Market Overview:
The global passenger car aftermarket market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for passenger cars, rising income levels, and growing urbanization. In terms of type, the wear and tear parts segment is expected to hold the largest share of the global passenger car aftermarket market during the forecast period. This can be attributed to factors such as increasing vehicle ownership and replacement demand for worn-out parts.
Product Definition:
A passenger car aftermarket is a business that provides parts and services to motorists who want to customize or improve the performance of their cars. The importance of the passenger car aftermarket is that it offers drivers a way to personalize their vehicles and make them more suited to their individual needs. It can also improve the safety and performance of cars, making them better equipped for difficult terrain or hazardous conditions.
Wear and Tear Parts:
Wear and tear parts are the components that get damaged due to usage and tear. The wear and tear part of an automobile is a normal process, which occurs in every component due to friction between different materials. In automobiles, wear & tear parts are not covered under the warranty; therefore these parts have to be replaced after a certain period of time as per industry standards or when they get damaged.
Crash Relevant Parts:
The crash relevant parts are the essential components that get damaged in a car accident. The manufacturers of these parts have designed them keeping in mind the safety of vehicle occupants as well as pedestrians. These are manufactured from high-quality materials and undergo rigorous testing before being used in any vehicle.
These days, there is an increased focus on passenger safety and this has led to several innovations being made to vehicles so that they provide better protection for their passengers, especially during accidents.
Application Insights:
The passenger car aftermarket can be segmented into four applications, namely, the sedan application, the SUV application, the MPV application and other type of vehicles. The SUV segment dominated the market in 2017 with a share of over 40%, owing to its higher utility value as a family vehicle for transport of kids and goods. Moreover, demand for sport utility vehicles is also growing in emerging economies due to increasing disposable income levels along with rising per capita ownership of smartphones that facilitate easy payment through various mobile wallets.
The MPV segment is expected to witness significant growth over forecast period owing to its increased utilization as a mini bus or taxi service by companies or organizations transporting passengers from Point A to Point B. In addition, demand for such types of vehicles has also been growing due largely on their ability provide flexibility in terms of seating capacity (passenger count) and cargo space (volume).
Regional Analysis:
Asia Pacific dominated the global passenger car aftermarket with a market share of over 35% in 2017. This is attributed to increasing automobile production in countries, such as India, China, and Japan. The region is expected to witness significant growth rate owing to rising disposable income coupled with growing population.
The demand for passenger cars was high in North America as it forms a crucial segment of the automotive industry across the globe. However, due to economic recession and political instability witnessed in Mexico since 2014; henceforth automotive sales declined drastically thereby affecting market growth for second-hand vehicles negatively.
Europe was estimated at USD X billion in 2017.
Growth Factors:
- Increasing demand for passenger cars: The global demand for passenger cars is expected to grow at a CAGR of around 4% during the forecast period. This growth can be attributed to the increasing population and rising income levels in developing countries.
- Technological advancements: The advancement in automotive technologies, such as electric vehicles and autonomous driving, is expected to fuel the growth of the passenger car aftermarket market during the forecast period.
- Growing vehicle parc: The global vehicle parc is projected to grow at a CAGR of around 2% during the forecast period, owing to increasing urbanization and rising disposable income levels across emerging economies. This would result in an increase in demand for spare parts and accessories for passenger cars, thereby fueling the growth of this market over the next few years.
- Rising consumer awareness about safety features: There has been a significant rise in consumer awareness about safety features offered by different brands of passenger cars over recent years; this is likely to boost sales of spare parts and accessories for these vehicles over the next few years as well.. 5) Increasing number o
Scope Of The Report
Report Attributes
Report Details
Report Title
Passenger Car Aftermarket Market Research Report
By Type
Wear and Tear Parts, Crash Relevant Parts, Maintenance Service, Tire Service, Other
By Application
Sedan, SUV, MPV
By Companies
Bridgestone, Michelin, Autozone, Genuine Parts Company, Goodyear, Continental, Advance Auto Parts, O'Reilly Auto Parts, Bosch, Tenneco, Belron International, Denso, Driven Brands, China Grand Automotive, Zhongsheng Group, 3M Company, Yongda Group, Monro, Delphi, Tuhu Auto
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
204
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.
Global Passenger Car Aftermarket Market Report Segments:
The global Passenger Car Aftermarket market is segmented on the basis of:
Types
Wear and Tear Parts, Crash Relevant Parts, Maintenance Service, Tire Service, 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
Sedan, SUV, MPV
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:
- Bridgestone
- Michelin
- Autozone
- Genuine Parts Company
- Goodyear
- Continental
- Advance Auto Parts
- O'Reilly Auto Parts
- Bosch
- Tenneco
- Belron International
- Denso
- Driven Brands
- China Grand Automotive
- Zhongsheng Group
- 3M Company
- Yongda Group
- Monro
- Delphi
- Tuhu Auto
Highlights of The Passenger Car 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:
- Wear and Tear Parts
- Crash Relevant Parts
- Maintenance Service
- Tire Service
- Other
- By Application:
- Sedan
- SUV
- MPV
- 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 Passenger Car 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
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Passenger car aftermarket is the industry that supplies replacement parts and accessories for cars. This includes items such as headlights, taillights, spoilers, rims, tires and more.
Some of the major companies in the passenger car aftermarket market are Bridgestone, Michelin, Autozone, Genuine Parts Company, Goodyear, Continental, Advance Auto Parts, O'Reilly Auto Parts, Bosch, Tenneco, Belron International, Denso, Driven Brands, China Grand Automotive, Zhongsheng Group, 3M Company, Yongda Group, Monro, Delphi, Tuhu Auto.
The passenger car aftermarket market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Passenger Car 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 Passenger Car Aftermarket Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Passenger Car 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 Passenger Car 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 Passenger Car Aftermarket Market Size & Forecast, 2018-2028
4.5.1 Passenger Car Aftermarket Market Size and Y-o-Y Growth
4.5.2 Passenger Car Aftermarket Market Absolute $ Opportunity
Chapter 5 Global Passenger Car 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 Passenger Car Aftermarket Market Size Forecast by Type
5.2.1 Wear and Tear Parts
5.2.2 Crash Relevant Parts
5.2.3 Maintenance Service
5.2.4 Tire Service
5.2.5 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Passenger Car 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 Passenger Car Aftermarket Market Size Forecast by Applications
6.2.1 Sedan
6.2.2 SUV
6.2.3 MPV
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Passenger Car 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 Passenger Car 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 Passenger Car Aftermarket Analysis and Forecast
9.1 Introduction
9.2 North America Passenger Car 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 Passenger Car Aftermarket Market Size Forecast by Type
9.6.1 Wear and Tear Parts
9.6.2 Crash Relevant Parts
9.6.3 Maintenance Service
9.6.4 Tire Service
9.6.5 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 Passenger Car Aftermarket Market Size Forecast by Applications
9.10.1 Sedan
9.10.2 SUV
9.10.3 MPV
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 Passenger Car Aftermarket Analysis and Forecast
10.1 Introduction
10.2 Europe Passenger Car 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 Passenger Car Aftermarket Market Size Forecast by Type
10.6.1 Wear and Tear Parts
10.6.2 Crash Relevant Parts
10.6.3 Maintenance Service
10.6.4 Tire Service
10.6.5 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 Passenger Car Aftermarket Market Size Forecast by Applications
10.10.1 Sedan
10.10.2 SUV
10.10.3 MPV
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 Passenger Car Aftermarket Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Passenger Car 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 Passenger Car Aftermarket Market Size Forecast by Type
11.6.1 Wear and Tear Parts
11.6.2 Crash Relevant Parts
11.6.3 Maintenance Service
11.6.4 Tire Service
11.6.5 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 Passenger Car Aftermarket Market Size Forecast by Applications
11.10.1 Sedan
11.10.2 SUV
11.10.3 MPV
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 Passenger Car Aftermarket Analysis and Forecast
12.1 Introduction
12.2 Latin America Passenger Car 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 Passenger Car Aftermarket Market Size Forecast by Type
12.6.1 Wear and Tear Parts
12.6.2 Crash Relevant Parts
12.6.3 Maintenance Service
12.6.4 Tire Service
12.6.5 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 Passenger Car Aftermarket Market Size Forecast by Applications
12.10.1 Sedan
12.10.2 SUV
12.10.3 MPV
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) Passenger Car Aftermarket Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Passenger Car 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) Passenger Car Aftermarket Market Size Forecast by Type
13.6.1 Wear and Tear Parts
13.6.2 Crash Relevant Parts
13.6.3 Maintenance Service
13.6.4 Tire Service
13.6.5 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) Passenger Car Aftermarket Market Size Forecast by Applications
13.10.1 Sedan
13.10.2 SUV
13.10.3 MPV
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 Passenger Car Aftermarket Market: Competitive Dashboard
14.2 Global Passenger Car Aftermarket Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bridgestone
14.3.2 Michelin
14.3.3 Autozone
14.3.4 Genuine Parts Company
14.3.5 Goodyear
14.3.6 Continental
14.3.7 Advance Auto Parts
14.3.8 O'Reilly Auto Parts
14.3.9 Bosch
14.3.10 Tenneco
14.3.11 Belron International
14.3.12 Denso
14.3.13 Driven Brands
14.3.14 China Grand Automotive
14.3.15 Zhongsheng Group
14.3.16 3M Company
14.3.17 Yongda Group
14.3.18 Monro
14.3.19 Delphi
14.3.20 Tuhu Auto
