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Automotive Aftermarket Size To Fly $950.09 billion in 2027

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[150+ Pages Report] The automotive aftermarket market revenue share is set to grow at a yearly rate of 4.61% during 2021-2027, while its valuation is Projected to jump from $ 693.8 billion in 2020 to $950.09 billion in 2027.

The automotive aftermarket market report covers a detailed analysis for the historic period 2017-2020, considering 2021 as the base year and forecast (growth) for 2021-2027.

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This research report evaluates the automotive aftermarket market on a global and regional level. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global automotive aftermarket market for the period from 2017 to 2027.

Growth Factors

  • Increasing sales of pre-owned and new vehicles
  • Ageing of vehicles
  • Poor road conditions
  • Rising adoption of electric vehicle and safety technologies
  • Integration of advanced technologies

Market Report Scope

Report Highlights Details
Market Size USD 950.09 Billion by 2027
Growth Rate CAGR of 4.61% from 2021 to 2027
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2027

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Market Opportunities

  • Increasing in older vehicles and their age –

The average age of vehicles continues to rise with passenger cars and the light truck segment, average age stands at 11.3 years. The older vehicles become; the more parts require remaining on the road. There has been a 14% increase in the age of automobiles from the past six years which serves as a positive sign for the development of the market.

  • E-commerce changed the automotive aftermarket

The digitalization which is digital influence has transformed the way a consumer makes a purchase. Aftermarket customers read everything possible, including reviews and videos. Year after year, consumers are besieged with online advertising, both on desktops and smartphones. Wheel and the tire websites and aftermarket touch-up paint websites are two fastest growing segments in the industry. Thus, the aftermarket industry is catching up the rest of the world by using smartphone e-commerce technologies.

This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global automotive aftermarket market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.

The report analyzes the historical and present-day scenario of the global automotive aftermarket market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.

Key Highlights

  • The North America led the automotive aftermarket in terms of revenue in 2020 and analyzed to witness prominent growth over the forecast period. In this region, the growing demand of consumers for vehicle modification for improved performance and resale value has widened the market of automotive industry. The trend of sales of pre-owned vehicles is rising and creating a huge demand for automotive aftermarket in the forecasting period. Also, the vehicles or components of vehicle demand replacement after certain years of usage which serves as the key factors in expanding the market in U.S.
  • Europe is anticipated to dominate the global automotive aftermarket mainly due to the increasing disposable income and consumer preferences for replacement products to improve vehicle performance. Changes in lifestyle with changing trends and easy customization, consumers use their aftermarket products to replace original equipment as they are lightweight, robust and versatile in terms of customization. Increasing sales through major online platforms like amazon.com, ebay, Rakuten and Oscaro will multiply the growth of the Europe Automotive Aftermarket.
  • Asia Pacific is witnessing significant growth owing to growing automotive production and by the increase of automotive manufacturers to increase and improve their performance in terms of appearance, speed, sound and other aspects. Growing automobile manufacturing industry especially in countries like China, India and Korea the requirement for large number of automotive parts and components is increasing which is one of major factor leading to market growth in Asia.
  • In terms of revenue, tire dominated the global automotive aftermarket with US$ 202.04 billion by 2027 at 5.47% CAGR and anticipated to continue its dominance over the forecast period due to small replacement cycle compared to its counterparts.
  • On the basis of distribution channel, retailer segment projected to hit revenue US$ 720.17 billion by 2027 with CAGR of 4.74%, whereas wholesale and distribution segment witness the fastest growth over the projected years.
  • By technology, genuine parts are expected to dominate the automotive aftermarket with a CAGR of 4.63% over forecast period 2021 to 2027. Genuine Parts are manufactured by the manufacturers and also by the OEMs. As genuine parts are manufactured by manufacturers themselves, they have greater assurance of quality, are diverse, easy to find, and also include warranty. Genuine parts are more expensive when compared with certified and uncertified parts.

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Competition Landscape

In the final section of the research report, Precedence Research provided the global automotive aftermarket market structure and a detailed competition landscape to provide a dashboard view of key players operating in the global market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.

Some of the major players in the automotive aftermarket market include:

  • p.A.
  • 3M Company
  • Continental AG
  • Robert Bosch GmbH
  • Federal-Mogul Corporation
  • Denso Corporation

Market Segmentation

By Replacement Part

  • Battery
  • Tire
  • Filters
  • Brake Parts
  • Turbochargers
  • Lighting & Electronic Components
  • Body Parts
  • Exhaust Components
  • Wheels
  • Others

By Service Channel

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

By Distribution Channel

  • Wholesalers & Distributors
  • Retailers
    • OEMs
    • Repair Shops

By Certification

  • Certified Parts
  • Genuine Parts
  • Uncertified Parts

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

  • Market estimate for 2020
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Most Asked Questions –

What was the market size value of the automotive aftermarket in 2020?

What is the expected market size by 2027?

What is the automotive aftermarket market growth?

What are the key factors that positively influence market growth?

Who are the prominent players in the automotive aftermarket market?

Why Buy this Report?

The purpose of Precedence Research’s automotive aftermarket market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Automotive Aftermarket, By Replacement Part

7.1. Automotive Aftermarket, by Replacement Part Type, 2020-2027
7.1.1. Battery
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Tire
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Filters
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Brake Parts
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. Turbochargers
7.1.5.1. Market Revenue and Forecast (2016-2027)
7.1.6. Lighting & Electronic Components
7.1.6.1. Market Revenue and Forecast (2016-2027)
7.1.7. Exhaust Components
7.1.7.1. Market Revenue and Forecast (2016-2027)
7.1.8. Body Parts
7.1.8.1. Market Revenue and Forecast (2016-2027)
7.1.9. Wheels
7.1.9.1. Market Revenue and Forecast (2016-2027)
7.1.10. Others
7.1.10.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Automotive Aftermarket, By Service Channel

8.1. Automotive Aftermarket, by Service Channel, 2020-2027
8.1.1. DIFM (Do it for Me)
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. DIY (Do it Yourself)
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. OE (Delegating to OEM’s)
8.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Automotive Aftermarket, By Distribution Channel

9.1. Automotive Aftermarket, by Distribution Channel, 2020-2027
9.1.1. Wholesalers & Distributors
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Retailers
9.1.2.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Automotive Aftermarket, By Certification

10.1. Automotive Aftermarket, by Certification, 2020-2027
10.1.1. Certified Parts
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. Genuine Parts
10.1.2.1. Market Revenue and Forecast (2016-2027)
10.1.3. Uncertified Parts
10.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 11. Global Automotive Aftermarket, Regional Estimates and Trend Forecast

11.1. North America
11.1.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.1.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.1.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.1.4. Market Revenue and Forecast, by Certification (2016-2027)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.1.5.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.1.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.1.5.4. Market Revenue and Forecast, by Certification (2016-2027)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.1.6.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.1.6.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.1.6.4. Market Revenue and Forecast, by Certification (2016-2027)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.2.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.2.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.2.4. Market Revenue and Forecast, by Certification (2016-2027)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.2.5.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.2.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.2.5.4. Market Revenue and Forecast, by Certification (2016-2027)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.2.6.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.2.6.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.2.6.4. Market Revenue and Forecast, by Certification (2016-2027)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.2.7.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.2.7.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.2.7.4. Market Revenue and Forecast, by Certification (2016-2027)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.2.8.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.2.8.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.2.8.4. Market Revenue and Forecast, by Certification (2016-2027)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.3.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.3.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.3.4. Market Revenue and Forecast, by Certification (2016-2027)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.3.5.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.3.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.3.5.4. Market Revenue and Forecast, by Certification (2016-2027)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.3.6.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.3.6.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.3.6.4. Market Revenue and Forecast, by Certification (2016-2027)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.3.7.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.3.7.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.3.7.4. Market Revenue and Forecast, by Certification (2016-2027)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.3.8.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.3.8.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.3.8.4. Market Revenue and Forecast, by Certification (2016-2027)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.4.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.4.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.4.4. Market Revenue and Forecast, by Certification (2016-2027)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.4.5.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.4.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.4.5.4. Market Revenue and Forecast, by Certification (2016-2027)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.4.6.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.4.6.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.4.6.4. Market Revenue and Forecast, by Certification (2016-2027)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.4.7.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.4.7.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.4.7.4. Market Revenue and Forecast, by Certification (2016-2027)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.4.8.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.4.8.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.4.8.4. Market Revenue and Forecast, by Certification (2016-2027)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.5.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.5.4. Market Revenue and Forecast, by Certification (2016-2027)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.5.5.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.5.5.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.5.5.4. Market Revenue and Forecast, by Certification (2016-2027)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Replacement Part (2016-2027)
11.5.6.2. Market Revenue and Forecast, by Service Channel (2016-2027)
11.5.6.3. Market Revenue and Forecast, by Distribution Channel (2016-2027)
11.5.6.4. Market Revenue and Forecast, by Certification (2016-2027)

Chapter 12. Company Profiles

12.1. p.A.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. 3M Company
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Continental AG
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Robert Bosch GmbH
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Federal-Mogul Corporation
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Denso Corporation
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions

Chapter 14. Appendix

14.1. About Us
14.2. Glossary of Terms

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings.

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