Automotive Aftermarket Market Demand, Growth And Development Trends By 2022 - 2030..

The global automotive aftermarket industry size is expected to reach USD 559.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 3.4% from 2022 to 2030. Digitalization of automotive repair and component sales complemented by advanced technology incorporations in the automobile aftermarket component manufacturing is expected to boost the market growth. The surging reception of semi-autonomous, electric vehicles, and hybrid and autonomous cars, in the years to come, is further expected to bolster the demand for new components.

Automotive Aftermarket Segmentation

Grand View Research has segmented the global automotive aftermarket industry based on replacement part, distribution channel, service channel, certification, and region:

Based on the Replacement PartInsights, the market is segmented into Tire, Battery, Brake parts, Filters, Body parts, Lighting & Electronic components, Wheels, Exhaust components, Turbochargers and Others.

  • In terms of market size, the others segment dominated the market with a share of 48.7% in 2021.
  • The tire segment would be the largest segment in terms of the replacement parts and is anticipated to dominate the marketin terms of size.
  • The modern age production technology, such as 3D printing of automotive parts, is extensively being deployed by major players in the industry to optimize their production costs, with 3D printing enabling efficient fabrication performance and reduction of emission toxicity.

Based on the Distribution Channel Insights, the market is segmented into Retailersand Wholesalers & Distributors.

  • In terms of market size, the retail segment dominated the market with a share of 56.6% in 2021.
  • The retail segment is anticipated to dominate the market arena in terms of size by 2030.
  • The wholesale and distribution segment would witness relatively fast growth in terms of revenue from 2022 to 2030.

Based on the Service ChannelInsights, the market is segmented into DIY (Do It Yourself), DIFM (Do It for Me) and OE (Delegating to OEM’s).

  • In terms of market size, the original equipment segment dominated the market with a share of 72.0% in 2021.
  • The OE segment is anticipated to dominate the aftermarket arena in terms of size by 2030.
  • The DIY segment would witness relatively fast growth in terms of revenue from 2022 to 2030.

Based on the Certification Insights, the market is segmented into Genuine Parts, Certified Partsand Uncertified Parts.

  • In terms of market size, the genuine parts segment dominated the market with a share of 52.0% in 2021.
  • The genuine segment is anticipated to dominate the aftermarket arena in terms of size by 2030.
  • Uncertified segment would witness relatively fast growth in terms of revenue from 2022 to 2030.

Automotive AftermarketRegional Outlook

  • North America
  • Europe
  • Asia Pacific
  • SouthAmerica
  • MEA

Key Companies Profile& Market Share Insights

Technological proliferation and increasing investments in R&D activities by manufacturers and associations are expected to drive the industry growth. There are numbers of domestic and regional competitors prevailing in the market that are challenged to deliver innovative offerings, which help buyers to address the changing technologies, security needs, and business practices.

Some prominent players in the Automotive Aftermarket include

  • 3M Company
  • Continental AG
  • Cooper Tire & Rubber Company
  • Delphi Automotive PLC
  • Denso Corporation
  • Federal-Mogul Corporation
  • HELLA KGaAHueck& Co.
  • Robert Bosch GmbH
  • Valeo Group
  • ZF Friedrichshafen AG

Order a free sample PDF of the Automotive Aftermarket Intelligence Study, published by Grand View Research.

Comments

Post a Comment

Popular posts from this blog

Medical Device Validation & Verification Market Outlook Till, 2020-2027

The global medical device validation and verification market size is expected to reach USD 1.1 billion by 2027, expanding at a CAGR of 11.1% over the forecast period, according to a new report by Grand View Research, Inc. Download Free Sample -  https://www.radiantinsights.com/research/medical-device-validation-&-verification-market/request-sample Increase in demand for advanced and quality medical products and rising complexity with respect to product designing and engineering are anticipated to boost market growth. Rapid innovations in healthcare have increased the need for companies to incorporate new technologies and software applications in their products to meet the demand for validation and verification. Increase in product complexity, availability of newer types of material, and high risk of product failures are some of the key factors increasing the need for validation and verification services. North America dominated the global medical device validation and verificat...
Read more

Athleisure Market Product Estimates & Strategy Framework To 2022 - 2030.

The global  athleisure market  size is expected to reach USD 662.56 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.9% from 2022 to 2030. Athleisure is a popular category because it taps into several broad trends, including a global shift toward consumers wearing more casual clothing, consumers seeking comfortable clothing, and health-conscious consumers engaging in more athletic activities and requiring performance clothing for these activities. True Fit's Fashion Genome (via Direct Commerce), which analyses data from 17,000 brands and 180 million True Fit users, confirms that athleisure orders have increased by 84 percent since the pandemic began; sales of women's athleisure bottoms in the United Kingdom alone were five times higher in December 2020 than in April 2020. In addition, order volumes for men's athleisure wear sales increased by 20% from the previous year. Target's activewear line, All ...
Read more

Light Curing Coating Global Market Size Comparison, Analysis, 2020

UV light-curing equipment is ideal for industrial bonding, coating, encapsulating, and potting, as well as sealing applications. In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Light Curing Coating Report by Material, Application, and Geography - Global Forecast to 2023 is a professional and comprehensive research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China). Download Free Sample Copy  -  https://www.radiantinsights.com/research/global-light-curing-coating-market-research-report-2020-2024/request-sample In this report, the global Light Curing Coating market is valued at USD XX million in 2020 and is projected to reach USD XX million by the end of 2024, growing at a CAGR of XX% during the period 2020 to 2024. The report first...
Read more