Auto parts stores have endured ups and downs in recent years, similar to the rest of the auto sector. The outbreak of COVID-19 brought the economy to a screeching halt. Stay-at-home orders both prevented consumers from going into auto parts stores to make purchases and pushed transportation to the back of people's priority lists. The rapid recovery of the US economy boosted auto parts stores, as pent-up demand caused a surge in industry revenue. With the end of pandemic-related restrictions, Americans were now driving at high volumes again, raising the need for vehicle maintenance. Altogether, industry revenue has been growing at a CAGR of 2.0% to $81.1 billion, including an anticipated increase of 0.4% in 2023 alone.Decreasing speed limit: Following huge revenue gains, continued growth will be challenged by external competition
This industry comprises operators that sell new and used automotive parts and accessories, as well as repair automobiles and install automotive accessories.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
ABOUT THIS INDUSTRY- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
- Industry Data
- Annual Change
- Key Ratios
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- O'reilly Automotive, Inc.
- Autozone Inc.
- Advance Auto Parts, Inc.
- Genuine Parts Co
Methodology
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