Ny, Jan. 31, 2023 /PRNewswire/ — The worldwide aftermarket automotive parts and factors market measurement is estimated To enhance by USD 86.64 billion from 2022 to 2027. The market’s progress momentum will velocity up at a CAGR Of three.54% By way of the forecast interval. The rising availability of aftermarket automotive parts and factors on e-commerce platforms is a key enhancement On the market. There was a shift in the direction of on-line platforms, with the developing on-line retail parts gross sales. Some good advantages of using e-commerce platforms for aftermarket automotive parts and factors, Similar to a Outcome of the power to evaluation and examine merchandise, entry to detailed product specs, and ease of buy, are driving the incomes generated through on-line gross sales. This, in flip, will assist The enlargement of the market By way of the forecast interval. – Request a pattern report
Technavio has introduced its latest market evaluation report titled Global Aftermarket Automotive Parts and Components Market 2023-2027
Global aftermarket automotive parts and factors market – Purchaseer panorama
To assist corporations consider and develop progress strategies, the report outlines –
Global Aftermarket automotive parts and factors market – Vendor Analysis
Vendor choices –
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3M Co. – The agency provides numerous aftermarket automotive parts and factors such as mirror buttons, lighting, sprucing compounds, and insulation foam sheets.
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ANAND Group – The agency provides numerous aftermarket automotive parts and factors such as chassis, automotive automotivee merchandise, powertrains, and transmission fluids.
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Continental AG – The agency provides numerous aftermarket automotive parts and factors such as brake fluids, wheel velocity sensors, brake pads, tire strain monitoring system sensors, and brake grasp cylinders.
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For particulars on distributors and their choices – Purchase the report
Vendor panorama
The worldwide aftermarket automotive parts and factors market is fragmented, with the presence of some properly-diversified worldwide And a few areaal gamers. A pair of excellent distributors That current aftermarket automotive parts and factors On the market are 3M Co., Aisin World Corp. of America, ANAND Group, BorgWarner Inc., Continental AG, Delphi Utilized sciences Plc, DENSO Corp., DRiV Inagencyd, HELLA GmbH and Co. KGaA, Hitachi Astemo Ltd., Knorr Bremse AG, MagnetiMarelliS.p.A, MAHLE GmbH, Motherson Sumi Methods Ltd., NGK Spark Plugs USA, Inc., OSRAM GmbH, Robert Bosch GmbH, Tenneco Inc., Valeo SA, and ZF Friedrichshafen AG and others.
There’s intense rivals amongst market gamers. Key distributors On the market are developing their investments in new technologies. The worldwide aftermarket automotive parts and factors market has Pretty a few aftermarket automotive half and factor suppliers. It is characterised by a quantity of technological improvements, That are anticipated To enhance By way of the forecast interval. Furtherextra, investments in creating revolutionary options and designs are anticipated to proceed. This will intensify rivals amongst current and new gamers.
Global aftermarket automotive parts and factors market – segmentation Evaluation
Part overview
Technavio has segmented the market based mostly on product (tire, brake parts, battery, filter, and others) and distribution channel (retail and wholesale).
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The tire segment will account for An monumental share of the market’s progress By way of the forecast interval. The demand for aftermarket tires is extreme worldwidely. The developing older car inhabitants in developed mature car markets, such as Japan, the US, and Western Europe, is contributing to this demand. As properly as, road situations in rising nations such as India make cars extra weak to breakdown and put on and tear of tires. This Leads to A requirement for aftermarket fitments. In consequence, the demand for aftermarket tires is developing steadily Inside the area.
Geography overview
Based on geography, the worldwide aftermarket automotive parts and factors market is segmented into APAC, North America, Europe, South America, and Center East and Africa. The report currents actionable insights and estimates the contribution of all areas to The enlargement of the worldwide aftermarket automotive parts and factors market.
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APAC is estimated to account for 38% of The enlargement of the worldwide market By way of the forecast interval. China, India, and Japan are The important factor income-contributing nations On the market. These nations are extreme-quantity adopters Of autos. Elements such as developing disposable incomes in rising economies have led to An enhance Inside the Number Of auto consumers. Thus, the automotive enterprise Inside the area contributes significantly to the demand for car roadside assist providers.
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Global aftermarket automotive parts and factors market – Market dynamics
Main drivers – The developing Number Of autos worldwidely is driving market progress. The demand for automotive restore and upkeep providers is rising, with The rise Inside the lifespan Of autos. As properly as, passenger automotives and utility cars, such as sports activities-utility cars (SUVs), multi-objective cars (MPVs), crossovers, and pickup vans, are properly-appreciated Inside the worldwide automotive market. These cars want common upkeep to carry out correctly. Such factors will positively influence The enlargement of the market By way of the forecast interval.
Primary problems – The rising scarcity of expert automotive technicians is difficult the market progress. The scarcity is a Outcomes of The scarcity of A strong automotiveeer path, the disparity in pay packages, and prolonged working hours, That are making it troublesome for expert automotive restore retailers To draw and retain expert technicians. Based on the US Bureau of Labor Statistics, the automotive enterprise Inside the US will want about 46,000 expert automotive technicians by 2026. This scarcity Is predicted To enhance, as the demand for automotive restore and upkeep providers proceeds to rise. Subsequently, the scarcity of expert automotive technicians will negatively influence The enlargement of the market By way of the forecast interval.
Drivers and problems Have an influence on market dynamics, Which might influence companies. Discover extra insights in a pattern report!
What are The important factor knowledge coated On this aftermarket automotive parts and factors market report?
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CAGR of the market By way of the forecast interval
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Detailed information on factors Which will drive The enlargement of the aftermarket automotive parts and factors market between 2023 and 2027
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Exact estimation of The measurement of the aftermarket automotive parts and factors market and its contribution to the mother or father market
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Right predictions about upcoming enhancements and modifications in shopper conduct
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Growth of the aftermarket automotive parts and factors market throughout APAC, North America, Europe, South America, and Center East and Africa
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A radical evaluation of the market’s aggressive panorama and detailed Details about distributors
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Full evaluation Of factors Which will problem The enlargement of aftermarket automotive parts and factors market distributors
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Aftermarket Automotive Parts and Components Market Scope
Report Safety
Details
Website quantity
167
Base yr
2022
Historic interval
2017-2021
Forecast interval
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR Of three.54%
Market progress 2023-2027
USD 86.64 billion
Market construction
Fragmented
YoY progress 2022-2023 (%)
2.87
Regional evaluation
APAC, North America, Europe, South America, and Center East and Africa
Performing market contribution
APAC at 38%
Key nations
US, China, Japan, India, and Germany
Competitive panorama
Main distributors, market positioning of distributors, aggressive strategies, and enterprise risks
Key corporations profiled
3M Co., Aisin World Corp. of America, ANAND Group, BorgWarner Inc., Continental AG, Delphi Utilized sciences Plc, DENSO Corp., DRiV Inagencyd, HELLA GmbH and Co. KGaA, Hitachi Astemo Ltd., Knorr Bremse AG, MagnetiMarelliS.p.A, MAHLE GmbH, Motherson Sumi Methods Ltd., NGK Spark Plugs USA, Inc., OSRAM GmbH, Robert Bosch GmbH, Tenneco Inc., Valeo SA, and ZF Friedrichshafen AG
Market dynamics
Parent market evaluation, market progress inducers and obstacles, quick-rising and sluggish-rising segment evaluation, COVID-19 influence and restoration evaluation and future shopper dynamics, and market situation evaluation for the forecast interval.
Customization purview
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Table of content materials
1 Authorities Abstract
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 5 Forces Analysis
6 Market Partation by Product
7 Market Partation by Distribution Channel
8 Purchaseer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Tendencies
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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Global Aftermarket Automotive Parts and Components Market 2023-2027
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