AUTOMOTIVE & TRANSPORTATION
Global Automotive Aftermarket Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Automotive Aftermarket Market, By Replacement Parts (Tire, Battery, Brake Parts, Filters, Body parts, Lighting & Electronic Components, Wheels, Exhaust components, Turbochargers, and Others), Distribution Channel (Retailers and Wholesalers & Distributors), Vehicle Type (Two Wheelers, Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, All-Terrain Vehicles, and Off-Highway Vehicles), Service Channel (DIY (Do it Yourself), DIFM (Do it for Me), and OE (Delegating to OEM’s) ), Certification (Genuine Parts, Certified Parts, and Uncertified Parts), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global automotive aftermarket market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
The automotive aftermarket is the automotive industry's secondary market, which includes the manufacturing, distribution, retailing, and installation of vehicle parts, equipment, accessories, chemicals, and services following the sale of the vehicle by the original equipment manufacturer (OEM). This industry offers a diverse range of products and services, such as replacement parts, performance-enhancing components, maintenance and repair services, customization choices, and aftermarket electronics.
The respective global report analyses market trends, consumer behaviour and industry dynamics to guide towards entry into new markets with ease. Also, it assists in tailoring market specific and related products and services to meet the needs, preferences, and expectations of target audience by delving into their psychology. The report also specializes with comprehensive and extensive competitive analysis which offers useful insights into competitor strengths, weaknesses, opportunities, and threats. The respective report offers exclusive insights into the potential impact of disruptive developments and technologies that are expected to completely transform corporate operations. The context includes tailor-made research solutions to create a stronger footprint in their particular industries thereby offering dedicated customized solutions according to the client needs which helps in addressing unique business challenges with more simplified and efficient decision-making solutions.
Market Dynamics
DRIVERS
- Consumer preferences for customization
- Rise of e-commerce platforms and digitalization
RESTRAINTS
- Rising prices of raw materials
- Increasing complexity of vehicles
OPPORTUNITIES
- Technological advancements
- Growth opportunities in emerging markets
CHALLENGES
- Supply chain disruptions
- Economic downturns, recessions, and fluctuations in disposable income
SEGMENTATION
- Replacement Parts
- Tire
- Battery
- Brake Parts
- Filters
- Body parts
- Lighting & Electronic Components
- Wheels
- Exhaust components
- Turbochargers
- Others
- Distribution Channel
- Retailers
- OEMs
- Repair Shops
- Wholesalers & Distributors
- Vehicle Type
- Two Wheelers
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- All-Terrain Vehicles
- Off-Highway Vehicles
- Service Channel
- DIY (Do it Yourself)
- DIFM (Do it for Me)
- OE (Delegating to OEM’s)
- Certification
- Genuine Parts
- Certified Parts
- Uncertified Parts
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, segments, and key players as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- 3M Company
- Continental AG
- Cooper Tire & Rubber Company
- Denso Corporation
- Federal-Mogul Corporation
- HELLA KGaA Hueck & Co.
- Robert Bosch GmbH
- Valeo Group
- ZF Friedrichshafen AG
- Magna International Inc.
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Automotive Aftermarket Market, by Replacement Parts
- 3.2 Global Automotive Aftermarket Market, by Distribution Channel
- 3.3 Global Automotive Aftermarket Market, by Vehicle Type
- 3.4 Global Automotive Aftermarket Market, by Service Channel
- 3.5 Global Automotive Aftermarket Market, by Certification
- 3.6 Global Automotive Aftermarket Market, by Geography
- 3.7 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Rise of electric vehicles (EVs)
- 5.1.2 Connected car technologies
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Consumer preferences for customization
- 5.2.2 Rise of e-commerce platforms and digitalization
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 Rising prices of raw materials
- 5.3.2 Increasing complexity of vehicles
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Technological advancements
- 5.4.2 Growth opportunities in emerging markets
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Supply chain disruptions
- 5.5.2 Economic downturns, recessions, and fluctuations in disposable income
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL AUTOMOTIVE AFTERMARKET MARKET, BY REPLACEMENT PARTS
- 6.1 Replacement Parts Summary
- 6.2 Market Attractive Index
- 6.3 Global Automotive Aftermarket Market, by Replacement Parts (2019-2032)
- SECTION 7 - GLOBAL AUTOMOTIVE AFTERMARKET MARKET, BY DISTRIBUTION CHANNEL
- 7.1 Distribution Channel Summary
- 7.2 Market Attractive Index
- 7.3 Global Automotive Aftermarket Market, by Distribution Channel (2019-2032)
- SECTION 8 - GLOBAL AUTOMOTIVE AFTERMARKET MARKET, BY VEHICLE TYPE
- 8.1 Vehicle Type Summary
- 8.2 Market Attractive Index
- 8.3 Global Automotive Aftermarket Market, by Vehicle Type (2019-2032)
- SECTION 9 - GLOBAL AUTOMOTIVE AFTERMARKET MARKET, BY SERVICE CHANNEL
- 9.1 Service Channel Summary
- 9.2 Market Attractive Index
- 9.3 Global Automotive Aftermarket Market, by Service Channel (2019-2032)
- SECTION 10 - GLOBAL AUTOMOTIVE AFTERMARKET MARKET, BY CERTIFICATION
- 10.1 Certification Summary
- 10.2 Market Attractive Index
- 10.3 Global Automotive Aftermarket Market, by Certification (2019-2032)
- SECTION 11 - GLOBAL AUTOMOTIVE AFTERMARKET MARKET, BY GEOGRAPHY
- 11.1 Regional Summary
- 11.2 Market Attractive Index
- 11.3 Global Automotive Aftermarket Market, by Geography (2019-2032)
- SECTION 12 - NORTH AMERICA AUTOMOTIVE AFTERMARKET MARKET
- 12.1 North America Summary
- 12.2 Market Attractive Index
- 12.3 North America Automotive Aftermarket Market, by Replacement Parts (2019-2032)
- 12.4 North America Automotive Aftermarket Market, by Distribution Channel (2019-2032)
- 12.5 North America Automotive Aftermarket Market, by Vehicle Type (2019-2032)
- 12.6 North America Automotive Aftermarket Market, by Service Channel (2019-2032)
- 12.7 North America Automotive Aftermarket Market, by Certification (2019-2032)
- 12.8 North America Automotive Aftermarket Market, by Country (2019-2032)
- 12.8.1 U.S.
- 12.8.2 Canada
- 12.8.3 Mexico
- 12.8.4 Rest of North America
- SECTION 13 - EUROPE AUTOMOTIVE AFTERMARKET MARKET
- 13.1 Europe Summary
- 13.2 Market Attractive Index
- 13.3 Europe Automotive Aftermarket Market, by Replacement Parts (2019-2032)
- 13.4 Europe Automotive Aftermarket Market, by Distribution Channel (2019-2032)
- 13.5 Europe Automotive Aftermarket Market, by Vehicle Type (2019-2032)
- 13.6 Europe Automotive Aftermarket Market, by Service Channel (2019-2032)
- 13.7 Europe Automotive Aftermarket Market, by Certification (2019-2032)
- 13.8 Europe Automotive Aftermarket Market, by Country (2019-2032)
- 13.8.1 Germany
- 13.8.2 U.K.
- 13.8.3 France
- 13.8.4 Italy
- 13.8.5 Spain
- 13.8.6 Russia
- 13.8.7 The Netherlands
- 13.8.8 Belgium
- 13.8.9 Turkey
- 13.8.10 Rest of Europe
- SECTION 14 - ASIA-PACIFIC AUTOMOTIVE AFTERMARKET MARKET
- 14.1 Asia-Pacific Summary
- 14.2 Market Attractive Index
- 14.3 Asia-Pacific Automotive Aftermarket Market, by Replacement Parts (2019-2032)
- 14.4 Asia-Pacific Automotive Aftermarket Market, by Distribution Channel (2019-2032)
- 14.5 Asia-Pacific Automotive Aftermarket Market, by Vehicle Type (2019-2032)
- 14.6 Asia-Pacific Automotive Aftermarket Market, by Service Channel (2019-2032)
- 14.7 Asia-Pacific Automotive Aftermarket Market, by Certification (2019-2032)
- 14.8 Asia-Pacific Automotive Aftermarket Market, by Country (2019-2032)
- 14.8.1 China
- 14.8.2 India
- 14.8.3 Japan
- 14.8.4 South Korea
- 14.8.5 Singapore
- 14.8.6 Malaysia
- 14.8.7 Australia
- 14.8.8 Thailand
- 14.8.9 Philippines
- 14.8.10 Rest of Asia-Pacific
- SECTION 15 - SOUTH AMERICA AUTOMOTIVE AFTERMARKET MARKET
- 15.1 South America Summary
- 15.2 Market Attractive Index
- 15.3 South America Automotive Aftermarket Market, by Replacement Parts (2019-2032)
- 15.4 South America Automotive Aftermarket Market, by Distribution Channel (2019-2032)
- 15.5 South America Automotive Aftermarket Market, by Vehicle Type (2019-2032)
- 15.6 South America Automotive Aftermarket Market, by Service Channel (2019-2032)
- 15.7 South America Automotive Aftermarket Market, by Certification (2019-2032)
- 15.8 South America Automotive Aftermarket Market, by Country (2019-2032)
- 15.8.1 Brazil
- 15.8.2 Argentina
- 15.8.3 Chile
- 15.8.4 Colombia
- 15.8.5 Rest of South America
- SECTION 16 - MIDDLE EAST AND AFRICA AUTOMOTIVE AFTERMARKET MARKET
- 16.1 Middle East and Africa Summary
- 16.2 Market Attractive Index
- 16.3 Middle East and Africa Automotive Aftermarket Market, by Replacement Parts (2019-2032)
- 16.4 Middle East and Africa Automotive Aftermarket Market, by Distribution Channel (2019-2032)
- 16.5 Middle East and Africa Automotive Aftermarket Market, by Vehicle Type (2019-2032)
- 16.6 Middle East and Africa Automotive Aftermarket Market, by Service Channel (2019-2032)
- 16.7 Middle East and Africa Automotive Aftermarket Market, by Certification (2019-2032)
- 16.8 Middle East and Africa Automotive Aftermarket Market, by Country (2019-2032)
- 16.8.1 Kingdom of Saudi Arabia
- 16.8.2 South Africa
- 16.8.3 U.A.E.
- 16.8.4 Egypt
- 16.8.5 Rest of Middle East and Africa
- SECTION 17 - COMPANY SHARE ANALYSIS
- 17.1 Global Automotive Aftermarket Market, Company Share Analysis
- 17.2 North America Automotive Aftermarket Market, Company Share Analysis
- 17.3 Europe Automotive Aftermarket Market, Company Share Analysis
- 17.4 Asia-Pacific Automotive Aftermarket Market, Company Share Analysis
- SECTION 18 - COMPANY PROFILES
- 18.1 3M Company
- 18.1.1 Company Snapshot
- 18.1.2 Financial Overview
- 18.1.3 Product Portfolio
- 18.1.4 Recent Developments
- 18.2 Continental AG
- 18.2.1 Company Snapshot
- 18.2.2 Financial Overview
- 18.2.3 Product Portfolio
- 18.2.4 Recent Developments
- 18.3 Cooper Tire & Rubber Company
- 18.3.1 Company Snapshot
- 18.3.2 Financial Overview
- 18.3.3 Product Portfolio
- 18.3.4 Recent Developments
- 18.4 Denso Corporation
- 18.4.1 Company Snapshot
- 18.4.2 Financial Overview
- 18.4.3 Product Portfolio
- 18.4.4 Recent Developments
- 18.5 Federal-Mogul Corporation
- 18.5.1 Company Snapshot
- 18.5.2 Financial Overview
- 18.5.3 Product Portfolio
- 18.5.4 Recent Developments
- 18.6 HELLA KGaA Hueck & Co.
- 18.6.1 Company Snapshot
- 18.6.2 Financial Overview
- 18.6.3 Product Portfolio
- 18.6.4 Recent Developments
- 18.7 Robert Bosch GmbH
- 18.7.1 Company Snapshot
- 18.7.2 Financial Overview
- 18.7.3 Product Portfolio
- 18.7.4 Recent Developments
- 18.8 Valeo Group
- 18.8.1 Company Snapshot
- 18.8.2 Financial Overview
- 18.8.3 Product Portfolio
- 18.8.4 Recent Developments
- 18.9 ZF Friedrichshafen AG
- 18.9.1 Company Snapshot
- 18.9.2 Financial Overview
- 18.9.3 Product Portfolio
- 18.9.4 Recent Developments
- 18.10 Magna International Inc.
- 18.10.1 Company Snapshot
- 18.10.2 Financial Overview
- 18.10.3 Product Portfolio
- 18.10.4 Recent Developments
- SECTION 19 - RELATED REPORTS
- SECTION 20 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.