $4,935.17 billion in 2023 to $5,323.65 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to economic conditions, technological advancements, interest rates, consumer preferences, environmental regulations.
The motor vehicle and parts dealers market size is expected to see strong growth in the next few years. It will grow to $7,074.73 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to electric vehicles (evs), digital sales and service, autonomous vehicles, sustainability and green initiatives, shared mobility, innovation in automotive retail. Major trends in the forecast period include online sales and digital showrooms, autonomous and connected vehicles, sustainability and green initiatives, increased emphasis on safety features.
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Major competitors in the Motor Vehicle And Parts Dealers market are Penske Automotive Group Inc., AutoNation Inc., CarMax Inc., AutoZone Inc., Lithia Motors Inc., O'Reilly Automotive Inc., Group 1 Automotive Inc., Jardine Cycle & Carriage Limited, Advance Auto Parts Inc.
A key trend in the Motor Vehicle And Parts Dealers market includes adopting a robust and cohesive strategy for data analytics in management. his technology is being deployed to enhance supply chain efficiency, streamline operations to engage customers, and build loyalty. Data has become critical for most retail operations. With the rapid growth in retail data and the availability of technologies to analyze data, it would become easier for motor vehicle and parts dealers to identify and meet the needs and expectations of their customers. This is expected to drive the market going forward.
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The Motor Vehicle And Parts Dealers market is segmented -
1) By Type: Auto Parts And Accessories, Automobile Dealers, Other Motor Vehicle Dealers
2) By Ownership: Retail Chain, Independent Retailer
3) By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Motor Vehicle And Parts Dealers market.
The Business Research Company's "Global Motor Vehicle And Parts Dealers Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Motor Vehicle And Parts Dealers Market Include:
1. Executive Summary
2. Motor Vehicle And Parts Dealers Market Characteristics
3. Motor Vehicle And Parts Dealers Product/Service Analysis -Product/Service Examples
4. Motor Vehicle And Parts Dealers Market Trends And Strategies
5. Motor Vehicle And Parts Dealers Market - Macro Economic Scenario
……
68. Global Motor Vehicle And Parts Dealers Market Competitive Benchmarking
69. Global Motor Vehicle And Parts Dealers Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Motor Vehicle And Parts Dealers Market
71. Motor Vehicle And Parts Dealers Market Future Outlook and Potential Analysis
72. Appendix
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