Global Automotive Aftermarket Market Is Estimated To Reach USD 519 billion in 2026 - Polaris Market Research

Global Automotive Aftermarket Market expected to grow from USD 362 billion in 2017 to USD 519.2 billion by 2026, at a CAGR of 4% during the forecast period

Automotive aftermarket Market involves activities dealing with maintenance of vehicles after initial sale till the end of its lifecycle”
— Polaris Market Research

BROOKLYN, NY, UNITED STATES, February 8, 2018 / -- According to a new study published by Polaris Market Research Global Automotive Aftermarket Market generated USD 362 billion in 2017 and is anticipated to grow at a CAGR of 4% during the forecast period.

Automotive aftermarket involves activities dealing with maintenance of vehicles after initial sale till the end of its lifecycle. Components such as spare parts, and accessories needed for repair and maintenance of vehicles are offered by dealers and vendors in the market. Consumers are increasingly buying these products for maintenance and repair of vehicles in order to increase vehicle longevity.

The demand for automotive aftermarket has increased owing to increasing vehicle population, and growing awareness regarding proper vehicle maintenance. The growth in global automotive industry and increasing average age of vehicles has resulted in market growth. The growing need of long distance travel and changing lifestyles further increase the need for periodic repairs and replacements of vehicle parts. Growing demand from emerging economies, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.

The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Automotive Aftermarket Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.

North America generated the highest revenue in the market in 2017 owing to high disposable income and living standards in the region. Favorable regulations regarding production of automotive aftermarket components and technological advancements have resulted in increasing adoption of automotive aftermarket in the region.

Competitive Landscape and Key Vendors

The global automotive aftermarket market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

The leading companies profiled in the report include Royal Dutch Shell PLC, Denso Corporation, Johnsons Controls Inc., Exide Technologies, Inc., 3M Company, Delphi Automotive PLC, Magneti Marelli S.p.A, Goodyear Tire & Rubber Company, Robert Bosch GmbH, Cooper Tire & Rubber Company.

Key Segments

Segment – 1. Product

1.1 Tire
1.2 Wheels
1.3 Battery
1.4 Lighting
1.5 Exhaust Components
1.6 Body Parts
1.7 Accessories
1.8 Telematics
1.9 Others

Segment – 2. Vehicle Type

2.1 Passenger Vehicles
2.2 Commercial Vehicles

Segment – 3. Sales Channel

3.1 OEM
3.2 Professional Service Stations
3.3 Others

Segment – 4. Region

4.1 North America

4.1.1 U.S.
4.1.2 Canada
4.1.3 Mexico

4.2 Europe

4.2.1 Germany
4.2.2 UK
4.2.3 France
4.2.4 Italy
4.2.5 Rest of Europe

4.3 Asia-Pacific

4.3.1 China
4.3.2 India
4.3.3 Japan
4.3.4 Rest of Asia-Pacific

4.4 Latin America

4.4.1 Brazil
4.4.2 Rest of Latin America

4.5 Middle East and Africa

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