Automotive Aftermarket Market Worldwide Share, Recent Trends, Business Overview, Application, Types, Future Growth and Forecasts 2020 – 2027
The Global Automotive Aftermarket Market is projected to reach USD 518.04 billion in 2027. The market growth is expected to increase through the digitalization of automobile repair and parts manufacturing, along with advanced technological incorporations of the production of automotive aftermarket components. The growing acceptance of semi-autonomous, electric, and hybrid and independent vehicles is expected to further fuel the growth of the industry. Rising disposable income and improved lifestyle are the key drivers of vehicle penetration, expected to drive the demand in the region, in developing countries like India and Brazil. The selling of aftermarket parts over the forecast period is expected to be powered by growth in the automotive manufacturing industry across different regions and by high emissions standards.
Increasing demand for attractive interior lighting and in-flight entertainment systems is one of the key factors driving global aircraft refurbishing market growth
Aircraft refurbishing service providers continue to explore more efficient and cost-effective, and visually appealing ways of refurbishing aircraft. In addition, consumer electronics are also integrated and repackaged as in-flight entertainment system components. Because these electronic components have a limited lifespan, aircraft refurbishment plays a crucial role in keeping these components ahead of the competition and avoid obsolescence. Furthermore, because these technologies are rapidly becoming obsolete, key players have the opportunity to design, manufacture, and install customized in-flight entertainment systems while keeping up with new technological innovations. This factor is expected to create favorable business opportunities for market players in the near future.
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One of the report’s central components is the broad Automotive Aftermarket market segmentation that includes the product type gamut, application spectrum, end-user industry landscape, significant geographical regions, and the top market contenders. The report contains unbiased industry expert opinions on the current market scenario, past market performance, production & consumption rates, demand & supply ratio, and revenue generation forecasts over the estimated period. The key players’ financial positions, along with their gross profits, sales volumes, sales revenue, manufacturing costs, and other financial ratios, have been accurately gauged in the report. Furthermore, several analytical tools like investment assessment, SWOT analysis, and Porter’s Five Forces Analysis have been implemented by our analysts’ team to evaluate the production and distribution capacities of the Automotive Aftermarket market players.
Key players in the market include
- Bridgestone Corporation,
- Hella KGaA Hueck & Co.,
- Denso Corporation,
- Delphi Automotive,
- Robert Bosch, and
- 3M Company, among others.
Key geographical areas:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Emergen Research has segmented into the global Automotive Aftermarket on the basis of Product, Fitting, Application, and region:
Replacement Part Outlook (Revenue: USD Billion; 2017-2027)
- Brake Parts
- Body parts
- Lighting & Electronic Components
- Exhaust components
Certification Outlook (Revenue: USD Billion; 2017-2027)
- Genuine Parts
- Certified Parts
- Uncertified Parts
Service Channel Outlook (Revenue: USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue: USD Billion; 2017-2027)
- Wholesalers & Distributors
Further key findings from the report suggest
The emphasis is strongly on digital methods for the full supply chain processes by the automakers, product suppliers and distributors, and original equipment manufacturers (OEMs).
The digitization of the networks and services would also allow customers to deepen their research and inform about the quality, location, and availability of services in the workshop before buying or repairing their vehicle.
Due to the growing number of weight vehicles and the rising age of the light vehicle fleet, the aftermarket must expand dramatically over the forecast period.
Key questions addressed in the report:
What are the key factors driving the global Automotive Aftermarket market?
Who are the key manufacturers in this market space?
Who are the distributors, traders and dealers of this market?
What are the market opportunities and risks affecting the performance of the vendors in the global Automotive Aftermarket market?
What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
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