Automotive Aftermarket MarketSet to Exceed USD 519 billion By 2026 | CAGR: 4% “Automotive Aftermarket Market [By Product (Tire, Wheels, Battery, Lighting Components, Exhaust Components, Body Parts, Accessories, Telematics, and Others); By Sales Channel (OEM, Professional Service Stations); By Vehicle Type (Passenger Vehicles, Commercial Vehicles); By Region]: Market size & Forecast, 2017 – 2026”
Automotive Aftermarket Market Estimate & Forecast to 2026 The global automotive aftermarket market is expected to reach more than USD 519 billion by 2026 with a CAGR of 4% during the forecast period as per a new study released by Polaris Market Research. The report “Automotive Aftermarket [By Product (Tire, Wheels, Battery, Lighting Components, Exhaust Components, Body Parts, Accessories, Telematics, and Others); By Sales Channel (OEM, Professional Service Stations); By Vehicle Type (Passenger Vehicles, Commercial Vehicles); By Region]: Market size & Forecast, 2017 – 2026”. provides an extensive analysis of present market dynamics and predicted future trends. In 2017, the tire segment accounted for the majority revenue share in the global market. The key factor driving the market include expanding the global automotive industry and the rising average age of vehicles. The growing awareness about proper maintenance and repair of vehicles is expected to propel the demand in the coming years. Other factors boosting the market growth include technological advancements in telematics, greater need for long distance travel, and changing lifestyles. New emerging markets, sale through online channels, and emerging consumer demographics are expected to offer a new avenue for growth in the coming years. The competition is high in automotive aftermarket market owing to the presence of a large number of industry players and the players offer products and services required for repair and maintenance for a wide range of vans, trucks, cars, and buses. The factor such as price, quality, vehicle age, and convenience affect consumer buying behavior.
Automotive Aftermarket Market Estimate & Forecast to 2026 North America dominated the global market as to the presence of a large customer base with high disposable income and high demand for replaceable vehicle’s parts. Asia-pacific is anticipated to witness the highest growth rate during the forecast period owing to rising demand form the developing nation such as China and India and the expansion of global players. The rise in living standards and high disposable income is expected to boost the market growth in the coming year in the region. The factors such as poor road infrastructure and favorable production regulations, in developing nations such as India, and Pakistan are estimated to drive the demand during the forecast period. Access Research Report On Automotive Aftermarket Market The major vendors profiled in the report include Denso Corporation, Royal Dutch Shell PLC, Exide Technologies, Inc., Johnsons Controls Inc., Delphi Automotive PLC, 3M Company, Goodyear Tire & Rubber Company, Magneti Marelli S.p.A, Cooper Tire & Rubber Company, and Robert Bosch GmbH, among others. These vendors are involved in strategic initiatives such as new product development, merger and acquisition, and collaboration with other market leaders to meet the increasing needs and requirements of consumers.
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