About Aftermarket Automotive
Aftermarket automotive is refer as the secondary market related to the automotive industry. They are basically concerned with the manufacturing, re-manufacturing, distribution, retailing, and installation of all vehicle parts, chemicals, equipment, and accessories, after the sale of the automobile by the original equipment manufacturer (OEM). There are many factors which are creating an opportunity for the market growth. 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.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Despite the presence of competition and brand effect problems, due to the awareness of end-users and their demand for high end products, investors are still optimistic about this area. There will be more new investors entering into this industry in the future. The manufacturers who want to occupy the market must depend on market mechanism reform, manufacturing equipment innovation, core technology improvement and brand establishment. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
3M (United States), Bridgestone Group (Japan), Royal Dutch Shell Plc (The Netherlands), Mahle Group (Germany), Robert Bosch GmbH (Germany), Continental AG (Germany), Delphi Automotive PLC (United Kingdom), Michelin Group (France), Goodyear Tire and Rubber Company (United States) and Aisin Seiki Co., Ltd. (Japan) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Aftermarket Automotive market by and Region.
On the basis of geography, the market of Aftermarket Automotive has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Tires will boost the Aftermarket Automotive market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle, the sub-segment i.e. Passenger Cars (PC) will boost the Aftermarket Automotive market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Certification Outlook, the sub-segment i.e. Genuine Parts will boost the Aftermarket Automotive market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Digitization of Automotive Repair & Maintenance Services
Market Growth Drivers:
Rising Average Age of Vehicles in Operation and Advanced Technology Usage in Auto Parts Fabrication
Challenges:
Fluctuating Prices of Raw Materials
Restraints:
Counterfeiting of Auto Components and Growing Demand for Electric Vehicles
Opportunities:
Partnerships Between Major Manufacturers and Domestic Players and Demand for Lightweight Friction Products
Market Leaders and their expansionary development strategies
Continental collaborates with Turo to offer new application, that is Turo Go in the aftermarket.
AISIN and DENSO to form a new company, that is BLUE NEXUS in a move to develop and sell driving modules used for electric vehicles.
Key Target Audience
Manufacturers of automotive components, Raw material suppliers for automotive components, Experts from the automotive industry, Dealers and distributors of automotive components, Automotive OEMs and The automobile industry and related end-user industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.