United States Aftermarket Automotive Parts and Components market Size was valued at USD 208.2 Billion in 2022. The United States Aftermarket Automotive Parts and Components market industry is projected to grow from USD 217.56 Billion in 2023 to USD 309.40 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.50% during the forecast period (2024 - 2032). The increasing demand for vehicle customization and performance enhancement, coupled with a rising trend in DIY automotive projects, is the main market drivers anticipated to propel the United States Aftermarket Automotive Parts and Components market in the United States.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The advent of digital platforms has simplified the entire aftermarket shopping experience. Consumers can now browse a vast array of products, compare prices, read reviews, and make informed decisions from the comfort of their homes. Online marketplaces and dedicated e-commerce platforms for aftermarket automotive parts provide a centralized hub for buyers and sellers, creating a convenient and efficient marketplace. This digital shift has also given rise to innovative solutions, such as augmented reality (AR) and virtual reality (VR) applications. These technologies enable consumers to visualize how specific aftermarket components would look on their vehicles before making a purchase. This not only enhances the overall customer experience but also reduces the likelihood of returns and dissatisfaction. Furthermore, the integration of sophisticated data analytics and artificial intelligence (AI) in online platforms allows for personalized recommendations based on a customer's vehicle model, driving habits, and preferences. This level of customization enhances customer satisfaction and fosters brand loyalty. Digital platforms also facilitate streamlined inventory management for retailers, reducing costs and minimizing the risk of stockouts or overstock situations.
Another prominent trend in the United States Aftermarket Automotive Parts and Components market is the increasing focus on sustainability and eco-friendly solutions. As global awareness of environmental issues grows, consumers are becoming more conscious of the environmental impact of their vehicle choices and aftermarket modifications. This shift in consumer sentiment has led to a surge in demand for sustainable and green aftermarket options. Manufacturers are responding to this trend by developing aftermarket components that prioritize energy efficiency, reduced emissions, and recyclability. For instance, there is a growing market for eco-friendly exhaust systems, catalytic converters, and air filters designed to enhance fuel efficiency and decrease harmful emissions.
The United States Aftermarket Automotive Parts and Components market segmentation, based on Vehicle Type, includes Passenger Cars and Commercial Vehicles. The passenger cars segment dominated the market mostly. This is due to the sheer volume of passenger cars on the roads globally and the higher frequency of customization and aftermarket modifications among individual car owners. Passenger cars often serve as a means of personal expression, and consumers are more inclined to invest in aftermarket components to enhance performance, aesthetics, and comfort. The aftermarket for passenger cars benefits from a broad consumer base, ranging from enthusiasts seeking performance upgrades to individuals looking to personalize their vehicles. As a result, the passenger car segment tends to have a larger aftermarket ecosystem compared to commercial vehicles.
The United States Aftermarket Automotive Parts and Components market segmentation, based on Application, includes Engine Components, Transmission, Interior, Exterior, and Other Applications. The interior segment dominated the market. This is attributed to the growing emphasis on comfort, convenience, and personalization among vehicle owners. Interior aftermarket modifications include a wide range of products, such as custom seat covers, upgraded entertainment systems, steering wheel covers, and interior lighting enhancements. As consumers spend a significant amount of time inside their vehicles, the demand for aftermarket interior components is consistently high. The desire for a more comfortable and aesthetically pleasing driving experience drives the dominance of the interior components segment within the aftermarket.
The United States Aftermarket Automotive Parts and Components market segmentation, based on Sales Channel includes Online and Offline. The dominant segment in the sales channel category is online. The rise of e-commerce and digital platforms has transformed the United States Aftermarket Automotive Parts and Components market. Online sales channels offer a convenient and accessible way for consumers to explore, compare, and purchase aftermarket products from the comfort of their homes. The extensive product information, customer reviews, and price transparency provided by online platforms contribute to a better-informed purchasing decision. Additionally, the integration of advanced technologies like augmented reality for virtual product visualization further enhances the online shopping experience. The convenience, accessibility, and technological advancements associated with online sales channels make them the dominating segment in the distribution of aftermarket automotive parts.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The United States Aftermarket Automotive Parts and Components market is experiencing significant growth in the United States for several reasons. The cultural affinity towards personalization and customization of vehicles is deeply embedded in American automotive enthusiasts. This trend fuels the demand for aftermarket components, ranging from performance upgrades to aesthetic modifications. The aging vehicle fleet in the United States plays a crucial role in driving aftermarket sales. As vehicles age, there is a natural increase in the need for replacement parts and upgrades, contributing to sustained market growth.
Moreover, the robust e-commerce infrastructure in the United States has facilitated the surge in online sales of aftermarket automotive parts. Consumers prefer the convenience of browsing and purchasing products online, supported by well-established e-commerce platforms and efficient logistics networks. Additionally, the emphasis on DIY (Do It Yourself) automotive projects is gaining traction, with a growing number of enthusiasts opting to modify and maintain their vehicles independently. This DIY culture further propels the aftermarket automotive parts market, fostering a strong and resilient industry in the United States.
Leading market players are focusing on developing innovative aftermarket components that cater to emerging trends and consumer preferences. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new Vehicle Type launches, customer support, after-sales services, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the United States Aftermarket Automotive Parts and Components industry must offer cost-effective items.
Major players in the United States Aftermarket Automotive Parts and Components market are attempting to increase market demand by investing in research and development operations, including Adient PLC, Aisin World Corp. of America, American Axle & Manufacturing Holdings Inc., Aptiv PLC, Continental AG, DENSO Corporation, Faurecia, Flex-N-Gate Corporation, Lear Corporation, Magna International Inc., Panasonic Automotive Systems Company of America, Robert Bosch GmbH, Yazaki North America Inc., and ZF Friedrichshafen AG.
December 2022: BorgWarner Inc. unveiled plans to separate its Fuel Systems and Aftermarket businesses into a distinct publicly traded entity referred to as "NewCo." NewCo aims to leverage growth opportunities in gasoline direct injection (GDI) and hydrogen injection systems. BorgWarner anticipates that this strategic move will contribute to achieving or surpassing its 2025 target of securing 25% of revenue from Electric Vehicles (EVs).
August 2022: Cummins Inc. successfully concluded its acquisition of Meritor, Inc., positioning itself as a prominent provider of integrated powertrain solutions spanning internal combustion and electric power applications. With the integration of Meritor's expertise in axle and brake technology, Cummins aims to deliver cutting-edge ePowertrain solutions globally. The acquisition enables Cummins to enhance its New Power business, utilizing a strengthened global presence to accelerate growth in core axle and brake segments, serving various industries such as commercial trucks, trailers, off-highway, defense, specialty, and the aftermarket.
June 2022: Meritor, Inc. introduced the ProTec Independent Front Suspension (IFS) tailored for motorcoach applications. The MIS-20E, Meritor's inaugural suspension system designed specifically for the unique ride quality and heavy load demands of motorcoaches, serves as a seamless replacement for bus and coach manufacturers. Boasting a Gross Axle Weight Rating (GAWR) of up to 20,000 pounds, the ProTec IFS features twin-tube performance dampers for optimal control and comfort, contributing to extended tire life. This product represents a significant advancement, incorporating proven technology to meet the evolving needs of the motorcoach industry.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 208.2ย Billion |
| Market Size 2023 | USD 217.56 Billion |
| Market Size 2032 | USD 309.40 Billion |
| Compound Annual Growth Rate (CAGR) | 4.50% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Vehicle Type and Region |
| Countries Covered | United States |
| Key Companies Profiled | Adient PLC, Aisin World Corp. of America, American Axle & Manufacturing Holdings Inc., Aptiv PLC, Continental AG, DENSO Corporation, Faurecia, Flex-N-Gate Corporation, Lear Corporation, Magna International Inc., Panasonic Automotive Systems Company of America, Robert Bosch GmbH, Yazaki North America Inc., and ZF Friedrichshafen AG |
| Key Market Opportunities | The rapid evolution of automotive technology presents opportunities The increasing preference for online shopping and the growth of e-commerce platforms present a significant opportunity |
| Key Market Dynamics | The aging vehicle fleet in the United States is a significant driver for the aftermarket market. The strong cultural inclination towards vehicle customization in the United States acts as a driving force for the aftermarket automotive parts market. |
Frequently Asked Questions (FAQ) :
The United States Aftermarket Automotive Parts and Components market size was valued at USD 217.56 Billion in 2023.
The market is projected to grow at a CAGR of 4.50% during the forecast period 2024-2032.
The key players in the market are Adient PLC, Aisin World Corp. of America, American Axle & Manufacturing Holdings Inc., Aptiv PLC, Continental AG, DENSO Corporation, Faurecia, Flex-N-Gate Corporation, Lear Corporation, Magna International Inc., Panasonic Automotive Systems Company of America, Robert Bosch GmbH, Yazaki North America Inc., and ZF Friedrichshafen AG, among others.
The passenger category dominated the market in 2023.
The interior category dominated the market in 2023.
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