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Surge in Growth Foreseen for Global Automotive Aftermarket: Insights into Market Size, CAGR, Drivers, and Trends
Automotive Aftermarket Size
A comprehensive analysis of the booming Automotive Aftermarket, projecting significant growth and diversification owing to growing vehicle ownership and DIY maintenance culture.
What Is The Projected Market Size Of The Global Automotive Aftermarket Market And Its Growth Rate?
The Dynamics of the Automotive Aftermarket show rapid growth due to multiple factors:
- The market size jumped significantly from $464.1 billion in 2024 to $533.87 billion in 2025, with a CAGR of 15%.
- This growth in the historic period can be attributed to global vehicle ownership growth, rise in independent repair shops, vehicle customization trends, and changing regulations.
- Foreseeing the future, it is anticipated to reach $831.84 billion in 2029 at a CAGR of 11.7% driven by service-oriented offerings, adoption of advanced materials, digital transformation, vehicle electrification, and sustainability.
What Is Driving The Growth In The Automotive Aftermarket Market?
Increased sales of pre-owned and new vehicles are propelling the growth of the automotive aftermarket market. According to the UK Government, registration of vehicles for the first time in 2023 saw a 16% increase from 2022. Additionally, the rise in both licensed and zero-emission vehicles indicates a growing market for automotive aftermarket services. This trend, coupled with the increased consumer preference for new and pre-owned vehicles, is driving the demand in the automotive aftermarket sector.
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Who Are the Key Players Driving Automotive Aftermarket Market Growth?
Noteworthy enterprises leading the charge in the automotive aftermarket market include:
- Royal Dutch Shell PLC
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- Denso Corporation
- Continental AG
- Magna International Inc., and many more.
What Are The Key Trends In The Automotive Aftermarket Market?
Identified key trends fuelling the market growth are:
- Rise in vehicle age
- Shift in consumer preference
- Increasing environmental awareness and demand for sustainable products
- Growing demand for vehicle accessories
- Innovation in replacement parts
What Are The Segments Of The Global Automotive Aftermarket Market?
The Automotive Aftermarket is segmented as per:
- Types: Tire, Battery, Brake Parts, Filters, Body Parts, Lighting And Electronic, Wheels, Exhaust Components, Turbochargers
- Vehicle Type: Passenger Cars, Commercial Vehicles
- Certification Outlook: Genuine Parts, Certified Parts, Uncertified Parts
- Distribution Channels: Offline Distribution Channel, Online Distribution Channel
Which Region Leads The Automotive Aftermarket Market?
The Asia-Pacific region was the largest in the Automotive Aftermarket in 2024 and is projected to be the fastest-growing region in the forecast period. The industries covered in the Automotive Aftermarket report span Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Automotive Aftermarket Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Aftermarket Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Aftermarket Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Aftermarket Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Aftermarket Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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