Automotive Aftermarket is expected to Witness Considerable Growth Over Forecast Period, 2019-2025

[30 Apr, 2019] The global automotive aftermarket size is expected to reach USD 486.4 billion by 2025, expanding at a CAGR of 3.9% over the forecast period. Digitalization of auto repair and component sales, complemented by advanced technology incorporations in automobile aftermarket component manufacturing, is expected to benefit market expansion. Surging reception of semi-autonomous, electric vehicles, and hybrid and autonomous cars is further expected to bolster the new component market growth in the years to come. The market can be categorized, based on replacement parts, into tire, battery, brake parts, filters, body parts, lighting and electronic components, wheels, exhaust components, and turbochargers.

Increasing vehicle penetration is driven by overall improvement of lifestyle in developing countries such as India and Brazil and is expected to drive the automobile industry. Similar surges in the auto manufacturing sector across various regions, along with increasing stringent emissions norms, are expected to drive aftermarket component sales over the forecast period.

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Asia Pacific is expected to emerge as the fastest-growing regional market for automotive collision repair services over the forecast period, owing to its developing living standards and high vehicle production. It is also anticipated to be the fastest-growing market in automobile production. With increasing penetration and acceptance of gas and hybrid electric cars, specialized repair centers dedicated to repair particular vehicles are expected to increase. The market is also expected to witness tremendous growth due to an upsurge in the number of vehicle collisions, along with inclination of owners towards repair of their automobiles.

Further key findings from the study suggest:

• The market is estimated to grow significantly over the forecast period, owing to an increase in number of lightweight vehicles, coupled with increasing age of the light vehicle fleet

• North America has a higher technology adoption rate, which is anticipated to result in faster and higher adoption of hybrid electric automobiles in the region as compared to other geographical regions

• The market is anticipated to witness a phase change owing to growing proportion of specialized auto collision repair centers that are dedicated to serving specific vehicles, such as alternate fuel powered vehicles

• Key industry participants include Magneti Marelli S.p.A., Continental AG, 3M Company, Federal-Mogul Corporation, Delphi Automotive PLC, Robert Bosch GmbH, and Denso Corporation.

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Table of Contents:

Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources

Chapter 2 Executive Summary
2.1 Automotive aftermarket - Market Snapshot & Key Buying Criteria, 2014 - 2025

Chapter 3 Automotive Aftermarket Variables, Trends & Scope
3.1 Market Segmentation & Scope
3.2 Automotive Aftermarket Size and Growth Prospects
3.3 Automotive aftermarket - Value Chain Analysis
3.3.1 Automotive aftermarket - Supply chain analysis
3.4 Market Dynamics
3.4.1 Market Driver Analysis
3.4.1.1 Advanced technology usage in auto parts fabrication

Chapter 4 Automotive Aftermarket: Replacement Part Estimates and Trend Analysis
4.1 Automotive Aftermarket: Replacement Part Movement Analysis
4.1.1 Tire
4.1.1.1 Market estimates and forecasts, by region, 2014 - 2025 (USD Million)
4.1.1.2 Basic Part
4.1.1.2.1 Market estimates and forecasts, by region, 2014 - 2025 (USD Million)
4.1.1.3 Performance Part
4.1.1.3.1 Market estimates and forecasts, by region, 2014 - 2025 (USD Million)
4.1.2 Battery

Continued...

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