Automotive Aftermarket Industry Set to Expand at a CAGR of 3.2% by 2025

New York, USA, 2018-Nov-08 — /EPR Network/ —According to Goldstein Research, global automotive aftermarket industry size is estimated at USD 763 billion in 2017, which is growing at a compounded annual growth rate of 3.2% during the forecast period 2017-2025. The global automotive aftermarket industry accounts for 20% revenue share of global automotive industry. The upwards graph in the sales of new automobiles and the trend of digital driven products & services, combinedly accelerate the growth of market. Global automotive aftermarket industry segmentation has been carried out on the basis of aftermarket products and services type, end user, distribution channel and geography. On the basis of aftermarket products and services type, the wear & tear parts segment accounted for highest market of +52%. Further, the global automotive drive-shaft market and global automotive turbocharger market each account for significant market share, impelling the growth of automotive aftermarket industry all over the world. Global automotive aftermarket industry is largely driven by North America market share of 35% in 2017. Whereas Asia Pacific automotive aftermarket industry is growing at fastest rate, majorly driven by the growth of China automotive aftermarket industry, growing at a CAGR of +6.4% during forecast period.

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Industry Segmentation

On the basis of our in-depth analysis, Global Automotive Aftermarket Industry can be segmented as follows:

By Aftermarket Products and Services Type

  • Wear-and-Tear Parts
  • Crash-Relevant Parts
  • Accessories and Appearance Products
  • Diagnostics Products
  • Services (Fleet Management etc.)

By End Users Type

  • Service Providers (Telematics, Fleet Management etc.)
  • Independent Workshops
  • Automotive OEM Workshop

By Distribution Channels

  • Offline Distribution Channel
  • Online Distribution Channel

By Region

  • North America (US, Canada) {Industry Share (%), Industry Size (USD Billion, Adoption Rate (%)}
  • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Industry Share (%), Industry Size (USD Billion), Adoption Rate (%)}
  • Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Industry Share (%), Industry Size (USD Billion), Adoption Rate (%)}
  • Latin America (Brazil, Mexico and Rest of Latin America) {Industry Share (%), Industry Size (USD Billion), Adoption Rate (%)}
  • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Industry Share (%), Industry Size (USD Billion), Adoption Rate (%)}
  • Rest of the World {Industry Share (%), Industry Size (USD Billion), Adoption Rate (%)}

 

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 “Global Automotive Aftermarket Industry Outlook 2025” contains detailed overview of the global automotive aftermarket industry. On the basis of our in-depth analysis, industry can be segmented in terms of industry segmentation by aftermarket products and services type, end user and distribution channel.

Further, for the in-depth analysis, Global Automotive Aftermarket Industry Report encompasses the industry growth drivers, industry challenges, risk analysis, industry attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This industry report also includes competitive outlook of some of the major players profiling of companies such as 3M, Continental AG, Delphi Automotive PLC, Denso Corporation, Federal-Mogul Corporation, Magneti Marelli S.p.A., Goodyear Tire & Rubber Company, ZF Friedrichshafen AG, COOPER TIRE & RUBBER COMPANY, Robert Bosch GmbH, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents the global automotive aftermarket industry trends along with industry forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their industry centric strategies according to the ongoing and expected trends in the future.

Global automotive aftermarket is driving on the basis of advancement in the mentioned below industry:

Europe Automotive Aftermarket Industry

In the consolidated market of Europe, growth rate of the new vehicle sales over the last decade were below 2% p.a. At the same time, the average car age improved from 8.4 years to 9.7 in Europe. Europe automotive aftermarket revenue accounted for approximately USD 241.0 billion in 2017 or about 30% of global automotive aftermarket industry revenues. Further, the Europe automotive aftermarket industry is likely to expand at a CAGR of 3.1% over the forecast period i.e.2017-2025.

India Automotive Aftermarket Industry

Rising working population & growing middle class are anticipated to remain key growth drivers for automotive industry in the country. Indian automotive aftermarket industry revenue accounted for approximately USD 14.2 billion in 2017 or about 8.0% of total Asia Pacific automotive aftermarket industry revenues. Further, the automotive aftermarket industry is likely to expand at a CAGR of 7.6% over the forecast period i.e.2017-2025.

India Automotive Component Aftermarket Industry 

Rising working population & growing middle class are anticipated to remain key growth drivers for the automotive industry in the country. India automotive component aftermarket industry revenue accounted for approximately USD 7.4 billion in 2017. Further, the automotive component aftermarket industry is likely to expand at a CAGR of 10.1% over the forecast period i.e.2017-2025.

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