Automotive Aftermarket Market size was valued at US$ 412.2 Bn. in 2020 and the total revenue is expected to grow at 7.67 % through 2021 to 2027, Automotive Aftermarket Market is reaching nearly US$ 728.2 Bn. by 2027.
Automotive Aftermarket Market Overview:
Automotive Aftermarket Market 2021 by Manufacturers, Regions, Type and Application, forecast to 2027, published by Maximize Market Research, is the culmination of thorough primary and secondary research. The study completely examines analysed insights in light of the market, as well as its ever-changing trends, industry environment, and all of the market's leading elements. This research approach was used to investigate the Automotive Aftermarket market, and the results were logically presented in this report.
Automotive Aftermarket Market Scope:
Automotive Aftermarket Market 2021 research report 2027 includes crucial statistics and analytical insights to provide a comprehensive understanding of the market size, share, growth, trend, demand, top player and industry profile, opportunities, value cycle, end-users, technology, types, and application. The research will also include accessible opportunities in micro markets for stakeholders to invest, as well as a full analysis of the competitive landscape and significant competitors' product offers.
The qualitative and quantitative data in the Automotive Aftermarket market report can assist decision-makers in determining which market segments, regions, and variables driving the market are likely to develop at higher rates, as well as major opportunity areas. The research also highlights the competitive landscape of leading industry players as well as upcoming market trends.
PESTEL Analysis:
Maximize Market Research's report includes a PESTEL Analysis, which aids in the development of company strategies. Political variables can help you figure out how much a government can influence the Automotive Aftermarket market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Automotive Aftermarket market. Marketing analytics and tactics are aided by social elements. Understanding the impact of the surrounding environment and the influence of ecological concerns on the Automotive Aftermarket market is aided by legal factors.
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Segmentation:
Based on Distribution channel, the market is sub-segmented into Retailers and Wholesalers. In 2020, the retail segment dominated the market with a 57.2 % share. By 2027, the retail segment is expected to dominate the industry in terms of size, the wholesale and distribution category is expected to develop at a moderately fast rate in terms of revenue. Automotive aftermarket economies are critical components of the overall automotive manufacturing and maintenance scheme, as automotive components must be changed on a timely basis in order to preserve the vehicle's overall performance.
The market is being digitized as a result of the growing effect of technology innovation. The aftermarket is becoming more digital, and the market is shifting. Parts and services are available for purchase online. Original Equipment Manufacturers (OEMs), Original Equipment Suppliers (OESs), distributors, insurers, and workshops are all responding to the burgeoning online aftermarket trend. The increased use of advanced technologies in auto parts fabrication, the increase in consumer and passenger vehicle production, and the digitization of automotive repair and maintenance services are just a few of the drivers excepted to drive market expansion throughout the forecast period.
Based on Vehicle replacement part, the market is sub segmented into Tier, Battery, Brake parts, Filters and others. Tire sub-segment hold the largest market share of xx% in 2020. Although tire have a shorter replacement cycle than its component counterparts, it is projected to remain the leading segment. Various accessories, lubricants, tires, and other component replacement suppliers make up the aftermarket replacement part vendors. In addition, service enablers such as repairing services providers and entertainment service providers are part of the industry value chain. The automotive sector is seeing a surge in demand for hybrid electric vehicles, which will stifle demand for exhaust parts and specialist tools for these specialty vehicles. The rise in the price of gasoline and petrochemicals is to blame for this restriction.
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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.
The competitive landscape is a critical aspect every key player needs to be familiar with. The report throws light on the competitive scenario of the Automotive Aftermarket market to know the competition at both the domestic and levels. The key aspects such as areas of operation, production, and product portfolio. Additionally, companies in the report are studied based on key factors such as company size, market share, market growth, revenue, production volume, and profits.
In additional Automotive Aftermarket Market Share analysis of players, in-depth profiling, product/service and business overview, the study also concentrates on BCG matrix, heat map analysis, Competitive Benchmarking along with SWOT analysis to better correlate market competitiveness.
Regional Analysis:
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Automotive Aftermarket market in these countries, which covering North America, U.S., Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and Middle East and Africa.
COVID-19 Impact Analysis on Automotive Aftermarket Market:
COVID-19 has a thorough impact on the Automotive Aftermarket market in North America, Asia Pacific, the Middle East, Europe, and South America, according to the report. During this crisis, the report presents a comprehensive examination of alternatives, challenging conditions, and difficult situations in the Automotive Aftermarket market. The study briefly discusses the benefits as well as the challenges of the COVID-19 in terms of funding and market expansion. In addition, the study includes a collection of principles that are intended to assist readers in deciding and planning a corporate strategy.
Key Questions answered in the Automotive Aftermarket Market Report are:
- Which product segment grabbed the largest share in the Automotive Aftermarket market?
- How is the competitive scenario of the Automotive Aftermarket market?
- Which are the key factors aiding the Automotive Aftermarket market growth?
- Which region holds the maximum share in the Automotive Aftermarket market?
- What will be the CAGR of the Automotive Aftermarket market during the forecast period?
- Which application segment emerged as the leading segment in the Automotive Aftermarket market?
- Which are the prominent players in the Automotive Aftermarket market?
- What key trends are likely to emerge in the Automotive Aftermarket market in the coming years?
- What will be the Automotive Aftermarket market size by 2027?
- Which company held the largest share in the Automotive Aftermarket market?
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