Dublin, Sept. 06, 2024 (GLOBE NEWSWIRE) -- The "U.S. Automotive Aftermarket: Insights & Forecast (2024-2028)" report has been added to ResearchAndMarkets.com's offering.
The U.S. automotive aftermarket is expected to record a value of US$494.01 billion in 2028, growing at a CAGR of 3.08%, for the duration spanning 2024-2028.
The factors such as growth in automotive production, upsurge in used car sales, rising number of smartphone users, acceleration in electric vehicle sales and rapid urbanization would drive the growth of the market. However, the market growth would be challenged by expansion of ride-sharing services and rise in aftermarket fraudulent. A few notable trends may include growth in average age of vehicles, expansion of automotive dealer on online platforms and launch of new & advanced car accessories.
The automotive aftermarket in the U.S. is growing enormously, due to the presence of well-established automotive industry. The aftermarket in the automotive industry is comprised of the auto services and parts businesses. Favourable government policies, regulations, and subsidies in the U.S. are driving the demand for electric vehicles, leading to the increasing use of lightweight auto parts in the EV production to increase efficiency, which is likely to support the growth of the U.S. automotive aftermarket in coming years.
Key players operating in the automotive aftermarket in the U.S. include 3M Company, Lear Corporation, AutoZone, O'Reilly Auto Parts, Advance Auto Parts and Cooper Tire & Rubber Company. High competition in the market has encouraged key players to gain a competitive edge by focusing on offering high-quality products.
With the increasing price competitiveness in the U.S. market, various companies are challenged to provide innovative offerings to help consumers address the changing technologies at an economical price, which is eventually aiding the market growth.
Scope of the report
- The report provides a comprehensive analysis of the U.S. automotive aftermarket.
- The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
- The company profiles of leading players (3M Company, Lear Corporation, AutoZone, O'Reilly Auto Parts, Advance Auto Parts and Cooper Tire & Rubber Company) are also presented in detail.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 69 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $437.56 Billion |
| Forecasted Market Value (USD) by 2028 | $494.01 Billion |
| Compound Annual Growth Rate | 3.0% |
| Regions Covered | United States |
Key Topics Covered:
1. Overview
1.1 Introduction
1.2 Value Chain of OEM/OES in Aftermarket
1.3 Top Ten Trends in Automotive Aftermarket
1.4 The Future Development Direction of the Automobile Industry
1.5 Automotive Aftermarket Distribution Channels
2. Impact of COVID-19
2.1 Decline in Motor Vehicle Sales
2.2 Downfall in Consumer Spending
2.3 Impact on Automotive Dealership
3. The U.S. Market Analysis
3.1 The U.S. Automotive Aftermarket by Value
3.2 The U.S. Automotive Aftermarket Forecast by Value
3.3 The U.S. Specialty Auto Equipment Market by Value
3.4 The U.S. Specialty Auto Equipment Market Forecast by Value
3.5 The U.S. Specialty Auto Equipment Market by Product Type
3.6 The U.S. Auto Parts Export by Value
3.7 The U.S. Auto Parts Export Forecast by Value
3.8 The U.S. Auto Parts Import by Value
3.9 The U.S. Auto Parts Import Forecast by Value
3.10 The U.S. Auto Parts Import by Regions
4. Market Dynamics
4.1 Growth Drivers
4.1.1 Growth in Automotive Production
4.1.2 Upsurge in Used Car Sales
4.1.3 Rising Number of Smartphone Users
4.1.4 Acceleration in Electric Vehicle Sales
4.1.5 Rapid Urbanization
4.2 Key Trends and Developments
4.2.1 Growth in Average Age of Vehicle
4.2.2 Expansion of Automotive Dealers on Online Platforms
4.2.3 Launch of New and Advanced Car Accessories
4.3 Challenges
4.3.1 Expansion of Ride-sharing Services
4.3.2 Rise in Fraudulent Products
5. Company Profiles
- 3M Company
- Lear Corporation
- AutoZone
- O'Reilly Auto Parts
- Advance Auto Parts
- Cooper Tire & Rubber Company
For more information about this report visit https://www.researchandmarkets.com/r/z7yb28
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