The Automotive Aftermarket was valued at USD 468.91 billion in 2024, and is projected to reach USD 589.01 billion by 2030, rising at a CAGR of 3.80%. Digitalization of automotive repair & component sales complemented by advanced technology incorporations in the automobile aftermarket component manufacturing is expected to boost the market growth. The surging reception of semi-autonomous, electric vehicles, and hybrid & autonomous cars, in the years to come, is further expected to bolster the demand for new components.
Furthermore, the increasing vehicle penetration is driven by the overall improvement of lifestyle in developing countries, such as India and Brazil, and is expected to drive the growth of the automobile industry in the region. Similar surges in the automotive manufacturing sector across various regions along with the increasingly stringent emissions norms are expected to drive the growth of automotive aftermarket component sales over the forecast period. Third-party services and technology offer new and profitable revenue streams, to leverage all these opportunities.
In addition, the industry requires investment in product development, supply chain, organizational design, and pricing model to create a great surge in demand. The rise of digital channels or social media influence is also fueling the sale of the automotive aftermarket. These online channels provide customers with all the information regarding the price of the past, and the prior user experience, making the purchasing process smoother. To support the initiatives for leveraging market foothold, the manufacturers in developing countries are adopting various strategies, including mergers, acquisitions, and partnerships.
The Asia-Pacific regional market is expected to be the fastest growing market for aftermarket over the forecast period, owing to its developing living standards and high vehicle production. It is also anticipated to be the fastest-growing market in automobile production. With the growing penetration and acceptance of gas and hybrid electric cars, specialized repair centers dedicated to the repair of particular vehicles are expected to increase. The global aftermarket is expected to witness tremendous growth due to an upsurge in the number of vehicle collisions along with the inclination of owners toward the repair of their automobiles.
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Furthermore, the increasing vehicle penetration is driven by the overall improvement of lifestyle in developing countries, such as India and Brazil, and is expected to drive the growth of the automobile industry in the region. Similar surges in the automotive manufacturing sector across various regions along with the increasingly stringent emissions norms are expected to drive the growth of automotive aftermarket component sales over the forecast period. Third-party services and technology offer new and profitable revenue streams, to leverage all these opportunities.
In addition, the industry requires investment in product development, supply chain, organizational design, and pricing model to create a great surge in demand. The rise of digital channels or social media influence is also fueling the sale of the automotive aftermarket. These online channels provide customers with all the information regarding the price of the past, and the prior user experience, making the purchasing process smoother. To support the initiatives for leveraging market foothold, the manufacturers in developing countries are adopting various strategies, including mergers, acquisitions, and partnerships.
The Asia-Pacific regional market is expected to be the fastest growing market for aftermarket over the forecast period, owing to its developing living standards and high vehicle production. It is also anticipated to be the fastest-growing market in automobile production. With the growing penetration and acceptance of gas and hybrid electric cars, specialized repair centers dedicated to the repair of particular vehicles are expected to increase. The global aftermarket is expected to witness tremendous growth due to an upsurge in the number of vehicle collisions along with the inclination of owners toward the repair of their automobiles.
Automotive Aftermarket Industry Report Highlights
- In terms of market size, the other segment dominated the market with a share of 47.33% in 2024.
- In terms of market size, the retail segment dominated the market with a share of 54.8% in 2024. The retail segment is anticipated to dominate the market arena in terms of size by 2030.
- In terms of market size, the original equipment segment dominated the market with a share of 69.2% in 2024. The OE segment is anticipated to dominate the aftermarket arena in terms of size by 2030.
- In terms of market size, the genuine parts segment dominated the market with a share of 51.4% in 2024. The genuine segment is anticipated to dominate the aftermarket arena in terms of size by 2030.
This report addresses:
- Market intelligence to enable effective decision-making.
- Market estimates and forecasts from 2018 to 2030.
- Growth opportunities and trend analyses.
- Segment and regional revenue forecasts for market assessment.
- Competition strategy and market share analysis.
- Product innovation listings for you to stay ahead of the curve.
- COVID-19's impact and how to sustain in this fast-evolving market.
Why Should You Buy This Report?
- Comprehensive Market Analysis: Gain detailed insights into the market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Automotive Aftermarket Market Variables, Trends, & Scope
Chapter 4. Automotive Aftermarket Market: Type Estimates & Trend Analysis
Chapter 5. Automotive Aftermarket Market: Distribution Channel Estimates & Trend Analysis
Chapter 6. Automotive Aftermarket Market: Service Channel Estimates & Trend Analysis
Chapter 7. Automotive Aftermarket Market: Certification Estimates & Trend Analysis
Chapter 8. Automotive Aftermarket Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
The major companies profiled in this Automotive Aftermarket report include:- 3M Company
- Continental AG
- Cooper Tire & Rubber Company
- Delphi Automotive PLC
- Denso Corporation
- Federal-Mogul Corporation
- HELLA KGaA Hueck & Co.
- Robert Bosch GmbH
- Valeo Group
- ZF Friedrichshafen AG
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 109 |
| Published | February 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 468.91 Billion |
| Forecasted Market Value ( USD | $ 589.01 Billion |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
