ASEAN Automotive Aftermarket Poised for Steady Rise, Forecasted Revenue of US$ 55.53 Billion by 2033

The ASEAN automotive aftermarket is expected to expand its roots at a steady CAGR of 8.5% during the forecast period. The market is likely to hold a revenue of US$ 24.56 billion in 2023, while it is anticipated to surpass US$ 55.53 billion by 2033.

Automotive aftermarket, as the name suggests, implies secondary market pertaining to the automotive vertical that does deal with production, re-production, distribution, retailing, and installing vehicle parts, accessories, and equipment. These functionalities come into picture post sales of automobiles by the OEMs. This automotive aftermarket actually deals with batteries, oil and lubricants, filters, tires, alternators and starters, paint consumables and coatings, spark plugs, exhaust components, crash parts, and likewise. Plus, there are exterior and interior accessories such as video/audio devices, parking brake handles, steering wheels, headlight covers, grills, shift boots, rear & front guards, mirrors, and likewise. These days, DIY segments are available to help with repairing the vehicles as well.

Get Access to Sample Now:

Growing demand for vehicles along with rising urban population density is expected to bolster ASEAN automotive production output. Apart from First Car Scheme Policy implemented by government of Thailand (since 2012-13) providing tax rebate of US$ 3250 has resulted in ~30% increase in sales of vehicles in Thailand. Besides, as per Organisation Internationale des Constructeurs d’Automobiles (OICA), passenger cars’ sales in Singapore did increase four-fold in 2012-16 alone. In Philippines, these sales did increase three-fold in 2012-16.

The ongoing trend is that of self-inflating tires being increasingly adopted. Participants like Rubber Company and Goodyear Tire are at the forefront herein. This self-inflating tire system does work on the air maintenance technology, which makes use of peristaltic pump for maintaining the pressure. Unwanted maintenance costs could also be averted. Another trend is that of deployment of silicon anode batteries as they tend to have a higher energy density and provide an enhanced battery life.

At the same time, the fact that the end-users are inconsiderate toward maintenance and services may hinder ASEAN Automotive Aftermarket.

Future Market Insights has entailed these facets with future perspectives in its latest market study entitled ‘ASEAN Automotive Aftermarket’ through its dedicated team of analysts and consultants going for a 360-degree view in primary, secondary, and tertiary modes of research.

“ASEAN automotive aftermarket is expected to be swept by growing demand for warranty vehicles all across Thailand”, says an analyst from Future Market Insights.

Request for Customization:

Key Takeaways from ASEAN Automotive Aftermarket

  • Indonesia accounts for more than 30% of the market share. This could be credited to presence of huge number of key participants herein.
  • Thailand stands second with respect to contribution through revenue. This could be reasoned with the start of Car Scheme Policy starting 2012. Bangkok is known as a profitable market on the count of independent automobile aftermarket services.

Competitive Aftermarket

  • Aisin Seiki Co. Ltd., in December 2019, did announce setting up Kyushu Development Center Hakata Laboratory for AI technologies at Fukuoka City (Japan) with the objective of strengthening the AI infrastructure.
  • Continental AG, in October 2019, completed acquisition of automotive aftermarket business of CRP Industries.
  • Bridgestone Corporation, in August 2022, did announce expanding and modernizing Morrison-based Warren County, Tennessee Truck and Bus Radial (TBR) Tire Plant. The company has invested US$ 550 Million for expanding the existing footprint by 850K sq. ft. for accelerating usage of advanced technologies supporting safer, cleaner, and more efficient commercial bus and truck fleets and also for supporting increasing capacity.
  • ACDelco, in July 2021, did transfer the non-automotive products as well as aftermarket services to Denso Solution Corporation. This transfer was inclusive of product planning, development, and aftersales service functions that were undertaken by Denso’s Automotive & Life Solutions Division.

Key Companies Profiled

NGK Spark Plug, ZF Friedrichshafen AG, Continental AG, Robert Bosch GmbH, HELLA GmbH & Co. KGaA, Denso Corporation, AC Delco, AISIN CORPORATION, Marelli Corporation, Bridgestone Corporation, Faurecia SA, Hitachi Astemo Ltd, Valeo SA, Michelin, Mahle GmbH, KYB Corporation, BorgWarner Inc., SAMMITR GREEN POWER CO., LTD., Bangkok Diecasting and Injection Co., Ltd., Aisin Takaoka Asia Co.,Ltd., S.P.Metal Part co.,Ltd., Tan Chong Motor Holdings Berhad,

Speak to our Research Expert:

Key Market Segments Covered

Category Type:

  • Parts
    • Tires
    • Batteries
    • Filters
    • Starters and Alternators
    • Lighting
    • Exhaust Components
    • Lubricants
    • Collision Body (Coating & Paint Consumables)
    • Suspension
    • Brakes
    • Engine & Transmission
    • Spark Plugs
    • Steering
  • Accessories
    • Interior
    • Exterior
  • Services
    • General Automotive Repair
    •  Automotive Transmission and Others

Vehicle Type:

  • Passenger Car
  •  Light Commercial Vehicle
  •  Heavy Commercial Vehicle


  • Malaysia
  •  Indonesia
  •  Philippines
  •  Vietnam
  •  Singapore
  •  Thailand
  • Rest of ASEAN


Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times. 

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Nandini Singh Sawlani   

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries:
LinkedInTwitterBlogs | YouTube


Matched content

Editor’s pick

Express Press Release Distribution