The
global automotive
aftermarket size is expected to reach USD 486.36 billion by 2025,
according to a new report by Grand View Research, Inc., registering a 4.2% CAGR
during the forecast period. Digitalization of automotive repair and component
sales has been brought on by the incorporation of advanced technologies; this
is slated to boost market growth. Surging reception of electric and hybrid
vehicles as well as semi-autonomous and autonomous cars in the years to come is
further expected to bolster market growth. Based on replacement parts, the
market can be categorized into tire, battery, brake parts, filters, body parts,
lighting and electronic components, wheels, exhaust components, and
turbochargers.
Increasing
vehicle sales are driven by overall improvement in living standards, especially
in developing countries such as India and Brazil. This has driven the global
automobile industry. Similar growth in automotive manufacturing across various
regions, along with increasing stringent emissions norms, is expected to drive
automotive aftermarket component sales over the forecast period.
Asia
Pacific is expected to be the fastest growing market for automotive collision
repair services over the forecast period, owing to high vehicle production,
rising road accidents, and improving living standards of consumers. It is also
anticipated to be the fastest-growing market in automobile production. With
growing penetration and acceptance of gas and hybrid/ electric cars,
specialized repair centers are expected to increase.
Browse full research report on Automotive Aftermarket : https://www.grandviewresearch.com/industry-analysis/aftermarket-automotive-parts-market
Further
key findings from the report suggest:
- The automotive
aftermarket is estimated to grow significantly over the forecast period,
owing to an increase in number of lightweight vehicles
- North America
has a higher technology adoption rate, which is anticipated to result in
faster and higher adoption of hybrid/electric automobiles in the region
- The global
automotive aftermarket is anticipated to be driven by mushrooming
specialized automotive collision repair centers dedicated toward serving
specific vehicles such as alternate fuel powered vehicles
- Key industry
participants include Magneti Marelli S.p.A., Continental AG, 3M Company,
Federal-Mogul Corporation, Delphi Automotive PLC, Robert Bosch GmbH, and
Denso Corporation.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/automotive-and-transportation
Grand
View Research has segmented the global automotive aftermarket based on replacement
part, distribution channel, service channel, certification, and region:
Automotive
Aftermarket Replacement Part Outlook (Revenue, USD Billion, 2014 - 2025)
- Tire
- Battery
- Brake parts
- Filters
- Body parts
- Lighting
& Electronic components
- Wheels
- Exhaust components
- Turbochargers
- Others
Automotive
Aftermarket Distribution Channel Outlook(Revenue, USD Billion, 2014 - 2025)
- Retailers
- OEMs
- Repair Shops
- Wholesalers
& Distributors
Automotive
Aftermarket Service Channel Outlook(Revenue, USD Billion, 2014 - 2025)
- DIY (Do It
Yourself)
- DIFM (Do It
for Me)
- OE
(Delegating to OEMs)
Automotive
Aftermarket Certification Outlook (Revenue, USD Billion, 2014 -2025)
- Genuine Parts
- Certified
Parts
- Uncertified
Parts
Automotive
Aftermarket Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Asia Pacific
- China
- India
- Japan
- South America
- Brazil
- Middle East
& Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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