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Market Trends

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

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Automotive Aftermarket Trends

The growing digitization of distribution channels and the emergence of additional sales channels are prominently driving the automotive aftermarket industry share. The improvement in e-commerce platforms and supply chain services are providing potential opportunities for the increased revenue generation. The availability of numerous varieties of car models and accessories will drive the market size. The shifting consumer inclination toward vehicle customization and upgrading with additional accessories will positively impact product adoption. The increasing number of aftermarket service providers along with the penetration of new market entrants will significantly augment the product demand over the forecast timeframe.

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.