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Wholesale and Distribution Automotive Aftermarket Market Size, Analysis, Trends, Overview And Forecast To 2033
Wholesale and Distribution Automotive Aftermarket Market
The Business Research Company offers in-depth market insights through Wholesale and Distribution Automotive Aftermarket Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The wholesale and distribution automotive aftermarket market size has grown strongly in recent years. It will grow from $224.35 billion in 2023 to $237.36 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to vehicle ageing population, increased vehicle ownership, extended vehicle lifespan, globalization of automotive production, e-commerce expansion.
The wholesale and distribution automotive aftermarket market size is expected to see strong growth in the next few years. It will grow to $304.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to electric and hybrid vehicle adoption, autonomous vehicle development, data analytics in maintenance, rise of mobility services, advanced materials in manufacturing. Major trends in the forecast period include product catalogs and SKU variety, predictive analytics for inventory management, private label and customized products, cross-border trading, mobile solutions for ordering.
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Market Segmentation:
The wholesale and distribution automotive aftermarket market covered in this report is segmented -
1) By Replacement Part: Tire, Battery, Brake parts, Filters, Body Parts, Lighting and Electronic Components, Wheels, Exhaust Components, Other Replacement Parts
2) By Certification: Genuine Parts, Certified Parts, Uncertified Parts
3) By Distribution Channel: Retailers, Wholesalers, Distributors
Major Driver - Automotive Industry Driving Forces Behind Wholesale And Distribution Automotive Aftermarket
The growing automotive industry is driving the wholesale and distribution automotive aftermarket market. The automotive industry comprises a diverse group of businesses and institutions engaged in the design, development, production, marketing, and sale of automobiles. Consumers' changing interest and preference motivates automobile manufacturers to manufacture various styles and lines of automobiles. Technological advancement and the rise in economic conditions also lead to growth in the automotive industry. Automotive aftermarket aids the automobile industry by providing the spare parts needed by the customers when they buy a new or existing automobile. For instance, in 2021, according to the Society of Indian Automobile Manufacturers (SIAM), a not-for-profit apex national body representing all primary vehicle and vehicular engines, the automotive industry produced a total of approximately 23 million vehicles from April 2021 to March 2022, including passenger cars, commercial trucks, three-wheelers, two-wheelers, and quadricycles, compared to approximately 22.6 million units from April 2020 to March 2021. Therefore, the growing automotive industry is expected to propel the growth of the wholesale and distribution automotive aftermarket market.
Competitive Landscape:
Major companies operating in the wholesale and distribution automotive aftermarket market report are Robert Bosch GmbH, Denso Corporation, ZF TRW Automotive Holdings Corp, Continental AG, Magna International Inc., Aisin Seiki Co Ltd., 3M Company, Sumitomo Electric Industries Ltd., Valeo SA, Lear Corporation, Lear Corp, The Goodyear Tire & Rubber Company, Eaton Corporation plc, Tenneco Inc., Faurecia SA, Schaeffler AG, TRW Automotive Holdings Corp, BorgWarner Inc., Delphi Automotive plc, Yazaki Corporation, JTEKT Corporation, Dana Incorporated, DRiV Incorporated, Federal-Mogul Corporation, Mahle GmbH, NTN Corporation, Brembo SpA, Visteon Corporation, Hella GmbH & Co KGaA, Magneti Marelli S.p.A., Schrader International Inc., Hitachi Automative Systems Ltd., Knorr-Bremse Co Ltd., Marelli Holdings Co Ltd., Panasonic Corporation
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Top Trend - Innovative Growth In Wholesale And Distribution Automotive Aftermarket Product Line
Major companies in the wholesale and distribution automotive aftermarket market are focused on developing innovative products, such as a new aftermarket product line, to better support their customers on the road with unsurpassed responsiveness and a compelling value proposition. For instance, in March 2021, Navistar, a US-based holding company that manufactures commercial and military trucks, diesel engines, and school and commercial buses, launched Diamond Advantage Diesel Parts, a new aftermarket product line for Class 2-5 diesel engines and engine components. This launch introduces a comprehensive aftermarket product line for Class 2-5 diesel engines, featuring high-quality components for major diesel engine models. Leveraging efficient distribution through parts distribution centers, a compelling value proposition, and a commitment to on-road customer support, Diamond Advantage is poised to significantly drive growth in the Wholesale and Distribution Automotive aftermarket by offering a superior and accessible solution to both customers and distributors.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Wholesale and Distribution Automotive Aftermarket Market Characteristics
3. Wholesale and Distribution Automotive Aftermarket Market Trends And Strategies
4. Wholesale and Distribution Automotive Aftermarket Market - Macro Economic Scenario
5. Wholesale and Distribution Automotive Aftermarket Market Size And Growth
…..
27. Wholesale and Distribution Automotive Aftermarket Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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