Automotive Aftermarket Market Size – USD 376.40 Billion in 2019, Market Growth – CAGR of 4.2%, Market Trends – High demand in the automotive sector.
The Automotive Aftermarket market growth is expected to increase through the digitalization of automobile repair and parts manufacturing, along with advanced technological incorporations of the production of automotive aftermarket components. The growing acceptance of semi-autonomous, electric, and hybrid and independent vehicles is expected to further fuel the growth of the industry.
The Global Automotive Aftermarket Market Report, published by Emergen Research, comes with an exhaustive analysis of the major segments of the global Automotive Aftermarket market and estimates the overall market growth over the forecast timeline of 2020-2027. The latest research report can be viewed as a valuable source of viable data and information pertaining to this particular business vertical. It provides a complete overview of the Automotive Aftermarket industry, considering the future growth analysis, demand, and supply graphs, as well as historical and future costs and revenue generation.
Substantial investments are anticipated from key players in digitizing product supply sales and services, along with online platforms selling aftermarket products in synchronous with global car suppliers. The online aftermarket sector is expected to enjoy strong growth in developing countries, thanks to the above-listed trade gateways. In addition, the increase in automotive product online sales is expected to fuel more increase in the market.
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Growing demand for digitization of aftermarket services in automobiles is driving the demand for the market.
Automotive Aftermarket Market Highlights
The Automotive Aftermarket report deeply inspects factors like revenue accumulation, cost, capacity utilization rate, production capacity, production rate, consumption rate, import/export, supply/demand, gross, market share, CAGR, and gross margin. It further presents an all-inclusive study of the market growth factors and their latest trends.
Further key findings from the report suggest
The emphasis is strongly on digital methods for the full supply chain processes by the automakers, product suppliers and distributors, and original equipment manufacturers (OEMs).
The digitization of the networks and services would also allow customers to deepen their research and inform about the quality, location, and availability of services in the workshop before buying or repairing their vehicle.
Due to the growing number of weight vehicles and the rising age of the light vehicle fleet, the aftermarket must expand dramatically over the forecast period.
Manufacturers' innovative business models and strategies are anticipated to provide sustained market growth opportunities and rising investment in them.
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Competitive Landscape of the Global Automotive Aftermarket Market:
The global Automotive Aftermarket market conducts a precise examination of the functioning mechanisms of the leading industry participants in the global market. It has been observed that these industry players deploy a wide array of business growth strategies, which enable them to account for significant shares of the global market.
The automotive aftermarket is expected to undergo a phase change due to the growing proportion of specialist car collision repair centers dedicated to servicing different vehicles, such as alternative fuel-powered vehicles.
Key players in the market include Bridgestone Corporation, Hella KGaA Hueck & Co., Denso Corporation, Continental, ACDelco, Delphi Automotive, Fauraecia, BASF, Robert Bosch, and 3M Company, among others.
Our analysts have performed an accurate examination of the various aspects of the global market leveraging avant-garde primary and secondary sources of data collection, along with other analytical tools like SWOT Analysis and Porter’s Five Forces Analysis. The Automotive Aftermarket report has gathered the necessary data and information from several reliable sources. Additionally, the report offers many strategic recommendations for companies involved in this ever-growing business sector to help them attain a competitive edge in the global Automotive Aftermarket market.
North America has a higher acceptance rate of technology, which is expected to result in faster and higher penetration of hybrid electric cars in the area relative to other geographies.
North America (U.S., Canada)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Europe (U.K., Italy, Germany, France, Rest of EU)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
This section of the report lays profound emphasis on the fundamental strategic initiatives, such as new business deals, collaborations, joint ventures, mergers & acquisitions, and technological upgradation, taken by these companies in a bid to reach a valuable market position. The Automotive Aftermarket report is a paradigmatic work of the global Automotive Aftermarket market assessment and provides information on the key market growth trends and opportunities. Such aspects of the report further enable the readers to formulate effective business expansion strategies.
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The Automotive Aftermarket market intelligence report talks about the market size, share, value, and production cost analysis over the forecast period 2020-2027.
Replacement Part Outlook (Revenue: USD Billion; 2017-2027)
Lighting & Electronic Components
Certification Outlook (Revenue: USD Billion; 2017-2027)
Service Channel Outlook (Revenue: USD Billion; 2017-2027)
Distribution Channel Outlook (Revenue: USD Billion; 2017-2027)
Wholesalers & Distributors
The report aims to answer the most common queries related to the global Automotive Aftermarket market:
What is the scope of innovation in the current market landscape?
What are the current trends dictating global market growth?
What is the projected value of the market in 2027?
Which regional market is expected to witness the highest CAGR during the forecast period?
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Source: EIN Presswire