Automotive Aftermarket Market Report 2021 Key Leaders Analysis, Segmentation, Growth, Future Trends, Gross Margin, Demands, Emerging Technology by Regional Forecast to 2030| With COVID-19 Impact Analysis

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The global automotive aftermarket size is expected to be worth around US$ 550.25 billion by 2030, according to a new report by Vision Research Reports.

The global automotive aftermarket size was valued at US$ 395.10 billion in 2020 and is anticipated to grow at a CAGR of 4.8% during forecast period 2021 to 2030.

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Automotive Aftermarket (By Replacement Parts: Tire, Battery, Brake Parts, Filters, Body Parts, Lighting & Electronic Components, Wheels, Exhaust Components, Turbochargers, Others By Distribution Channel: Retailers, Wholesalers & Distributors; By Service Channel: DIY (Do it Yourself), DIFM (Do it for Me), OE (Delegating to OEM’s); By Certification: Genuine Parts, Certified Parts, Uncertified Parts) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030

Report Coverage

Report Scope Details
Market Size USD 550.25 billion by 2030
Growth Rate CAGR of 4.8% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Replacement parts, Distribution channel, Certification, Service Channel,
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned 3M Company; Continental AG; Cooper Tire & Rubber Company; Delphi Automotive PLC; Denso Corporation; Federal-Mogul Corporation; HELLA KGaA Hueck & Co.; Robert Bosch GmbH; Valeo Group; ZF Friedrichshafen AG

Growth Factors

Digitalization of automotive repair & 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, EV and hybrid and autonomous cars in the years to come is further expected to bolster the demand for new components.

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

By Replacement Parts Analysis

In terms of market size, the others segment accounted the market with a share of 50.19% in 2020. The tire segment would be the largest in terms of the replacement part and is anticipated to dominate the market in terms of size.

The aftermarket replacement part suppliers comprise various accessories suppliers, lubricants, tire suppliers, and other component replacement suppliers. Further, the industry value chain comprises service enablers such as repairing services providers and entertainment service providers.

Growth in the disposable proceeds of patrons in developing nations, such as China and Brazil, is expected to positively impact the growth rate of the market. The growing demand for locomotives is projected to trigger the demand for automobile component sales.

By Distribution Channel Analysis

In terms of market size, the retail segment accounted the market with a share of 58.2% in 2020. The retail segment is anticipated to dominate the market arena in terms of size by 2028. The Wholesale and distribution segment would witness relatively fast growth in terms of revenue from 2021 to 2028.

The increasing influence of technological advancement is transforming the market towards digitization. The aftermarket is going online, and the marketplace is changing. Parts and services are being sold online. Every player in the value chain such as Original Equipment Manufacturers (OEMs), Original Equipment Suppliers (OESs),

By Service Channel Analysis

In terms of market size, the original equipment segment accounted the market with a share of 73.9% in 2020. The OE segment is anticipated to dominate the aftermarket arena in terms of size by 2028. The DIY segment would witness relatively fast growth in terms of revenue from 2021 to 2028.

The aftermarket service channel comprises members such as raw material suppliers, tier 1 distributors, automobile exhaust hubs/ manufacturing units, and aftermarket units comprising jobbers and ultimately the repair shops. Repair centers are the important stakeholders in the service channel.

By Certification Analysis

In terms of market size, the genuine parts segment accounted the market with a share of 53.2% in 2020. The genuine parts segment is anticipated to dominate the aftermarket arena in terms of size by 2028. The uncertified segment would witness relatively fast growth in terms of revenue from 2021 to 2030.

Certified parts are cost-effective alternatives to costly genuine parts. Uncertified parts can be used instead of the original automotive parts. Uncertified parts are not approved by the carmaker. However, the low cost of uncertified parts creates significant growth opportunities for the segment in the forthcoming years.

By Regional Analysis

Asia Pacific accounted the market with a revenue share of 29.0% in 2020. Asia Pacific market is also expected to deliver significant growth from 2021 to 2030. Advanced technology usage in the fabrication of auto parts, a surge in consumer and passenger automobile production and sales, and digitalization of automotive component delivery services are anticipated to spur automotive sales in the region.

The prototype is anticipated to show better results than the existing automobiles. Such rules have pressurized the component suppliers to produce environment-friendly, high-efficiency automotive components for the native and global markets. Over the past few years, emerging economies, comprising China, India, and Brazil, have validated insistent developments, which are expected to bid on thriving prospects to the segment growth in the Asia Pacific region.

Key Players

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

Market Segmentation

  • Replacement Parts
    • Tire
    • Battery
    • Brake Parts
    • Filters
    • Body Parts
    • Lighting & Electronic Components
    • Wheels
    • Exhaust Components
    • Turbochargers
    • Others
  • Distribution Channel
    • Retailers
      • OEMs
      • Repair Shops
    • Wholesalers & Distributors
  • Service Channel
    • DIY (Do it Yourself)
    • DIFM (Do it for Me)
    • OE (Delegating to OEM’s)
  • Certification
    • Genuine Parts
    • Certified Parts
    • Uncertified Parts
  • Regional
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • Germany
      • U.K.
      • France
    • Asia Pacific
      • China
      • Japan
      • India
    • South America
      • Brazil
    • MEA

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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