Automotive Aftermarket Market and Analysis Report – Opportunities and Forecast 2023-2030
Automotive Aftermarket Size, Analysis, By Vehicle Type (Commercial Vehicles and Passenger Vehicles), By Replacement Parts (Tire, Battery, Brake Parts, Filters, Lighting Components, Electronic Components, Lubricants, Clutch Parts, Engine Components and Others), By Certification (Genuine Parts, Certified Parts, Counterfeit Parts and Others)
The automotive aftermarket can be defined as the auto industry’s after-sale market that includes vehicle parts, equipment, collision repair, replacement tires, service repair, and accessories that are sold after the sale of the original vehicle. The automotive aftermarket is the secondary market of automobiles industry, which includes companies related to manufacturing, re-manufacturing, distribution, retailing, and installation of replacement vehicle parts, equipment, service repair and automotive accessories.
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According to the automotive aftermarket industry analysis, the increasing sales of new and preowned vehicles along with digitization of distribution channels is one of the major factors boosting the growth of the automotive aftersales market. In addition, growing demand for vehicle upgradation and rising concern of customers regarding comfort and safety are further expected to augment the adoption of aftermarket products in vehicles over the forecast period. Moreover, emergence of autonomous driving has increased the complexities of vehicles that require shorter maintenance intervals, which is one of the automotive aftermarket industry trends that is increasing the demand of the market. However, high durability and strength of original equipment, difference in quality of the material, and the emergence of COVID 19 are some of the major factors that are anticipated to restraint the growth of the automotive aftermarket industry over the forecast period.
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Replacement Parts – Segment Analysis
Based on replacement part, the market is segmented into tire, battery, brake parts, filters, body parts, lighting & electronics components, exhaust component, turbochargers, and others. The tire segment is anticipated to dominate the market owing to the low replacement cycle of tires as compared to its counterparts along with the rising demand for convenience, high maintenance, and retreading of tires among customers.
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Regional – Segment Analysis
Based on the region, Asia-Pacific region is anticipated to lead the automotive aftermarket during the forecast period. This is primarily due to the growing economies including China, Japan, India, and South Korea in the region, coupled with the increasing production of vehicles and aftermarket products in the automotive industry. North America is projected to grow at a higher CAGR in the automotive aftermarket market owing to the rapid economic development, the growing demand of autonomous vehicles, coupled with the rising concerns for safety of vehicles among the consumers in the region.
Top Market Players
The leading automotive aftermarket companies are Continental AG, 3M Company, BorgWarner Inc., Tenneco Inc., Denso Corporation, Marelli Holdings Co., Ltd., Robert Bosch GmbH, The Goodyear Tire & Rubber Company, ZF Friedrichshafen AG, and Cooper Tire & Rubber Company, among other companies.
Key Developments:
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- In 2020, BorgWarner Inc., one of the leading companies providing clean and efficient technology solutions for combustion, hybrid and electric vehicles, acquired Delphi Technologies PLC, one of the prominent companies in automotive aftermarket. This is expected to enhance the company’s business portfolio in the automotive aftermarket industry.
- In 2018, Tenneco Inc., acquired Federal-Mogul Corporation, one of the leading global suppliers to original equipment manufacturers and the aftermarket in automotive industry. This acquisition helped to enhance the product portfolio of the company in the aftermarket products.
Segments covered in the Report:
The Global Automotive Aftermarket has been segmented on the basis of vehicle type, certification, replacement part. Based on the vehicle type, the market has been segmented into commercial vehicles and passenger vehicles. By replacement parts, the market is segmented into tire, battery, brake parts, filters, Lighting Components, Electronic components, Lubricants, Clutch Parts, Engine Components and others. Based on certification, the market has been segmented into Genuine Parts, Certified Parts, Counterfeit Parts, Others.
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Key questions answered in this research report:
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- At what pace is global Automotive Aftermarket market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in Automotive Aftermarket market? What will be the impact of drivers and restraints in the future?
- What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Automotive Aftermarket market?
- Which replacement part generated maximum revenues in 2022 and identify the most promising replacement part during the forecast period?
- What are the various distribution channels of global Automotive Aftermarket market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
Report Coverage |
Details |
Market Revenues Currency |
USD Million |
Market Base year |
2022 |
Market Forecast Period |
2023-2030 |
Base Year & Forecast Units |
Revenues (USD Million) |
Market Segment | By Vehicle Type, By Replacement Parts, By Certification and By Region |
Regional Coverage | Asia Pacific, Europe, North America, and RoW |
Companies Profiled | Continental AG, 3M Company, BorgWarner Inc., Tenneco Inc., Denso Corporation, Marelli Holdings Co., Ltd., Robert Bosch GmbH, The Goodyear Tire & Rubber Company, ZF Friedrichshafen AG, and Cooper Tire & Rubber Company among others; a total of 10 companies covered. |
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Market Segmentation
Automotive Aftermarket Market by Vehicle Type
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- Commercial Vehicles
- Passenger Vehicles
Automotive Aftermarket Market by Replacement Parts
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- Tire
- Battery
- Brake Parts
- Filters
- Air Filter
- Oil Filter
- Others
- Lighting Components
- Electronic components
- Lubricants
- Clutch Parts
- Engine Components
- Timing Belt
- Spark Plugs
- Others
- Others
Automotive Aftermarket Market by Certification
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- Genuine Parts
- Certified Parts
- Counterfeit Parts
- Others
Global Automotive Aftermarket Market by Region
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- North America Automotive Aftermarket Market (Option 1: As a part of the free 25% customization)
- By Vehicle Type
- By Replacement Part
- By Certification
- US Market All-Up
- Canada Market All-Up
- Europe Automotive Aftermarket Market (Option 2: As a part of the free 25% customization)
- By Vehicle Type
- By Replacement Part
- By Certification
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
- Asia-Pacific Automotive Aftermarket Market (Option 3: As a part of the free 25% customization)
- By Vehicle Type
- By Replacement Part
- By Certification
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
- RoW Automotive Aftermarket Market (Option 4: As a part of the free 25% customization)
- By Vehicle Type
- By Replacement Part
- By Certification
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
- North America Automotive Aftermarket Market (Option 1: As a part of the free 25% customization)
Global Automotive Aftermarket Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- Continental AG
- 3M Company
- BorgWarner Inc.
- Tenneco Inc.
- Denso Corporation
- Marelli Holdings Co., Ltd.
- Robert Bosch GmbH
- The Goodyear Tire & Rubber Company
- ZF Friedrichshafen AG
- Cooper Tire & Rubber Company
- Published Date: Nov- 2022
- Report Format: Excel/PPT
- Report Code: UP1801-001001
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Report is shared with unlimited user (employees) of the purchasing corporation only
Automotive Aftermarket Market and Analysis Report – Opportunities and Forecast 2023-2030
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