Aftermarket Automotive Parts Market, By Product Type, By Vehicle Type, By Sales Channel, By Geography

Description

Global aftermarket automotive parts market is estimated to be valued at USD 474.12 Bn in 2024 and is expected to reach USD 704.63 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 474.12 Bn
Historical Data for:	2019 to 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	5.80%	2031 Value Projection:	US$ 704.63 Bn

Figure. Aftermarket Automotive Parts Market Share (%), By Region, 2024

Aftermarket Automotive Parts Market - IMG1

High mileage driven by consumers and aging vehicle fleet boosts demand for replacement of old and damaged parts. Growing number of on-road vehicles around the world due to rising incomes and vehicle ownership has boosted the need for spare parts. Furthermore, longer average lifespan of vehicles can also expand the replacement market. However, original equipment manufacturers (OEMs) capturing a substantial share of the independent aftermarket through their dealer channels can pose challenges for aftermarket parts distributors and retailers. Rise of e-commerce, expanding distribution networks into rural markets and surging vehicle population worldwide can offer future growth opportunities.

Market Dynamics:

Global aftermarket automotive parts market growth is driven by factors such as growing vehicle fleet, higher average age of vehicles, expansion of organized retail, and availability of low-cost generic parts. However, intense competition from vehicle OEMs through their extensive dealer networks can hamper the market growth. Proliferation of e-commerce platforms can also open new sales channels for independent distributors, thus, creating opportunities for aftermarket parts companies. Rising vehicle miles driven and rising demand from commercial vehicle owners can drive the replacement market growth. Fluctuations in raw material prices and stringent emission regulations can also pose challenges.

Key features of the study:

This report provides in-depth analysis of the global aftermarket automotive parts market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global aftermarket automotive parts market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include Aisin Seiki Co., AutoZone, Inc., Bridgestone Corporation, Continental AG, Denso Corporation, Faurecia, Goodyear Tire and Rubber Company, Hyundai Mobis, Lear Corporation, Magneti Marelli, Robert Bosch GmbH, Tenneco, Valeo SA, ZF Friedrichshafen AG, and 3M Company

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

Global aftermarket automotive parts market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global aftermarket automotive parts market

Detailed Segmentation-

By Product Type Insights (Revenue, USD Bn, 2019 - 2031)
- Engine Components
- Electrical Parts
- Suspension and Steering Parts
- Brake Parts
- Exhaust Parts
- Others
By Vehicle Type Insights (Revenue, USD Bn, 2019 - 2031)
- Passenger Cars
- Commercial Vehicles
- Two-Wheelers
By Sales Channel Insights (Revenue, USD Bn, 2019 - 2031)
- Offline
- Online
By Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- Aisin Seiki Co.
- AutoZone, Inc.
- Bridgestone Corporation
- Continental AG
- Denso Corporation
- Faurecia
- Goodyear Tire and Rubber Company
- Hyundai Mobis
- Lear Corporation
- Magneti Marelli
- Robert Bosch GmbH
- Tenneco
- Valeo SA
- ZF Friedrichshafen AG
- 3M Company

Product Code: CMI7403

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Vehicle Type
- Market Snippet, By Sales Channel
- Market Snippet, By Region

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Aftermarket Automotive Parts Market, By Product Type, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Engine Components
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Electrical Parts
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Suspension and Steering Parts
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Brake Parts
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Exhaust Parts
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Others
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)

5. Global Aftermarket Automotive Parts Market, By Vehicle Type, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Passenger Cars
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Commercial Vehicles
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Two-Wheelers
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)

6. Global Aftermarket Automotive Parts Market, By Sales Channel, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Offline
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)
Online
- Introduction
- Market Size and Forecast, 2019-2031, (USD Bn)

7. Global Aftermarket Automotive Parts Market, By Region, 2019-2031, (USD Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
North America
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Sales Channel, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Sales Channel, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Sales Channel, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Sales Channel, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Sales Channel, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - Israel
  - GCC Countries
  - Rest of the Middle East
Africa
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Vehicle Type, 2019-2031, (USD Bn)
- Market Size and Forecast, By Sales Channel, 2019-2031, (USD Bn)
- Market Size and Forecast, By Country, 2019-2031, (USD Bn)
  - South Africa
  - North Africa
  - Central Africa

8. Competitive Landscape

Company Profiles
- Aisin Seiki Co.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- AutoZone, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Bridgestone Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Continental AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Denso Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Faurecia
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Goodyear Tire and Rubber Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hyundai Mobis
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Lear Corporation
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Magneti Marelli
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Robert Bosch GmbH
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Tenneco
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Valeo SA
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- ZF Friedrichshafen AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- 3M Company
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
About us and Sales Contact