Dublin, Sept. 02, 2021 (GLOBE NEWSWIRE) -- The "Global Automotive Aftermarket Market (2021-2026) by Replacement Parts, Distribution Channel, Service Channel, Certification, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Aftermarket Market is estimated to be USD 240.5 Bn in 2021 and is expected to reach USD 343.67 Bn by 2026, growing at a CAGR of 7.4%.
Market Dynamics
The leading factor that is expected to drive the global automotive aftermarket market is the escalating inclination by consumers to change OEM parts to enhance the execution of various vehicle systems & elements such as audio system engines and power delivery.
Automotive components & systems need to be changed after some months or years. The automotive industry consists of tires, windshields, oils, and braking components. These are the foremost and common alternate components. Most of these products are accessible in the automotive aftermarket.
The ownership of new vehicles has been lifted by rising in the per capita income of the populace globally. Hence, it makes substantial opportunities for automotive aftermarket industry players to accommodate the rising number of automotive consumers.
Automotive makers face several limitations while carrying out their industrial processes. Manufacture cost is one of these constrictions. And the concerns about R&D expenses are likely to hinder the market growth over the forecast period.
Market Segmentation
- By Replacement Parts, the market is classified as tire, battery, brake parts, filters, body parts, lighting & electronic components, wheels, exhaust components, turbochargers, and others. Amongst all, the battery segment is estimated to hold the highest market share during the forecast period.
- By Distribution Channel, the market is classified as wholesalers & distributors, and retailers. Amongst the two, the wholesalers & distributors segment is estimated to hold the highest market share during the forecast period.
- By Service Channel, the market is classified as DIY (do it yourself), DIFM (do it for me), and OE (delegating to OEMs). Amongst all, the DIFM (do it for me) segment is estimated to hold the highest market share during the forecast period.
- By Certification, the market is classified as genuine parts, certified parts, and uncertified parts. Amongst all, the certified parts segment is estimated to hold the highest market share during the forecast period.
- By Geography, North America is projected to lead the market.
Recent Developments
- Carparts.Com Launches First Ev, Hybrid-Focused Shopping Hub. - 29th Jan 2021.
- American Axle & Manufacturing And REE Automotive To Jointly Develop New Electric Propulsion System For e-Mobility. - 9th May 2021.
Company Profiles
Some of the companies covered in this report are
- Johnson Controls Inc
- Kumho Tires Co. Inc
- Pirelli & C. S.p.A.
- Prestone Products Corporation
- Robert Bosch GmbH
- Tenneco Inc.
- Valeo Group
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Influencers
4.1 Drivers
4.1.1 Growing Sales of Used-Vehicles Raises Repair and Maintenance
4.1.2 Availability of Automotive Accessories Through Online Platforms
4.2 Restraints
4.2.1 High Capital Required for Research and Development
4.3 Opportunities
4.3.1 Advancements in Technology
4.3.2 Rising Demand for Aftermarket Products from Pre-Owners of Cars
4.4 Challenges
4.4.1 Demand for Electric Vehicles & Increasing Production of Passenger Vehicles
4.5 Trends
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis
6 Global Automotive Aftermarket Market, By Replacement Parts
6.1 Introduction
6.2 Tire
6.3 Battery
6.4 Brake Parts
6.5 Filters
6.6 Body Parts
6.7 Lighting & Electronic Components
6.8 Wheels
6.9 Exhaust Components
6.10 Turbochargers
6.11 Others
7 Global Automotive Aftermarket Market, By Distribution Channel
7.1 Introduction
7.2 Wholesalers & Distributors
7.3 Retailers
7.3.1 OEMs
7.3.2 Repair Shops
8 Global Automotive Aftermarket Market, By Service Channel
8.1 Introduction
8.2 DIY (Do It Yourself)
8.3 DIFM (Do It For Me)
8.4 OE (Delegating To OEMs)
9 Global Automotive Aftermarket Market, By Certification
9.1 Introduction
9.2 Genuine Parts
9.3 Certified Parts
9.4 Uncertified Parts
10 Global Automotive Aftermarket Market, By Geography
10.1 Introduction
11 Competitive Landscape
11.1 Competitive Quadrant
11.2 Market Share Analysis
11.3 Strategic Initiatives
11.3.1 M&A and Investments
11.3.2 Partnerships and Collaborations
11.3.3 Product Developments and Improvements
12 Company Profiles
- 3M Company
- ACDelco
- Akebono Brake Corporation
- American Axle & Manufacturing Inc.
- ASIMCO Technologies Limited
- Bridgestone Corporation
- CarParts.com
- Compagnie Generale des Etablissements Michelin
- Continental AG
- Cooper Tire & Rubber Company
- Delphi Automotive PLC
- Denso Corporation
- Federal-Mogul Corporation
- Gates Corporation
- Goodyear Tire & Rubber Company
- Grupo Kuo S.A.B. de C.V.
- HELLA KGaA Hueck & Co.
- Hyundai Mobis Co. Ltd.
- Johnson Controls Inc.
- Kumho Tires Co. Inc.
- Pirelli & C. S.p. A.
- Prestone Products Corporation
- Robert Bosch GmbH
- Tenneco Inc.
- Valeo Group
- ZF Friedrichshafen AG
For more information about this report visit https://www.researchandmarkets.com/r/ej2jhd
