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Automotive Industry Driving Forces Behind Wholesale And Distribution Automotive Aftermarket: Key Factor Driving The Growth In The Wholesale and Distribution Automotive Aftermarket Market
Wholesale and Distribution Automotive Aftermarket
How Big Is the Wholesale and Distribution Automotive Aftermarket Market Size Expected to Be by 2034?
Over the past few years, there has been substantial growth in the size of the wholesale and distribution automotive aftermarket market. The market is projected to expand from $232.7 billion in 2024 to reach $244.78 billion in 2025, signaling a compound annual growth rate (CAGR) of 5.2%. Factors such as the aging fleet of vehicles, the rise in vehicle ownership rates, longer vehicle lifespan, global spread of car manufacturing, and the growth of e-commerce have contributed to this growth during the historical period.
The size of the wholesale and distribution automotive aftermarket market is projected to experience substantial growth in the coming years. It's expected to surge to $324.73 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 7.3%. This expansion during the forecast period can be linked to the proliferation of electric and hybrid vehicles, the advancement of autonomous vehicles, the use of data analytics in maintenance, the emergence of mobility services, and the use of advanced materials in manufacturing. Key trends identified for this forecast period include diversified product catalogs and SKU variety, the application of predictive analytics for inventory management, a rise in private label and custom products, increased cross-border trading, and the use of mobile solutions for order processes.
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What Are the Emerging Segments Within the Wholesale and Distribution Automotive Aftermarket Market?
The wholesale and distribution automotive after market 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
Subsegments:
1) By Tire: All-Season Tires, Performance Tires, Off-Road Tires
2) By Battery: Lead-Acid Batteries, Lithium-Ion Batteries, AGM Batteries
3) By Brake Parts: Brake Pads, Brake Rotors, Brake Calipers
4) By Filters: Engine Air Filters, Oil Filters, Cabin Air Filters
5) By Body Parts: Fenders, Bumpers, Doors
6) By Lighting And Electronic Components: Headlights, Taillights, Sensors And Modules
7) By Wheels: Steel Wheels, Alloy Wheels, Custom Wheels
8) By Exhaust Components: Mufflers, Exhaust Pipes, Catalytic Converters
9) By Other Replacement Parts: Suspension Parts, Engine Components, Transmission Parts
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What Long-Term Drivers Are Shaping Wholesale and Distribution Automotive Aftermarket Market Trends?
The expansion of the automotive sector is the catalyst for the growth in the automotive aftermarket of wholesale and distribution. Numerous distinct entities involved in the conceptualization, creation, marketing, and sales of cars make up this sector. The evolving tastes and desires of consumers prompt car manufacturers to produce a variety of automobile designs and models. Technological progress coupled with better economic conditions also contribute to the automotive industry's surge. The automotive aftermarket supports the automotive industry by supplying the necessary parts that customers require for their new or pre-owned vehicles. As an example, in 2024, Statistics Canada, a government agency in Canada, reported that the total number of registered road motor vehicles in Canada in 2022 experienced a minor rise of 0.3% from 2021, reaching 26.3 million. As such, the expanding automotive industry anticipates propelling the growth of the automotive aftermarket involving wholesale and distribution.
Who Are the Top Competitors in Key Wholesale and Distribution Automotive Aftermarket Market Segments?
Major companies operating in the wholesale and distribution automotive aftermarket market include 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, 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 Automotive Systems, Knorr-Bremse Co Ltd., Marelli Holdings Co Ltd.
What Wholesale and Distribution Automotive Aftermarket Market Trends Are Gaining Traction Across Different Segments?
The steady increase in the digitalization of auto repair & maintenance services is a significant trend in the automotive aftermarket wholesale and distribution sector. Producers of aftermarket automotive products and services currently offer online platforms for information, guidance, and instruction on adequate installation and troubleshooting, along with digital tools like electronic catalogs and video libraries for product selection, tutorials, and showcases. For instance, DENSO Products and Services Americas, Inc., a US-based company that sells and distributes automotive components, launched MobiQ in April 2024. This product aims to improve mobility by using sophisticated technology to advance communication between vehicles and infrastructure, leading to improved safety and traffic flow. MobiQ's V2X features allow connected vehicles to connect with roadside systems for optimal traffic control. This technology works seamlessly with existing traffic controls to guarantee safe and efficient transit, ultimately reducing traffic and improving the overall driving experience. The focus of MobiQ is to ensure the safety of vehicles and pedestrians, aiming to reduce collisions and enhance the prioritization of emergency vehicles.
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Which Regions Are Becoming Hubs for Wholesale and Distribution Automotive Aftermarket Market Innovation?
North America was the largest region in the wholesale and distribution automotive afterMarket in 2024. Asia-Pacific is expected to be the fastest-growing region in the wholesale and distribution automotive afterMarket share during the forecast period. The regions covered in the wholesale and distribution automotive afterMarket report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Wholesale and Distribution Automotive Aftermarket Market?
2. What is the CAGR expected in the Wholesale and Distribution Automotive Aftermarket Market?
3. What Are the Key Innovations Transforming the Wholesale and Distribution Automotive Aftermarket Industry?
4. Which Region Is Leading the Wholesale and Distribution Automotive Aftermarket Market?
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