Press release
Automotive Wholesale and Distribution Aftermarket Market is Forecast to Reach Approximately US$ 483.29 Billion by 2034 with a CAGR of 38.3%
Automotive Wholesale and Distribution Aftermarket Market
Market Overview:
The automotive wholesale and distribution aftermarket is the secondary parts market of the automotive industry connected with the making, remanufacturing, dissemination, retailing, and positioning of all vehicle components, chemicals, instruments, and additions subsequent to the sale of automobiles by the original equipment manufacturer (OEM) to the consumer.
The aftermarket encloses components for replacement, impact, advent, and presentation. The aftermarket offers a broad gamut of components of differing standards and prices for almost all vehicle makes and models. Consumers have the alternative of mending the vehicles on their own or can get it done in a skilled repair space.
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Automotive Wholesale and Distribution Aftermarket Market Drivers:
E-commerce, determined by the proliferation of buying and disbursing, has notably modified the retail ambiance. In the automotive aftermarket industry, e-commerce plays an important part in setting up linkages between suppliers and consumers, smoothening the supply chain, and pledging an extensive choice of automobile commodities is effortlessly attainable, driving up the automotive wholesale and distribution aftermarket market sales.
The automotive industry provides an assortment of car types and styles to serve varied consumer liking. This industry, which involves a wide gamut of firms that outline, advance, make, market, and disburse automobiles, is surging due to technological inventions and speedy economic augmentation in surfacing nations.
Major Players:
The spearheading contenders are initiating progressive components to serve the growing demand from consumers.
Key manufacturers operating in the market are:
• 3M Company
• Continental AG
• Cooper Tire & Rubber Company
• Delphi Automotive PLC
• Denso Corporation
• Goodyear Tire & Rubber Company
• Magneti Marelli S.p.A
• Robert Bosch GmbH
• Sumitomo Electric Industries Ltd.
• ZF Friedrichshafen AG
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Key Highlights of Automotive Wholesale and Distribution Aftermarket Market:
• Based on replacement product, the tires segment led the market in 2024, acquiring 25.4% of the total revenue share. This is because tires are one of the primary automobile components that need to be replaced continuously due to high wear and tear.
• By vehicle type, the passenger vehicles segment accounted for the largest automotive wholesale and distribution aftermarket market share in 2024. With rising urbanization, there has been an increase in the use of passenger automobiles for daily commuting. As a result, many automotive parts experience increased wear and tear, necessitating more frequent repairs and replacements.
• North America dominated the global market in 2024, driven by the presence of an established automotive sector, a high rate of vehicle ownership, and a growing market for used automobiles in the region.
• Asia Pacific is anticipated to witness the fastest growth during the forecast period, driven by the rapidly growing automotive industry in the region.
Details of Market Segmentation:
The automotive wholesale and distribution aftermarket market segmentation is based on vehicle type, replacement product, and region.
Based on replacement products, the tires segment held the largest market share due to the tires being the premiere automotive parts that need replacement as they are subjected to abrasion and experience elevated wear and tear. Progression in automotive technologies has caused the advancement of vehicles that are sturdy and designed to last longer.
Based on vehicle type, the passenger vehicles segment dominated the market due to surging urbanization and escalation in the usage of passenger automobiles for everyday traveling. Thus, several automotive parts encounter escalated wear and tear, needing more repeated repairs and substitution.
By Vehicle Type Outlook (Revenue - USD Billion, 2020-2034)
• Passengers Vehicles
• Commercial Vehicles
By Replacement Product Outlook (Revenue - USD Billion, 2020-2034)
• Tires
• Batteries
• Lightning and Electronic Components
• Wheels
• Filters
• Exhaust Components
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Automotive Wholesale and Distribution Aftermarket Market, Regional Outlook (Revenue - USD Billion, 2020-2034)
• North America
o Vehicle Type Outlook
• Passengers Vehicles
• Commercial Vehicles
o Replacement Product Outlook
• Tires
• Batteries
• Lightning and Electronic Components
• Wheels
• Filters
• Exhaust Components
• Europe
o Vehicle Type Outlook
• Passengers Vehicles
• Commercial Vehicles
o Replacement Product Outlook
• Tires
• Batteries
• Lightning and Electronic Components
• Wheels
• Filters
• Exhaust Components
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