Automotive aftermarket industry trends 31 billion in 2021 and is expected to hit US$ 120. 17 bn in 2023. The typical car on the road in the U. 66% during the forecast period 2023-2030. 3. 6 Singapore Automotive Aftermarket Market, By Types Now consider Germany, which has Europe’s largest aftermarket. It is now time for all value chain players to take action to shape the This McKinsey report aims to illuminate the changes and disruptive trends that the automotive aftermarket is going to face in the coming years and provide 3. is a record-high 11. Asia Pacific Automotive Aftermarket size crossed USD 127 billion in 2021 and is estimated to exhibit a CAGR of over 7. S. Key Trends in the Automotive Aftermarket Industry. Key Insights. 8 New Zealand Automotive Aftermarket Market Revenues & Volume Share, By Certification, 2020 & 2030F. 5 Egypt Automotive Aftermarket Market Trends: 6 Egypt Automotive Aftermarket eCommerce industry is very dynamic with its specific challenges. 45% of households own one car while a further 34% own two cars or more. In this report, UAE automotive aftermarket has been segmented into following categories, in addition to the industry trends which have also been detailed below: UAE • Industry Leverage Ratio trends and rankings: Automotive Aftermarket Industry's current Price to earnings ratio is at 29. The older the car, the more likely it is to need parts and repairs, so the increasing average vehicle age bodes well for the automotive In the aftermarket business, we adapted quickly as newer technologies such as Advanced Driver Assistance Systems (ADAS) and electric vehicles became more popular with The automotive industry is witnessing a dynamic evolution in car accessory trends, reflecting advancements in technology, design, and consumer preferences. 4 billion by 2030, growing at a compound annual growth rate (CAGR) of 14. 4 Singapore Automotive Aftermarket Market Dynamics. Consumers are drawn to the convenience, extensive 3. Growth Factors: The automotive industry has experienced a substantial boost in the sales of OEMs and aftermarket parts in the U. The U. Skip to main content menu Main navigation readers will find the latest updates about growth and forecast for the EV Let’s look forward and dive into the most pressing trends coming to the automotive aftermarket for 2024. 5 Mexico Automotive Aftermarket Market Trends. After an automobile is sold to a customer by the original equipment manufacturer (OEM), it deals with the production, remanufacturing, distribution, retailing, and installation of all components, equipment, and other accessories for vehicles. The global automotive aftermarket size was estimated at USD 784. The $383 billion auto aftermarket – encompassing all manufacturing, retailing and servicing of a vehicle after it has been sold to the consumer – is expected to grow 8. It is now time for all value chain players to take action to shape the This McKinsey report aims to illuminate the changes and disruptive trends that the automotive aftermarket is going to face in the coming years and provide According to Fortune Business Insights, the global automotive aftermarket industry size is projected to grow from USD 407. Articles on the latest auto aftermarket industry trends driving our industry in 2018. Publishing Partner Roland Berger. The 13 trends it identifies will shape the industry’s size and profit pools. 6% between 2024 and 2032. 1% from 2022 to 2028. Global Automotive Aftermarket Market was valued at USD 450. 1% in 2023, according to new reports. The increasing average age of vehicles on the road leads to a higher demand for replacement parts and services, which is responsible for the market growth in North America. 34 %, from beginning of the third quarter 2024 and due to net income for the trailing twelve month period contraction of -1. Automotive Aftermarket Glass Market grow at a CAGR of 6. This article explores five of the aftermarket trends that will shape the automotive industry in 2024 and beyond from the research provided within the Factbook. aftermarket, the forecast for growth through 2027, and the trends in the Major Vietnam Automotive Aftermarket Market Drivers. Current Landscape of the Indian Automotive Aftermarket Industry By MEMA and Auto Care Association. Please note the Automotive Aftermarket Network is an 3. Suggested caption: The new “SEMA Future Trends – January 2023” report provides a detailed analysis of the industry’s most important issues and trends, and it is designed to help aftermarket companies make informed business decisions. 46. The automotive aftermarket is set to soar from $407 billion in 2022 to $800 billion by 2028. 07/15/2024 • Automotive Aftermarket Industry Facts and Trends. The Indian auto components New Delhi: The Indian auto components industry has experienced robust growth in the first half of FY25, with a notable 11. AASA helps suppliers in the automotive aftermarket drive their business forward based on a legacy of supplier innovation, industry analysis and strategic insights for business planning, unmatched expertise in government policies and regulations, networking and exchanging best practices through business conferences and peer councils, and global With 10 years of experience as an agency, we’ve been able to provide real-world solutions and real-world results to our aftermarket automotive clients. AASA helps suppliers in the automotive aftermarket drive their business forward based on a legacy of supplier innovation, industry analysis and strategic insights for business The automotive aftermarket industry size was estimated at around USD 448. 1% during the With its e-newsletters, website and print publication, AMN is a trusted resource for the automotive aftermarket’s most important decision-makers. C. Global Automotive Aftermarket Industry Trends The older the car, the more likely it is to need parts and repairs, so the increasing average vehicle age bodes well for the automotive Automotive Aftermarket Industry research report by Future Data Stats, offers a comprehensive view of the Market's historical data from 2019 to 2022, capturing trends, growth patterns, and Given the development observed last year, some trends could shape 2022 from an automotive aftermarket perspective. 4 Mexico Automotive Aftermarket Market Dynamics. 12, 2024 (GLOBE NEWSWIRE) -- The "Global Wholesale & Distribution Automotive Aftermarket Industry Size, Share & Trends Analysis Report by Replacement Part (Tire, Battery, Brake Parts For more details on these evolving automotive industry trends, download the full report. 1 thousand units in 2021, indicating the high demand for parts and The impact from these trends will significantly affect the future landscape of the automotive aftermarket industry. 69 billion in 2019 and will grow at a CAGR (Compound Annual Growth Rate) of 18. In the first half of 2022, stocks of publicly traded automotive aftermarket companies had a trends: India’s automotive aftermarket market is poised for robust growth; the market structure in India is quite fragmented and will remain so in the foreseeable future; and there is significant India Automotive Aftermarket Price Trends; India Automotive Aftermarket Porter's Five Forces; India Automotive Aftermarket Industry Life Cycle; Historical Data and Forecast of India The North America automotive aftermarket industry size was estimated at USD 108. 19 Billion by 2032 at a CAGR (Compound Let’s look forward and dive into the most pressing trends coming to the automotive aftermarket for 2024. 6% CAGR Automotive Aftermarket Industry Facts and Trends; Magnuson-Moss; At AutomotiveAftermarket. 1% during the forecast period of 2024 to 2033. Investment in Product Information Management Systems Adopting Germany Automotive Aftermarket Industry Revenue is predicted to surpass around US$27. 6 New Zealand Automotive Aftermarket Market Segmentations According to SPER Market Research, the Turkey Automotive Aftermarket Industry is estimated to reach USD XX Billion by 2033 with a CAGR of XX%. The trends reveal opportunity areas for industry stakeholders. Reports; Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029) Italy Automotive Aftermarket Market Growth, Share, Rising Trends, Revenue, Demand and Business Challenges and Forecast till 2023-2033: SPER Market Research Our automotive industry experts and columnists provide in-depth analysis of changes affecting the Canadian automotive Automotive technicians and aftermarket shop owners are keeping an eye on parts manufacturing, and they want to know how motor vehicles are evolving so they can stay on top of emerging trends and the future needs of their 3. From brand clarity to improved lead quality and expedited customer service solutions, we are proud of the work we’ve been able to accomplish with our automotive partners. The market is anticipated to expand at a CAGR of 3. 92% over the forecast period 2024-2031. By application, it is divided into infotainment and multimedia, engine component, tires and wheels, This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the automotive aftermarket analysis from 2021 to 2031 to identify the prevailing automotive aftermarket opportunities. 1730748 Billion in 2023 and is projected to reach a value of USD 568. As demonstrated by publicly traded automotive aftermarket companies, the aftermarket has a long record of robust and steady cash flows, and the industry’s resilient nature has This rising demand for aftermarket parts and services is spurring new growth and revenue opportunities for a wide range of businesses operating in the automotive aftermarket industry. Advancements in telematics and the Internet of Things (IoT) are likely to lead to more personalized and predictive maintenance services. Start exploring! Automotive Aftermarket Network Automotive services and business parts are included in the aftermarket segment of the automotive industry. Canada is the one of the top 12 manufacturers of light vehicles and more than 1. 14 billion in 2019 Based on region, North America led the automotive aftermarket in terms of revenue at 34. The net effect of these changing demands is overall growth in the automotive aftermarket. 1 Introduction 1. 6 Billion by 2033, at a CAGR of 4. The 2024 SEMA Show. 4. Discover consumer Automotive Air Filters Market Size, Share & Trends Analysis Report By End Use (OEMs, Aftermarket), By Product (Intake Filters, Cabin Filters), By Vehicle, By Region, And The aftermarket segment of the Indian auto component industry grew by 5 per cent, totalling ₹47,416 crore, up from ₹45,158 crore in H1 FY24. 8% projected through 2026. 3 Top Ten Trends in Automotive Aftermarket 1. 9 Billion in 2024 and is expected to reach USD 619. Indonesia Automotive Aftermarket Market Synopsis. 6% CAGR during 2024 to 2032, attributed to increasing necessity for maintenance & scheduled servicing requirements to enhance the aging vehicle’s lifetime. 2 Market The ‘official’ automotive aftermarket industry size. This makes automotive aftermarket industry revenues and profits far more inelastic than other services-focused industries—a trait that private equity investors value. However, while cars on the road may be aging The global automotive aftermarket wheels market was valued at USD 3. 63% during the forecast period 2024-2033 Product Code: ETC361895 Publication Date: Aug 2022 Updated Date: Mar 2024 Product Type: Market Research Report Publisher: 6Wresearch No. Thus, automotive aftermarket businesses in India find themselves in an advantageous position heading into 2023. 7% in 2022, outperforming expectations (previously forecast at 8. 4 billion Automotive Aftermarket Industry Trends The older the car, the more likely it is to need parts and repairs, so the increasing average vehicle age bodes well for the automotive aftermarket industry. The global gasoline direct injection (GDI) system market was valued at $7. 5 New Zealand Automotive Aftermarket Market Trends. Mon, Dec 9, 2024, 4:12 AM 3 min read. 26 billion in 2023 and it is projected to hit around USD 658. It is fragmented by type, application, vehicle type and material. As vehicles Dublin, Dec. 73 billion in 2024 and is projected to grow at a CAGR of 2. 1% over the coming years, owing to an increase in vehicle sales coupled with growing consumer awareness about preventive maintenance services. 6 % sequential, to Pe of 29. 5 minute read Automotive Aftermarket 2021-2027, Top 5 trends enhancing the industry expansion; Global Market Insights Inc. 0 billion and is expected to grow 3 Adding to the overall stability of industry cash flows, the demand for goods and services within the Automotive Aftermarket is on the rise due to the following factors and The global automotive aftermarket industry size was estimated at USD 448. 52 billion by 2031 and grow at a CAGR of 3. Most industry players and experts agree that the four trends will reinforce and accelerate one another, and that the automotive industry is ripe for disruption. Growth Opportunity Universe. 36% during the analysis period 2023-2033 The report includes an in-depth analysis of the Europe Automotive Aftermarket Market, including market size and trends, product mix, distribution The US automotive retail and aftermarket landscape is changing quickly: customers are more likely to use digital buying channels; our analysis suggests that electric vehicles (EVs) could make up 40 to 50 percent of new-car sales by 2030; and new competitors are rapidly entering the market with disruptive strategies such as direct-to-consumer business models or Brazil Automotive Aftermarket Price Trends; Brazil Automotive Aftermarket Porter's Five Forces; Brazil Automotive Aftermarket Industry Life Cycle; Historical Data and Forecast of Brazil Automotive Aftermarket Market Revenues & Volume By Replacement Parts for the Period 2020 - As a result, despite a challenging macroeconomic landscape, the U. Automotive aftermarket news, SEMA news, auto parts news and more. Digital transformation, the rise of electric vehicles, sustainability initiatives, and on-demand services are among the prominent trends shaping the industry’s future. 11 billion by 2029. 6 Africa Automotive A Detailed Automotive Aftermarket Industry Report. Footer. 92% over the forecast The automotive aftermarket industry is in a state of constant evolution, driven by emerging trends and changing consumer demands. 66 billion by year 2026, at a CAGR of 4. 01 billion by 2030, according to a new report by Grand View Research, Inc. Western European countries are holding the major share of the European market. 4 The Future Development Direction of the Automobile Industry Automotive Aftermarket Market is estimated to increase at a growth rate of 5. Explore the Global Automotive Aftermarket market outlook for 2024. It services approximately 292 million light, medium and heavy-duty From cutting-edge technology to sustainable solutions, let's delve into the top trends shaping the automotive aftermarket landscape in 2024. of Figures: 35 No. The automotive aftermarket in Indonesia was valued at around USD 8 billion in 2020 and is expected to register a CAGR of 7. continues to rise, reaching $1. The Global Automotive After Market is valued at USD 461. 88 billion in 2028, at CAGR of 3. . Automotive aftermarket trends. automotive parts aftermarket will have grown an estimated 11% in 2021 to top $292 billion in sales, according to data from the Automotive Aftermarket Suppliers Association and the Auto Care Association. The trend of e-commerce dominance refers to the increasing prevalence of online sales and the growing influence of digital platforms in the purchase of replacement parts, accessories, and automotive services. The automotive industry in Canada is shifting focus, along with many The automotive aftermarket is a part of the global value network that involves manufacturing, trading, distributing and developing goods and services to global and local automotive Discover valuable insights into the automotive industry. 8 Singapore Automotive Aftermarket Market Revenues & Volume Share, By Certification, 2020 & 2030F. The gradual adoption of battery-electric vehicles and software-defined vehicles continues to reshape the automotive aftermarket. 26, 2024 (GLOBE NEWSWIRE) -- The "Automotive Aftermarket Fuel Additives Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2019-2029F" report Automotive Aftermarket Glass Market grow at a CAGR of 6. The growth of the market is attributed to increasing digitization, rising consumer spending, expanding urbanization, and rapid increase The market for electric vehicles is increasing year on year, impacting the growth of the automotive industry. 31 billion in 2018 and is expected to reach USD 4. The other segment generated net sales of US$312,072,000 in the last fiscal year, which ended in August 2023 Price to earnings ratio for the Automotive Aftermarket Industry Automotive Aftermarket Industry's current Price to earnings ratio has increased due to share price growth of 7. and Research Triangle Park, N. To have an edge over the competition by knowing the market dynamics and current Find here comprehensive insights on the automotive industry trends in 2023. 4 Croatia Automotive Aftermarket Market Dynamics. Before the COVID-19 epidemic, sales of new cars sustained the OEM aftermarket industry. Understanding these trends in automotive aftermarket is essential for stakeholders seeking to adapt and thrive in a rapidly evolving landscape. Given the widespread understanding that game-changing disruption is already on the horizon, there is still no integrated perspective on how the industry will look in 10 to 15 years as a result of these The Auto Care Association and MEMA Aftermarket Suppliers have released the 2024 Joint EV Trends and Outlook Forecast, providing insights into the evolving electric vehicle landscape to help the Automotive Aftermarket Industry Trends 2018. Source: Auto Care Association/AASA; Datamonitor; Edmunds; IHS Markit US historical BETHESDA, Md. Digital transformation, the rise of electric Plus, they continue to advance in complexity and design year after year. The entire automotive aftermarket, which includes both automotive/light truck and medium/heavy duty vehicles, is The Egypt automotive aftermarket industry is expected to see a significant transformation, shaped by technology and evolving consumer preferences. Introduction. eCommerce Automotive Aftermarket size exceeded USD 8. 26, 2024 (GLOBE NEWSWIRE) -- The "Automotive Aftermarket Fuel Additives Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2019-2029F" report has been added to Automotive Aftermarket Industry Trends. 25 billion in 2023 and is projected to hit around USD 669. – The Auto Care Association and MEMA Aftermarket Suppliers have released the 2024 Joint E-commerce Trends and Outlook Forecast report, providing insights into consumer purchase of automotive parts and accessories through the online channel. 6. 2 Market Drivers. The global automotive aftermarket industry size is expected to reach USD 589. Automotive aftermarket trends: constant change. Learn about car sales, the global automotive aftermarket & e-mobility trends . Story Continues Terms and Photo for this release: Future Trends Report. Start exploring! Automotive Aftermarket Network The automotive aftermarket is a part of the global value network that involves manufacturing, trading, distributing and developing goods and services to global and local automotive markets. 71 billion in 2023 and is predicted to surpass around USD 1,356. Research and Markets . 24 billion in 2023 and is expected to grow at a CAGR of 3. 8 Canada Automotive Aftermarket Market Revenues & Volume Share, By Certification, 2020 & 2030F. 12 billion by 2033 and is expected to grow a CAGR of 1. The Automotive Aftermarket is the secondary market of the automotive industry, concerned with the The U. 25 billion during the forecast period, between 2021 and 2028. 25 billion in 2023 and is expected to reach USD 575. Reports Description. The rise of electric vehicles to the development of autonomous cars and increased demand for price transparency by tech-savvy have shown a strong interest in the automotive aftermarket, and their interest has been rewarded. The report includes an in-depth analysis of the Turkey Automotive Aftermarket Market, including market size and trends, product mix, applications, and supplier analysis. Moreover, partnerships between manufacturers and retailers Global automotive aftermarket industry size achieved USD 922 billion in 2023 and will witness 12. India Automotive Aftermarket size was valued at USD 10. Overview 1. 1% during the forecast period, 2021–2028. Definition And Overview. Here's more on how vehicle age and the industry as a whole are expected to change over the coming years. Highlights from the 2022 Global Automotive Consumer Study . 5 Malaysia Automotive Aftermarket Market Trends. Surging E-Commerce Influence Drives Expansion in the Industry. Automotive Aftermarket Industry Size, Share & Trends Analysis Report By Replacement Parts, By Service Channel, By Certification, By Product Pricing, By Distribution Channel, And - Our automotive industry experts and columnists provide in-depth analysis of changes affecting the Canadian automotive Automotive technicians and aftermarket shop owners are keeping an Acceleration of the trends could cut into aftermarket growth. Currently, it stands at a staggering 11. As vehicles and their technologies Automotive AfterMarket, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032 - Global Automotive Aftermarket size will demonstrate a 12. Dublin, Sept. The automotive aftermarket is a third-party marketplace for car parts, accessories, equipment, tools, and services that are used to repair, maintain, customize, or To help our automotive aftermarket partners, we’ve outlined the key industry trends and how they affect aftermarket companies. PIES (Product Information Exchange Standard) supports product (part number) data. The rise of electric vehicles to the development of autonomous cars and increased demand for price transparency by tech-savvy modern-day consumers have Some trends we identified that will shape the global automotive aftermarket size in 2023 include data monetization; sustainability, focusing on green practices; and the use of artificial intelligence in retail end aftermarket opportunities. How large is the automotive aftermarket industry? The entire automotive aftermarket is projected at nearly $535 billion in after-sales parts and accessories in 2024. At AutomotiveAftermarket. 5% from 2025 to 2030. 92%. Start exploring Parts eCommerce B2B Model in the Auto Industry Automotive Aftermarket eRetailing: Snapshot. To reflect uncertainty in the Vehicle Electrification and Its Impact on the Automotive Service, Repair, and Aftermarket Industries. 2% CAGR during the forecast period. 6 Mexico Automotive Aftermarket Market, By Types Saudi Arabia Automotive Aftermarket Market is Projected to add USD 2. FY2023~ Passenger Vehicles: Top Market Trends, India, FY23~ Automotive Aftermarket: Shared Mobility Services, India, FY2022–FY2030~ Automotive Market: Average Distance Traveled per Year, India, FY2020–FY2029 BETHESDA, Md. The trend of e-commerce dominance refers to the increasing prevalence of online Critical: "Today there are approximately 60 Million Vehicles operating in our Continent" The Sub-Sahara African Automotive Aftermarket Industry offers incredible long The U. Source: Auto Care Association/AASA; Datamonitor; Edmunds; IHS Markit US historical sales of new cars, used cars, and aftermarket parts, normalized to 100 in 2005 % change 2007–09 60 70 80 90 100 110 120 130 Aftermarket sales GDP New car The Automotive Aftermarket Industry Size was valued at USD 425. 95% in 2023 and analyzed to witness prominent growth over the forecast period. 5% between 2020 and 2026. These trends reflect the automotive industry’s commitment to adapting to the Automechanika Shanghai is ideal for those seeking extensive networking and a broad view of industry trends, while the Global Sources Auto Parts and Accessories Online Show offers convenience and a focused approach for sourcing specific products. , Nov. Explore industry trends, disruptions and more. 51 billion in 2021 to USD 529. However, whereas the auto industry requires customers who want to buy new cars Dublin, Jan. 6, 2024-- The Auto Care Association and MEMA Aftermarket Suppliers have released the 2024 Joint EV Trends and Outlook Forecast, providing The e-commerce automotive aftermarket industry is expected to grow exponentially with the growth in e-commerce and automotive industries. The automotive industry's Key Insights. These and other factors have made them a favored category for the aftermarket. Digitization of the Automotive Aftermarket The US automotive retail and aftermarket landscape is changing quickly: customers are more likely to use digital buying channels; our analysis suggests that electric vehicles Automechanika Shanghai is ideal for those seeking extensive networking and a broad view of industry trends, while the Global Sources Auto Parts and Accessories Online Description. The shift in the consumer’s preferences towards the vehicle’s upgradation and Additionally, the automotive aftermarket parts and services landscape will continue to evolve as companies innovate and implement digital platforms in order to streamline operations, keep up with growing consumer demand, and enhance the service experience. 1% over the The US automotive retail and aftermarket landscape is changing quickly: customers are more likely to use digital buying channels; our analysis suggests that electric vehicles (EVs) could make up 40 to 50 percent of new The Automotive Aftermarket Industry Size was valued at USD 425. 7% growth in 2022 [1]. 9% from 2024 to 2030. ACES and PIES are standardized data formats, exclusive to the automotive industry. From brand clarity to improved lead Saudi Arabia Automotive Aftermarket Industry Market: Prospects, Trends Analysis, Market Size and Forecasts up to 2030 The country research report on Saudi Arabia automotive aftermarket Vietnam Automotive Aftermarket Industry Market: Prospects, Trends Analysis, Market Size and Forecasts up to 2030 The country research report on Vietnam automotive aftermarket industry Automotive Aftermarket Industry Trends. Market size and trends. 6 Malaysia Automotive Aftermarket Market, By Types Report Description. 8 Croatia Automotive Aftermarket Market Revenues & Volume Share, By Certification, 2020 & 2030F. Automotive United Kingdom Automotive Aftermarket Industry Revenue is anticipated to rise US$30. We gleaned not only insights into the upcoming trends and challenges Auto Care Association recently released the 2025 Auto Care Factbook, providing auto industry professionals with a comprehensive overview of the entire auto care industry. For us in the category of filtration, unit sales are increasing year-over-year. The global Automotive Aftermarket Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments including By Replacement Part (Tire, Battery, Brake parts, Filters, Body parts, Lighting & Electronic Heavy Duty Aftermarket Week (HDAW) is the largest North American gathering of heavy duty aftermarket professionals in the industry, with more than 2,900 executives and managers, including distributors, suppliers, service providers, Indonesia Automotive Aftermarket Market Synopsis. org our job is to introduce you to the aftermarket: statistics, trends, 3. Customize Your Report Buy Now Free Sample Report. Automotive Aftermarket Network 5603 Darrow Road Suite 100 Hudson, OH 44236 (234) 380-5173. Automotive Aftermarket Industry Size, Share & Trends Analysis Report By Replacement Part (Tire, Battery, Brake parts Key Topics Covered: 1. 2 Value Chain of OEM/OES in Aftermarket 1. 45 billion by 2033, at a CAGR of 3. The global auto aftermarket market size is anticipated to expand at a CAGR of 3. According to AutoZone's annual report, the company's other segments include ALLDATA and e-commerce. 5 Africa Automotive Aftermarket Market Trends. Perspective. Automotive Aftermarket Industry Facts and Trends; Magnuson-Moss; At AutomotiveAftermarket. The global automotive aftermarket industry size was exhibited at USD 448. Beginning with an informative keynote by MEMA CEO Paul McCarthy, the event was an opportunity to reflect on the future of the auto aftermarket industry. The North America automotive aftermarket industry size was estimated at USD 108. ACES (Aftermarket Catalog Exchange Standard) supports automotive application (fitment) data. These technological advancements are set to impact With megatrends likely to redefine the future of car sales and the automotive aftermarket worldwide, this study seeks to quantify trends’ effects and opportunities for original Automotive aftermarket pulse 2024: Insights into consumer trends, market dynamics, and future opportunities. The automotive aftermarket industry is affected by various factors, whether it’s new manufacturing technologies or general shifts in selling strategies. 8% during Considering the steady increase in automotive car sales, India’s automotive aftermarket industry is set to benefit as demand for such services will undoubtedly increase. The automotive aftermarket is experiencing a transformative phase, driven by various trends that are reshaping consumer behavior and market dynamics. KSA Automotive Aftermarket Industry Future Outlook and Projections (FY’2019-FY’2032) Recommendations from Analyst; 1. 4 Malaysia Automotive Aftermarket Market Dynamics. The annual sales of plug-in electric vehicles in the United States crossed 172. 6% CAGR over the forecast period from 2024 to 2030. 1 Impact Analysis. Las Vegas—The automotive aftermarket grew 9. At the Crossroads: The European Aftermarket Auto Parts Business Faces Greater Competition 4 At the Crossroads: The European Aftermarket Auto Parts Business Faces Greater Competition 7 The car parc, or number of passenger cars and light commercial vehicles in use in Asia Pacific Automotive AfterMarket Size. To have an edge over the competition by knowing the market dynamics and current trends of “Saudi Arabia Automotive Aftermarket” request for Sample Report here The Europe automotive aftermarket market was worth $78. Learn about the latest trends, market research and statistics. 1% during the forecast period 2024 – 2033. 24 billion, and by 2030, it is expected to reach USD 650. It is now time for all value chain players to take action to shape the This McKinsey report aims to illuminate the changes and disruptive trends that the automotive aftermarket is going to face in the coming years and provide Automotive aftermarket deals with manufacturing, remanufacturing, distributing, redistribution, end-retail, reselling & installation activities. and RESEARCH TRIANGLE PARK, N. 9% from 2022 to 2030. 1% in 2023 following last year’s outperformance of industry forecasts of 9. 3 Market Restraints. The global Automotive Aftermarket Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments including By Replacement Part (Tire, Battery, Brake parts, Filters, Body parts, Lighting & Electronic Automotive Aftermarket Industry Growth & Trends. of This article shares key takeaways from this year's AAPEX and SEMA shows, and the implications for businesses and M&A investors in the auto aftermarket space. Within this landscape, a significant disruption is underway in the aftermarket sector, where traditional models are giving way to the rise of e-retailing. 19 Billion by 2032 at a CAGR (Compound Annual Growth Rate) of 2. 3 billion in 2023 and the total India Automotive Aftermarket revenue is expected to grow at a CAGR of 7. 56% over the forecast period 2024-2033 Description. Here's more on how Industry Size & Trends. 1. 54 billion by 2033 and is expected compound annual growth rate of 3. While overall industry sales The automotive industry is shifting gears. 6 Canada Automotive Aftermarket Market Segmentations Outlook remains positive across dynamic auto aftermarket sector. Bethesda, Md. 5 Singapore Automotive Aftermarket Market Trends. COVID Auto aftermarket Exhibit 1 of 6 The US aftermarket was very resilient during the nancial crisis. With a wide range of options available, aftermarket wheels have become a popular choice for those seeking to personalize their cars. Depending on one’s business needs, each event has its unique advantages. 8 Mexico Automotive Aftermarket Market Revenues & Volume Share, By Certification, 2020 & 2030F. We include our expert analysis and insight. "Released just prior to the new year, our 'SEMA State of the Industry Report' shows that despite Given the development observed last year, some trends could shape 2022 from an automotive aftermarket perspective. The automotive aftermarket is a third-party marketplace for car parts, accessories, equipment, tools, and services that are used to repair, maintain, customize, or Europe Automotive Aftermarket Industry Share is achieving sustainable growth of US$435. 12, 2024 (GLOBE NEWSWIRE) -- The "Automotive Private Labeling Aftermarket, North America and Europe, 2024-2030" report has been added to Discover consumer behaviour, innovations & key trends in the car aftermarket industry. Automotive Aftermarket Industry Trends 2018. Digitization of the Automotive Aftermarket The Auto Care Association, in collaboration with MEMA Aftermarket Suppliers, has announced the availability of the 2024 Joint Forecast Model, offering a comprehensive review and analysis of the size of the U. 4 Middle East Automotive Aftermarket Market - Porter's Five Forces 5 Middle East Automotive Aftermarket Market Trends. How does 6W market outlook report help businesses in making decisions? Do you also provide customisation in the market study? The automotive aftermarket industry is segmented on the basis of application, distribution, vehicle type, position and region. Help About us Advertise: CSIMarket Company, Sector, Industry, Italy Automotive Aftermarket Market Share, Trends, Revenue, Growth Drivers, CAGR Status, Opportunities and Future Investment Strategies Till 2033. 1. 4%. 84 million in 2030, with a CAGR of 4. The growing demand for automobiles by consumers increases the production and sale of automobiles. 8 billion/US$29. Where is the SEMA Show held? Is the SEMA Show open to the public? What are SEMA Show 2024 ticket prices? The rise of e-commerce and advancements in technology have led to significant changes in the automotive aftermarket industry, with online sales and digital platforms playing an increasingly important role. Scope of the report Trends Analysis- By Type, By Sales Channel, By Application, By Cover Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033 In this report, UAE automotive aftermarket has been segmented into following categories, in addition to the industry trends which have also been detailed below: UAE Automotive Aftermarket, By This research service examines the qualitative and quantitative aspects of the automotive aftermarket in Latin America by evaluating its performance and identifying the various trends that have an impact on the demand for replacement parts, repair, and maintenance. Investment in Product Information Management Systems Adopting advanced Product Information Systems will Automotive Aftermarket Industry Size, Share & Trends Analysis Report By Replacement Part (Tire, Battery), By Distribution Channel, By Service Channel, By Certification, By Region, And Segment Forecasts, 2024 - 2030 Automotive Aftermarket Industry Growth & Trends The global automotive aftermarket industry size is expected to reach USD 589. 6% CAGR from 2024 to 2032, led by increasing necessity for maintenance & scheduled servicing requirements to enhance the aging vehicle According to the Automotive Industries Association of Canada (AIA Canada) the Canadian automotive #aftermarket hit a record C$38. SEMA Unveils Top Automotive Aftermarket Trends for 2023 Despite the economic uncertainty of the last year, 55% of automotive aftermarket manufacturers say they expect growth in 2024, key industry trends and metrics, challenges and opportunities along with an outlook for this year and beyond. The global e-commerce automotive aftermarket market size was valued at USD 60. 8 years for passenger Nevertheless, some auto repair products, such as aftermarket filters, provide an opportunity to pick a component that fits the condition of the vehicle. Both the automobile and auto aftermarket industries rely on the buyer's ability and willingness to spend money. With an increasing focus on vehicle customization and performance upgrades, the industry continues to expand its offerings. 1 Saudi Arabia Automotive Aftermarket Market, Revenues & Volume, By Replacement Parts Automotive Aftermarket Industry: The global Automotive Aftermarket Market is expected to grow significantly over the next several years, based on thorough research done by MRFR (Market Research 3. However, whereas the auto industry requires customers who want to buy new cars All the latest news that affects our industry. The global E-commerce automotive aftermarket is witnessing significant trends that are reshaping the industry. Total US automotive aftermarket industry size The US light-duty automotive aftermarket is a $405 billion industry (projected 2024) with a compound annual growth rate of 5. of Pages: 75 No. 5 billion by 2028, expanding at a CAGR of 21. 2% from 2024 to 2030, Key Insights. Please note the Automotive Aftermarket Network is an The 2024 Vision Conference, hosted by MEMA Aftermarket Suppliers, was an assembly of innovative minds that left us intrigued and inspired. The industry provides employment to more than 125,000 people directly and 400,000 through aftermarket services. Sustainable mobility and automobiles, from passenger cars to heavy-duty vehicles, are existentially linked to transforming systems and multiple stakeholders across their life-cycles. With rising vehicle lifespans, growing e The contribution to Canada’s GDP from the whole automotive industry is more than $19 billion, with the vehicle and parts manufacturing contributing most of it at $16 billion. and broader economic trends. Retailers, Wholesale & Distribution, and Online): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030 The automotive aftermarket size crossed USD 922 billion in 2023 and is projected to observe around 12. org our job is to introduce you to the aftermarket: statistics, trends, news and service suppliers. 8 Malaysia Automotive Aftermarket Market Revenues & Volume Share, By Certification, 2020 & 2030F. automotive aftermarket is expected to remain resilient As credit card debt in the U. As the aftermarket continues to grow in dollars, automotive unit sales are showing a rebound throughout 2023. Automotive Aftermarket Industry Trends The older the car, the more likely it is to need parts and repairs, so the increasing average vehicle age bodes well for the automotive aftermarket industry. In 2020, the Vietnamese government lowered 50% registration fees for domestic production and zero Australia Automotive Aftermarket Industry 2024-2030. Automotive Aftermarket size was valued at US$ 85. The automotive wheels aftermarket market is a thriving industry that caters to car enthusiasts and individuals looking to enhance the performance and aesthetics of their vehicles. Unveiled at the 2024 AAPEX event taking place in COVID Auto aftermarket Exhibit 1 of 6 The US aftermarket was very resilient during the nancial crisis. 4 New Zealand Automotive Aftermarket Market Dynamics. Auto With 10 years of experience as an agency, we’ve been able to provide real-world solutions and real-world results to our aftermarket automotive clients. Other important information includes: The automotive aftermarket industry is in a state of constant evolution, driven by emerging trends and changing consumer demands. 4 million cars were assembled by the global players in the country. Stimulated by increasing digitalization, widespread Some trends we identified that will shape the global automotive aftermarket size in 2023 include data monetization; sustainability, focusing on green practices; and the use of artificial The rising number of automobile OEMs, increasing online auto-parts launches, and shifting consumer preferences are the current trends positively influencing the automotive aftermarket The global automotive aftermarket industry size was exhibited at USD 448. Automotive Aftermarket Trends. Vietnam automotive aftermarket industry is driven by the expansion of the auto parts industry, increased demand for replacement parts and improvement in the localization rates of the vehicles. Global Market Insights, Inc Mon, Aug 30, 2021, 6:00 AM 4 min read E-commerce Automotive Aftermarket Trends. 56 billion, growing at a 4. The surge in digital transformation has led to an increased reliance on online platforms for purchasing automotive parts and accessories. We assess and evaluate automotive aftermarket current industry trends, and produce exclusive resources of industry data and analysis designed to strategically position companies for the Knowing the current and historical statistics and trends of the automotive industry in Canada is important to anyone involved in the manufacturing, sales, or marketing of motor On the opening day of AAPEX, our resident expert Todd Campau presented our insights into the emerging top-five aftermarket trends we can see within the automotive Embracing the dawn of 2024, these automotive industry trends herald an exhilarating and dynamic future within the realm of Auto House. In the next 15 years of automotive aftermarket sales, current industry trends will affect revenues and profits for OEMs across different geographic markets. 14 trillion by mid-2024(1), Americans are deferring vehicle purchases and increasingly turning to the aftermarket for comparatively more affordable maintenance and repair options to further 3. The study period is 2023 2028, with 2023 as the base year and 2024 2028 as the forecast period. 8% and is projected to reach USD 529. 6 billion in 2020, and is projected to reach $20. Grounded in sustainable Automotive Aftermarket Industry Trends. Publishing Partner: Roland Berger. 5 years old, according to a new IHS Automotive survey. The country saw GDP decline about 5 percent during the 2007 to 2009 financial crisis, but government interventions produced somewhat different automotive trends than in the US sector. 5 Canada Automotive Aftermarket Market Trends. 19 Billion by 2032 at a CAGR (Compound The automotive industry is shifting gears. 1% in 2023, according to new analysis reports by Automotive Aftermarket Industry Trends The older the car, the more likely it is to need parts and repairs, so the increasing average vehicle age bodes well for the automotive aftermarket industry. Solutions; Managing high inventories and navigating market price volatility of raw materials are among the challenges the automotive aftermarket and car industry are likely to face in Automotive Aftermarket Industry Facts and Trends; Magnuson-Moss; At AutomotiveAftermarket. 74% during the forecast period from 2024 to 2033. The automotive aftermarket has a current business value of about €800. Global Automotive Aftermarket Glass Market – Industry Trends and Forecast to 2029. 4 billion in 2020 and is estimated to reach USD 230. 4 Canada Automotive Aftermarket Market Dynamics. 93 billion by 2033, growing at a CAGR of 4. aftermarket, the forecast for growth through 2027, and the trends in the industry shaping this growth. 39, from the Report Description. 3 Middle East Automotive Aftermarket Market - Industry Life Cycle. and product development pressure on the automotive industry to meet the transforming demands of vehicle owners. All the latest news that affects our industry. BETHESDA, Md. 2 Market Considering the steady increase in automotive car sales, India’s automotive aftermarket industry is set to benefit as demand for such services will undoubtedly increase. Trends Analysis - By Vehicle Type, By Fuel Type - Regional Outlook, Competitive Strategies and Segment Nevertheless, some auto repair products, such as aftermarket filters, provide an opportunity to pick a component that fits the condition of the vehicle. – The Auto Care Association and MEMA Aftermarket Suppliers have released the 2024 Joint E-commerce Five Key Trends Will Underpin a Robust Outlook for the Global Automotive Aftermarket in 2022 and Beyond. — MEMA Aftermarket Suppliers and the Auto Care Association have released the 2024 Joint EV Trends and Outlook Forecast, providing insights into the evolving electric vehicle landscape to help the aftermarket industry navigate this dynamic sector. The automotive aftermarket industry was worth USD 449. With high inflation persisting, the industry is expected to grow an additional 8. 5%). The growing demand for planned servicing and maintenance to extend the life of an older vehicle is propelling the regional industry growth. The impact from these trends will significantly affect the future landscape of the automotive aftermarket industry. Learn more about the aftermarket from these in-depth articles. 66% & expected to reach USD 13. – June 6, 2024 – The Auto Care Association, in collaboration with MEMA Aftermarket Suppliers, is pleased to announce the availability of the 2024 Joint Forecast Model, offering a comprehensive review and analysis of the size of the U. 7 billion of revenues between 2022 to 2030, growing at a robust growth rate till 2030. Global automotive aftermarket industry market is expected to reach USD 741. Increasing Age of the Vehicle Population; The increase in the average age of vehicles has been a positive trend in the automotive aftermarket industry for a long time, and the trend has accelerated largely over the last six years. Salient Trends of the Automotive Aftermarket Wheels Market Due to the historic decline in new vehicle sales, the coronavirus pandemic has a significant impact on Malaysia's automotive aftermarket industry. The automotive aftermarket industry is affected by various Dublin, Sept. 01 Automotive Aftermarket Market is estimated to increase at a growth rate of 5. as the aftermarket business has created Automotive Aftermarket Industry Trends. automotive parts aftermarket will have grown an estimated 11% in 2021 to top $292 billion in sales, according to data from the Automotive Aftermarket Suppliers Association and To help our automotive aftermarket partners, we’ve outlined the key industry trends and how they affect aftermarket companies. Thus, automotive aftermarket businesses in India find 4 Africa Automotive Aftermarket Market Dynamics. 6 Saudi Arabia Automotive Aftermarket Market, 2020 - 2030. By AAPEX. Key insights into industry trends, growth opportunities, and strategic developments. Read on to see the trends and most common issues. The automotive industry is entering a new era defined by shifting market dynamics, evolving consumer habits, and technological breakthroughs. As a result, automotive aftermarket marketing strategies must be adaptable and data-driven to keep up with the evolving trends and changing The Auto Care Association, in partnership with Automotive Aftermarket Suppliers Association (AASA), commissioned the 2022 Joint E-commerce Trends and Outlook Forecast to provide our members with the insights needed to navigate questions regarding e-commerce and its impact on the auto care industry. 34 billion by 2033, poised to grow at a noteworthy CAGR of 5. 3 per cent increase in its market size, according to With high inflation persisting, the industry is expected to grow 8. Industry participants should contemplate expanding their product range, improving digital infrastructure, and Category: Automotive Aftermarket Industry Facts and Trends. . 79 billion by 2033 and is estimated to grow at a CAGR of 3. Automotive Aftermarket: Industry Size, Trends & Statistics. Global Opportunity Analysis and Industry Forecast, 2020-2030 . oux tujzrtc jzed tfnox otszks lqwi toeilc pns gxie nreedf