Dublin, June 05, 2024 (GLOBE NEWSWIRE) -- The "Automotive Aftermarket Industry Size, Share & Trends Analysis Report By Replacement Part (Tire, Battery), By Distribution Channel, By Service Channel, By Certification, By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global automotive aftermarket industry is expected to reach USD 589.01 billion by 2030. The market is anticipated to expand at a CAGR of 3.9% from 2024 to 2030. 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.
Automotive Aftermarket Industry Highlights
- The automotive aftermarket is estimated to grow significantly over the forecast period, owing to an increase in the number of lightweight vehicles coupled with the increasing age of the light vehicle fleet
- In terms of market size, the tire segment accounted for the largest share of 22.5% in 2023.
- In terms of market size, the retail segment dominated the market with a share of 55.5% in 2023 and is expected to remain dominant throughout the forecast years.
- In terms of market size, the original equipment segment dominated the market with a share of 70.5% in 2023. 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 51.6% in 2023. The genuine parts segment is anticipated to dominate the aftermarket arena, in terms of size, by 2030.
- The Asia-Pacific automotive aftermarket dominated the market with a share of 28.8% in 2023. The regional market is expected to have significant growth from 2024 to 2030.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 109 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $448.24 Billion |
| Forecasted Market Value (USD) by 2030 | $589.01 Billion |
| Compound Annual Growth Rate | 3.9% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Automotive Aftermarket Industry: Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2. Automotive Aftermarket Industry: Executive Summary
2.1 Automotive Aftermarket - Market Snapshot & Key Buying Criteria, 2017 - 2030
Chapter 3. Automotive Aftermarket Industry: Variables, Trends & Scope
3.1 Market Segmentation & Scope
3.2 Automotive Aftermarket Size and Growth Prospects
3.3 Automotive Aftermarket - Value Chain Analysis
3.3.1 Automotive Aftermarket - Supply Chain Analysis
3.4 Market Dynamics
3.4.1 Market Driver Analysis
3.4.1.1 Advanced Technology Usage in Auto Parts Fabrication
3.4.1.2 Surge in Consumer and Passenger Automobile Production
3.4.1.3 Digitalization of Automotive Repair & Maintenance Services
3.4.1.4 Increasing Stringency of Emission & Fuel Efficiency Regulations and Engine Downsizing
3.4.2 Market Restraint Analysis
3.4.2.1 Counterfeiting of Auto Components
3.4.2.2 Growing Demand for Electric Vehicles
3.5 Penetration & Growth Prospect Mapping
3.6 Industry Analysis - Porter's
3.7 Global Automotive Aftermarket - Key Company Analysis,
3.7.1 Key Company Analysis
3.8 Automotive Aftermarket - PESTEL Analysis
3.9 Distribution Channel Analysis
Chapter 4. Automotive Aftermarket: Replacement Part Estimates and Trend Analysis
4.1 Automotive Aftermarket: Replacement Part Movement Analysis
4.1.1 Tire
4.1.2 Battery
4.1.3 Brake Parts
4.1.4 Filters
4.1.5 Body Parts
4.1.6 Lighting & Electronic Components
4.1.7 Wheels
4.1.8 Exhaust Components
4.1.9 Turbochargers
4.1.10 Others
Chapter 5. Automotive Aftermarket: Distribution Channel Estimates and Trend Analysis
5.1 Automotive Aftermarket: Distribution Channel Movement Analysis
5.1.1 Retailers
5.1.2 Wholesale & Distribution (W&D)
Chapter 6. Automotive Aftermarket: Service Channel Estimates and Trend Analysis
6.1 Automotive Aftermarket: Service Channel Movement Analysis
6.1.1 Do It Yourself (DIY)
6.1.2 Do It For Me (DIFM)
6.1.3 Original Equipment (OE)
Chapter 7. Automotive Aftermarket: Certification Estimates and Trend Analysis
7.1 Automotive Aftermarket: Certification Movement Analysis
7.1.1 Genuine Parts
7.1.2 Certified Parts
7.1.3 Uncertified Parts
7.2 Automotive Counterfeit Market
7.2.1. Market estimates and forecasts, 2017-2030 (USD Billion)
Chapter 8. Automotive Aftermarket: Regional Estimates & Trend Analysis
8.1 Automotive Aftermarket Share by Region, 2023 & 2030
8.2 North America
8.3 Europe
8.4 Asia Pacific
8.5 South America
8.6 Middle East & Africa
Chapter 9. Competitive Landscape
9.1 Company Profiles
9.1.1 3M
9.1.2 Continental AG
9.1.3 COOPER TIRE & RUBBER COMPANY
9.1.4 Delphi Automotive PLC
9.1.5 Denso Corporation
9.1.6 Federal-Mogul Corporation
9.1.7 Magneti Marelli S.p.A.
9.1.8 Robert Bosch GmbH
9.1.9 The Goodyear Tire & Rubber Company
9.1.10 ZF Friedrichshafen AG (ZF TRW)
For more information about this report visit https://www.researchandmarkets.com/r/az20zi
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