The Business Research Company’s Passenger Cars After Market Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON, UK, April 14, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
The passenger car aftermarket is using 3D printing technology also called as Additive Manufacturing (AM) to make high-quality off-the-shelf car parts using 3D printers that are capable of printing in metals and alloys. 3D printing works by making a virtual 2D object in the software and constructing the 3D framework by using the printer. The use of 3D printing in producing automobile parts increases the efficiency and raises the production standards of the companies. Companies (original equipment manufacturers) such as General Motors, BMW, Ford and Porsche have already started investing in this trend.
The passenger cars aftermarket industry is regulated by several regulations governed by multiple international and country-specific agencies. One of the examples of such regulatory body is National Highway Traffic Safety Administration (NHTSA) of U.S. The Standard number 108 of section 571 under Title -49 "Transportation" mentioned in Code of Federal Regulations (CFR), states the requirements for original and replacement lamps, reflective devices, and associated lighting equipment for passenger cars as well as other multipurpose passenger vehicles. As defined in CFR, the purpose of section 571 is to set regulatory standards relating to lighting equipment in vehicles to be followed by motor vehicles including passenger cars. The standards also specify points where the equipment such as Headlamp should be mounted in vehicles so as to make it easily visible in public roads both in daylight and in darkness or other conditions of reduced visibility thus reducing traffic accidents and deaths and injuries.
The passenger cars aftermarket covered in this report is segmented by type into tires, battery, brake parts, filters, body parts, lighting, wheels, exhaust components, turbochargers, others. The passenger car aftermarket is also segmented by distribution channel into retailers (OEMs, repair shops), wholesalers & distributors and by certifications into genuine parts, certified parts, uncertified parts.
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The global passenger cars after market is expected to grow from $230.17 billion in 2020 to $247.49 billion in 2021 at a compound annual growth rate (CAGR) of 7.5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The passenger cars aftermarket market size is expected to reach $289.37 billion in 2025 at a CAGR of 4%. The countries with passenger cars aftermarket market shares are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Major players in the passenger cars market are Denso Corporation, Robert Bosch Gmbh, Continental AG, 3M company and Delphi Automotive PLC.
Passenger Cars After Market Global Market Report 2021: COVID-19 Growth And Change To 2030 is one of a series of new reports from The Business Research Company that provides passenger cars after market overview, forecast passenger cars after market size and growth for the whole market, passenger cars after market segments, and geographies, passenger cars after market trends, passenger cars after market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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