[Latest] Global Automotive Aftermarket Market Size/Share

Austin, TX, USA, April 22, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Automotive Aftermarket Market Size, Trends and Insights By Replacement Parts (Tire & Wheels, Battery & Brake Parts, Body Parts, Exhaust Components, Turbocharger, Others), By Vehicle Type (Passenger Vehicle, Commercial Vehicle), By Distribution Channel (OEM & Repair Shops, Wholesalers & Distributors), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.

“According to the latest research study, the demand of global Automotive Aftermarket Market size & share was valued at approximately USD 448.1 Billion in 2023 and is expected to reach USD 450.9 Billion in 2024 and is expected to reach a value of around USD 619.6 Billion by 2033, at a compound annual growth rate (CAGR) of about 4.1% during the forecast period 2024 to 2033.”

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Automotive Aftermarket Market: Overview

The automotive aftermarket is a sector which offers goods, services, and solutions for cars after they have been sold by their original equipment manufacturer. This sector includes a diverse variety of firms, such as producers, retailers, distributors, service providers, and repair shops, all of which cater to car owners’ demands for vehicle maintenance, repair, customization, and enhancements.

The increasing global focus on digitization and e-commerce, with more customers choosing to buy aftermarket accessories and parts via the Internet, is fueling the growth of online retail channels.

Furthermore, as cars become more complicated, integrating advanced electronics and communication technologies, there is a growing need for specialized aftermarket items and services designed specifically for modern automobiles.

Furthermore, there is a growing emphasis on sustainability and environmentally friendly practices, which has led to the use of remanufactured and recycled car components. Consumer demands for car customization and personalization are driving demand for aftermarket equipment and cosmetic enhancements.

In general, these developments are altering the global automotive aftermarket market, pushing innovation and opening up new possibilities for industry participants.

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By replacement parts, tires & wheels segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Tires and wheels dominate the automotive aftermarket industry due to their regular wear and tear, desire for customization, performance improvements, and the need for replacements, all of which influence vehicle aesthetics, safety, and performance.

By vehicle type, the passenger vehicle segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Because of the huge number of passenger cars on the road, the automotive aftermarket industry is driven by rising demand for replacement parts, accessories, and maintenance services.

By distribution channel, OEM & repair shops segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. OEMs supply components, while repair shops provide installation and maintenance services, which are both critical for vehicle maintenance. They support the aftermarket industry by addressing consumers’ repair and customization requirements.

North America dominates the automotive aftermarket industry owing to its huge population, high vehicle ownership rates, wide road network, culture of customization, competitive market environment, and favorable regulatory framework.

Delphi Technologies was created in 2017 when Delphi Automotive, formerly a part of General Motors, rebranded itself Aptiv and sold off its powertrain and aftermarket operations to become Delphi Technologies PLC.

Report Scope

Feature of the Report	Details
Market Size in 2024	USD 450.9 Billion
Projected Market Size in 2033	USD 619.6 Billion
Market Size in 2023	USD 448.1 Billion
CAGR Growth Rate	4.1% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Type, Vehicle Type, Application and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Automotive Aftermarket report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Automotive Aftermarket report has been modified to include the COVID-19 impact study prior to delivery.)

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CMI has comprehensively analyzed the Global Automotive Aftermarket market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Automotive Aftermarket industry.

The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.

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Key questions answered in this report:

What is the size of the Automotive Aftermarket market and what is its expected growth rate?
What are the primary driving factors that push the Automotive Aftermarket market forward?
What are the Automotive Aftermarket Industry's top companies?
What are the different categories that the Automotive Aftermarket Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Automotive Aftermarket market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2024−2033
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Automotive Aftermarket Market Regional Insight

By region, Automotive Aftermarket market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. North America dominated the global Automotive Aftermarket market in 2023 with a market share of 35% and is expected to keep its dominance during the forecast period 2024-2033.

High vehicle ownership rates in North America drive up the need for aftermarket automotive goods and services. Furthermore, North America’s robust transportation infrastructure and large network of roads cause considerable wear and tear on automobiles, demanding frequent repair and replacement of components.

Furthermore, the region’s culture of customisation and personalisation increases the need for aftermarket parts and performance-enhancing items. Further, the existence of a competitive market environment with several established firms and creative startups encourages ongoing product development and technology breakthroughs.

Finally, favourable legislative frameworks and customer preferences for convenience and value drive the automobile aftermarket business in North America. In general, these elements combine to strengthen the region’s supremacy in the automobile aftermarket sector. Overall, these factors converge to propel the region’s dominance in driving the automotive aftermarket market.

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Browse the full “Automotive Aftermarket Market Size, Trends and Insights By Replacement Parts (Tire & Wheels, Battery & Brake Parts, Body Parts, Exhaust Components, Turbocharger, Others), By Vehicle Type (Passenger Vehicle, Commercial Vehicle), By Distribution Channel (OEM & Repair Shops, Wholesalers & Distributors), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” Report at https://www.custommarketinsights.com/report/automotive-aftermarket-market/

List of the prominent players in the Automotive Aftermarket Market:

Robert Bosch GmbH
Continental AG
Denso Corporation
Magna International Inc.
Delphi Technologies
ZF Friedrichshafen AG
Valeo SA
Tenneco Inc.
Aisin Seiki Co. Ltd.
Faurecia SA
Aptiv PLC
Federal-Mogul Motorparts
Hella GmbH & Co. KGaA
BorgWarner Inc.
Lear Corporation
Mahle GmbH
Bridgestone Corporation
3M Company
Osram GmbH
Continental Tyres
Others

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The Automotive Aftermarket Market is segmented as follows:

By Replacement Parts

Tire & Wheels
Battery & Brake Parts
Body Parts
Exhaust Components
Turbocharger
Others

By Vehicle Type

Passenger Vehicle
Commercial Vehicle

By Distribution Channel

OEM & Repair Shops
Wholesalers & Distributors

Click Here to Get a Free Sample Report of the Global Automotive Aftermarket Market @ https://www.custommarketinsights.com/report/automotive-aftermarket-market/

Regional Coverage:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Automotive Aftermarket Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Automotive Aftermarket Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Automotive Aftermarket Market? What Was the Capacity, Production Value, Cost and PROFIT of the Automotive Aftermarket Market?
What Is the Current Market Status of the Automotive Aftermarket Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Automotive Aftermarket Market by Considering Applications and Types?
What Are Projections of the Global Automotive Aftermarket Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Automotive Aftermarket Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Automotive Aftermarket Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Automotive Aftermarket Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Automotive Aftermarket Industry?

Click Here to Access a Free Sample Report of the Global Automotive Aftermarket Market @ https://www.custommarketinsights.com/report/automotive-aftermarket-market/

Reasons to Purchase Automotive Aftermarket Market Report

Automotive Aftermarket Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Automotive Aftermarket Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Automotive Aftermarket Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Automotive Aftermarket Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Automotive Aftermarket market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

Buy this Premium Automotive Aftermarket Research Report | Fast Delivery Available - [220+ Pages] @ https://www.custommarketinsights.com/report/automotive-aftermarket-market/

What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Automotive Aftermarket market analysis.

The competitive environment of current and potential participants in the Automotive Aftermarket market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Automotive Aftermarket market should find this report useful. The research will be useful to all market participants in the Automotive Aftermarket industry.
Managers in the Automotive Aftermarket sector are interested in publishing up-to-date and projected data about the worldwide Automotive Aftermarket market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Automotive Aftermarket products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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