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Exploring the Thriving Automotive Parts Aftermarket for High-Quality, Affordable

The average lifespan of automobiles has increased significantly due to advancements in material and innovation used in vehicle production. The consistency of car quality has essentially increased during the previous decade. Customers are increasingly keeping older vehicles as second vehicles rather than swapping or scrapping them.

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Exploring the Thriving Automotive Parts Aftermarket for High-Quality, Affordable

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  1. Automotive Parts Aftermarket ©2023 Persistence Market Research, All Rights Reserved

  2. Automotive Parts Aftermarket Analysis The automotive parts aftermarket is expected to generate $548 billion in revenue by 2022, according to Persistence Market Research. With the top 5 market players controlling a sizable portion of the automotive parts aftermarket in 2022, the demand for automotive parts will increase. The entire Automotive Parts Aftermarket is anticipated to increase at a CAGR of 5.5% from 2023 to 2033, reaching US$ 984 Billion. The report published on Automotive Parts Aftermarket is a comprehensive analysis that includes the key parameters and indicators critical in understanding the market. The data from the years 2023 to 2033 has been used to present the market status and size. The study also covers the overall market valuation along with the CAGR for the forecast period. The introductory chapter presents an overview of Automotive Parts Aftermarket Market along with the product definition and market scope. The report also analyzes consumer trends regarding the products along with the industry development trends. To remain ‘ahead’ of your competitors, request for a Sample @ https://www.persistencemarketresearch.com/samples/32832 Automotive Parts Aftermarket ©2023 Persistence Market Research, All Rights Reserved

  3. Key Takeaways from Market Study • At a CAGR of 6.7%, electrical parts is projected to be the fastest-growing product segment through 2031. • Tires are expected to have the highest share in the product segment, with nearly 42% market share by 2031. • By vehicle, passenger cars are projected to be the segment leader with a market share of more than 64%. • By Region, Europe is projected to have the highest share in the global market accounting to more than 34%. Germany is expected to hold nearly 29% of the European market share by 2031. • The market in the Middle East & Africa region is projected to expand at the fastest CAGR of 6.2% • The U.S. is projected to register the highest absolute $ opportunity of more than US$ 44 Bn from 2021 to 2031. Automotive Parts Aftermarket ©2023 Persistence Market Research, All Rights Reserved

  4. Key Players • Robert Bosch GmbH • ZF Friedrichshafen AG • HellaKGaAHueck & Co. • NGK Spark Plug • Exide Technologies • Gabriel India Limited • Hitachi Astemo Ltd. • KYB Corporation • Tenneco Inc. • Denso Corporation • Magna International • Continental AG • Valeo SA • Bridgestone • Michelin • Goodyear • Pirelli • MahleGmbH Automotive Parts Aftermarket ©2023 Persistence Market Research, All Rights Reserved

  5. Key Segments in Automotive Parts Aftermarket Industry Research • By Vehicle: • Passenger Cars • Light Commercial Vehicles • Heavy Commercial Vehicles • All-Terrain Vehicles • Off-Highway Vehicles • By Sales Channel: • Authorized Dealers • Independent Dealers • Online Channel • Buy Full Report Now @https://www.persistencemarketresearch.com/checkout/32832 Automotive Parts Aftermarket ©2023 Persistence Market Research, All Rights Reserved

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