The global automotive aftermarket is expected to reach USD 486.36 billion
by 2025, according to a new report by Grand View Research, Inc. 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,
electric vehicles, and hybrid & autonomous cars, in the years to come, is
further expected to bolster the new component market growth. The market can be
categorized, based on replacement parts, into tire, battery, brake parts,
filters, body parts, lighting & electronic components, wheels, and exhaust
components.
 |
U.S. automotive aftermarket by replacement part, 2014 - 2025
(USD Billion)
|
The increasing vehicle penetration is driven by the overall improvement
of lifestyle in the developing countries, such as India and Brazil, and is
expected to drive the growth of the automobile industry in the region. Similar
surges in the automotive manufacturing sector across various regions along with
the increasing stringent emissions norms are expected to drive the growth of
automotive aftermarket component sales over the forecast period.
The Asia-Pacific regional market is expected to be the fastest growing
market for automotive collision repair services over the forecast period, owing
to its developing living standards and high vehicle production. It is also
anticipated to be the fastest-growing market in automobile production. With the
growing penetration and acceptance of gas and hybrid electric cars, specialized
repair centers dedicated toward repair of particular vehicles are expected to
increase.
The global automotive aftermarket is expected to witness tremendous
growth due to an upsurge in the number of vehicle collisions along with the
inclination of owners toward repair of their automobiles.
In depth research report on Automotive
Aftermarket
Further key findings from the report suggest:
•
The automotive
aftermarket is estimated to grow significantly over the forecast period, owing
to an increase in the number of lightweight vehicles coupled with the
increasing age of the light vehicle fleet
•
North America
has a higher technology adoption rate, which is anticipated to result in faster
and higher adoption of hybrid electric automobiles in the region as compared to
the other geographies
•
The global
automotive aftermarket is anticipated to witness a phase change attributable to
the growing proportion of specialized automotive collision repair centers that
are dedicated toward serving specific vehicles such as alternate fuel powered
vehicles
•
The key
industry participants include Magneti Marelli S.p.A., Continental AG, 3M
Company, Federal-Mogul Corporation, Delphi Automotive PLC, Robert Bosch GmbH,
and Denso Corporation.
Grand View Research has segmented the automotive aftermarket based on
replacement part and region:
Automotive Aftermarket Replacement Part
Outlook (Revenue, USD Billion, 2014 - 2025)
•
Tire
•
Battery
•
Brake parts
•
Filters
•
Body parts
•
Lighting &
Electronic components
•
Wheels
•
Exhaust
components
•
Others
Automotive Aftermarket Regional Outlook
(Revenue, USD Billion, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Maxico
·
Europe
o
Germany
o
UK
o
France
·
Asia Pacific
o
China
o
India
o
Japan
o
Singapore
·
South America
o
Brazil
·
MEA
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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