Automotive Aftermarket Is Estimated To Grow Significantly Owing To An Increase Demand For Lightweight Vehicles Till 2025: Grand View Research, Inc.

March 11 09:42 2017

Grand View Research, Inc. – Market Research And Consulting.
According to new report by Grand View Research, The global automotive aftermarket size was valued at USD 318.02 billion in 2015 and is presumed to gain traction over the forecast period.The global automotive aftermarket is expected to witness tremendous growth due to an upsurge in the number of vehicle collisions along with the inclination of owners toward repair of their automobiles.

The global automotive aftermarket is expected to reach USD 486.36 billion by 2025, according to a new report by Grand View Research, Inc. Digitalization of automotive repair & component sales complemented by advanced technology incorporations in the automobile aftermarket component manufacturing is expected to boost the market growth. The surging reception of semi-autonomous, electric vehicles, and hybrid & autonomous cars, in the years to come, is further expected to bolster the new component market growth. The market can be categorized, based on replacement parts, into tire, battery, brake parts, filters, body parts, lighting & electronic components, wheels, and exhaust components.

The increasing vehicle penetration is driven by the overall improvement of lifestyle in the developing countries, such as India and Brazil, and is expected to drive the growth of the automobile industry in the region. Similar surges in the automotive manufacturing sector across various regions along with the increasing stringent emissions norms are expected to drive the growth of automotive aftermarket component sales over the forecast period.

The Asia-Pacific regional market is expected to be the fastest growing market for automotive collision repair services over the forecast period, owing to its developing living standards and high vehicle production. It is also anticipated to be the fastest-growing market in automobile production. With the growing penetration and acceptance of gas and hybrid electric cars, specialized repair centers dedicated toward repair of particular vehicles are expected to increase.

The global automotive aftermarket is expected to witness tremendous growth due to an upsurge in the number of vehicle collisions along with the inclination of owners toward repair of their automobiles.

Full research report on automotive aftermarket analysis: http://www.grandviewresearch.com/industry-analysis/aftermarket-automotive-parts-market

U.S. automotive aftermarket by replacement part, 2014 – 2025 (USD Billion)

 

U.S. automotive aftermarket by replacement part, 2014 - 2025 (USD Billion)

Further key findings from the report suggest:

  • The automotive aftermarket is estimated to grow significantly over the forecast period, owing to an increase in the number of lightweight vehicles coupled with the increasing age of the light vehicle fleet

  • North America has a higher technology adoption rate, which is anticipated to result in faster and higher adoption of hybrid electric automobiles in the region as compared to the other geographies

  • The global automotive aftermarket is anticipated to witness a phase change attributable to the growing proportion of specialized automotive collision repair centers that are dedicated toward serving specific vehicles such as alternate fuel powered vehicles

  • The key industry participants include Magneti Marelli S.p.A., Continental AG, 3M Company, Federal-Mogul Corporation, Delphi Automotive PLC, Robert Bosch GmbH, and Denso Corporation.

View more reports of this category by Grand View Research at: http://www.grandviewresearch.com/industry/automotive-and-transportation

Automotive aftermarket by replacement part, 2015

Automotive aftermarket by replacement part, 2015

 

Grand View Research has segmented the automotive aftermarket based on replacement part and region:

Automotive Aftermarket Replacement Part Outlook (Revenue, USD Billion, 2014 – 2025)

  • Tire

  • Battery

  • Brake parts

  • Filters

  • Body parts

  • Lighting & Electronic components

  • Wheels

  • Exhaust components

  • Others

Automotive Aftermarket Regional Outlook (Revenue, USD Billion, 2014 – 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • China

    • India

    • Japan

  • South America

    • Brazil

  • The Middle East & Africa

Read Our Blog: http://www.grandviewresearch.com/blog/automotive-aftermarket-industry-size-share 

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

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