The global automotive aftermarket size is expected to be worth around US$ 550.25 billion by 2030, according to a new report by Vision Research Reports.
The global automotive aftermarket size was valued at US$ 395.10 billion in 2020 and is anticipated to grow at a CAGR of 4.8% during forecast period 2021 to 2030.
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Report Coverage
| Report Scope | Details |
| Market Size | USD 550.25 billion by 2030 |
| Growth Rate | CAGR of 4.8% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Replacement parts, Distribution channel, Certification, Service Channel, |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | 3M Company; Continental AG; Cooper Tire & Rubber Company; Delphi Automotive PLC; Denso Corporation; Federal-Mogul Corporation; HELLA KGaA Hueck & Co.; Robert Bosch GmbH; Valeo Group; ZF Friedrichshafen AG |
Growth Factors
Digitalization of automotive repair & component sales complemented by advanced technology incorporations in the automobile aftermarket component manufacturing is expected to boost the market growth. The surging reception of semi-autonomous, EV and hybrid and autonomous cars in the years to come is further expected to bolster the demand for new components.
Furthermore, the increasing vehicle penetration is driven by the overall improvement of lifestyle in developing countries, such as India and Brazil, and is expected to drive the growth of the automobile industry in these regions. Similar surges in the automotive manufacturing sector across various regions along with the increasingly stringent emissions norms are expected to drive the growth of the aftermarket component sales over the forecast period.
By Replacement Parts Analysis
In terms of market size, the others segment accounted the market with a share of 50.19% in 2020. The tire segment would be the largest in terms of the replacement part and is anticipated to dominate the market in terms of size.
The aftermarket replacement part suppliers comprise various accessories suppliers, lubricants, tire suppliers, and other component replacement suppliers. Further, the industry value chain comprises service enablers such as repairing services providers and entertainment service providers.
Growth in the disposable proceeds of patrons in developing nations, such as China and Brazil, is expected to positively impact the growth rate of the market. The growing demand for locomotives is projected to trigger the demand for automobile component sales.
By Distribution Channel Analysis
In terms of market size, the retail segment accounted the market with a share of 58.2% in 2020. The retail segment is anticipated to dominate the market arena in terms of size by 2028. The Wholesale and distribution segment would witness relatively fast growth in terms of revenue from 2021 to 2028.
The increasing influence of technological advancement is transforming the market towards digitization. The aftermarket is going online, and the marketplace is changing. Parts and services are being sold online. Every player in the value chain such as Original Equipment Manufacturers (OEMs), Original Equipment Suppliers (OESs),
By Service Channel Analysis
In terms of market size, the original equipment segment accounted the market with a share of 73.9% in 2020. The OE segment is anticipated to dominate the aftermarket arena in terms of size by 2028. The DIY segment would witness relatively fast growth in terms of revenue from 2021 to 2028.
The aftermarket service channel comprises members such as raw material suppliers, tier 1 distributors, automobile exhaust hubs/ manufacturing units, and aftermarket units comprising jobbers and ultimately the repair shops. Repair centers are the important stakeholders in the service channel.
By Certification Analysis
In terms of market size, the genuine parts segment accounted the market with a share of 53.2% in 2020. The genuine parts segment is anticipated to dominate the aftermarket arena in terms of size by 2028. The uncertified segment would witness relatively fast growth in terms of revenue from 2021 to 2030.
Certified parts are cost-effective alternatives to costly genuine parts. Uncertified parts can be used instead of the original automotive parts. Uncertified parts are not approved by the carmaker. However, the low cost of uncertified parts creates significant growth opportunities for the segment in the forthcoming years.
By Regional Analysis
Asia Pacific accounted the market with a revenue share of 29.0% in 2020. Asia Pacific market is also expected to deliver significant growth from 2021 to 2030. Advanced technology usage in the fabrication of auto parts, a surge in consumer and passenger automobile production and sales, and digitalization of automotive component delivery services are anticipated to spur automotive sales in the region.
The prototype is anticipated to show better results than the existing automobiles. Such rules have pressurized the component suppliers to produce environment-friendly, high-efficiency automotive components for the native and global markets. Over the past few years, emerging economies, comprising China, India, and Brazil, have validated insistent developments, which are expected to bid on thriving prospects to the segment growth in the Asia Pacific region.
Key Players
Market Segmentation
Table of Contents
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Automotive Aftermarket, By Replacement Parts
7.1. Automotive Aftermarket, by Replacement Parts, 2021-2030
7.1.1. Tire
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Battery
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Brake Parts
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. Filters
7.1.4.1. Market Revenue and Forecast (2017-2030)
7.1.5. Body Parts
7.1.5.1. Market Revenue and Forecast (2017-2030)
7.1.6. Lighting & Electronic Components
7.1.6.1. Market Revenue and Forecast (2017-2030)
7.1.7. Wheels
7.1.7.1. Market Revenue and Forecast (2017-2030)
7.1.8. Exhaust Components
7.1.8.1. Market Revenue and Forecast (2017-2030)
7.1.9. Turbochargers
7.1.9.1. Market Revenue and Forecast (2017-2030)
7.1.10. Others
7.1.10.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Automotive Aftermarket, By Distribution Channel
8.1. Automotive Aftermarket, by Distribution Channel, 2021-2030
8.1.1. Retailers
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Wholesalers & Distributors
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Automotive Aftermarket, By Service Channel
9.1. Automotive Aftermarket, by Service Channel, 2021-2030
9.1.1. DIY (Do it Yourself)
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. DIFM (Do it for Me)
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. OE (Delegating to OEM’s)
9.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Automotive Aftermarket, By Certification
10.1. Automotive Aftermarket, by Certification, 2021-2030
10.1.1. Genuine Parts
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Certified Parts
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Uncertified Parts
10.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Automotive Aftermarket, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.1.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.1.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.1.4. Market Revenue and Forecast, by Certification (2017-2030)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.1.5.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.1.5.4. Market Revenue and Forecast, by Certification (2017-2030)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.1.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.1.6.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.1.6.4. Market Revenue and Forecast, by Certification (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.2.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.2.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.2.4. Market Revenue and Forecast, by Certification (2017-2030)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.2.5.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.2.5.4. Market Revenue and Forecast, by Certification (2017-2030)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.2.6.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.2.6.4. Market Revenue and Forecast, by Certification (2017-2030)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.2.7.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.2.7.4. Market Revenue and Forecast, by Certification (2017-2030)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.2.8.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.2.8.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.2.8.4. Market Revenue and Forecast, by Certification (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.3.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.3.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.3.4. Market Revenue and Forecast, by Certification (2017-2030)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.3.5.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.3.5.4. Market Revenue and Forecast, by Certification (2017-2030)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.3.6.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.3.6.4. Market Revenue and Forecast, by Certification (2017-2030)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.3.7.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.3.7.4. Market Revenue and Forecast, by Certification (2017-2030)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.3.8.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.3.8.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.3.8.4. Market Revenue and Forecast, by Certification (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.4.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.4.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.4.4. Market Revenue and Forecast, by Certification (2017-2030)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.4.5.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.4.5.4. Market Revenue and Forecast, by Certification (2017-2030)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.4.6.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.4.6.4. Market Revenue and Forecast, by Certification (2017-2030)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.4.7.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.4.7.4. Market Revenue and Forecast, by Certification (2017-2030)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.4.8.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.4.8.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.4.8.4. Market Revenue and Forecast, by Certification (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.5.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.5.4. Market Revenue and Forecast, by Certification (2017-2030)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.5.5.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.5.5.4. Market Revenue and Forecast, by Certification (2017-2030)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Replacement Parts (2017-2030)
11.5.6.2. Market Revenue and Forecast, by Distribution Channel (2017-2030)
11.5.6.3. Market Revenue and Forecast, by Service Channel (2017-2030)
11.5.6.4. Market Revenue and Forecast, by Certification (2017-2030)
Chapter 12. Company Profiles
12.1. 3M Company
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Continental AG
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Cooper Tire & Rubber Company
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Delphi Automotive PLC
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Denso Corporation
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Federal-Mogul Corporation
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. HELLA KGaA Hueck & Co.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Robert Bosch GmbH
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Valeo Group
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. ZF Friedrichshafen AG
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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