Market Overview:
The global automotive spare parts aftermarket is estimated to be valued at US$ 527.8 Bn by 2030 and is projected to register a CAGR of 4.5% during the forecast period (2018-2030). The body parts segment is expected to account for the highest market share in 2018, followed by lighting & electronic, interior components, powertrain and chassis parts, battery and other segments. Passenger car application segment is expected to dominate the global automotive spare parts aftermarket with a market share of more than 60% in 2018. However, commercial vehicle application segment is projected to grow at a higher CAGR during the forecast period owing to increasing demand for commercial vehicles across the globe. North America dominates the global automotive spare parts aftermarket with around one-third market share in terms of revenue contribution in 2018; however, Asia Pacific region is anticipated to grow at highest CAGR over the forecast period owing increasing demand from countries such as China and India.
Product Definition:
The automotive spare parts aftermarket is the market for the sale of replacement parts and accessories for automobiles and trucks. The automotive spare parts aftermarket is a multibillion-dollar industry that supplies both original equipment manufacturer (OEM) and replacement components to consumers, repair shops, and distributors.
Body Parts:
Body parts are the internal organs of a living organism that are necessary for its survival. The body parts market includes all types of spare parts such as bones, blood vessels, nerves, tendons and muscles among others. The growth factor in this market is the need to replace old or damaged vehicle components with new ones due to wear & tear or because they have been accidently damaged.
The global aftermarket consists of two major segments: OEMs (Original Equipment Manufacturers).
Lighting & Electronic:
The global Lighting and Electronic and its usage in Automotive Spare Parts Aftermarket market size was valued at USD 4.5 billion in 2016. The increasing demand for LED lighting solutions is expected to be a key factor driving the market growth over the forecast period.
Automotive aftermarket parts are manufactured by original equipment manufacturers (OEMs) as well as non-OEMs, which are then branded.
Application Insights:
The passenger car segment accounted for the largest market share of over 60.0% in 2017 and is expected to continue its dominance over the forecast period. The growing demand for passenger cars due to rising disposable income levels, especially in emerging markets such as China, India and Brazil is expected to have a positive impact on industry growth. Furthermore, increasing production capacities by major players are anticipated to further fuel the industry growth over the forecast period.
Commercial vehicle parts aftermarket also holds significant market share owing to high product demand across various applications including trucks, buses and coaches among others.
Regional Analysis:
The Asia Pacific region accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The regional growth can be attributed to rising automotive production in countries, such as China, India, Japan, and South Korea. Moreover, increasing vehicle sales coupled with growing consumer disposable income levels will drive the market further.
Europe was estimated to be the second-largest regional segment followed by North America owing to high demand for premium quality vehicles on account of increased safety standards and stringent government regulations pertaining to fuel emissions in countries like U.S., Canada and Mexico along with other developed nations including Germany Italy Spain UK France Russia Netherlands Belgium Sweden Norway Finland Estonia Greece Croatia & Poland among others which are anticipated would boost industry growth over next eight years till 2030 time frame.
Growth Factors:
- Increasing demand for automobiles: The global automobile production is expected to grow at a CAGR of 3.5% during the forecast period, owing to the increasing disposable income and urbanization in emerging economies. This will result in an increase in the demand for automotive spare parts, which will subsequently drive the growth of the automotive spare parts aftermarket market.
- Technological advancements: The advent of new technologies has led to increased complexity in automotive systems, which has resulted in an increase in component failures and repairs/replacements needs. This is expected to create opportunities for players operating in the automotive spare parts aftermarket market.
- Growing vehicle parc: The global vehicle parc is projected to grow at a CAGR of 2% during 2018-2023, owing to rising disposable income and improving infrastructure across emerging economies such as China and India .This will result in an increasein demand for replacementpartsand servicesfor vehicles, thereby propellingthe growthoftheautomotivesparepartsaftermarketmarketduringtheforecastperiod2018-2023
Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Spare Parts Aftermarket Market Research Report
By Type
Body Parts, Lighting & Electronic, Interior Components, Powertrain and Chassis Parts, Battery, Other
By Application
Passenger Car, Commercial Vehicle
By Companies
Bosch, Continental, Mahler, Tenneco, ZF, Alpine Electronics, Pioneer Corporation, DENSO, Hella, KYB, SMP, SKF, Delphi
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
229
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Automotive Spare Parts Aftermarket Market Report Segments:
The global Automotive Spare Parts Aftermarket market is segmented on the basis of:
Types
Body Parts, Lighting & Electronic, Interior Components, Powertrain and Chassis Parts, Battery, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Car, Commercial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Bosch
- Continental
- Mahler
- Tenneco
- ZF
- Alpine Electronics
- Pioneer Corporation
- DENSO
- Hella
- KYB
- SMP
- SKF
- Delphi
Highlights of The Automotive Spare Parts Aftermarket Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Body Parts
- Lighting & Electronic
- Interior Components
- Powertrain and Chassis Parts
- Battery
- Other
- By Application:
- Passenger Car
- Commercial Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Automotive Spare Parts Aftermarket Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Automotive spare parts aftermarket is the business of selling replacement parts and accessories for cars, trucks, and other vehicles. This includes items like engine components, transmissions, brakes, tires, and more.
Some of the key players operating in the automotive spare parts aftermarket market are Bosch, Continental, Mahler, Tenneco, ZF, Alpine Electronics, Pioneer Corporation, DENSO, Hella, KYB, SMP, SKF, Delphi.
The automotive spare parts aftermarket market is expected to register a CAGR of 4.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automotive Spare Parts Aftermarket Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Automotive Spare Parts Aftermarket Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Automotive Spare Parts Aftermarket Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Automotive Spare Parts Aftermarket Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Automotive Spare Parts Aftermarket Market Size & Forecast, 2018-2028
4.5.1 Automotive Spare Parts Aftermarket Market Size and Y-o-Y Growth
4.5.2 Automotive Spare Parts Aftermarket Market Absolute $ Opportunity
Chapter 5 Global Automotive Spare Parts Aftermarket Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Automotive Spare Parts Aftermarket Market Size Forecast by Type
5.2.1 Body Parts
5.2.2 Lighting & Electronic
5.2.3 Interior Components
5.2.4 Powertrain and Chassis Parts
5.2.5 Battery
5.2.6 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Automotive Spare Parts Aftermarket Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Automotive Spare Parts Aftermarket Market Size Forecast by Applications
6.2.1 Passenger Car
6.2.2 Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Automotive Spare Parts Aftermarket Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Automotive Spare Parts Aftermarket Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Automotive Spare Parts Aftermarket Analysis and Forecast
9.1 Introduction
9.2 North America Automotive Spare Parts Aftermarket Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Automotive Spare Parts Aftermarket Market Size Forecast by Type
9.6.1 Body Parts
9.6.2 Lighting & Electronic
9.6.3 Interior Components
9.6.4 Powertrain and Chassis Parts
9.6.5 Battery
9.6.6 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Automotive Spare Parts Aftermarket Market Size Forecast by Applications
9.10.1 Passenger Car
9.10.2 Commercial Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Automotive Spare Parts Aftermarket Analysis and Forecast
10.1 Introduction
10.2 Europe Automotive Spare Parts Aftermarket Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Automotive Spare Parts Aftermarket Market Size Forecast by Type
10.6.1 Body Parts
10.6.2 Lighting & Electronic
10.6.3 Interior Components
10.6.4 Powertrain and Chassis Parts
10.6.5 Battery
10.6.6 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Automotive Spare Parts Aftermarket Market Size Forecast by Applications
10.10.1 Passenger Car
10.10.2 Commercial Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Automotive Spare Parts Aftermarket Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Automotive Spare Parts Aftermarket Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Automotive Spare Parts Aftermarket Market Size Forecast by Type
11.6.1 Body Parts
11.6.2 Lighting & Electronic
11.6.3 Interior Components
11.6.4 Powertrain and Chassis Parts
11.6.5 Battery
11.6.6 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Automotive Spare Parts Aftermarket Market Size Forecast by Applications
11.10.1 Passenger Car
11.10.2 Commercial Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Automotive Spare Parts Aftermarket Analysis and Forecast
12.1 Introduction
12.2 Latin America Automotive Spare Parts Aftermarket Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Automotive Spare Parts Aftermarket Market Size Forecast by Type
12.6.1 Body Parts
12.6.2 Lighting & Electronic
12.6.3 Interior Components
12.6.4 Powertrain and Chassis Parts
12.6.5 Battery
12.6.6 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Automotive Spare Parts Aftermarket Market Size Forecast by Applications
12.10.1 Passenger Car
12.10.2 Commercial Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Automotive Spare Parts Aftermarket Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Automotive Spare Parts Aftermarket Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Automotive Spare Parts Aftermarket Market Size Forecast by Type
13.6.1 Body Parts
13.6.2 Lighting & Electronic
13.6.3 Interior Components
13.6.4 Powertrain and Chassis Parts
13.6.5 Battery
13.6.6 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Automotive Spare Parts Aftermarket Market Size Forecast by Applications
13.10.1 Passenger Car
13.10.2 Commercial Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Automotive Spare Parts Aftermarket Market: Competitive Dashboard
14.2 Global Automotive Spare Parts Aftermarket Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bosch
14.3.2 Continental
14.3.3 Mahler
14.3.4 Tenneco
14.3.5 ZF
14.3.6 Alpine Electronics
14.3.7 Pioneer Corporation
14.3.8 DENSO
14.3.9 Hella
14.3.10 KYB
14.3.11 SMP
14.3.12 SKF
14.3.13 Delphi
