05.10.2021 Views

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.

Contact Person:

Ryan Manuel

Research Support Specialist, USA

Email: ryan@millioninsights.com

Global Headquarters

Million Insights

410 E Santa Clara Street, Unit #1008 San Jose, CA 95113, United States

Phone: 1-408-610-2300

Email: sales@millioninsights.com

Asia Pacific

Million Insights

Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016

India

Phone: 91-8956380892

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