Automotive Aftermarket Market by Replacement Part, Certification, Distribution Channel, Service Channel

List of Tables

The Automotive Aftermarket Market was valued at USD 395.77 billion in 2023, expected to reach USD 414.25 billion in 2024, and is projected to grow at a CAGR of 5.08%, to USD 560.24 billion by 2030.

The automotive aftermarket encompasses all products and services purchased for light and heavy-duty vehicles after the original sale. This includes replacement parts, accessories, service repairs, maintenance, and customizations. The necessity of the aftermarket arises from the need for regular maintenance, repair, and enhancement of vehicles to ensure safety, efficiency, and personalization. Its applications span consumer vehicle maintenance, commercial fleet services, and collision repair centers, addressing end-users such as individual vehicle owners, automotive repair shops, and fleet operators. Key influencing growth factors include the increasing average vehicle age, rising vehicle ownership, technological advancements in vehicle components, and a surge in the number of vehicle accidents globally. Another critical growth driver is the proliferation of e-commerce platforms offering greater convenience and wider product selections to consumers.

KEY MARKET STATISTICS
Base Year [2023]	USD 395.77 billion
Estimated Year [2024]	USD 414.25 billion
Forecast Year [2030]	USD 560.24 billion
CAGR (%)	5.08%

Current opportunities lie in emerging economies where vehicle ownership is expanding, and digital transformation is leading the charge into e-commerce sales channels and data-driven service enhancements. Capitalizing on these involves investing in robust online marketplaces and leveraging data analytics for predictive maintenance and customer relationship management. Some of the limitations challenging the market growth include economic volatility affecting consumer spending, regulatory challenges around vehicle emissions and safety standards, and supply chain disruptions post-COVID-19. Innovation opportunities entail advancing electric vehicle component supply and integrating AI-driven diagnostic tools in aftermarket services. Another promising area is the development of eco-friendly, sustainable materials and processes for parts manufacturing.

To thrive in this ever-evolving landscape, businesses should focus on forming strategic partnerships with e-commerce platforms, adopting advanced technologies to optimize supply chains, and enhancing customer engagement through personalized offerings. Given the highly competitive and fragmented nature of the market, differentiation through technological integration and sustainability can offer significant advantages. These insights provide a roadmap for stakeholders to navigate the complexities and harness the potential of the automotive aftermarket space.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Automotive Aftermarket Market

The Automotive Aftermarket Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Growing sales of used vehicles and aging of vehicles
- Improved availability and supply chain of automotive accessories through online platforms
- Incessant need for constant repairs, replacement, and maintenance of components
Market Restraints
- High capital required and ratification of vehicle safety technologies
Market Opportunities
- Integration of innovative technologies in automotive aftermarket
- Expansion of OEMs into automotive aftermarket activities
Market Challenges
- Concerns regarding visibility and tracking of products

Porter's Five Forces: A Strategic Tool for Navigating the Automotive Aftermarket Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Automotive Aftermarket Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Automotive Aftermarket Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Automotive Aftermarket Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Automotive Aftermarket Market

A detailed market share analysis in the Automotive Aftermarket Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Automotive Aftermarket Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Automotive Aftermarket Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Automotive Aftermarket Market

A strategic analysis of the Automotive Aftermarket Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Automotive Aftermarket Market, highlighting leading vendors and their innovative profiles. These include 3M Company, ABS Friction Inc., AcDelco by General Motors Company, Aisin Seiki Co., Ltd., Akebono Brake Industry Co., Ltd., ALCO Filters Ltd., Asimco Global Inc., BASF SE, BorgWarner Inc., Bridgestone Corporation, Continental AG, DENSO Corporation, Eberspacher Gruppe GmbH & Co. KG, FORVIA Group, Hyundai Mobis Co., Ltd., Lear Corporation, Magna International, Inc., Mahle GmbH, Marelli Holdings Co., Ltd., PHINIA Inc., Robert Bosch GmbH, Schaeffler AG, Sumitomo Electric Industries, Ltd., Tenneco Incorporated, The Goodyear Tire & Rubber Company, Toyota Motor Corporation, Valeo, Yazaki Corporation, and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Automotive Aftermarket Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Replacement Part, market is studied across Battery, Body parts, Brake parts, Exhaust components, Filters, Lighting & Electronic components, Tire, Turbochargers, and Wheels.
Based on Certification, market is studied across Certified Parts, Genuine Parts, and Uncertified Parts.
Based on Distribution Channel, market is studied across Retailers and Wholesalers & Distributors. The Retailers is further studied across E-Retailers, OEMs, and Repair Shops.
Based on Service Channel, market is studied across DIFM (Do It for Me), DIY (Do It Yourself), and OE (Delegating to OEM's).
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-434CCDA047DC

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing sales of used vehicles and aging of vehicles
  - 5.1.1.2. Improved availability and supply chain of automotive accessories through online platforms
  - 5.1.1.3. Incessant need for constant repairs, replacement, and maintenance of components
- 5.1.2. Restraints
  - 5.1.2.1. High capital required and ratification of vehicle safety technologies
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of innovative technologies in automotive aftermarket
  - 5.1.3.2. Expansion of OEMs into automotive aftermarket activities
- 5.1.4. Challenges
  - 5.1.4.1. Concerns regarding visibility and tracking of products
5.2. Market Segmentation Analysis
- 5.2.1. Replacement Part: Significant demand for tires in automotive aftermarket
- 5.2.2. Distribution Channel: Emerging e-retailer platforms for automotive aftermarket
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Automotive Aftermarket Market, by Replacement Part

6.1. Introduction
6.2. Battery
6.3. Body parts
6.4. Brake parts
6.5. Exhaust components
6.6. Filters
6.7. Lighting & Electronic components
6.8. Tire
6.9. Turbochargers
6.10. Wheels

7. Automotive Aftermarket Market, by Certification

7.1. Introduction
7.2. Certified Parts
7.3. Genuine Parts
7.4. Uncertified Parts

8. Automotive Aftermarket Market, by Distribution Channel

8.1. Introduction
8.2. Retailers
- 8.2.1. E-Retailers
- 8.2.2. OEMs
- 8.2.3. Repair Shops
8.3. Wholesalers & Distributors

9. Automotive Aftermarket Market, by Service Channel

9.1. Introduction
9.2. DIFM (Do It for Me)
9.3. DIY (Do It Yourself)
9.4. OE (Delegating to OEM's)

10. Americas Automotive Aftermarket Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Automotive Aftermarket Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Automotive Aftermarket Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. PRT Showcases Innovative Automotive Solutions at AAPEX
- 13.3.2. Akebono Launches Advanced Brake Pads for Diverse Fleet Needs
- 13.3.3. ZF Aftermarket Enhances Vehicle Part Assortment in North America
- 13.3.4. Empowering eCommerce Growth in the Automotive Sector: ID Auto Inc.'s Strategic Investment in Innovation and Expansion
- 13.3.5. Cloyes Expands Market Footprint with Strategic Acquisition of Automotive Tensioners Incorporated
- 13.3.6. O'Reilly Automotive, Inc. Expands Reach into Canada with Strategic Acquisition
- 13.3.7. Transtar Holding Company Expands Market Presence Through Strategic Acquisition of Arch Auto Parts
- 13.3.8. Strategic Alliance Boosts Supply Chain Efficiency Across 1,300 Service Locations
- 13.3.9. ADVICS Unveils Innovative Expansion with Electric Parking Brake Actuator Kits in Automotive Aftermarket
- 13.3.10. AutoNation Innovates in the Automotive Aftermarket with New eCommerce Solution for Parts and Accessories
- 13.3.11. Strategic Alliance Between TotalEnergies Marketing USA and Automotive Parts Services Group Enhances Customer Value
- 13.3.12. Yazaki Expands Operations in Egypt with a New Factory in Fayoum
- 13.3.13. Strategic Expansion: Marubeni's Acquisition of APSH Enhances Auto Aftermarket Services
- 13.3.14. ITT Inc. Secures Decade-Long Aftermarket Partnership with Continental AG for Brake Pad Supply
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. 3M Company
2. ABS Friction Inc.
3. AcDelco by General Motors Company
4. Aisin Seiki Co., Ltd.
5. Akebono Brake Industry Co., Ltd.
6. ALCO Filters Ltd.
7. Asimco Global Inc.
8. BASF SE
9. BorgWarner Inc.
10. Bridgestone Corporation
11. Continental AG
12. DENSO Corporation
13. Eberspacher Gruppe GmbH & Co. KG
14. FORVIA Group
15. Hyundai Mobis Co., Ltd.
16. Lear Corporation
17. Magna International, Inc.
18. Mahle GmbH
19. Marelli Holdings Co., Ltd.
20. PHINIA Inc.
21. Robert Bosch GmbH
22. Schaeffler AG
23. Sumitomo Electric Industries, Ltd.
24. Tenneco Incorporated
25. The Goodyear Tire & Rubber Company
26. Toyota Motor Corporation
27. Valeo
28. Yazaki Corporation
29. ZF Friedrichshafen AG