Precedence Research, Recently Published Report on “AutomotiveAftermarket Size, Share, Growth, Trends, Segment Forecasts, Regional Outlook 2020 - 2027”. The report offers an up-to-date analysis regarding the current market scenario, latest trends, key drivers, potential challenges, profitability graph and the overall market environment.
The global Automotive Aftermarket Market value is projected to reach US Dollar 513.1 billion by 2027 and is projected to expand at a CAGR of ~3.8% from 2020 to 2027.
Automotive aftermarket includes post-sales replacement of vehicle parts or components to maintain the efficiency and its mobility affordable throughout the life of a vehicle. There are chain of operators in the automotive aftermarket that include multi-brand repairers, providers of technical information, parts distributors, tools manufacturers, parts manufacturers, and roadside rescue service providers.
Growth Factors
Increasing sales of pre-owned and new vehicles, ageing of vehicles, and poor road conditions are some of the prominent factors that spur the growth of automotive aftermarket. As per Bureau of Transportation Statistics U.S., average age of passenger vehicles is 12 years. Thus, automotive components or parts demand replacement, thereby fuelling the growth of the market. In addition, Integration of advanced technologies such as Internet of Things (IoT), big data, and analytics in the distribution mode triggers the trend for online sales of automotive components. Besides this, rising adoption of electric vehicle and safety technologies offer significant challenge for the component replacement.
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Report Highlights
- In 2019, the Asia Pacific led the automotive aftermarket in terms of revenue in 2019 and analyzed to witness prominent growth over the forecast period. Surge in demand for passenger cars, use of advanced technology while fabrication of auto parts, and digitalization of component delivery services projected to spur the market growth in the region.
- Europe is a matured market and contribute prominent revenue share in the global automotive aftermarket owing to a regional home for several automotive OEM manufacturers. Additionally, green revolution has transformed the transportation sector of the region into an environment-friendly solution this significantly spurs the market growth.
- In terms of revenue, tire dominated the global automotive aftermarket and anticipated to continue its dominance over the forecast period due to small replacement cycle compared to its counterparts.
- On the basis of distribution channel, retailer segment projected to lead the market, whereas wholesale and distribution segment witness the fastest growth over the projected years. Rising digitization and trend for online platform are some of the major factors that uplift the wholesale and distribution segment in the coming years.
- By sales channel, Original Equipment (delegating to OEMs) expected to dominate the automotive aftermarket in the years to come. Brand name and consumer loyalty are the major factors that propel the market growth for OE segment. Besides this, Do It Yourself (DIY) experience lucrative growth over the forecast period. This is mainly due to the rising technical knowledge of the consumer and their keen interest to repair, maintain, and upgrade their cars by their own.
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Regional Snapshots
In terms of market value, the Asia Pacific led the automotive aftermarket in 2019 and anticipated to register lucrative growth in the coming years. This is attributed to the rising sale and production of both passenger and commercial vehicles in the region. Dramatic changes in the transportation sector offer significant opportunity for the market players to maintain strong footprint in the region. Furthermore, the automotive aftermarket in the Asia Pacific region experience major consolidation from organized and new entrants by replacing current and unorganized players. In addition, implementation of new tax reforms from government enable the market to shift from unorganized management to organized and digitized platforms. Escalating disposable wages in emerging nations, such as Brazil and China is anticipated to have a progressive influence on the aftermarket sector.
On the other end, Europe and North America are the matured markets and seek lucrative growth for new technology integration in the existing platform. The public is also more experienced and prefer Do It Yourself (DIY) sales channel that again boost the market growth. In addition, high purchasing power in the regions triggered the sales of premium and luxury vehicles that cost higher for aftermarket component replacement, thus offer lucrative growth for Do It Yourself (DIY).
Key Players & Strategies
The global automotive aftermarket is highly competitive due to the presence of large number of players. In addition, advent of new technologies in the automotive components and the market shifts are compelling industry participants in aftermarket to evaluate their position and be strategic for maintaining position in the fast-changing environment. For the same, major market players such as 3M Company, Continental AG, Denso Corp., and Robert Bosch GmbH among others are investing prominently to upgrade their products to cater the consumer need and expectations. Other than major aftermarket players, small and new entrants are also gaining significant momentum in the aftermarket for automotive components by integrating high-end technologies such as IoT, big data, and blockchain among others.
Market Segmentation
By Replacement Part
- Battery
- Tire
- Filters
- Brake Parts
- Turbochargers
- Lighting & Electronic Components
- Body Parts
- Exhaust Components
- Wheels
- Others
By Service Channel
- DIFM (Do it for Me)
- DIY (Do it Yourself)
- OE (Delegating to OEM’s)
By Distribution Channel
- Wholesalers & Distributors
- Retailers
By Certification
- Certified Parts
- Genuine Parts
- Uncertified Parts
By Regional Outlook
- North America
- Europe
- Asia Pacific
- Rest of the World
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Automotive Aftermarket, By Replacement Part
7.1. Automotive Aftermarket, by Replacement Part Type, 2020-2027
7.1.1. Battery
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Tire
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Filters
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Brake Parts
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. Turbochargers
7.1.5.1. Market Revenue and Forecast (2016-2027)
7.1.6. Lighting & Electronic Components
7.1.6.1. Market Revenue and Forecast (2016-2027)
7.1.7. Exhaust Components
7.1.7.1. Market Revenue and Forecast (2016-2027)
7.1.8. Body Parts
7.1.8.1. Market Revenue and Forecast (2016-2027)
7.1.9. Wheels
7.1.9.1. Market Revenue and Forecast (2016-2027)
7.1.10. Others
7.1.10.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Automotive Aftermarket, By Service Channel
8.1. Automotive Aftermarket, by Service Channel, 2020-2027
8.1.1. DIFM (Do it for Me)
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. DIY (Do it Yourself)
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. OE (Delegating to OEM’s)
8.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Automotive Aftermarket, By Distribution Channel
9.1. Automotive Aftermarket, by Distribution Channel, 2020-2027
9.1.1. Wholesalers & Distributors
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Retailers
9.1.2.1. Market Revenue and Forecast (2016-2027)
Chapter 10. Global Automotive Aftermarket, By Certification
10.1. Automotive Aftermarket, by Certification, 2020-2027
10.1.1. Certified Parts
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. Genuine Parts
10.1.2.1. Market Revenue and Forecast (2016-2027)
10.1.3. Uncertified Parts
10.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 11. Global Automotive Aftermarket, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.1.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.1.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.1.4. Market Revenue and Forecast, by Certification (2016-2027)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.1.5.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.1.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.1.5.4. Market Revenue and Forecast, by Certification (2016-2027)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.1.6.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.1.6.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.1.6.4. Market Revenue and Forecast, by Certification (2016-2027)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.2.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.2.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.2.4. Market Revenue and Forecast, by Certification (2016-2027)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.2.5.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.2.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.2.5.4. Market Revenue and Forecast, by Certification (2016-2027)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.2.6.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.2.6.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.2.6.4. Market Revenue and Forecast, by Certification (2016-2027)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.2.7.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.2.7.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.2.7.4. Market Revenue and Forecast, by Certification (2016-2027)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.2.8.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.2.8.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.2.8.4. Market Revenue and Forecast, by Certification (2016-2027)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.3.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.3.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.3.4. Market Revenue and Forecast, by Certification (2016-2027)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.3.5.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.3.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.3.5.4. Market Revenue and Forecast, by Certification (2016-2027)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.3.6.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.3.6.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.3.6.4. Market Revenue and Forecast, by Certification (2016-2027)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.3.7.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.3.7.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.3.7.4. Market Revenue and Forecast, by Certification (2016-2027)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.3.8.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.3.8.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.3.8.4. Market Revenue and Forecast, by Certification (2016-2027)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.4.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.4.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.4.4. Market Revenue and Forecast, by Certification (2016-2027)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.4.5.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.4.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.4.5.4. Market Revenue and Forecast, by Certification (2016-2027)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.4.6.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.4.6.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.4.6.4. Market Revenue and Forecast, by Certification (2016-2027)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.4.7.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.4.7.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.4.7.4. Market Revenue and Forecast, by Certification (2016-2027)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.4.8.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.4.8.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.4.8.4. Market Revenue and Forecast, by Certification (2016-2027)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.5.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.5.4. Market Revenue and Forecast, by Certification (2016-2027)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.5.5.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.5.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.5.5.4. Market Revenue and Forecast, by Certification (2016-2027)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.5.6.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.5.6.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.5.6.4. Market Revenue and Forecast, by Certification (2016-2027)
Chapter 12. Company Profiles
12.1. p.A.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. 3M Company
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Continental AG
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Robert Bosch GmbH
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Federal-Mogul Corporation
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Denso Corporation
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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