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Growing Global Vehicle Fleet & Rising Average Age of Vehicles Drive the Automotive Aftermarket


Published: February 2017

REPORT STATISTICS


  • Code: MCP-1036
  • Pages: 756
  • Tables: 162
  • Companies: 393


AUTOMOTIVE AFTERMARKET: A RESEARCH BRIEF

The global Automotive Aftermarket is projected to exceed US$1.0 trillion by 2022, driven by increasing average age of vehicles and expanding vehicle parc. The growing number of accidents worldwide coupled with the availability of lucrative insurance deals is poised to spur demand for aftermarket crash parts. Other remunerative product markets include tires, windshield wiper blades, engine parts, and spark plugs, among others. The United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 8.3% over the analysis period led by factors such as stable economic growth; rising standard of living; growing per capita ownership of cars as a result of aspirational lifestyle goals of the expanding base of middle class population; growing awareness over the importance of preventive maintenance; establishment of several new aftermarket service facilities; inadequate and deteriorating road conditions that exacerbate vehicle wear and tear and the ensuing higher frequency of part and component replacements. 

    Summary of Findings

  • Growing Frequency of Part Replacement as a Result of Poor Road Infrastructure in Developing Markets and Preventive Maintenance in Developed Markets to Spur Market Growth
  • Development of Aftermarket Vehicle Service Networks to Drive Demand Growth in the Market
  • Growing Customer Preference for Remanufactured Automobile Parts From a Financial and Environmental Perspective to Boost Market Growth Opportunities
  • Projected Rise in New Car Sales and Increase in Demand for Pre-Owned Cars and Auto Leasing to Spur Sales of Aftermarket Products
  • Rise of the Do-it-Yourself Customers Spurs Demand for Aftermarket Automotive Appearance Products

    Timeline for Analysis

  • Market Estimates and Forecasts for 2015-2022
  • Historic Review 2009-2014

    Geographic Markets Analyzed

  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico and Rest of Latin America)

    Market Segmentation & Classification

  • Product Segments:
    • Mechanical Products, Electrical Products, Electronic Products, Exterior and Structural Products, Motor Oil, Fluids and Additives, and Appearance Chemicals

MAJOR PLAYERS

  • Autoliv, Inc.
  • 3M Company
  • ACDElco
  • Akebono Brake Corporation
  • American Axle & Manufacturing, Inc.
  • ASIMCO Technologies Limited
  • Bridgestone Corporation
  • Continental AG

KEY RESEARCH DELIVERABLES

  • Review of Industry/Market Structure
  • Analysis of Trends & Drivers
  • Insights on Macro Market Scenarios
  • Market SWOT Analysis
  • Latent Demand Forecasts & Projections
  • Comprehensive Geographic Market Analysis
  • Presentation Ready Facts & Statistical Data Findings
  • Coverage of Major/Niche Players, Market Shares & Competition
  • Coverage of major Company/Technology/Product/Financial Stories
  • Extensive Product/Service/End-Use/Technology Coverage Where Applicable