openPR Logo
Press release

Asia Pacific Excluding Japan Automotive Aftermarket Poised to hit US$ 218.73 Bn by 2025

03-29-2017 03:02 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Asia Pacific Excluding Japan Automotive Aftermarket Poised


Over the last decade, volatile growth has been observed in the Asia-Pacific automotive aftermarket. The only major market is set to witness a steady growth during the forecast period. Owed to overall growth in the automotive industry is expected to result in the growth of the Asia-Pacific automotive aftermarket. China has experienced the largest growth and will serve as the most attractive market and strong growth is forecast to continue. All local and multinational companies are keeping an eye upon the region to supply automotive aftermarket parts along with lower costs.

The Automotive aftermarket is a secondary market, which starts right after the post-sale of the vehicle and emphases on the remanufacturing, manufacturing, distribution, and installation of automobile components and accessories. When these components and accessories are installed very next to the initial sale of the vehicle by the dealer or service provider is termed as automotive aftermarket. Aftermarket automotive components are parts manufactured or remanufactured for installation in vehicles sold by original equipment manufacturers (OEMs), in case of damage or wear. Accessories include parts customized for convenience, safety, comfort and performance, and these are designed as add-ons to be installed after OEMs have assembled the automobiles. Services caters to needs such as choice of where consumers can have their vehicles serviced, maintained or customized.

Request Report Sample@

Drivers and Trends

The Asia-Pacific automotive aftermarket is anticipated to grow at a double-digit CAGR during the forecast period. Growth of the Asia-Pacific aftermarket is mainly driven by growing vehicle parc, increasing safety and security needs, demand for add-on services, higher customer awareness about vehicle upkeep, periodic maintenance, increasing mandated by governments and cost of the automotive aftermarket parts which is less as compared to original parts. Apart from this, favorable GDP growth in the economy are also contributing as the significant drivers for Asia-Pacific automotive aftermarket. However, despite certain technological challenges acting as growth restraints, the Asia-Pacific automotive aftermarket is expected to experience rapid growth over the forecast period.

Segmentation by Replacement Parts

The Asia-Pacific automotive aftermarket can be segmented, based on replacement parts, into oil & lubricants, tires, batteries, wear & tear parts, filters, Collision body, Starters and alternators, lighting, exhaust components and spark plugs. Among these segments, exhaust components dominates the other segments with a CAGR of 14.7% followed by tires and is expected to remain dominant during the forecast period 2015-2025.

Segmentation by Accessories

The Asia-Pacific automotive aftermarket can be segmented, based on accessories, into interior and exterior accessories. Among these segments, demand for interior accessories is more as compared to exterior accessories and is expected to continue its dominance in the sub segment market by 2025.

Segmentation by Service

The Asia-Pacific automotive aftermarket can be segmented, based on services, into general automotive repairs and automotive transmission & other repairs and is predicted to grow at a double digit CAGR during the forecast period 2015 to 2025.

Send An Enquiry@

Segmentation by Countries

Asia-Pacific is anticipated to become the fastest growing region in the global automotive aftermarket. Countries covered in the Asia-Pacific automotive aftermarket outlook and forecast includes China, India, ASEAN, Oceania and Rest of Asia-Pacific. The growing demand from China and India is expected to fuel the growth of the automotive aftermarket during the forecast period 2015-2025.

About Us – Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.

Contact Us:
Future Market Insights
616 Corporate Way,
Suite 2-9018,
Valley Cottage,
New York 10989,
United States
Tel: +1-347-918-3531
Fax: +1-845-579-5705

This release was published on openPR.

Permanent link to this press release:

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 Asia Pacific Excluding Japan Automotive Aftermarket Poised to hit US$ 218.73 Bn by 2025 here

News-ID: 484790 • Views: 263

More Releases from Future Market Insights

How Changing Dynamics of Cable Testing Market are Reflecting on Growth Strategie …
Global Cable Testing Market: Introduction The cost of the substitution of cables that are concealed is very high. Faults in the cable, bending, kinking, and crushing, are not always visible, which has created the requirement for cable testing. Thus, cable testing helps check the cable functionality, cable quality, and cable conformity. Several times, cable testing by visual inspection is an effective way of identifying the actual problem before it causes any
How Transformative Trends in Self-Organising Network Market are Molding Strategi …
Self-Organising Network: Introduction With accelerated advancements and increasing complexities in the radio network technologies, such as those utilised for the development of LTE and 5G networks, which are used for planning, management, configuration, healing and optimisation, are required to be automated to facilitate efficiency. At present, suppliers are offering self-organising networks that possess the ability to offer optimum performance. Self-organising networks are use cases that perform network governance, including network planning,
Mining Vehicle AC Kits Market: Exploring the Impact of Trends on Strategies of K …
Mining Vehicle AC Kits Market: Introduction Cabin space in mining equipment has become more sophisticated in the recent past. The installation of mining vehicle AC kits has evolved from an optional feature to a necessary feature. Mining equipment manufacturers have made advancements in technology related to efficiency, performance and cost of air conditioning systems in order to make them affordable and economical to enable low-budget and compact installations without compromising on
Key Factors to Fuel Growth of the Talent Acquisition & Staffing Technology and S …
With the growing importance of recruiting and retaining top talent effectively and efficiently, smart hiring processes are the need of the hour. It is about time organisations move beyond merely scrutinising resumes. Salaries and benefits are important factors, but adopting ways that would make candidates an important part of the hiring process will attract the best talent. Studies reveal that due to discrepancies in existing Applicant Tracking Systems (ATS), hiring

All 5 Releases

More Releases for Automotive

Global Automotive Cameras Market
Global Automotive Cameras Market is expected to reach US$ 28Bn by 2026 from US$ 12Bn in 2017 at CAGR of 11.17%. The increasing road accidents, traffic congestion, change in consumer preferences and stringent government regulations have resulted in improved demand for automotive cameras for the vehicles. The major key factors contributing to the growth of the market are the technological advancements in the cameras along with the reduction in prices at
Automotive Gearbox Market,Automotive Gearbox Industry, Global Automotive Gearbox …
Latest industry research report on: Global Automotive Gearbox Market : Industry Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth, Segmentation, Parameters, Forecasts This industry study presents the global Automotive Gearbox market size, historical breakdown data (2013-2018) and forecast (2018-2025). The Automotive Gearbox production, revenue and market share by manufacturers, key regions and type; The consumption of Automotive Gearbox in volume terms are also provided for major countries (or regions), and for each
Automotive Gear Oil Market
Automobile gears (or cogs) are rotating machine part having cut teeth, or cogs which mesh with another toothed part in order to transmit torque. The arrangement of two or more gears forms automotive transmission system. Automotive gear oil can be petroleum or synthetic based, used especially for lubricating automotive gears for all class of vehicles. It provide high transmission efficiency, reduce engine heating, provides proper clutch friction, insure better oxidation
Automotive Head-up Display
The Insight Partners added “Automotive Head-up Display (HUD) Market to 2025 - Global Analysis and Forecasts by Product Type, Sales Channel and Vehicle Type” to its research database. The report is spread across 150 pages and supported by 10 company leaders. Head up display in automotive is a transparent display which projects data on the wind-shield without requiring drivers to change their viewpoint. This is primarily achieved by two approaches. First,
Automotive Actuators Market 2017 - AK, FTE automotive’s Automotive Actuators market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market. Request for sample @ The Players mentioned in our report AK FTE automotive The report includes the forecasts, Analysis and discussion of important industry trends,
Global Automotive Fuse Market
The Automotive Fuse Market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. Automotive Fuse Market Dynamics: Macro-economic factors such as GDP impact on sales of commercial vehicles, growing urbanisation, developing infrastructure are driving the automotive industry market growth at broader level. Rising demand for