Dublin, Nov. 03, 2022 (GLOBE NEWSWIRE) -- The "Motor Vehicle And Parts Dealers Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global motor vehicle and parts dealers market is expected to grow from $4,133.97 billion in 2021 to $4,608.47 billion in 2022 at a compound annual growth rate (CAGR) of 11.5%. The market is expected to grow to $6,775.75 billion in 2026 at a compound annual growth rate (CAGR) of 10.1%.
The motor vehicle and parts dealers' market consists of sales of motor vehicles and parts and related services by entities (organizations, sole traders, and partnerships) that sell automobiles, other motor vehicles, automotive parts, accessories, and tires to ultimate users. The companies in the industry typically operate from showrooms where vehicles and related parts are displayed.
The major types of motor vehicle and parts dealers are auto parts and accessories, automobile dealers, and other motor vehicle dealers. A retail establishment that sells, rents, or leases new or used automobiles is referred to as an automobile dealership. The ownership types are retail chain and independent retailer managed through exclusive retailers/showroom and inclusive retailers/dealer store.
Asia Pacific was the largest region in the motor vehicle and parts dealers market in 2021. North America was the second-largest region in the motor vehicle and parts dealers market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The motor vehicle and parts dealers are adopting a robust and cohesive strategy for data analytics in management. This technology is being deployed to enhance supply chain efficiency, streamline operations to engage customers, and build loyalty, data has become critical for most retail operations.
With the rapid growth in retail data and the availability of technologies to analyze data, it will become easier for motor vehicle and parts dealers to identify and meet the needs and expectations of their customers, thus it is expected to drive the market going forward.
Motor vehicle dealers are increasingly offering unique experiences and features to meet customer expectations. Experiential retail refers to a store that offers consumers a chance to buy an experience rather than just an object or service. This trend is driven largely by millennials and their preference for experiences over things. These stores often use technology such as augmented reality and combine traditional elements with mobile apps and activities.
For instance, car brand Audi has integrated a virtual reality (VR) experience in their showrooms to attract potential customers. The company designed the VR experience to present its vehicles to potential customers in a more personalized and engaging manner while solving the issue of smaller dealerships being unable to stock more than five cars.
Major companies in the motor vehicles and part dealers market include
- Penske Automotive Group Inc.
- AutoNation Inc.
- CarMax Inc.
- AutoZone Inc.
- Lithia Motors Inc.
- O'Reilly Automotive Inc
- Group 1 Automotive Inc.
- Jardine Cycle & Carriage Limited
- Advance Auto Parts Inc.
- Sonic Automotive Inc.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Motor Vehicle And Parts Dealers Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Motor Vehicle And Parts Dealers Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Motor Vehicle And Parts Dealers Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Motor Vehicle And Parts Dealers Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Motor Vehicle And Parts Dealers Market Trends And Strategies
8. Impact Of COVID-19 On Motor Vehicle And Parts Dealers
9. Motor Vehicle And Parts Dealers Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Motor Vehicle And Parts Dealers Market Regional Analysis
10.1. Global Motor Vehicle And Parts Dealers Market, 2021, By Region, Value ($ Billion)
10.2. Global Motor Vehicle And Parts Dealers Market, 2016-2021, 2021-2026F, 2031F, Historic And Forecast, By Region
10.3. Global Motor Vehicle And Parts Dealers Market, Growth And Market Share Comparison, By Region
11. Motor Vehicle And Parts Dealers Market Segmentation
11.1. Global Motor Vehicle And Parts Dealers Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Auto Parts And Accessories
- Automobile Dealers
- Other Motor Vehicle Dealers
11.2. Global Motor Vehicle And Parts Dealers Market, Segmentation By Ownership, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Retail Chain
- Independent Retailer
11.3. Global Motor Vehicle And Parts Dealers Market, Segmentation By Type of Store, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Exclusive Retailers/Showroom
- Inclusive Retailers/Dealer Store
12. Motor Vehicle And Parts Dealers Market Metrics
12.1. Motor Vehicle And Parts Dealers Market Size, Percentage Of GDP, 2016-2026, Global
12.2. Per Capita Average Motor Vehicle And Parts Dealers Market Expenditure, 2016-2026, Global
For more information about this report visit https://www.researchandmarkets.com/r/v344u8
