Automotive Aftermarket Size By Product (Replacement Parts [Belt, Brakes, Clutch, Electrical Parts, Lighting, Electrical & AC Parts, Exhaust, Filters, Suspensions, Transmission, Wiper Parts], Accessories [Car Exteriors, Car Interiors]), By Sales Outlet (Professional [Quick Lubes, Garages & Service Stations, Automobile Dealerships, Government, Commercial Fleets & Other Professional Outlets], DIY [Discount Department Stores, Auto Parts Stores],OEM Factory Fill), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Aug 2021  |  Report ID: GMI1166  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 220   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Automotive Aftermarket size exceeded USD 535 billion in 2020 and is estimated to exhibit 6.2% CAGR from 2021 to 2027. The increasing customer expectations, ongoing technological innovations, and rising competition across the automotive industry are the major factors fueling the industry expansion.
 

The increasing demand for automobiles from emerging countries is anticipated to enhance the industry growth. Technology advancement and usage of various eco-friendly techniques used in automotive production due to the various environmental regulations is likely to boost the demand for alternative automotive parts.
 

Automotive Aftermarket

Get more details on this report - Request Free Sample PDF
 

The shift in consumer preferences to upgrade the existing cars with new technologies is also expected to propel the market demand. The increasing popularity of connectivity/telematics, ADAS, info-, and entertainment systems among the young generation is further supporting the market development.
 

The increasing competition among the automotive industry is driving the exponential development of online sales platforms for automotive components. The online portals offer product and price comparison for best buying decision. Convenience of online shopping coupled with no-cost ship-to-store pricing is the major factor fostering0 the aftermarket product sales.
 

Rising demand for replacement parts will complement the industry statistics

Replacement parts segment is set to dominate the industry with around 80% of the automotive aftermarket revenue share in 2027. The increasing requirements of maintenance and services owing to excessive strain by poor road conditions and vehicles’ aging will provide a positive outlook for aftermarket components. Factors, such as low production cost, rising number of manufacturers, and increasing number of accidents, are spurring the market revenue.
 

The increasing adoption of professional sales outlets

Automotive Aftermarket, By Sales Outlet

Get more details on this report - Request Free Sample PDF
 

The professional outlets are poised to generate more than USD 515 billion revenue by 2027. Consumer preferences for economical services, advantages of being closer to home, and personalized services are anticipated to augment the market growth. Service quality, high-quality parts, and technical skills are the major factors propelling the professional outlets revenue growth.
 

The garages & service stations segment is projected to register a growth rate of nearly 6% through 2027. This includes the company’s authorized service stations and workshops that provide a series of maintenance procedures, which are carried out when a vehicle has traveled a certain distance. The increasing necessity for engine tuning, replacement of air filters, spark plugs, fuel filters, engine oils, car washing, and lubricating & greasing of the aging vehicles is boosting the segment growth.
 

The low operating cost is a considerable factor bolstering the product development in the DIY segment. Consumer awareness toward the online upkeep tutorials is one of the key factors enhancing the automotive aftermarket size. The ease in operations and easy availability of replacement parts, such as changing tires, oil, and mirrors, along with minimum application & handling of tools, are fueling the do-it-yourself sales outlet market size.
 

Asia Pacific to witness significant growth

Automotive Aftermarket, By Region

Get more details on this report - Request Free Sample PDF
 

Asia Pacific automotive aftermarket size is set to expand at above 7% CAGR through 2027. The rise in the sales of electric, hybrid, and gas-based vehicles owing to the shifting interest toward energy-efficient vehicles is spurring the regional market penetration. Digitization and customization of vehicles and increasing demand for Bluetooth devices and various other electronic accessories are driving the industry statistics.
 

North America market accounted for over USD 180 billion in in 2020 led by the increasing production of new vehicle coupled with upgradation of old vehicles, which are still in use. The ongoing technological innovations in the automotive sector are expected to create opportunities for aftermarket companies to enhance their business globally.
 

European industry is predicted to observe exponential growth as the region holds a noteworthy demand for advanced technologies, engine heaters, customization items, vintage car parts, and truck aftermarket items. The key aftermarket players are offering innovative products & services through online channels.
 

Product expansion is one of the major strategic outlooks

A high degree of competition is present in the industry. Companies are also expanding their presence in emerging economies to meet the growing need. Some of the major manufacturers include 3M, Robert Bosch GmbH, Denso Corporation, Continental AG, Hyundai Mobis Co., Ltd., ACDelco, Lear Corporation, ALCO Filters Ltd., Akebono Brake Corporation, Aisin Seiki, Toyota Motor Corporation, and Delphi Automotive PLC.
 

The automotive parts manufacturers and several auto care brands are forming strategic collaborations to offer a wide range of vehicle care products. This enables manufacturers to enhance their presence in several regions worldwide.
 

This industry research report on automotive aftermarket includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2017 to 2027 for the following segments:

Industry Analysis, By Product

  • Replacement parts
    • Belt
    • Brakes
    • Clutch
    • Electrical parts
    • Lighting
    • Engine & AC parts
    • Exhaust
    • Filters
    • Suspensions
    • Transmission
    • Wiper parts
    • Others
  • Accessories
    • Car exteriors
    • Car interiors

Industry Analysis, By Sales Outlet

  • Professional
    • Quick lubes
    • Garages & service stations
    • Automobile dealerships
    • Government
    • Commercial fleets & other professional outlets
  • DIY
    • Discount department stores
    • Auto parts stores
  • OEM Factory fill

Industry Analysis, By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • Russia
    • Poland
    • France
  • Asia Pacific
    • China
    • India
    • South Korea
    • Japan
    • Indonesia
    • Thailand
    • Malaysia
    • Vietnam
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia

 

Frequently Asked Questions (FAQ) :

The automotive aftermarket size valued at USD 535 billion in 2020 and will grow at over 6.2% CAGR up to 2027.
Replacement parts segment is expected to hold over 80% of the overall market share through 2027 owing to the higher need for maintenance and services.
The automotive aftermarket size from professional outlets could cross a valuation of USD 515 billion by 2027 due to the rising consumer preferences for economical and personalized services.
The automotive aftermarket size in Asia Pacific will grow at more than 7% CAGR up to 2027 fueled by the mount in the sales of electric, hybrid, and gas-based vehicles in the region.

Premium Report Details

  • Published Date: Aug 2021
  • Pages: 220
  • Tables: 280
  • Charts / Figures: 13
  • Companies covered: 24
  • Countries covered: 21

Get a report that explains COVID-19 impact on this market

Buy Now

Need a Discount? Get in touch with us for special pricing

Request Discount

 Connect with our sales team

Chat with us
We use cookies to enhance user experience. (Privacy Policy) X