openPR Logo
Press release

ASEAN Automotive Aftermarket to Grow at 9.6% CAGR through 2026

01-25-2017 07:25 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

ASEAN Automotive Aftermarket to Grow at 9.6% CAGR through 2026

In Future Market Insights’ market report titled, “Automotive Aftermarket: ASEAN Industry Analysis and Opportunity Assessment, 2016-2026”, poor road infrastructure and extended vehicle life have been identified as profitable factors for the growth of the automotive aftermarket in ASEAN. On account of growing out-of-warranty car parc, the US$ 19.3 Bn ASEAN automotive aftermarket is predicted to surpass US$ 48 Bn in revenues by 2026 end, increasing at a healthy CAGR of 9.6% through 2026.

Key Trends Impacting the ASEAN Automotive Aftermarket

Growing popularity of new, lightweight vehicle models

Advances in OEM technology and OEM globalisation

Adoption of remote vehicle diagnostic systems, growing awareness about self-inflating tyres, and widespread acceptance of electric vehicle technology

Online sales of automotive parts and accessories

Establishment of franchises in emerging countries, especially those where vehicle parc is steadily gaining traction

Segmentation Highlights: Tyres Will Remain Highest Selling Parts; Indonesia to Remain the Largest Market

Request For Report Sample: http://www.futuremarketinsights.com/reports/sample/rep-as-661

By type, tyres will continue to account for the largest revenue share. In the accessories segment, the interior accessories segment – which includes steering wheels, seat covers, seat belts, liners, floor mats, liners, gauges, dash boards, and shift knobs – will reportedly hold a major share of over 66%, crossing a value of US$ 9.0 Bn by 2026 end.

By service, general automotive repair is estimated at over 86% value share during the forecast period, maintaining dominance over automotive transmission repairs. By vehicle type, passenger cars will continue to attract higher revenues compared to commercial vehicles. Indonesia will remain the largest market accounting for 35% revenue share of the market in 2026. Thailand and Malaysia, the other key markets will collectively account for over 50% revenue share of the market.

Fundamental Shift in Consumer Preference and Driver’s Choice Will Impact the Market

With driverless car technology and dashboard pyro techniques steadily gaining traction, consumers are likely to have more aftermarket channels to shop. Consumer behaviour is expected to shift from a conventional way of buying vehicle parts, accessing repair services, and selecting accessories. Moreover, evolving driver preferences also reflect a new set of revenue generation opportunities for automakers, auto part suppliers, repair shops, and accessory retailers. Consumers are increasingly becoming aware of the latest launched products and thus, will access a plethora of aftermarket product offerings to cater to their comfort, aesthetics, and infotainment-related requirements.

Send An Enquiry: http://www.futuremarketinsights.com/askus/rep-as-661

Key Players Focussing on Boosting Expansion Capacity

The key players highlighted in the ASEAN automotive aftermarket include Denso Corporation, Hella KGaA Hueck & Co., Continental AG, Delphi Automotive PLC, ACDelco, Faurecia SA, Magneti Marelli SpA, Robert Bosch GmbH, Aisin Seiki Co., Ltd., and Bridgestone Corporation. Bridgestone, one of the top companies, announced expansion of its international manufacturing capabilities in Germany this year. Post-acquisition of Speedy France, the company also launched a new manufacturing plant based in Indonesia. Continental AG also opened its new production plants in India and China this year.

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

CONTACT:
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Press@futuremarketinsights.com
Website: www.futuremarketinsights.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release ASEAN Automotive Aftermarket to Grow at 9.6% CAGR through 2026 here

News-ID: 421338 • Views:

More Releases from Future Market Insights

External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Driven by Innovation and Expanding Healthcare Access
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Dr …
The global external anti-infective preparations market is on track for sustained growth, with revenues projected to rise from USD 5,412.8 million in 2025 to approximately USD 6,728.7 million by 2035, representing an absolute increase of USD 1,315.9 million and a compound annual growth rate (CAGR) of 2.2%. This expansion is fueled by the increasing prevalence of external infections and the growing demand for localized antimicrobial treatment solutions across hospitals, clinics,
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Driven by Innovation and Expanding Healthcare Access
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Dr …
The global external anti-infective preparations market is on track for sustained growth, with revenues projected to rise from USD 5,412.8 million in 2025 to approximately USD 6,728.7 million by 2035, representing an absolute increase of USD 1,315.9 million and a compound annual growth rate (CAGR) of 2.2%. This expansion is fueled by the increasing prevalence of external infections and the growing demand for localized antimicrobial treatment solutions across hospitals, clinics,
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Driven by Innovation and Expanding Healthcare Access
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Dr …
The global external anti-infective preparations market is on track for sustained growth, with revenues projected to rise from USD 5,412.8 million in 2025 to approximately USD 6,728.7 million by 2035, representing an absolute increase of USD 1,315.9 million and a compound annual growth rate (CAGR) of 2.2%. This expansion is fueled by the increasing prevalence of external infections and the growing demand for localized antimicrobial treatment solutions across hospitals, clinics,
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Driven by Innovation and Expanding Healthcare Access
External Anti-infective Preparations Market USD 6,728.7 Million through 2035, Dr …
The global external anti-infective preparations market is on track for sustained growth, with revenues projected to rise from USD 5,412.8 million in 2025 to approximately USD 6,728.7 million by 2035, representing an absolute increase of USD 1,315.9 million and a compound annual growth rate (CAGR) of 2.2%. This expansion is fueled by the increasing prevalence of external infections and the growing demand for localized antimicrobial treatment solutions across hospitals, clinics,

All 5 Releases


More Releases for ASEAN

Celebrating the China-ASEAN Year of Cultural Exchange, A Special Documentary Ser …
The documentary series "Dialogue with ASEAN" is set against the backdrop of the United Nations' 2030 Sustainable Development Agenda and the "Belt and Road Initiative." Through real-life cases and compelling personal stories, it showcases the successful outcomes of connectivity, cooperation, and mutual exchanges between China and ASEAN countries across five key areas: society, economy, ecology, technology, and humanities. Image: https://www.getnews.info/uploads/4483a1ae6174ae0c3ca9acef5c26e47f.jpg The upcoming special program of "Dialogue with ASEAN" (one episode, 45 minutes)
2024 China-ASEAN Youth Culture Week and the 7th China-ASEAN Youth Symposium Succ …
On March 31st, the 2024 China-ASEAN Youth Culture Week and the 7th China-ASEAN Youth Symposium, themed "Youth Practice in Mutual Learning and Exchange among Civilizations," were successfully concluded in Beijing. Over four days, more than a hundred youth delegates from China and ASEAN countries participated in a series of events including the opening ceremony, the launch of "I Show ASEAN": China-ASEAN Youth Story Collection, Roundtable Forums, Academic Sessions, Citywalk, Chine-ASEAN
The return of LED Expo Thailand + SMARTECH ASEAN 2022 opened the doors to Thaila …
Press Release New Delhi, October 2022 SUCCESS STORY OF LED EXPO THAILAND + SMARTECH ASEAN 2022 | THE PLATFORM WHICH BRINGS TOGETHER 'ENERGY EFFICIENCY AND DIGITALIZATION FOR SMART LIGHTING.' The return of LED Expo Thailand + SMARTECH ASEAN 2022 opened the doors to Thailand & ASEAN region's LED & Smart Lighting markets. After a hiatus of 2 years due to the pandemic, this show was an accurate move in Thailand's LED
ASEAN Automotive Insurance market
Astute Analytica published a new report on the ASEAN Automotive Insurance market, the research study offers analysis and detailed insights on key market dynamics including growth drivers, restraint factors, challenges, opportunity analysis, and trends. The research report also includes a detailed analysis of market segmentation, competitive landscape, market vendors, and estimated market size in qualitative and quantitative methods. The ASEAN Automotive Insurance market is anticipated to witness a remarkable growth at
ASEAN Automotive Insurance market |Indonesia Malaysia Philippines
Astute Analytica published a new report on the ASEAN Automotive Insurance market, the research study offers analysis and detailed insights on key market dynamics including growth drivers, restraint factors, challenges, opportunity analysis, and trends. The research report also includes a detailed analysis of market segmentation, competitive landscape, market vendors, and estimated market size in qualitative and quantitative methods. The ASEAN Automotive Insurance market is anticipated to witness a remarkable growth at
[PDF] ASEAN Automotive Aftermarket Market : New Incredible Transformations
What Is ASEAN Automotive Aftermarket? The automotive aftermarket is the automotive industry market which includes equipment, replacement tires, service repair, collision, repair and accessories, etc. Companies operated in automotive aftermarket are manufacturing, remanufacturing, retailing, distribution, and installation of replacement vehicle parts, automotive accessories, service repair, and equipment. The automotive aftermarket deals with oil and lubricants, batteries, tires, filters, starters and alternators, coatings and paint consumables, exhaust components, spark plugs, crash parts,