Passenger Cars After Market Trends, Strategies, Size, Share And Analysis 2024-2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Passenger Cars After Market Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $318.38 billion In 2028 At A CAGR Of 4.8% :

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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Passenger Cars After Market Market Major Segments
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

Key Driver - Extended Car Lifespan Driving Growth In The Passenger Car Aftermarket Market

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.

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Prominent Trend - Revolutionizing The Passenger Car Aftermarket With 3D Printing Technology

The passenger car aftermarket market is using 3D printing technology also called Additive Manufacturing (AM) to make high-quality off-the-shelf car parts using 3D printers that are capable of printing in metals and alloys. 3D printing works by making a virtual 2D object in the software and constructing the 3D framework by using the printer. The use of 3D printing in producing automobile parts increases efficiency and raises the production standards of companies. Companies (original equipment manufacturers) such as General Motors, BMW, Ford, and Porsche have already started investing in this trend.

Passenger Cars After Market 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.

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the passenger car aftermarket market in 2023. North America was the second-largest region in the global passenger car aftermarket market share. The regions covered in the passenger cars after market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Passenger Cars After Market Market Report Structure
3. Passenger Cars After Market Market Trends And Strategies
4. Passenger Cars After Market Market - Macro Economic Scenario
5. Passenger Cars After Market Market Size And Growth
…..
27. Passenger Cars After Market Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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