The Automotive Parts Aftermarket was valued at US$ 548 Billion in 2022. It is projected to grow at a CAGR of 5.5% from 2023 to 2033, reaching a market value of US$ 984 Billion by the end of the forecast period.
Demand for automotive parts in the aftermarket is being aided by increased maintenance and repair activities carried out by vehicle owners because stock vehicle parts suffer wear and tear over a period of time. Air filters, fuel filters, and spark plugs, as well as brake pads, are more likely to be replaced at regular intervals.
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FACTS AT A GLANCE
Companies: Robert Bosch GmbH, ZF Friedrichshafen AG, Hella KGaA Hueck & Co., NGK Spark Plug, Exide Technologies, Gabriel India Limited, Hitachi Astemo, Ltd., KYB Corporation, Tenneco, Inc., Denso Corporation, Magna International, Continental AG, Valeo SA, Bridgestone, Michelin, Goodyear, Pirelli, Mahle GmbH, BorgWarner, OSRAM Licht AG, Knorr-Bremse, and Aisin Corporation.
Coverage: All major geographies and key segments
Segments: Automotive Parts Aftermarket Segmented By Engine & Transmission Parts, Brake Parts, Electrical Parts, Fuel Intake & Ignition Parts, A/C Parts, Suspension Parts, Exhaust Parts, Engine Cooling Parts, Steering Parts, Wheels, Tires Product
Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
ABSTRACT-
Persistence Market Research recently published a new report on the automotive parts aftermarket. The report provides detailed valuation on the key market dynamics such as drivers, trends, opportunities, and restraints, along with detailed information about the market structure. This market research report presents exclusive facts and figures about how the automotive parts aftermarket will grow over the forecast period.
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Key indicators of market background, such as value chain analysis and supply chain, compounded annual growth rate (CAGR), and year-on-year (Y-o-Y) growth of the market are explained in Persistence Market Research’s study in a comprehensive manner. This information can help readers understand the quantitative development projections of the automotive parts aftermarket over the forecast period.
The study is relevant for stakeholders as well as manufacturers, distributors, suppliers, and investors, as it can help them understand applicable strategies to grow in the market. Stakeholders, investors, industry experts, researchers, and journalists, as well as business researchers in the automotive parts aftermarket can leverage the information and statistics presented in this research report.
The report includes facts & figures related to the micro as well as macroeconomic factors that are impacting the growth of the market. The study also offers actionable insights based on the future trends in the market. Furthermore, regional players and new entrants in the automotive parts aftermarket can also use the information presented in this report to make business decisions and gain momentum in the market.
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