Global Auto Aftermarket Market

Global Auto Aftermarket Market By Replacement Parts (Tires, Batteries, Brake Parts, Filters, Body Parts, Lighting & Electronic Components, Wheels, Exhaust Components, Turbochargers, and Others), Distribution Channels (Retailers (OEMs and Repair Shops) and Wholesalers & Distributors), Certifications (Genuine Parts, Certified Parts, and Uncertified Parts) Service Channels (DIY (Do it Yourself), DIFM (Do it for Me), and OE (Delegating to OEM’s)), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021-2028

  • Report ID: AL-4534
  • Author: Growth Market Reports
  • Rating: 4.7
  • Total Reviews: 2
  • No. Of Pages: 192
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The global auto aftermarket market size is anticipated to expand at a CAGR of 3.8% and is projected to reach USD 529.25 billion during the forecast period, between 2021 and 2028. The growing demand for automobiles by consumers increases the production and sale of automobiles. The shift in the consumer’s preferences towards the vehicle’s upgradation and increasing standard of living associated with rising disposable income increases the demand for vehicles in developing countries like India and Brazil is driving the market.


Global Auto Aftermarket Market summary

The auto aftermarket, also known as the generic part is a secondary market of the automotive industry, which includes brand new replacement parts made by vehicle’s original equipment manufacturers. The auto aftermarket is concerned with manufacturing, remanufacturing, distribution, retailing, and installing of all vehicles parts, equipment, chemical, safety, performance, and accessories after the sale of automobiles to the consumers. The process of replacing auto parts is done after the original parts are got damaged. The aftermarket is generally divided into two categories such as replacement parts and accessories. The aftermarket provides a wide range of parts to all types of auto models. However, the auto aftermarket is continuously expanding and developing to fulfill changing consumers' expectations.

Market Trends, Drivers, Restraints, and Opportunities:

  • Rising long-distance traveling and increasing demand for electric vehicles, hybrid vehicles, autonomous and semi-autonomous cars are boosting the market. 
  • Growing adoption of automobile drivers to enhance the vehicle's performance including speed, exhaust sound, and appearance are fueling the market. 
  • Increasing concerns related to the environment associated with noise and carbon emissions are driving the market. 
  • High operation costs and issues associated with high expenditure incurred in performing R&D activities are hampering the market. 
  • Complexities in manufacturing processes and replacing and selecting suitable parts such as aftermarket filters are hindering the market. 
  • The availability of counterfeit auto parts and uncertified service providers are restricting the market.
  • Growing adoption of modern-day automotive mufflers and resonators in automotive exhaust systems and 3D printing of automotive parts are creating opportunities in the market. 

Scope of the report:

The report on the global auto aftermarket includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Auto Aftermarket Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Replacement Parts (Tires, Batteries, Brake Parts, Filters, Body Parts, Lighting & Electronic Components, Wheels, Exhaust Components, Turbochargers, and Others), Distribution Channels (Retailers (OEMs and Repair Shops) and Wholesalers & Distributors), Certifications (Genuine Parts, Certified Parts, and Uncertified Parts) Service Channels (DIY (Do it Yourself), DIFM (Do it for Me), and OE (Delegating to OEM’s))

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

3M, Aisin World Corp. of America, BorgWarner Inc, ContiTech AG, Cooper Tires & Rubber Company, DENSO CORPORATION, Federal-Mogul, HELLA GmbH & Co. KGaA, Magna International Inc, Robert Bosch GmbH, VALEO SERVICE, and ZF Friedrichshafen AG

Auto Aftermarket Segment Insights:

Tires segment to hold significant market share

In terms of replacement parts, the global auto aftermarket is segmented into tires, batteries, brake parts, filters, body parts, lighting & electronic components, wheels, exhaust components, turbochargers, and others. The tires segment constituted a significant market share in 2020 and is projected to expand at a rapid rate during the forecast period. The growth in the tire segment is attributed to the low replacement cycle of tires as compared to other components counterparts. The expansion of repairing services providers and entertainment service providers. Moreover, the rising adoption of hybrid electric cars increases the demand for exhaust parts and specific tools required for these types of specialized cars.

Retailers segment to grow during the anticipated period

On the basis of distribution channels, the global auto aftermarket is segregated into retailers (OEMs and repair shops) and wholesalers & distributors. The retailer's segment held a considerable share of the market in 2020, owing to the growing need to manage overall vehicle performance. The auto aftermarket is a significant part of overall auto manufacturing and maintenance. Moreover, rising digitization and the increasing influence of technological advancements made retailers shift their business to the online platform. However, retailers (repair shops and original equipment manufacturers (OEMs) are offering online services for enhancing better customer experiences.


Global Auto Aftermarket Market distribution channels

Certified parts segment to grow at a significant pace in the near future

Based on certifications, the global auto aftermarket is categorized as genuine parts, certified parts, and uncertified parts. The genuine segment constituted a significant market share in 2020 and is projected to grow in the near future, due to the diverse range and warranty offered by service providers. Genuine parts are manufactured by subcontractors/original equipment manufacturers (OEMs) that give quality assurance to the customers about the parts. The certified segment is expected to hold a significant share of the market during the forecast period, attributed to the growing demand for cost-effective solutions by consumers. The genuine auto parts are highly expensive as compared to certified parts. Moreover, the certified auto parts are tested and inspected by a certified organization such as Certified Automotive Parts Association (CAPA). However, CAPA offers test programs to verify the quality of auto parts and replacement sustainability.

DIY (do it yourself) segment to grow in the forecasted period

On the basis of service channels, the global auto aftermarket is fragmented into DIY (do it yourself), DIFM (do it for me), and OE (delegating to OEMs). The original equipment (delegation to original equipment manufacturers) segment dominated the market in 2020 and is projected to expand at a rapid rate during the forecast period. The DIY (do it yourself) segment is expected to hold a significant share of the market during the forecast period attributed to the rising consumer’s interest to repair and maintain vehicles on their own. Modern consumers have the knowledge and keen interest to know the technicality of vehicles. Additionally, the consumers are learning and upgrading their vehicles on their own. This also helps them to save the excess charges imposed by the service providers.

Asia Pacific dominates the market

In terms of regions, the global auto aftermarket is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific constituted a significant share of the market in 2020, due to the growing adoption of advanced technology in the fabrication of auto parts. The growth in the production and sale of consumer and passenger automobiles and the increasing digitization of auto-delivery services are driving the market in the region. The market in the Asia Pacific is projected to expand at a significant CAGR during the forecast period, due to the growing research to develop an environment-friendly and cost-effective solution. However, favourable safety standards, increasing government support in the reduction of emission toxicity, and monitoring the impact made by the automotive industry on the environment are propelling the market in Asia Pacific.


Global Auto Aftermarket Market regions

Segments

By Replacement Parts

  • Tires
  • Batteries
  • Brake Parts
  • Filters
  • Body Parts
  • Lighting & Electronic Components
  • Wheels
  • Exhaust Components
  • Turbochargers
  • Others

By Distribution Channels

  • Retailers (OEMs and Repair Shops)
  • Wholesalers & Distributors

By Certifications

  • Genuine Parts
  • Certified Parts
  • Uncertified Parts

By Service Channels

  • DIY (Do it Yourself)
  • DIFM (Do it for Me)
  • OE (Delegating to OEM’s)

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

By Key Players

  • 3M
  • Aisin World Corp. of America
  • BorgWarner Inc
  • ContiTech AG
  • Cooper Tires & Rubber Company
  • DENSO CORPORATION
  • Federal-Mogul
  • HELLA GmbH & Co. KGaA
  • Magna International Inc
  • Robert Bosch GmbH
  • VALEO SERVICE
  • ZF Friedrichshafen AG

Competitive Landscape

Key players in the global auto aftermarket include 3M, Aisin World Corp. of America, BorgWarner Inc, ContiTech AG, Cooper Tires & Rubber Company, DENSO CORPORATION, Federal-Mogul, HELLA GmbH & Co. KGaA, Magna International Inc, Robert Bosch GmbH, VALEO SERVICE, and ZF Friedrichshafen AG. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Global Auto Aftermarket Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Auto Aftermarket Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Auto Aftermarket Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Auto Aftermarket Market - Supply Chain
  4.5. Global Auto Aftermarket Market Forecast
     4.5.1. Auto Aftermarket Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Auto Aftermarket Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Auto Aftermarket Market Absolute $ Opportunity
5. Global Auto Aftermarket Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Auto Aftermarket Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Auto Aftermarket Demand Share Forecast, 2019-2026
6. North America Auto Aftermarket Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Auto Aftermarket Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Auto Aftermarket Demand Share Forecast, 2019-2026
7. Latin America Auto Aftermarket Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Auto Aftermarket Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Auto Aftermarket Demand Share Forecast, 2019-2026
8. Europe Auto Aftermarket Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Auto Aftermarket Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Auto Aftermarket Demand Share Forecast, 2019-2026
9. Asia Pacific Auto Aftermarket Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Auto Aftermarket Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Auto Aftermarket Demand Share Forecast, 2019-2026
10. Middle East & Africa Auto Aftermarket Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Auto Aftermarket Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Auto Aftermarket Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Auto Aftermarket Market: Market Share Analysis
  11.2. Auto Aftermarket Distributors and Customers
  11.3. Auto Aftermarket Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. 3M
     11.4.2. Aisin World Corp. of America
     11.4.3. BorgWarner Inc
     11.4.4. ContiTech AG
     11.4.5. Cooper Tires & Rubber Company
     11.4.6. DENSO CORPORATION
     11.4.7. Federal-Mogul
     11.4.8. HELLA Gm

By Replacement Parts

  • Tires
  • Batteries
  • Brake Parts
  • Filters
  • Body Parts
  • Lighting & Electronic Components
  • Wheels
  • Exhaust Components
  • Turbochargers
  • Others

By Distribution Channels

  • Retailers (OEMs and Repair Shops)
  • Wholesalers & Distributors

By Certifications

  • Genuine Parts
  • Certified Parts
  • Uncertified Parts

By Service Channels

  • DIY (Do it Yourself)
  • DIFM (Do it for Me)
  • OE (Delegating to OEM’s)

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

By Key Players

  • 3M
  • Aisin World Corp. of America
  • BorgWarner Inc
  • ContiTech AG
  • Cooper Tires & Rubber Company
  • DENSO CORPORATION
  • Federal-Mogul
  • HELLA GmbH & Co. KGaA
  • Magna International Inc
  • Robert Bosch GmbH
  • VALEO SERVICE
  • ZF Friedrichshafen AG

Key players in the global auto aftermarket include 3M, Aisin World Corp. of America, BorgWarner Inc, ContiTech AG, Cooper Tires & Rubber Company, DENSO CORPORATION, Federal-Mogul, HELLA GmbH & Co. KGaA, Magna International Inc, Robert Bosch GmbH, VALEO SERVICE, and ZF Friedrichshafen AG. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.

Global Auto Aftermarket Market keyplayers

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