Global Automotive Aftermarket Market size was valued at US$ 568.17 Bn. in 2021 and the total revenue is expected to grow at 6.2 % through 2022 to 2029, Automotive Aftermarket Market is reaching nearly US$ 919.33 Bn. by 2029.
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Automotive Aftermarket Market Scope:
The report provided by MMR is a detailed study of the Automotive Aftermarket market, this study has also recognized all the major players in the global market based on the factors like volume, share, strategies, growth, etc. The report also suggests strategies for current market players as well as those who want to enter the market. The synopsis is expected to help and strengthen their position in the market
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Market overview:
The report has analyzed the market using various marketing methods like Porter’s five forces, market share analysis, SWOT analysis, etc. In Porter’s five forces, the factors and dynamics of the global market are recognized
This analysis is evaluated on various factors such as patents, government rules, and regulations, the impact of advertisements, the impact of COVID-19. All this data is expected to help in the decision-making process.
Automotive Aftermarket Market Segment:
Retailers and Wholesalers make up the market’s two sub-segments based on the distribution channel. With a 57.2% market share in 2021, the retail sector led the industry. By 2029, the wholesale and distribution sector is anticipated to grow at a reasonably rapid rate in terms of revenue, while the retail sector is anticipated to dominate the industry in terms of size. Since prompt replacement of automotive components is necessary to maintain the overall performance of the vehicle, automotive aftermarket economies are essential elements of the overall automotive manufacturing and maintenance scheme.
As a result of the expanding impact of technological innovation, the market is being digitalized. The market is changing and the aftermarket is going more digital. Online shopping is offered for both parts and services. The rising online aftermarket trend is being addressed by original equipment manufacturers (OEMs), original equipment suppliers (OESs), distributors, insurance, and workshops. A few of the factors anticipated to fuel market growth over the course of the forecast period include the increased use of advanced technologies in the fabrication of auto parts, an increase in the production of consumer and passenger vehicles, and the digitization of automotive repair and maintenance services.
The market is divided into Tier, Battery, Brake parts, Filters, and others according on the vehicle replacement part. In 2021, the tyre subsegment will hold the biggest market share,%. Despite having a shorter replacement cycle than their peers in the component, tyres are expected to hold the top spot. The suppliers of aftermarket replacement parts include numerous suppliers of accessories, lubricants, tyres, and other component replacements. The industry value chain also includes service enablers like providers of repair services and entertainment services. Hybrid electric car demand is surging in the automotive industry, which will reduce demand for exhaust parts and specialised tools for these specialised vehicles. This restriction is due to the increase in the cost of petrochemicals and fuel.
- Global Automotive Aftermarket Market: Research Methodology
- Global Automotive Aftermarket Market: Executive Summary
- Market Overview and Definitions
- Introduction to Global Automotive Aftermarket Market
- Summary
- Key Findings
- Recommendations for Investors
- Recommendations for Market Leaders
- Recommendations for New Market Entry
- Global Automotive Aftermarket Market: Competitive Analysis
- MMR Competition Matrix
- Market Structure by region
- Competitive Benchmarking of Key Players
- Consolidation in the Market
- M&A by region
- Key Developments by Companies
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Market Dynamics
- PORTERS Five Forces Analysis
- PESTLE
- Regulatory Landscape by region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- COVID-19 Impact
- Global Automotive Aftermarket Market Segmentation
- Global Automotive Aftermarket Market, by Vehicle Replacement Part (2021-2029)
- Global Automotive Aftermarket Market, by Distribution channel (2021-2029)
- Global Automotive Aftermarket Market, by Service (2021-2029)
- Regional Automotive Aftermarket Market(2021-2029)
- Regional Automotive Aftermarket Market, by Vehicle Replacement Part (2021-2029)
- Regional Automotive Aftermarket Market, by Distribution channel (2021-2029)
- Regional Automotive Aftermarket Market, by Service (2021-2029)
- Regional Automotive Aftermarket Market, by Country (2021-2029)
- Company Profile: Key players
- Company Overview
- Financial Overview
- Global Presence
- Capacity Portfolio
- Business Strategy
- Recent Developments
Automotive Aftermarket Market Key players:
• Continental AG
• 3M Company
• Akebone Brake Corporation
• Delphi
• Federal-Mogul
• Denso
• Magneti Marelli
• Robert Bosch
• ACDElco
• ASIMCO Technologies ltd
• Cooper Tire & Rubber Company
• HELLA KGaA Hueck & Co.
• Robert Bosch GmbH
• Valeo Group
• ZF Friedrichshafen AG
• Robert Bosch GmbH
• Magna International Inc.
• Aisin Seiki Co.
• Hyundai Mobis
• Lear Corp.
• Faurecia
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Regional Analysis:
- North America (Canada, the United States, and Mexico.).
- Europe (France, Russia, Italy, Germany, UK, Turkey, etc.).
- Africa and the Middle East (Egypt and GCC Countries.).
- Asia-Pacific (Vietnam, Philippines, Malaysia, Korea, China, Thailand, Australia, Indonesia, and India, Japan).
- South America (Brazil etc.).
COVID-19 Impact:
COVID-19 has impacted many businesses and industries. The long-term effects of this are also present in the report, problems caused by COVID-19 are also mentioned in this report and the probable solution to those is mentioned too. Considering the COVID-19 norms there are changes in the rules and regulations of the market. The solutions given in the report are expected to help those affected by the Covid-19 crisis.
Highlights Of the Automotive Aftermarket Market Study:
- It gives a detailed view of the market.
- The report mentions development strategies that will help the users.
- Recent market trends are also listed in the report.
- COVID-19 issues and the solution to those.
- The report is based on historical and current market analysis.
- It also mentions the factors affecting the growth of the market.
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