ASEAN Automotive After Market Size, Scope, Manufacturing Cost Analysis, And Strategies

1. ASEAN Automotive After Market Size, Scope, Manufacturing Cost Analysis, And Strategies Market Overview The automotive aftermarket is the secondary market of the automotive industry which deals with manufacturing, remanufacturing, distribution, retailing, and installation of vehicle parts, equipment, chemicals, and accessories. This is done after the sale of the automobile by the original equipment manufacturer (OEM) to the consumer. The automotive aftermarket deals with oil and lubricants, batteries, tires, filters, starters and alternators, coatings and paint consumables, exhaust components, spark plugs, crash parts, etc. Moreover, there are interior and exterior accessories including audio/video devices, steering wheels, parking brake handles, shift boots, grills, headlight covers, front & rear guards, mirrors, etc. Consumers can repair their vehicles on their own with the DIY segments or can take the vehicle to professional repair facilities. Get HOLISTIC Request Sample Copy Of This Business Report: https://www.coherentmarketinsights.com/insight/request-sample/3604 The ASEAN automotive aftermarket was accounted for US$ 25,250.2 Mn in 2019 is expected to exhibit a CAGR of 9.7% during the forecast period. Market Dynamics- Drivers Growing disposable income and rise in the vehicle part is expected to drive growth of the ASEAN automotive aftermarket during the forecast period Increasing vehicle demand and rapidly rising urban population density are expected to boost ASEAN automotive production output. Disposable income in ASEA has increased significantly and as a result of this, consumers’ expenditure on automotive parts is increasing thereby boosting automotive sales. This, in turn, has led to increasing vehicle parc and thus a rise in demand for aftermarket services. Moreover, proactive government policies such as First Car Scheme policy (2012-2013) by Thailand government under which first time car buyers are provided with tax rebate of up to US$ 3,250. This led to a 33% increase in vehicle sales in Thailand in 2012-2013. According to Organisation Internationale des Constructeurs d’Automobiles (OICA), the sales of passenger cars in Singapore increased from 17,197 units in 2012 to 43,423 units in 2016 while that in Philippines the sales rose from 21,860 units in 2012 to 62,560 units in 2016. Therefore, these factors are expected to drive the market growth in the near future. Poor quality of road infrastructure is expected to propel the ASEAN automotive aftermarket growth over the forecast period

2. The road infrastructure quality in emerging economies from ASEAN is not adequate. Poor quality of road infrastructure leaves a negative impact on the life and parts of vehicle. A pothole can cause a severe impact that can lead to damaging of wheel rim and tires. Moreover, pits on the road can lead to premature wears and tears on struts and shocks, steering system, suspension damage, misalignment, exhaust system damage, or damage to the engine. Some countries in ASEAN have extremely poor road infrastructure quality, which leads to more wear and tear thereby requiring the need for replacement of parts. Thus, such factors are expected to propel the ASEAN automotive aftermarket growth over the forecast period. Indonesia country dominated the ASEAN automotive aftermarket in 2019, accounting for 34.5% share in terms of value, followed by Thailand and Malaysia, respectively Market Opportunities Increasing demand for used-cars in Thailand can provide lucrative growth opportunities The number of warranty vehicles in Thailand is expected to increase, owing to large inventory created by the increase in sales of vehicles in 2012 under the first scheme policy. According to Coherent Market Insights’ analysis, while Bangkok is the most lucrative market for independent aftermarket services, the demand for North-Eastern regions is expected to increase in the near future. Moreover, according to a survey conducted in Thailand, the used car dealership owners are pairing up with finance companies to grant loans hence there is expected to substantial increase in the Thailand aftermarket. Major business opportunity for locally-owned repair shops Majority of local repair shops do not offer a complete range of repair and maintenance services. Thus, shop owners can follow a competitive strategy of providing specialist service or they can increase number of services they are providing. Moreover, small shop owners can enter into partnerships with fleet operators and leasing firms to provide lucrative replacement and maintenance services at lower prices. According to Coherent Market Insights’ analysis, there are over 5,000 independent repair shops in Thailand. Market Taxonomy This report segments the ASEAN automotive aftermarket on the basis of by category type, by vehicle type, and country. On the basis of category type, the ASEAN automotive aftermarket is segmented into accessories (interior and exterior),parts (lubricants ,tires, batteries ,wear & tear parts ,filters ,collision body ,starters & alternators, lighting exhaust components and spark plugs and services(general automotive repairs and automotive transmission repairs). On the basis of vehicle type, ASEAN automotive aftermarket is segmented into passenger car and commercial vehicles. On the basis of country, ASEAN automotive aftermarket is segmented into Malaysia, Indonesia, Philippines, Vietnam, Singapore, Thailand and Rest of ASEAN. Key features of the study:

3. •This report provides an in-depth analysis of the ASEAN automotive aftermarket and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year •It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market •This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players •It profiles leading players in the ASEAN automotive aftermarket based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans •These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers. •Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics •The ASEAN automotive aftermarket report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts •Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the ASEAN automotive aftermarket. Detailed Segmentation: ASEAN Automotive Aftermarket, By Category Type •Accessories •Interior •Exterior •Parts •Lubricants •Tires •Batteries •Wear & Tear Parts •Filters •Collision Body •Starters & Alternators •Lighting •Exhaust Components •Spark Plugs •Services •General Automotive Repairs •Automotive Transmission Repairs

4. ASEAN Automotive Aftermarket , By Vehicle Type •Passenger Cars •Commercial Vehicles Get HOLISTIC Request Customization Of This Business Report: https://www.coherentmarketinsights.com/insight/request-customization/3604 Competitive Section Key players operating in the ASEAN automotive aftermarket are Bridgestone Corporation, ACDelco, Denso Corporation, Aisin Seiki Co., Ltd., Hella KGaA Hueck & Co., BorgWarner Inc., Robert Bosch GmbH, Continental AG, Magneti Marelli SpA, Delphi Automotive PLC, and Faurecia SA. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Name: Mr. Raj Shah Phone: US +12067016702 / UK +4402081334027 Email: sales@coherentmarketinsights.com Visit Our Blogs: https://blog.coherentmarketinsights.com