Automotive Aftermarket To Witness Commendable Growth With Revenue $513.8 Billion By 2027
The global automotive aftermarket size is projected to reach USD 513.8 billion by 2027
The global automotive aftermarket size is projected to reach USD 513.8 billion by 2027
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Automotive Aftermarket To Witness
Commendable Growth With Revenue $513.8
Billion By 2027
“The global automotive aftermarket size is projected to reach USD 513.8 billion by
2027, according to Million Insights. The major factor responsible for boosting the
market growth is the easy availability of automotive components on e-portal and the
introduction of new players who offer quality components compared to its
original/stock counterpart at a much lower price is expected to boost the market
growth.”
Global Automotive Aftermarket Industry report delivers future development strategies, key companies, Possibility of
competition, major challenges analysis. The reports elaborate the expansion rate of the Automotive Aftermarket
supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation
for the developing segment among the industry. Automotive Aftermarket report will help you take expert decisions,
recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give
you a vision on the Automotive Aftermarket forecast.
The Automotive Aftermarket report discusses the primary industry growth drivers and challenges that the vendors and
the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the
market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific,
Europe, the Middle East, and Africa regions.
The global automotive aftermarket size is projected to reach USD 513.8 billion by 2027, according to Million Insights. The
major factor responsible for boosting the market growth is the easy availability of automotive components on e-portal
and the introduction of new players who offer quality components compared to its original/stock counterpart at a much
lower price is expected to boost the market growth. Increasing penetration of electric vehicles, autonomous and hybrid
cars, and semi-autonomous cars is projected to propel the market growth over the next few years.
Request Sample Copy of This Market Research @
https://www.millioninsights.com/industry-reports/global-automotive-aftermarket-industry/request-sample
Growth of automotive manufacturing across the globe along with strict norms regarding harmful gas emission is
anticipated to boost the demand for aftermarket component sales during the projected years. Moreover, technological
advancement and increasing penetration of third-party services are expected to open new avenues for automotive
aftermarket growth. Growing pre-owned vehicle sales is expected to surge the market growth in order to improve the
vehicle performance, as owners of pre-owned vehicles would prefer aftermarket components or parts which are
cheaper than the stock component but equivalent in quality and performance. In addition, ageing vehicle fleet along
with increasing demand for replacement parts is expected to escalate the revenue generation in this industry.
In developing regions, market players are implementing several strategies such as partnerships, mergers, and
acquisitions to strengthen their position in the automotive aftermarket. Asia Pacific is projected to emerge as the
fastest-growing region due to high production rate of automobile in the region.
Browse Full Research Report @
https://www.millioninsights.com/industry-reports/global-automotive-aftermarket-industry
Further key findings from the report suggest:
• The market is expected to witness significant growth over the forecast period due to increasing requirement for timely
maintenance of vehicle parts.
• Growing investment by manufacturers for product innovations is expected to open new market growth opportunities
over the forecast period.
• Europe is early adopter of new technologies in automotive industry which is expected to witness high adoption rate of
hybrid vehicles than other regions.
• This market is expected to gain traction due to rising number of collision repair centres across the globe.
• The major industry participants are Continental AG, 3M Company, Federal-Mogul Corporation, Magneti Marelli S.p.A.,
Denso Corporation, Robert Bosch GmbH, and Delphi Automotive PLC.
Million Insights segmented the global automotive aftermarket market on the basis of replacement part, distribution
channel, service channel, certification, and region:
Automotive Aftermarket Replacement Part Outlook (Revenue, USD Billion, 2016 - 2027)
• Tire
• Battery
• Brake Parts
• Filters
• Body parts
• Lighting & Electronic Components
• Wheels
• Exhaust components
• Turbochargers
• Others
Automotive Aftermarket Distribution Channel Outlook (Revenue, USD Billion, 2016 - 2027)
• Retailers
• OEMs
• Repair Shops
• Wholesalers & Distributors
Automotive Aftermarket Service Channel Outlook (Revenue, USD Billion, 2016 - 2027)
• DIY (Do it Yourself)
• DIFM (Do it for Me)
• OE (Delegating to OEM’s)
Automotive Aftermarket Certification Outlook (Revenue, USD Billion, 2016 - 2027)
• Genuine Parts
• Certified Parts
• Uncertified Parts
Automotive Aftermarket Regional Outlook (Revenue, USD Billion, 2016 - 2027)
• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K.
• Germany
• France
• Asia Pacific
• China
• India
• Japan
• South America
• Brazil
• Middle East & Africa
See More Reports of this Category by Million Insights @
https://www.millioninsights.com/industry/automotive-and-parts
Get in touch
At Million Insights, we work with the aim to reach the highest levels of customer satisfaction.
Our representatives strive to understand diverse client requirements and cater to the same with
the most innovative and functional solutions.
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Ryan Manuel
Research Support Specialist, USA
Email: ryan@millioninsights.com
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