Automotive Aftermarket Industry Research Report – Forecast to 2030

Automotive Aftermarket Industry Information By Offering (Parts, Services), By Channel (Authorized Repair, Independent Repair), By Vehicle Age (0-4 years, 4-8 years, Above 8 years) and By Vehicle Type (Passenger Vehicle, Commercial Vehicle) - Global Forecast till 2030

ID: MRFR/AM/4790-CR | October 2020 | Region: Global | 100 Pages         

1 Executive Summary

2 Market Introduction

2.1 Definition 17

2.2 Scope of the Study 17

2.3 List of Assumptions 18

2.4 Market Structure 19

3 Research Methodology

3.1 Research Process 21

3.2 Primary Research 22

3.3 Secondary Research 23

3.4 Market Size Estimation 23

3.5 Forecast Model 24

3.6 Key Market Insights 25

4 Key Findings

5 Recommendations

5.1 Consolidation Among Parts Distributors 30

5.2 Digitization of channels and interfaces 30

5.3 Access to car-generated data 30

5.3.1 Deeper customer insights 30

5.3.2 Operational excellence. 31

5.3.3 Response recommendations and readiness 31

5.3.4 Predictive maintenance and remote on-board diagnostics. 31

5.3.5 New digital services. 31

5.4 Higher price transparency and greater diversity of supply for customers 31

5.4.1 Price transparency 31

5.4.2 Online sales 31

6 Market Dynamics

6.1 Drivers 34

6.1.1 High Quality and Low Cost 34

6.1.2 OEMs aggressively expanding their Aftermarket Activities 34

6.1.3 Competing Strategies 35

6.2 Restraint 35

6.2.1 Lack on Infrastructure and technology in the Emerging Regions 35

6.3 Trends 36

6.3.1 OEMs expanding their aftermarket activities 36

6.4 Opportunities 36

6.4.1 Increasing influence of (digital) intermediaries 36

7 Market Factor Analysis

7.1 Porter’s Five Forces Analysis 38

7.1.1 Threat of New Entrants 38

7.1.2 Bargaining Power of Suppliers 38

7.1.3 Threat of Substitutes 38

7.1.4 Bargaining Power of Buyers 38

7.1.5 Rivalry 39

7.2 Supply Chain Analysis 39

8 Global Automotive Aftermarket, By Offering

8.1 Overview 42

8.2 Parts 42

8.2.1 Tire 42

8.2.2 Brake parts 42

8.2.3 Battery 42

8.2.4 Body parts 42

8.2.5 Exhaust components 43

8.2.6 Electrical parts 43

8.2.7 Lighting parts 43

8.2.8 Engine parts 44

8.2.9 Filters 44

8.2.10 Others 44

8.3 Services 44

8.3.1 Accident repair 44

8.3.2 Wear and tear repairs 44

8.3.3 Mechanical/electronic repairs 44

8.3.4 Maintenance 45

8.3.5 Tire service 45

8.3.6 Consumables and accessories 45

9 Global Automotive Aftermarket, By Channel

9.1 Overview 48

9.1.1 Authorized repair 48

9.1.2 Independent repair 48

10 Global Automotive Aftermarket, By Vehicle Age

10.1 Overview 51

10.2 0-4 years 51

10.3 4-8 years 51

10.4 Above 8 years 51

11 Global Automotive Aftermarket, By Vehicle Type

11.1 Overview 54

11.1.1 Passenger vehicle 54

11.1.2 Commercial vehicle 54

12 Global Automotive Aftermarket, By Region

12.1 Introduction 56

12.2 North America 57

12.2.1 U.S. 60

12.2.2 Canada 61

12.3 Europe 63

12.3.1 Germany 65

12.3.2 U.K. 67

12.3.3 France 68

12.3.4 Spain 70

12.3.5 Italy 71

12.3.6 Rest of Europe 73

12.4 Asia Pacific 75

12.4.1 China 77

12.4.2 Japan 79

12.4.3 India 80

12.4.4 Rest of Asia Pacific 82

12.5 Rest of the World 84

12.5.1 Middle East & Africa 86

12.5.2 Latin America 88

13 Patent Trends

14 Competitive Landscape

14.1 Competitive Landscape 94

15 Company Profiles

15.1 Aisin Seiki Co., Ltd. 97

15.1.1 Company Overview 97

15.1.2 Financial Overview 97

15.1.3 Services Offerings 98

15.1.4 SWOT Analysis 98

15.1.5 Key Strategy 99

15.2 Valeo 100

15.2.1 Company Overview 100

15.2.2 Financial Overview 100

15.2.3 Product Offerings 101

15.2.4 Key Developments 102

15.2.5 SWOT Analysis 103

15.2.6 Key Strategy 103

15.3 Continental AG 104

15.3.1 Company Overview 104

15.3.2 Financial Overview 104

15.3.3 Product Offerings 105

15.3.4 Key Developments 105

15.3.5 SWOT Analysis 105

15.3.6 Key Strategy 105

15.4 3M 106

15.4.1 Company Overview 106

15.4.2 Financial Overview 106

15.4.3 Product Offerings 107

15.4.4 Key Developments 107

15.4.5 SWOT Analysis 107

15.4.6 Key Strategy 108

15.5 Denso Corporation 109

15.5.1 Company Overview 109

15.5.2 Financial Overview 109

15.5.3 Product Offerings 110

15.5.4 Key Developments 110

15.5.5 SWOT Analysis 111

15.5.6 Key Strategy 111

15.6 Cooper Tire & Rubber Company 112

15.6.1 Company Overview 112

15.6.2 Financial Overview 112

15.6.3 Product Offerings 113

15.6.4 Key Developments 114

15.6.5 SWOT Analysis 114

15.6.6 Key Strategy 114

15.7 Magneti Marelli S.p.A. 115

15.7.1 Company Overview 115

15.7.2 Financial Overview 115

15.7.3 Product Offerings 116

15.7.4 Key Developments 116

15.7.5 SWOT Analysis 117

15.7.6 Key Strategy 117

15.8 Sumitomo Electric Industries, Ltd. 118

15.8.1 Company Overview 118

15.8.2 Financial Overview 118

15.8.3 Product Offerings 119

15.8.4 SWOT Analysis 119

15.8.5 Key Strategy 119

15.9 Aptiv PLC 120

15.9.1 Company Overview 120

15.9.2 Financial Overview 120

15.9.3 Product Offerings 121

15.9.4 SWOT Analysis 122

15.9.5 Key Strategy 122

15.10 Federal-Mogul Corporation 123

15.10.1 Company Overview 123

15.10.2 Financial Overview 123

15.10.3 Product Offerings 124

15.10.4 Key Developments 125

15.10.5 SWOT Analysis 125

15.10.6 Key Strategy 125

15.11 MAHLE GmbH 126

15.11.1 Company Overview 126

15.11.2 Financial Overview 126

15.11.3 Product Offerings 127

15.11.4 SWOT Analysis 127

15.11.5 Key Strategy 127

15.12 Schaeffler AG 128

15.12.1 Company Overview 128

15.12.2 Financial Overview 128

15.12.3 Product Offerings 129

15.12.4 Key Developments 129

15.12.5 SWOT Analysis 130

15.12.6 Key Strategy 130

15.13 ACDelco 131

15.13.1 Company Overview 131

15.13.2 Financial Overview 131

15.13.3 Product Offerings 131

15.13.4 Key Developments 137

15.13.5 SWOT Analysis 137

15.13.6 Key Strategy 137

15.14 Robert Bosch GmbH 138

15.14.1 Company Overview 138

15.14.2 Financial Overview 138

15.14.3 Product Offerings 139

15.14.4 Key Developments 139

15.14.5 SWOT Analysis 140

15.14.6 Key Strategy 140

15.15 ZF Friedrichshafen AG 141

15.15.1 Company Overview 141

15.15.2 Financial Overview 141

15.15.3 Products Offerings 142

15.15.4 SWOT Analysis 142

15.15.5 Key Strategy 142

16 List of Tables

TABLE 1 MARKET SYNOPSIS 15

TABLE 2 LIST OF ASSUMPTIONS 18

TABLE 3 LEADING SERVICE SHARE TRANSACTION INDICES (2020) 26

TABLE 4 FUNCTIONS OF EXHAUST SYSTEM COMPONENTS 43

TABLE 5 GLOBAL AUTOMOTIVE AFTERMARKET, BY OFFERING, 2020-2027(USD BILLION) 45

TABLE 6 PARTS: GLOBAL AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027(USD BILLION) 46

TABLE 7 SERVICES: GLOBAL AUTOMOTIVE AFTERMARKET, BYOFFERINGS, 2020-2027(USD BILLION) 46

TABLE 8 GLOBAL AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027(USD BILLION) 49

TABLE 9 GLOBAL AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027(USD BILLION) 52

TABLE 10 GLOBAL AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027(USD BILLION) 54

TABLE 11 GLOBAL AUTOMOTIVE AFTERMARKET, BY REGION, 2020-2027(USD BILLION) 56

TABLE 12 NORTH AMERICA: AUTOMOTIVE AFTERMARKET, BY COUNTRY, 2020-2027 (USD BILLION) 57

TABLE 13 NORTH AMERICA: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 57

TABLE 14 PARTS: NORTH AMERICA: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 58

TABLE 15 SERVICES: NORTH AMERICA: AUTOMOTIVE AFTERMARKET, BYOFFERINGS, 2020-2027 (USD BILLION) 58

TABLE 16 NORTH AMERICA: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 58

TABLE 17 NORTH AMERICA: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 59

TABLE 18 NORTH AMERICA: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 59

TABLE 19 U.S.: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 60

TABLE 20 U.S.: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 60

TABLE 21 U.S.: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 60

TABLE 22 U.S.: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 61

TABLE 23 CANADA: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 61

TABLE 24 CANADA: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 61

TABLE 25 CANADA: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 62

TABLE 26 CANADA: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 62

TABLE 27 EUROPE: AUTOMOTIVE AFTERMARKET, BY COUNTRY, 2020-2027 (USD BILLION) 63

TABLE 28 EUROPE: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 63

TABLE 29 PARTS: EUROPE: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 64

TABLE 30 SERVICES: EUROPE: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 64

TABLE 31 EUROPE: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 64

TABLE 32 EUROPE: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 65

TABLE 33 EUROPE: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 65

TABLE 34 GERMANY: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 66

TABLE 35 GERMANY: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 66

TABLE 36 GERMANY: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 66

TABLE 37 GERMANY: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 67

TABLE 38 U.K.: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 67

TABLE 39 U.K.: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 67

TABLE 40 U.K.: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 68

TABLE 41 U.K.: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 68

TABLE 42 FRANCE: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 68

TABLE 43 FRANCE: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 69

TABLE 44 FRANCE: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 69

TABLE 45 FRANCE: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 69

TABLE 46 SPAIN: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 70

TABLE 47 SPAIN: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 70

TABLE 48 SPAIN: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 70

TABLE 49 SPAIN: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 71

TABLE 50 ITALY: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 71

TABLE 51 ITALY: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 72

TABLE 52 ITALY: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 72

TABLE 53 ITALY: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 72

TABLE 54 REST OF EUROPE: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 73

TABLE 55 REST OF EUROPE: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 73

TABLE 56 REST OF EUROPE: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 73

TABLE 57 REST OF EUROPE: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 74

TABLE 58 ASIA PACIFIC: AUTOMOTIVE AFTERMARKET, BY COUNTRY, 2020-2027 (USD BILLION) 75

TABLE 59 ASIA PACIFIC: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 75

TABLE 60 PARTS: ASIA-PACIFIC: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 76

TABLE 61 SERVICES: ASIA-PACIFIC: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 76

TABLE 62 ASIA PACIFIC: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 76

TABLE 63 ASIA PACIFIC: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 77

TABLE 64 ASIA PACIFIC: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 77

TABLE 65 CHINA: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 78

TABLE 66 CHINA: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 78

TABLE 67 CHINA: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 78

TABLE 68 CHINA: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 79

TABLE 69 JAPAN: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 79

TABLE 70 JAPAN: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 79

TABLE 71 JAPAN: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 80

TABLE 72 JAPAN: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 80

TABLE 73 INDIA: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 81

TABLE 74 INDIA: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 81

TABLE 75 INDIA: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 81

TABLE 76 INDIA: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 82

TABLE 77 REST OF ASIA PACIFIC: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 82

TABLE 78 REST OF ASIA PACIFIC: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 82

TABLE 79 REST OF ASIA PACIFIC: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 83

TABLE 80 REST OF ASIA PACIFIC: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 83

TABLE 81 REST OF THE WORLD: AUTOMOTIVE AFTERMARKET, BY COUNTRY, 2020-2027 (USD BILLION) 84

TABLE 82 REST OF THE WORLD: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 84

TABLE 83 PARTS: ROW: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 85

TABLE 84 SERVICES: ROW: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 85

TABLE 85 REST OF THE WORLD: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 85

TABLE 86 REST OF THE WORLD: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 86

TABLE 87 REST OF THE WORLD: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 86

TABLE 88 MIDDLE EAST AND AFRICA: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 87

TABLE 89 MIDDLE EAST AND AFRICA: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 87

TABLE 90 MIDDLE EAST AND AFRICA: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 87

TABLE 91 MIDDLE EAST AND AFRICA: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 88

TABLE 92 LATIN AMERICA: AUTOMOTIVE AFTERMARKET, BY OFFERINGS, 2020-2027 (USD BILLION) 88

TABLE 93 LATIN AMERICA: AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020-2027 (USD BILLION) 88

TABLE 94 LATIN AMERICA: AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020-2027 (USD BILLION) 89

TABLE 95 LATIN AMERICA: AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020-2027 (USD BILLION) 89

TABLE 96 MAJOR GRANTED PATENTS ON AUTOMOTIVE AFTERMARKET (MAY 29, 2013 – MAY 29, 2018) 91


17 Lisrt of Figures

FIGURE 1 GLOBAL AUTOMOTIVE AFTERMARKET: MARKET STRUCTURE 19

FIGURE 2 RESEARCH PROCESS OF MRFR 21

FIGURE 3 TOP DOWN & BOTTOM UP APPROACH 24

FIGURE 4 OLDER CAR OWNERS EXHIBIT DESIRABLE MAINTENANCE BEHAVIORS 25

FIGURE 5 HEADQUARTERS OF PARTICIPATING COMPANIES 25

FIGURE 6 GLOBAL REVENUE DISTRIBUTION OF PARTICIPATING COMPANIES 26

FIGURE 7 INVESTMENT TREND IN AUTOMOTIVE AFTERMARKET BY MAJOR MANUFACTURERS 26

FIGURE 8 DRIVER, RESTRAINT AND TRENDS: GLOBAL AUTOMOTIVE AFTERMARKET 33

FIGURE 9 POTER’S FIVE FORCES ANALYSIS 38

FIGURE 10 SUPPLY CHAIN ANALYSIS: AUTOMOTIVE AFTERMARKET 39

FIGURE 11 GLOBAL AUTOMOTIVE AFTERMARKET, BY OFFERING, 2020 (%) 45

FIGURE 12 GLOBAL AUTOMOTIVE AFTERMARKET, BY CHANNEL, 2020(%) 48

FIGURE 13 GLOBAL AUTOMOTIVE AFTERMARKET, BY VEHICLE AGE, 2020 (%) 51

FIGURE 14 GLOBAL AUTOMOTIVE AFTERMARKET, BY VEHICLE TYPE, 2020 (%) 54

FIGURE 15 GLOBAL AUTOMOTIVE AFTERMARKET, BY REGION TYPE, 2020 (%) 56

FIGURE 16 MARKET SHARE ANALYSIS, 2020 (%) 94

FIGURE 17 COMPETITORS BENCHMARKING ANALYSIS, 2020 95

Automotive Aftermarket

Automotive aftermarket Industry is expected to reach USD USD~500 Billion by 2027, registering a 4% CAGR during the assessment period (2020-2027).

Segmentation

By Offering Parts Services
By Channel Authorized Repair Independent Repair
By Vehicle 0 4 Years 4 8 Years Above 8 Years
By Vehicle Type Passenger Vehicle Commercial Vehicle

Key Players

  • Continental AG (Germany)
  • Aisin Seiki Co. Ltd. (Japan)
  • Robert Bosch GmbH (Germany)
  • 3M (U.S.)
  • Valeo (France)
  • Denso Corporation (Japan)
  • Magneti Marelli S.p.A. (Italy)
  • Cooper Tire & Rubber Company (U.S.)
  • Sumitomo Electric Industries Ltd. (Japan)
  • Federal-Mogul Corporation (U.S.)
  • Aptiv PLC (U.K.)

Drivers

  • Average vehicle age is likely to increase as economic pressures force consumers to postpone new-car purchases
  • Rapidly increasing automobile sales and escalating demand for international brands increases
  • Rising technological advances
  • alongside the growing penetration of internet and rapid digitalization
Speak to Analyst Request a Free Sample

Automotive Aftermarket Industry Overview:


Automotive aftermarket industry is expected to reach USD USD~500 Billion by 2027, registering a 4% CAGR during the assessment period (2020-2027). 


If you're wondering what automotive aftermarket is all about it's just a project to record momentous games witnessing rising sales of automobiles and how the demand for OME technologies has increased. The major factor that has contributed to automotive aftermarket industry growth is worldwide economic growth. Also automotive is one of the few businesses that allow it to perform even during the time of recession. The demand for spare parts is always high during the spring season. Not just in the spring season but throughout the year because Western weather is usually cold.


COVID 19 Analysis


As for the current time of COVID 19 the automotive aftermarket industry has severely been affected by the overall situation. This pandemic has deceived the force of the automotive sector to reduce the output and their production plants. The lockdown period proved to be very severe prompting various automotive aftermarket suppliers to stay back in the production especially in some areas.


Covid-19 has led to a long-term disruption. But it is expected that the boost will take place in 2021 by increasing personal vehicle sales and when life goes back to normal there will be an increase for vehicles needing frequent repairs. It is expected to be normal with traffic returning to the roads post lockdown.


Market Dynamics


Drivers


The global market is growing tremendously. Various factors influence the growth of the automotive aftermarket industry. These factors include reasons such as rapid growing automobile sales and escalating demands from all over the world such as international brands. Increase in the global industry by rising technological advances along with this there is a growing internet and the browsing world. In addition to all this rapid digitalization has increased the automotive aftermarket size. Continuous economic growth worldwide is considered as the major factor contributing to the growth of the automotive aftermarket.


Opportunities


The global market is growing tremendously. Various factors act as opportunities for further growth. These opportunities include lowering fuel prices and personal vehicles replaced by public transport due to the environmental threat which is outdoing cost and convenience considerations.


Restraints


The global market is growing tremendously. There are hindrances in the part of growth such as reduction in the sales due to increased government incentives. An increase in government incentives better imposed for new vehicle purchases has only resulted in a steep decline in the number of older workers who were required by the aftermarket services.


Value Chain Analysis


Automotive aftermarket industries are growing up early in the global world. Some benefits include repairing older vehicles, developing a bigger network, and adding up to the luxury expenditure.


Market Segmentation


The global market has been segmented into various types based on type, vehicle age, vehicle type, and region.


Based On The Type


The global market has been divided based on type into offering and channel. According to the estimated data the offering is further classified into parts and services. The channel segment is further classified as authorized repair and independent repair.


Based On The Vehicle Age


The global market has been divided based on vehicle age into 0-4 years, 4 - 8 years, and above 8 years.


Based On The Vehicle Type


The global market has been divided based on vehicle type into passenger vehicles and commercial vehicles.


Based On The Region


The global market has been divided based on region into North America Europe Asia Pacific and the rest of the world.


Regional Analysis


The automatic aftermarket industry in the global market has been divided based on region into North America, Europe, Asia Pacific, and the rest of the world. North America. According to the automotive aftermarket industry analysis proves to remain a dominant market. Factors include the strong presence of all the major market players. The presence of components in auto solution providers also drives the market size even bigger.


Followed by the country of Europe it is the second biggest market in the automotive aftermarket industry. The factors that drive the increase of market value are the presence of well-established automotive sectors and automotive industry players. Other factors include the increase in spending on luxury cars along with the demand for lightweight and fuel-efficient vehicles in the regions of Europe.


The Asia-Pacific region stands third in the emerging market of the automotive aftermarket industry. Heading to the automotive sector is in this region. It is believed that advances in technology are an important factor. China has the lead in the APAC automotive aftermarket which is followed by the countries of India and South Korea.


Competitive Landscape


The most prominent key players in the automotive aftermarket industry are as follows-



  • Continental AG (Germany)

  • Aisin Seiki Co. Ltd. (Japan)

  • Robert Bosch GmbH (Germany)

  • 3M (U.S.)

  • Valeo (France)

  • Denso Corporation (Japan)

  • Magneti Marelli S.p.A. (Italy)

  • Cooper Tire & Rubber Company (U.S.)

  • Sumitomo Electric Industries Ltd. (Japan)

  • Federal-Mogul Corporation (U.S.)

  • Aptiv PLC (U.K.)


These most prominent major key players in the global market use various strategies to cater to the increasing need of the customer. They use various policies and strategies like innovation in the existing product, expansion of business,  collaborations, mergers, and acquisitions, and partnerships to increase their customer base in the global potential market.


Recent Developments


The automotive distribution network partnered with RepairPal which is an auto repair network of certified mechanics and shops. This partnership helped the automotive distribution network to expand even further. This expansion led to a broader customer base and increased repair revenue.


Other advancements were made in Best Buy which has added Novalex and Candid Auto Parts as full members shareholders. These companies are Novalex INC. Is known as the most established department store owner which serves the automotive aftermarket with various locations in Burlington and Milton Ontario. This for the experience of the customer base in different locations.


Also, Chevrolet in India announced its plan that it was going to continue to provide after-sales support to customers throughout the year 2021. Also beyond this network of others is the service operations and parts distributors that have been accessed in India in around 142 cities.


Other companies that partnered with each other are BOLT On technology which is one of the most leading automotive aftermarket technology solutions suppliers. Dan owns their apartment or the top e electronic payment processing company worldwide. This partnership profited in a way that enabled BOLT On to give access to all the global payments.


Report Overview


The global automotive aftermarket industry research report consists of the following elements:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


Intended Audience


This global automotive aftermarket industry research report consists of the factors that drive the global market along with the factors that restrict the global market. This report also contains various growth opportunities in the global market during the forecasted period. The impact of COVID 19 on the market is also estimated. The future growth rate of the global market is mentioned.



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2027: USD 500 Billion
  • 2030 : Significant value
  •   CAGR   4.% CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Offering, Channel, Vehicle Age, Vehicle Type
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Continental AG (Germany), Aisin Seiki Co. Ltd. (Japan), Robert Bosch GmbH (Germany), 3M (U.S.), Valeo (France), Denso Corporation (Japan), Magneti Marelli S.p.A. (Italy), Cooper Tire & Rubber Company (U.S.), Sumitomo Electric Industries Ltd. (Japan), Federal-Mogul Corporation (U.S.), Aptiv PLC (U.K.)
      Key Market Opportunities   Average vehicle age is likely to increase as economic pressures force consumers to postpone new-car purchases
      Key Market Drivers

  • Rapidly increasing automobile sales and escalating demand for international brands increases
  • Rising technological advances, alongside the growing penetration of internet and rapid digitalization


  • Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :

    The Estimated CAGR of the automotive aftermarket industry mentioned in the research report is estimated to be approximately 4.40 percent. The cagr is expected in the estimated forecasted period of 2017 to 2023. Also, there is an estimated or expected reach of USD 1000 billion by the year 2027.

    The automotive aftermarket is a simple project to record moments of games witnessing rising sales of automobiles and the demands of OEM technologies. Many factors impact automotive aftermarket trends but to mention one, it is the significant impact of economic growth.

    The one major factor to be mentioned that drives the automotive aftermarket industry is the increasing automobile sales that are vacuolating demand for all the international brands which directly impacts the market. This impact increases the automotive aftermarket industry revenue.

    The prominent players in the automotive aftermarket industry are as follows- Continental AG (Germany),Aisin Seiki Co. Ltd. (Japan),Robert Bosch GmbH (Germany),3M (U.S.),Valeo (France),Denso Corporation (Japan),Magneti Marelli S.p.A. (Italy),Cooper Tire & Rubber Company (U.S.),Sumitomo Electric Industries Ltd. (Japan),Federal-Mogul Corporation (U.S.),Aptiv PLC (U.K.)

    It is expected that the value of the market by the end of the review timeframe will be more than $1000bn.

    Global Automotive Aftermarket: Competitive Landscape


    Aisin Seiki Co., Ltd., Valeo, Continental AG, 3M, and Denso Corporation are the major five players operating in the global automotive aftermarket in 2017. High-quality and competing on a on a low-cost strategy are the two driving factors of the market. These companies continue to retain their strong global presence through expansion, merger & acquisition, partnership & collaboration, and extensive product portfolio.


    Aisin Seiki Co. Ltd. is a leading company in this market. They offer a wide range of products that increases the value and performance of the company. The company offers transmissions, clutches, disc brakes, ABS, suspensions, oil pumps, power windows, and power door locks. Aisin Seiki Co., Ltd. is headquartered in Japan. The firm had an employee strength of approximately 100000 individuals as of 2016. Aisin's main automotive business offers automotive-related products such as transmissions, brakes, and engine and car navigation systems. The company has around 180 consolidated subsidiaries and companies, worldwide. The company has adopted diversification as a strategy to cater to a wide range of customers. In 2014 it established new subsidiaries in Indonesia and began constructing a new facility in Brazil. The company focuses to combine and link its individual businesses, strengthening and maximizing the potential of the products and technologies that are cultivated by each company.


    Valeo is engaged in designing, manufacture, and marketing of comfort & driving assistance systems, powertrain systems, thermal systems and visibility systems and automotive products. The company is an automotive supplier and partner to various automakers with more than 155 production sites in 32 countries such as China, India, Japan, Russia, U.S., Brazil, France, Spain, and other countries of Europe, and Africa. Peiker Acustic GmbH & Co. KG, Valeo Thermal Systems Japan Corporation, and Valeo Pyeong Hwa Co., Ltd are some of the subsidiaries of the company. The company has used its expertise in innovative products, systems, and solutions that reduce automobile CO₂ emissions, improve vehicle performance, and develop intuitive driving. The company has adopted expansion as their strategy to cater to a wide range of customers. The key focus remains on applying these technologies and technical know-how to the automotive segment, which exhibits growth potential, in an effort to expand its business.


    Continental AG is engaged in the manufacture and supply of the tires, brake systems, interior electronics, automotive safety, powertrain and chassis components, and other parts for the automotive and transportation industries. The company operates in 427 locations across 56 countries such as China, India, France, Germany, Canada and U.S. ContiTech, Vergolst, and Continental Emitec GmbH are some of the subsidiaries of the company. The company offers safe, efficient, intelligent and affordable solutions for vehicles, machines, traffic, and transport. Continental AG is headquartered in Germany. The firm had an employee strength of approximately 235,000 individuals as of 2016. The company intends to continue to increase its market share in the current business lines and related business lines through product development and internal growth.


    3M operates in electronics, telecommunications, industrial, consumer and office, healthcare, safety, and other markets. The company operates under five business segments, namely, Industrial; Safety and Graphics; Electronics and Energy; and Health Care. 3M has more than 80 manufacturing plants in about 30 US states and operates +120 manufacturing and converting facilities in about 35 other countries across Asia-Pacific; Europe, Middle East, and Africa (EMEA); Latin America; and elsewhere in North America. 3M is geographically located in US. The firm had an employee strength of approximately 91,500 individuals as of 2016.  The company has adopted acquisitions as their strategy to cater to a wide range of customers. To focus on its core high-growth operations and reduction of its exposure to the consumer and electronics markets over the last several years, 3M has sold off 14 businesses while making a number of expensive acquisitions.


    Denso Corporation is engaged in the manufacture and supply of advanced automotive technologies, systems, and components for major automobile manufacturers. Denso Corporation has 191 sites all over the world, as of 2016. The company operates through major business segments such as powertrain control, thermal, information & safety, electronics, small motors and new business. Denso Corporation is headquartered in Japan. The firm has an employee strength of approximately 151,000 individuals as of 2016. Denso Corporation has presence in countries such as China, Japan, U.S., Canada, U.K., Germany, Italy, and South Africa. The company has adopted new product development as their strategy to cater to a wide range of customers. The company is working to reduce heat loss caused by air ventilation and to minimize air-conditioning capacity by directing, both the heating and cooling functions solely to passengers, and by promoting increased power-saving capabilities. In 2018, the company announced two new thermal product groups for DENSO EUROPE — resistors and HVAC actuators.


    The growth of the market vendors is dependent on market conditions, government support, and industry development. Players focus on strengthening their presence worldwide through partnership & collaboration followed by mergers & acquisitions during the forecast period. These strategies are widely adopted to increase their presence and the customer base. The competitive environment in the market is likely to intensify further due to new product development and business expansion.