Demand for Automotive Aftermarket Market Industry and Research Report 2030

 The report is titled ‘Automotive Aftermarket Market: Opportunity Analysis and Future Assessment 2023-2030’. An overview of conceptual frameworks, analytical approaches of the automotive aftermarket market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The automotive aftermarket market is expected to grow at a significant rate in the near future.

The automotive aftermarket market is estimated to reach at a value of US 422.2 Bn by the end of 2022 and expected to reach at a value of US$ 556.3 Bn by 2030 with a significant CAGR of 3.5%.

Access Sample Copy of “Automotive Aftermarket Market Report”: @ https://reportsandinsights.com/sample-request/1403

Automotive Aftermarket Introduction

Automotive aftermarket refers to the after-sale market of the automotive industry. The after-sale market of the automotive industry comprises vehicle equipment, parts, service repair, replacement tires, collision repair and accessories, which are mainly sold after the sale of the original vehicle.

The automotive aftermarket includes the companies which are involved in manufacturing, refurbishing, retailing, distribution, and installation of replacing parts of the vehicle, service repair, equipment, and automotive accessories.

Automotive Aftermarket Market Dynamics

The increased buying and selling of used-vehicles or second-hand vehicles, around the world, has dramatically propelled the repair and maintenance segment of the automotive aftermarket, thereby boosting the overall growth of the global automotive aftermarket. As per the statistics of the Bureau of Transportation of the United States, the sales of second-hand vehicles is constantly on the rise in the country ranging from 37,255,000 in the year 2015 to 40,805,000 vehicles in the year 2019. Owing to which, the global automotive aftermarket is expected to flourish swiftly in the forthcoming future.

The growing length of service of vehicle fleets, especially in developed regions, has resulted in maturation and aging of fleet vehicles which is estimated to be a major stimulating factor for the growth in demand of aftermarket maintenance and service, which is projected to ultimately propel the market growth of automotive aftermarket in the years to come.

However, the sudden strike of global crisis of COVID-19 has drastically impacted the automotive and related industries, around the world, which in turn has affected the automotive aftermarket due to the huge disruption in the supply chains as well as lower consumer demand. Such factors have enormously hindered the overall growth of the global automotive aftermarket.

Furthermore, the deadly virus forced the governments and regulatory authorities of most of the countries around the world to restrict the movement of people and implement nationwide lockdown, thus immediately switching the consumer expenditure priorities to essential purchasing.

On top of that, due to the concentrated supply chains in few regions, the manufacturing industry has also been through a lot of complications. Attributed to all of this, the automotive aftermarket is expected to observe stagnant growth over the coming years.

View Complete TOC and Figures & Graphs of Automotive Aftermarket Market Industry Report - https://reportsandinsights.com/pressrelease/automotive-aftermarket-market

Automotive Aftermarket Market Segmentation

The global automotive aftermarket market is segmented on the basis of replacement parts, distribution channel, service channel, certification, and regions. On the basis of the replacement parts, the automotive aftermarket market size is segmented into Tire, Battery, Brake parts, Filters, Body parts, Lighting & Electronic components, Wheels, Exhaust components, Turbochargers, and Others. On the basis of the distribution channel, the market is categorized into Retailers (OEMs, Repair Shops) and Wholesalers & Distributors. Further, on the basis of the service channel, the market is segmented into DIY (Do It Yourself), DIFM (Do It for Me), and OE (Delegating to OEM’s). Furthermore, the market is segmented on the basis of certification into Genuine Parts, Certified Parts, and Uncertified Parts.

The research report classifies the global automotive aftermarket market based on replacement parts, distribution channel, service channel, certification, and regions.

By Replacement Parts

• Tire
• Battery
• Brake parts
• Filters
• Body parts
• Lighting & Electronic components
• Wheels
• Exhaust components
• Turbochargers
• Others

By Distribution Channel

• Retailers
  • OEMs
  • Repair Shops
• Wholesalers & Distributors

By Service Channel

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

By Certification

• Genuine Parts
• Certified Parts
• Uncertified Parts

By Region

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

Some of the key questions answered in this report: 

• Which are the five top players of the Automotive Aftermarket Market?
• How will the Automotive Aftermarket Market change in the upcoming years?
• Which product and application will take a share of the Automotive Aftermarket Market?
• What are the drivers and restraints of the Automotive Aftermarket Market?
• Which regional market will show the highest growth?
• What will be the CAGR and size of the Automotive Aftermarket Market throughout the forecast period?
• What is the current market size, what will the market size be in 2030 and what will the growth rate be?
• What are the challenges to grow in the market?
• What are the market opportunities and challenges faced by the key vendors?
• Who are the major competitors and what is their strategy?
• What are the barriers to entry for new players in the market?

Automotive Aftermarket Market Key Players

The global automotive aftermarket market is dominated by Continental AG, 3M Company, Delphi Automotive PLC, Federal-Mogul Corporation, Denso Corporation, Magneti Marelli S.p.A., Robert Bosch GmbH, among others.

To view Top Players, Segmentation and other Statistics of Automotive Aftermarket Industry, Get Sample Report: @ https://reportsandinsights.com/sample-request/1403

About Reports and Insights:

Reports and Insights is one of the leading market research company which offers syndicate and consulting research around the globe. At Reports and Insights we adhere to the client needs and regularly ponder to bring out more valuable and real outcomes for our customers. We are equipped with strategically enhanced group of researchers and analysts that redefines and stabilizes the business polarity in different categorical dimensions of the market.

Contact Us:

Neil Jonathan

1820 Avenue M, Brooklyn

NY 11230, United States

+1-(718) 312-8686

Find Us on Linkedin: www.linkedin.com/company/report-and-insights/