Automotive After Market Forecast Analysis by Manufacturer, Types, Applications and Regions 2020 – 2025

Posted on 2020-08-31 by researchinsights in Automotive // 0 Comments

31st Aug 2020 – The global Automotive After Market valuation is expected to cross USD 486.36 billion by 2025. Automotive after market is driven by factors such as rise in buyers’ awareness regarding routine maintenance, convenience, and safety along with add-on services such as internal and external accessories and exhaust components. In addition, change in lifestyle and the need for commuting long distance travels leads in average distance driven per vehicle. The market witnesses numerous opportunities in form of availability of variants for spare parts and accessories. Automotive after market, however, encounters negative setback in form of stringent policies by government, dearth of labor, and loopholes in record retrieving systems for older vehicles.

Automotive industry is enormous in Western Europe, Eastern Europe, Russia, China, and India. The market is witnessing significant changes along with growing importance not only for brand new cars but also in the after market domain. Customers’ expectation, technological growth, automotive suppliers, and shifts in competitive power help in revamping and development of automotive aftermarket.

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Emerging markets seem to create new needs for after market industry and simultaneously, the market players may encounter challenges such as rising pace of consolidation, particularly in European counterparts and U.S. On the other hand, automotive suppliers operate in a highly stable environment to face a new type of competitive pressure from other players at alternate stages of after market value chain. Market trends such as major shifts in after market industry coupled with technological upgrade at periodic intervals prove to be game-changing factors for major players to maintain a strong market position.

The automotive after market segmentation includes product, replacement, distribution channel, sales outlet and geography. Replacement type comprises tire, battery, brake parts, filters, lighting, electronic components and body parts. Tire segment is expected to account for higher growth in the forecast period. Distribution channel segmentation includes retailers and wholesalers. Retailers segment would account for dominant position in the forthcoming period.

The key players in the automotive after market include 3M Company, Delphi Automotive PLC, Denso Corporation, Continental AG, Federal-Mogul Corporation, Magneti Marelli S.p.A, and Robert Bosch GmbH.

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Automotive after market Regional Outlook (Revenue, USD Billion, 2014 – 2025)

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Asia Pacific
China
India
Japan
South America
Brazil
Middle East & Africa

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