Growing demand for digitization of aftermarket services in automobiles is driving the demand for the market.

VANCOUVER, BRITISH COLUMBIA, CANADA, April 12, 2023 /EINPresswire.com/ -- The Global Automotive Aftermarket Market is projected to reach USD 518.04 billion in 2027. The market growth is expected to increase through the digitalization of automobile repair and parts manufacturing, along with advanced technological incorporations of the production of automotive aftermarket components. The growing acceptance of semi-autonomous, electric, and hybrid and independent vehicles is expected to further fuel the growth of the industry.

Substantial investments are anticipated from key players in digitizing product supply sales and services, along with online platforms selling aftermarket products in synchronous with global car suppliers. The online aftermarket sector is expected to enjoy strong growth in developing countries, thanks to the above-listed trade gateways. In addition, the increase in automotive product online sales is expected to fuel more increase in the market.

Automotive Aftermarket Market By Replacement Part (Battery, Tire, Brake Parts, Others), By Certification (Certified Parts, Genuine Parts, Others), By Service Channel (DIFM, DIY, OE, Others) and By Distribution Channel (Wholesalers & Distributors, Retailers), Forecasts to 2027

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Further key findings from the report suggest

The emphasis is strongly on digital methods for the full supply chain processes by the automakers, product suppliers and distributors, and original equipment manufacturers (OEMs).

The digitization of the networks and services would also allow customers to deepen their research and inform about the quality, location, and availability of services in the workshop before buying or repairing their vehicle.

Due to the growing number of weight vehicles and the rising age of the light vehicle fleet, the aftermarket must expand dramatically over the forecast period.

Manufacturers' innovative business models and strategies are anticipated to provide sustained market growth opportunities and rising investment in them.

Market Scope:

The report’s wide segmentation of the Automotive Aftermarket market, which takes into account the full range of product types, applications, end-user industry landscapes, important geographic regions, and leading market competitors. The report includes unbiased industry experts’ predictions for revenue generation over the estimated time as well as their opinions on the current market situation, historical market performance, production and consumption rates, demand and supply ratio, and other topics.

Further key findings from the report suggest

The emphasis is strongly on digital methods for the full supply chain processes by the automakers, product suppliers and distributors, and original equipment manufacturers (OEMs).

The digitization of the networks and services would also allow customers to deepen their research and inform about the quality, location, and availability of services in the workshop before buying or repairing their vehicle.

Due to the growing number of weight vehicles and the rising age of the light vehicle fleet, the aftermarket must expand dramatically over the forecast period.

Manufacturers’ innovative business models and strategies are anticipated to provide sustained market growth opportunities and rising investment in them.

Leading Players Profiled in the Report:

Bridgestone Corporation

Hella KGaA Hueck & Co.,

Denso Corporation,

Continental, ACDelco,

Delphi Automotive,

Fauraecia,

BASF,

Robert Bosch,

3M Company

SECONDARY RESEARCH MODEL

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources, annual report of companies, SEC filings, government press release, pricing databases and many more.

A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are referred thoroughly to have a comprehensive idea of the market taxonomy.

Segmental Analysis

The global Automotive Aftermarket market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Automotive Aftermarket sector in a strategic manner.

The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.

Replacement Part Outlook (Revenue: USD Billion; 2017-2027)

Tire

Battery

Brake Parts

Filters

Body parts

Lighting & Electronic Components

Wheels

Exhaust components

Turbochargers

Others

Certification Outlook (Revenue: USD Billion; 2017-2027)

Genuine Parts

Certified Parts

Uncertified Parts

Service Channel Outlook (Revenue: USD Billion; 2017-2027)

DIY

DIFM

OE

Research Methodology

Emergen Research follows a cohesive methodology to reduce the residual errors to a minimum level by refining the scope, validating through primary insights, and nurturing the in-house database on a regular basis. A dynamic model is formulated to capture the regular fluctuations in the market and thereby, being updated with any shifts in the market dynamics.

SECONDARY RESEARCH MODEL

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources, annual report of companies, SEC filings, government press release, pricing databases and many more.

Key geographical areas:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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Table of Content

Chapter 1. Methodology & Sources

1.1. Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

1.4.1. Primary

1.4.2. Secondary

1.4.3. Paid Sources

1.5. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2019-2027

Chapter 3. Key Insights

Chapter 4. Automotive Aftermarket Market Segmentation & Impact Analysis

4.1. Automotive Aftermarket Market Material Segmentation Analysis

4.2. Industrial Outlook

4.2.1. Market indicators analysis

4.2.2. Market drivers analysis

4.2.2.1. High demand for new technologies in vehicles and digitization

4.2.2.2. Increased sales of new and pre-owned vehicles

4.2.2.3. Ageing vehicle fleet along with poor road infrastructure

4.2.3. Market restraints analysis

4.2.3.1. Adoption of vehicle safety technologies and rising electric vehicle sales

4.2.3.2. Lack of skilled labor due to COVID-19

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About us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Emergen Research
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