The Wholesale and Distribution Automotive Aftermarket Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Wholesale and Distribution Automotive Aftermarket Global Market Report 2024, The wholesale and distribution automotive aftermarket market size has grown strongly in recent years. It will grow from $224.35 billion in 2023 to $237.36 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to vehicle ageing population, increased vehicle ownership, extended vehicle lifespan, globalization of automotive production, e-commerce expansion.
The wholesale and distribution automotive aftermarket market size is expected to see strong growth in the next few years. It will grow to $304.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to electric and hybrid vehicle adoption, autonomous vehicle development, data analytics in maintenance, rise of mobility services, advanced materials in manufacturing. Major trends in the forecast period include product catalogs and SKU variety, predictive analytics for inventory management, private label and customized products, cross-border trading, mobile solutions for ordering.
The growing automotive industry is driving the wholesale and distribution automotive aftermarket market. The automotive industry comprises a diverse group of businesses and institutions engaged in the design, development, production, marketing, and sale of automobiles. Consumers’ changing interest and preference motivates automobile manufacturers to manufacture various styles and lines of automobiles. Technological advancement and the rise in economic conditions also lead to growth in the automotive industry. Automotive aftermarket aids the automobile industry by providing the spare parts needed by the customers when they buy a new or existing automobile. For instance, in 2021, according to the Society of Indian Automobile Manufacturers (SIAM), a not-for-profit apex national body representing all primary vehicle and vehicular engines, the automotive industry produced a total of approximately 23 million vehicles from April 2021 to March 2022, including passenger cars, commercial trucks, three-wheelers, two-wheelers, and quadricycles, compared to approximately 22.6 million units from April 2020 to March 2021. Therefore, the growing automotive industry is expected to propel the growth of the wholesale and distribution automotive aftermarket market.
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The wholesale and distribution automotive aftermarket market covered in this report is segmented –
1) Wholesale and Distribution Automotive Aftermarket Market By Replacement Part: Tire, Battery, Brake parts, Filters, Body Parts, Lighting and Electronic Components, Wheels, Exhaust Components, Other Replacement Parts
2) Wholesale and Distribution Automotive Aftermarket Market By Certification: Genuine Parts, Certified Parts, Uncertified Parts
3) Wholesale and Distribution Automotive Aftermarket Market By Distribution Channel: Retailers, Wholesalers, Distributors
Top Major Players
Johnson & Johnson
Medtronic PLC
Siemens Healthineers AG
Stryker Corporation
GE Healthcare ies
3M Company
Major companies in the wholesale and distribution automotive aftermarket market are focused on developing innovative products, such as a new aftermarket product line, to better support their customers on the road with unsurpassed responsiveness and a compelling value proposition. For instance, in March 2021, Navistar, a US-based holding company that manufactures commercial and military trucks, diesel engines, and school and commercial buses, launched Diamond Advantage Diesel Parts, a new aftermarket product line for Class 2-5 diesel engines and engine components. This launch introduces a comprehensive aftermarket product line for Class 2-5 diesel engines, featuring high-quality components for major diesel engine models. Leveraging efficient distribution through parts distribution centers, a compelling value proposition, and a commitment to on-road customer support, Diamond Advantage is poised to significantly drive growth in the Wholesale and Distribution Automotive aftermarket by offering a superior and accessible solution to both customers and distributors.
The wholesale and distribution automotive aftermarket market report table of contents includes:
1. Executive Summary
2. Wholesale and Distribution Automotive Aftermarket Market Characteristics
3. Wholesale and Distribution Automotive Aftermarket Market Trends And Strategies
4. Wholesale and Distribution Automotive Aftermarket Market – Macro Economic Scenario
5. Global Wholesale and Distribution Automotive Aftermarket Market Size and Growth
…..
32. Global Wholesale and Distribution Automotive Aftermarket Market Competitive Benchmarking
33. Global Wholesale and Distribution Automotive Aftermarket Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Wholesale and Distribution Automotive Aftermarket Market
35. Wholesale and Distribution Automotive Aftermarket Market Future Outlook and Potential Analysis
36. Appendix
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https://www.thebusinessresearchcompany.com/report/automotive-wheel-global-market-report
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