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Passenger Cars After Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Passenger Cars After Market
The Business Research Company presents an extensive market research report on the Passenger Cars After Market Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The passenger cars after market market size has grown strongly in recent years. It will grow from $250.68 billion in 2023 to $263.87 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to changing consumer preferences, vehicle longevity, economic factors, diy trend, regulatory changes.
The passenger cars after market market size is expected to see steady growth in the next few years. It will grow to $318.38 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to aging vehicle fleet, environmental awareness, customization trends, emerging markets, electric vehicles transition. Major trends in the forecast period include focus on sustainable and green products, diy (do-it-yourself) repair and maintenance, augmented reality (ar) for maintenance, increased demand for performance upgrades, retrofitting for autonomous features.
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Key Market Players:
Major companies operating in the passenger cars after market market report are Robert Bosch Gmbh, JTEKT Corporation, ZF friedrichshafen AG, Denso Corporation, Continental AG, Hyundai Mobis Co. Ltd., Aisin Corporation, 3M company, Bridgestone Corporation, Sumitomo Electric Industries Ltd., Valeo SA, Lear Corporation, Goodyear tire & rubber company, Eaton Corporation plc, Aptiv plc, Schaeffler Technologies AG & Co. KG, BorgWarner Inc., Mahle GmbH, Marelli Europe S.p.A., Federal -Mogul Corporation, Pirelli & C. S.p.A., Hella GmbH & Co. KGaA, American Axle & Manufacturing Inc., Gates Corporation, Kumho Tire Co. Inc., Cooper tire & Rubber Company, Exide Industries Ltd., Yazaki Corp., Akebono Brake Corporation Ltd., ACDelco, NSK Ltd.
Market Drivers:
Increasing the average lifespan of a car is one of the major drivers of the passenger car aftermarket market as it leads to an increase in consumers' regular maintenance and scheduled servicing of the vehicle. The lifespan of the car describes the maximum service life in terms of mileage and time. Changing wheels, batteries, spark plugs, and air filters play a significant role in prolonging the life of a vehicle. According to IHS automotive Markit in 2021, the typical age of cars on the road in the US increased to 12.1 years from 11.9 years old in 2020. Thus, increasing the average lifespan of a car is propelling a passenger car aftermarket market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/passenger-cars-after-market-global-market-report
The passenger cars after market market covered in this report is segmented -
1) By Type: Tires, Battery, Brake parts, Filters, Body parts, Lighting, Wheels, Exhaust components, Turbochargers, Other Types
2) By Certifiations: Genuine Parts, Certified Parts, Uncertified Parts
3) By Distribution Channel: Retailers (OEM's, Repiar Shops), Wholesalers & Distributors
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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