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Automotive After Market To Reflect Impressive Growth Rate By 2025 | Grand View Research, Inc.

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Automotive After Market To Reflect Impressive Growth Rate By 2025 | Grand View Research, Inc.

March 18
14:52 2019

Grand View Research, Inc. – Market Research And Consulting
According to report published by Grand View Research, The automotive aftermarket is estimated to grow significantly over the forecast period, owing to an increase in number of lightweight vehicles. Digitalization of automotive repair and component sales has been brought on by the incorporation of advanced technologies; this is slated to boost market growth.

According to new a report, “Automotive Aftermarket Size, Share & Trends Analysis Report By Replacement Part, By Distribution Channel (Retailers, Wholesalers & Distributors), By Service Channel (DIY, DIFM, OE), By Certification, And Segment Forecasts, 2018 – 2025”, published by Grand View Research, Inc.; The global automotive aftermarket size is expected to reach USD 486.36 billion by 2025, registering a 4.2% CAGR during the forecast period.  
Surging reception of electric and hybrid vehicles as well as semi-autonomous and autonomous cars in the years to come is further expected to bolster market growth. Based on replacement parts, the market can be categorized into tire, battery, brake parts, filters, body parts, lighting and electronic components, wheels, exhaust components, and turbochargers.

 Key Takeaways from the report:

  • North America has a higher technology adoption rate, which is anticipated to result in faster and higher adoption of hybrid/electric automobiles in the region

  • The global automotive aftermarket is anticipated to be driven by mushrooming specialized automotive collision repair centers dedicated toward serving specific vehicles such as alternate fuel powered vehicles

  • Key industry participants include Magneti Marelli S.p.A., Continental AG, 3M Company, Federal-Mogul Corporation, Delphi Automotive PLC, Robert Bosch GmbH, and Denso Corporation. 

U.S. automotive aftermarket, by replacement part, 2014 - 2025 (USD Billion)

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Global automotive aftermarket revenue, by service channel, 2016 (%)

Increasing vehicle sales are driven by overall improvement in living standards, especially in developing countries such as India and Brazil. This has driven the global automobile industry. Similar growth in automotive manufacturing across various regions, along with increasing stringent emissions norms, is expected to drive automotive aftermarket component sales over the forecast period.

Asia Pacific is expected to be the fastest growing market for automotive collision repair services over the forecast period, owing to high vehicle production, rising road accidents, and improving living standards of consumers. It is also anticipated to be the fastest-growing market in automobile production. With growing penetration and acceptance of gas and hybrid/ electric cars, specialized repair centers are expected to increase.

Grand View Research has segmented the global automotive aftermarket based on replacement part, distribution channel, service channel, certification, and region:

Automotive Aftermarket Replacement Part Outlook (Revenue, USD Billion, 2014 – 2025)

  • Tire

  • Battery

  • Brake parts

  • Filters

  • Body parts

  • Lighting & Electronic components

  • Wheels

  • Exhaust components

  • Turbochargers

  • Others

Automotive Aftermarket Distribution Channel Outlook(Revenue, USD Billion, 2014 – 2025)

  • Retailers

  • OEMs

  • Repair Shops

  • Wholesalers & Distributors

Automotive Aftermarket Service Channel Outlook(Revenue, USD Billion, 2014 – 2025)

  • DIY (Do It Yourself)

  • DIFM (Do It for Me)

  • OE (Delegating to OEMs)

Automotive Aftermarket Certification Outlook (Revenue, USD Billion, 2014 – 2025)

  • Genuine Parts

  • Certified Parts

  • Uncertified Parts

Automotive Aftermarket Regional Outlook (Revenue, USD Billion, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • South America

    • Brazil

  • Middle East & Africa

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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