PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1566074
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1566074
United States Auto Parts and Accessories Market, By Product; By Vehicle Type; By Sales Channel; By End User, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
United States Auto Parts and Accessories Market Size Expands at 5.6% CAGR to Cross USD 21.3 Billion by 2030
United States Auto Parts and Accessories Market is thriving due to increasing vehicle ownership, a spurring demand for vehicle customization, thriving e-commerce platforms, rising disposable income, and advancements in automotive technologies.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated United States Auto Parts and Accessories Market size by value at USD 15.18 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects United States Auto Parts and Accessories Market size to expand at a CAGR of 5.60% reaching a value of USD 21.3 billion by 2030. United States Auto Parts and Accessories Market is driven by several factors, including a growing number of vehicles in use, increased consumer interest in vehicle customization, and a rise in e-commerce platforms offering auto parts. The market is also supported by technological advancements in automotive components, rising demand for electric and hybrid vehicles, and stringent government regulations on vehicle maintenance and safety. Additionally, the growing trend of DIY vehicle repair and the increasing average age of vehicles boost demand for auto parts.
Opportunity - Deepening Penetration of Online Retail
Further penetration of e-commerce is a key growth driver in United States Auto Parts and Accessories Market. Consumers are increasingly opting for online platforms due to the convenience, variety, and competitive pricing they offer. E-commerce platforms like Amazon, eBay, and specialized auto parts websites are attracting a growing customer base. Moreover, enhanced delivery options and expanding product availability are further driving demand, making online retail a crucial distribution channel in the market.
Impact of Escalating Geopolitical Tensions on United States Auto Parts and Accessories Market
Escalating geopolitical tensions impact United States Auto Parts and Accessories Market by disrupting global supply chains, increasing manufacturing costs, and creating delays in the availability of critical components. Tariffs, trade restrictions, and sanctions can lead to higher prices for imported parts, while reliance on foreign raw materials may force companies to seek alternative suppliers. Additionally, uncertainty surrounding international relations can decrease consumer confidence, negatively affecting demand for new vehicles and aftermarket accessories in the United States Market.
Aftermarket Sales Channel Holds Larger Share of United States Market
The aftermarket segment accounts for a larger market share of United States Auto Parts and Accessories Market by sales channel, due to the growing preference among vehicle owners to customize and upgrade their vehicles after the initial purchase. The demand for replacement parts, performance parts, and maintenance parts within the aftermarket segment significantly contributes to its leading position. The trend reflects the increasing consumer interest in enhancing vehicle performance, aesthetics, and functionality. The other major sales channel segment in United States Auto Parts and Accessories Market is OEMs (Original Equipment Manufacturers).
Competitive Landscape
United States Auto Parts and Accessories Market is fiercely competitive, with numerous companies vying for a larger market share. Major companies in the market include Continental, Denso, Valeo, Aisin Corporation, BorgWarner, Inc., Robert Bosch GmbH, Lear Corporation, Magna International, ZF Friedrichshafen, and American Axle & Manufacturing Holdings Inc. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in United States Auto Parts and Accessories Market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of United States Auto Parts and Accessories Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in United States Auto Parts and Accessories Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the Market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. United States Auto Parts and Accessories Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Expanding automotive industry in United States
- 3.2.1.2. Rising vehicle ownership
- 3.2.1.3. Infrastructure development in United States
- 3.2.2. Restraints
- 3.2.2.1. Presence of counterfeit products
- 3.2.2.2. Lack of standardized regulations
- 3.2.3. Opportunities
- 3.2.3.1. Government's push for localization (increasing domestic production)
- 3.2.3.2. Growing online retail penetration
- 3.2.3.3. Increasing focus on Innovation
- 3.2.4. Challenges
- 3.2.4.1. Competition from both established international players and cheap imports.
- 3.2.4.2. Rising electric and hybrid vehicle requirement
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. United States Auto Parts and Accessories Market: Marketing Strategies
5. United States Auto Parts and Accessories Market: Pricing Analysis
6. United States Auto Parts and Accessories Market Overview
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Product
- 6.2.1.1. Engine Parts
- 6.2.1.2. Electrical Parts
- 6.2.1.3. Drive and Transmission Steering Parts
- 6.2.1.4. Suspension and Braking Parts Equipment
- 6.2.1.5. Others (including Interior and Exterior Accessories)
- 6.2.2. By Vehicle Type
- 6.2.2.1. Passenger Vehicles
- 6.2.2.2. Commercial Vehicles
- 6.2.2.3. Sports Utility Vehicles
- 6.2.2.4. Two Wheelers
- 6.2.3. By Sales Channel
- 6.2.3.1. OEMs (Original Equipment Manufacturers)
- 6.2.3.2. Aftermarket
- 6.2.4. By End User
- 6.2.4.1. Individual Consumers
- 6.2.4.2. Fleet Owners
- 6.2.4.3. Government Agencies
- 6.2.4.4. Transport Companies
- 6.2.1. By Product
7. Competitive Landscape
- 7.1. List of Key Players and Their Products
- 7.2. United States Auto Parts and Accessories Company Market Share Analysis, 2023
- 7.3. Competitive Benchmarking, By Operating Parameters
- 7.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
8. Impact of Escalating Geopolitical Tensions on United States Auto Parts and Accessories Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
- 9.1. Continental
- 9.2. Denso
- 9.3. Valeo
- 9.4. Aisin Corporation
- 9.5. BorgWarner, Inc.
- 9.6. Robert Bosch GmbH
- 9.7. Lear Corporation
- 9.8. Magna International
- 9.9. ZF Friedrichshafen
- 9.10. American Axle & Manufacturing Holdings Inc.
- 9.11. Other prominent players
10. Key Strategic Recommendations
11. Research Methodology
- 11.1. Qualitative Research
- 11.1.1. Primary & Secondary Research
- 11.2. Quantitative Research
- 11.3. Market Breakdown & Data Triangulation
- 11.3.1. Secondary Research
- 11.3.2. Primary Research
- 11.4. Breakdown of Primary Research Respondents
- 11.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
- Figure 1 United States Auto Parts and Accessories Segmentation
- Figure 2 United States Auto Parts and Accessories Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 United States Auto Parts and Accessories Market Size, By Value (USD Billion), 2019-2030
- Figure 5 United States Auto Parts and Accessories Market Share, By Product, By Value (USD Billion), 2019-2030
- Figure 6 United States Auto Parts and Accessories Market Share, By Delivery Type, By Value (USD Billion), 2019-2030
- Figure 7 United States Auto Parts and Accessories Market Share, By Vehicle Type, By Value (USD Billion), 2019-2030
- Figure 8 United States Auto Parts and Accessories Market Share, By Sales Channel, By Value (USD Billion), 2019-2030
- Figure 9 United States Auto Parts and Accessories Market Share, By End User, By Value (USD Billion), 2019-2030
List of Tables
- Table 1 United States Auto Parts and Accessories Market Size, By Value (USD Billion), 2019-2030
- Table 2 United States Auto Parts and Accessories Market Share, By Product, By Value (USD Billion), 2019-2030
- Table 3 United States Auto Parts and Accessories Market Share, By Delivery Type, By Value (USD Billion), 2019-2030
- Table 4 United States Auto Parts and Accessories Market Share, By Vehicle Type, By Value (USD Billion), 2019-2030
- Table 5 United States Auto Parts and Accessories Market Share, By Sales Channel, By Value (USD Billion), 2019-2030
- Table 6 United States Auto Parts and Accessories Market Share, By End User, By Value (USD Billion), 2019-2030
- Table 7 Continental Company Overview
- Table 8 Continental Financial Overview
- Table 9 Denso Company Overview
- Table 10 Denso Financial Overview
- Table 11 Valeo Company Overview
- Table 12 Valeo Financial Overview
- Table 13 Aisin Corporation Company Overview
- Table 14 Aisin Corporation Financial Overview
- Table 15 BorgWarner, Inc. Company Overview
- Table 16 BorgWarner, Inc. Financial Overview
- Table 17 Robert Bosch GmbH Company Overview
- Table 18 Robert Bosch GmbH Financial Overview
- Table 19 Lear Corporation Company Overview
- Table 20 Lear Corporation Financial Overview
- Table 21 Magna International Company Overview
- Table 22 Magna International Financial Overview
- Table 23 ZF Friedrichshafen Company Overview
- Table 24 ZF Friedrichshafen Financial Overview
- Table 25 American Axle & Manufacturing Holdings Inc. Company Overview
- Table 26 American Axle & Manufacturing Holdings Inc. Financial Overview
