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Automotive After Market

Automotive After Market

Automotive After Market Global Industry Assessment & Forecast

# Pages:

142

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0570

Segments Covered
  • By Replacement Parts Tire, Battery, Brake Parts, Filters, Body Parts, Lighting & Electronic Components, Wheels, Exhaust Components, Turbochargers, Others
  • By Certification Genuine Parts, Certified Parts, Uncertified Parts
  • By Distribution Channel Retail, Wholesalers & Distributors
Snapshot
Forecast YearsForecast Years: 2021 - 2028
Historical YearsHistorical Years: 2016 - 2020
Revenue 2021Revenue 2021: 381.28 Billion
Revenue 2028Revenue 2028: 532.45 Billion
Revenue CAGRRevenue CAGR (2021 - 2028): 4.20%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Research Methodology: Automotive After Market - Global Market Assessment, 2021 - 2028

Automotive After Market study involves the combination of secondary and primary research for data collection and utilizes a robust and veracious methodology to attain results on quantitative and qualitative analysis for specific market research studies. Moreover, Vantage Market Research utilizes tried and tested approaches to arrive at market-related projections. The research methodology is based on the 3-dimensional model consisting of 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. After the exhaustive secondary research, the procured information is revalidated through primary research. 

Secondary Research

Primary Research:

The primary research was conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills data requirements pertaining to first-hand information on global market size, regional and segmental trends, competitive landscape expertise development, and market understandings among others. 

Data Triangulation and Market Size Estimations

Top-down and bottom-up approaches are used to validate and estimate the market size of the Automotive After market. After the determination of the overall market size, the market is divided into various segments and sub-segments. Moreover, these same approaches mentioned above were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. The data was triangulated by employing various data models and statistical techniques to arrive at exact statics and market size for each segment/sub-segment of the market.  Moreover, region-wise product mapping analysis was used to gain some more insights on the competitive trend in the global Automotive After market.

FAQ
Frequently Asked Question
  • The global Automotive After valued at 381.28 Billion in 2020 and is expected to reach 532.45 Billion in 2028 growing at a CAGR of 4.20%%.

  • The prominent players in the market are Denso Corporation, The Michelin Group, Magneti Marelli S.p.A., Hyundai Mobis, Bridgestone Corporation, Aisin Seiki Co. Ltd., Robert Bosch GmbH, Continental AG, 3M, Goodyear Tire & Rubber Company, ZF Friedrichshafen AG..

  • The market is project to grow at a CAGR of 4.20%% between 2021 and 2028.

  • The driving factors of the Automotive After include

    • The increasing digitization of component delivery sales and services coupled with the arrival of online portal distributing aftermarket components is expected to augment the growth of the automotive aftermarket during the forecast period. This is due to the global auto-part supplier groups that are likely to draw huge investments from the key participants. Additionally, the presence of leading market component suppliers, such as US Auto Parts Network, Inc. and CarParts.com, is also expected to increase the demand of the market in the years to come. Furthermore, growing online sales of automotive components are projected to fuel growth of the market.
    • The increasing demand for replacement parts is anticipated to augment the growth of the automotive aftermarket in the years to come. The replacement parts dominated the industry with around 74.3% of the automotive aftermarket revenue share in 2020. This is due to the extreme strain by poor road conditions and low life cycle of the parts. The vehicles’ early aging will provide a positive outlook for aftermarket components. Along with that, factors such as low production cost, rising number of manufacturers, and increasing number of accidents, are likely to support the growth of the market.

  • Asia Pacific was the leading regional segment of the Automotive After in 2020.