Automotive Aftermarket To Witness Commendable Growth With Revenue $513.8 Billion By 2027

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Growth of automotive manufacturing across the globe along with strict norms regarding harmful gas emission isanticipated to boost the demand for aftermarket component sales during the projected years. Moreover, technologicaladvancement and increasing penetration of third-party services are expected to open new avenues for automotiveaftermarket growth. Growing pre-owned vehicle sales is expected to surge the market growth in order to improve thevehicle performance, as owners of pre-owned vehicles would prefer aftermarket components or parts which arecheaper than the stock component but equivalent in quality and performance. In addition, ageing vehicle fleet alongwith 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, andacquisitions to strengthen their position in the automotive aftermarket. Asia Pacific is projected to emerge as thefastest-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-industryFurther key findings from the report suggest:• The market is expected to witness significant growth over the forecast period due to increasing requirement for timelymaintenance of vehicle parts.• Growing investment by manufacturers for product innovations is expected to open new market growth opportunitiesover the forecast period.• Europe is early adopter of new technologies in automotive industry which is expected to witness high adoption rate ofhybrid 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, distributionchannel, 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• OthersAutomotive Aftermarket Distribution Channel Outlook (Revenue, USD Billion, 2016 - 2027)• Retailers• OEMs• Repair Shops• Wholesalers & DistributorsAutomotive 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
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Automotive Aftermarket To Witness Commendable Growth With Revenue $513.8 Billion By 2027

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