25-June-2019: The global automotive aftermarket size is
expected to reach USD 486.4 billion by 2025, according to a new report by Grand
View Research, Inc., expanding at a CAGR of 3.9% over the forecast period.
Digitalization of auto repair and component sales, complemented by advanced
technology incorporations in automobile aftermarket component manufacturing, is
expected to benefit market expansion. Surging reception of semi-autonomous,
electric vehicles, and hybrid and autonomous cars is further expected to
bolster the new component market growth in the years to come. The market can be
categorized, based on replacement parts, into tire, battery, brake parts,
filters, body parts, lighting and electronic components, wheels, exhaust
components, and turbochargers.
Increasing vehicle penetration
is driven by overall improvement of lifestyle in developing countries such as
India and Brazil and is expected to drive the automobile industry. Similar
surges in the auto manufacturing sector across various regions, along with
increasing stringent emissions norms, are expected to drive aftermarket
component sales over the forecast period.
Asia Pacific is expected to
emerge as the fastest-growing regional 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 increasing penetration and acceptance of
gas and hybrid electric cars, specialized repair centers dedicated to repair
particular vehicles are expected to increase. The market is also expected to
witness tremendous growth due to an upsurge in the number of vehicle
collisions, along with inclination of owners towards repair of their
automobiles.
In depth research report on Automotive Aftermarket
Further
key findings from the study suggest:
· The
market is estimated to grow significantly over the forecast period, owing to an
increase in number of lightweight vehicles, coupled with 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 other geographical regions
· The
market is anticipated to witness a phase change owing to growing proportion of
specialized auto collision repair centers that are dedicated to serving
specific vehicles, such as alternate fuel powered vehicles
· 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 global automotive aftermarket on the basis of replacement part,
distribution channel, service channel, certification, 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
· Turbochargers
· Others
Automotive
Aftermarket Distribution Channel Outlook (Revenue, USD Billion, 2014 - 2025)
· Retailers
· OEMs
· Repair
Shops
· Wholesalers
& Distributors
Automotive
Aftermarket Service Channel Outlook (Revenue, USD Billion, 2014 - 2025)
· DIY (Do
It Yourself)
· DIFM
(Do It for Me)
· OE
(Delegating to OEM’s)
Automotive
Aftermarket Certification Outlook (Revenue, USD Billion, 2014 - 2025)
· Genuine
Parts
· Certified
Parts
· Uncertified
Parts
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more research reports of this category:
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.
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