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Market Share

Report ID: GMI1166
Published Date: Jul 2024
Report Format: PDF

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Automotive Aftermarket Share

The automotive aftermarket industry share is highly competitive owing to the presence of major players including Bridgestone Corporation, Continental AG, Magna International, Inc., Robert Bosch GmbH, Toyota Motor Corporation, and ZF Friedrichshafen AG. Product design and configuration according to the changing vehicle part regulations along with the increasing distribution networks are the major areas for industry players that will drive the market growth.

The industry is going to witness high competition owing to the adoption of new strategies including long-term contracts, partnerships, and new product developments to gain high visibility in the market. Competitive pricing is another detrimental factor affecting the success of the brand in the global market. The cost optimization initiatives adopted by manufacturers include continuously optimizing and upgrading their products, expanding their distribution network, and conducting trials.

Product innovations and portfolio expansion are the key strategies for industry players to enhance their market share over the forecast period. Industry participants are constantly focusing on enhancing their production facilities, upgrading their solutions, and investing in new production plants to enhance their market presence.

Automotive Aftermarket Companies

Top companies operating in the automotive aftermarket industry include:

Lear Corporation
BASF SE
Yazaki Corporation
Cooper Tire & Rubber Company
Alco Filters Ltd.
Continental AG
Bridgestone Corporation
Delphi Technologies
Denso Corporation
Hella Gmbh & Co. KGaA
3M
Akebono Brake Corporation
Federal-Mogul Holdings LLC.
Shandong Zhengnuo Group Co., Ltd.
ASIMCO
ACDelco Corporation
Magneti Marelli
Robert Bosch GmbH
Aisin Seiki
Hyundai Mobis Co Ltd.
Johnson Controls
Toyota Motor Corporation
Magna International Inc.
ZF Friedrichshafen AG

Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

Global automotive aftermarket industry size achieved USD 922 billion in 2023 and will witness 12.6% CAGR from 2024 to 2032, led by increasing necessity for maintenance & scheduled servicing requirements to enhance the aging vehicle’s lifetime.

The ICE segment will record USD 789 billion by 2032, due to the large existing vehicle population and the extensive network of repair shops.

Europe market will grow at 11% CAGR during 2024 to 2032, driven by robust industrialization and technological advancements.

Delphi Technologies, Denso Corporation, Hella Gmbh & Co. KGaA, 3M, Akebono Brake Corporation, Federal-Mogul Holdings LLC., Shandong Zhengnuo Group Co., Ltd, ASIMCO, ACDelco Corporation, Magneti Marelli, and Robert Bosch GmbH among others.