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Automotive Aftermarket Market

Global Automotive Aftermarket Market Size, Share, Forecast: By Replacement Part: Tyre, Battery, Brake Parts, Filters, Body Parts, Lighting and Electronic Components, Wheels, Exhaust Components, Others; By Vehicle; By Propulsion; By Distribution Channel; By Service Channel; By Certification; Regional Analysis; Competitive Landscape; 2024-2032

Global Automotive Aftermarket Market Outlook

The global automotive aftermarket market reached a value of about USD 503.29 billion in 2023. The market is further estimated to grow at a CAGR of 4.6% in the forecast period of 2024-2032 to reach a value of around USD 754.41 billion by 2032.

 

Global Automotive Aftermarket Market

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Robust Growth of the OEM Segment to Propel the Market Growth of Automotive Aftermarket

Based on the distribution channel, the thriving OEM segment is driving the market for automotive aftermarket owing to their expanding presence in the aftermarket activities. The OEMs' investments in customer experience optimisation efforts are bolstering the market expansion. In addition, the initiatives of OEMs in creating their own networks of non-car brand-specific repair shops and introducing second service formats or remanufactured parts to compete with independent market players are providing impetus to the market development of automotive aftermarket. Moreover, the digitalisation of internal processes and customer interfaces is adding value to OEMs which is resulting in the burgeoning of the market for the automotive aftermarket. Also, the ability of OEMs to develop superior analytical capabilities and the increasing ownership of propriety data, leverage cars through connectivity control is leading to the augmenting of the market. Further, OEMs' partnerships and new ventures are expected to aid the market for the automotive aftermarket in the forecast period.

 

Market Segmentation

The automotive aftermarket is a secondary market related to the automobile industry that deals with the manufacturing, distribution, retailing and installation of vehicle parts after the sale of the vehicle from the original equipment manufacturer. The aftermarket helps to optimise the utility of an automobile with several innovative services.

 

Global Automotive Aftermarket Market by Segments

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The market for automotive aftermarket, by replacement part, is divided into:

  • Tyre
  • Battery
  • Brake Parts 
  • Filters
  • Body Parts
  • Lighting and Electronic Components 
  • Wheels
  • Exhaust Components
  • Turbochargers
  • Others

Based on vehicle, the market is classified into:

  • Passenger Vehicles
    • Mini
    • Hatchbacks
    • Sedans
    • SUV’s
    • Sports Cars
  • Commercial Vehicles
    • Light Commercial Vehicles
    • Heavy Commercial Vehicles

On the basis of propulsion, the market is segmented into:

  • IC-Engine
  • Electric
  • Others

Based on distribution channel, the market is divided into:

  • Authorised Channel
  • OEM

On the basis of service channel, the market is bifurcated into:

  • Do It Yourself (DIY)
  • Do It For Me (DIFM)

Based on certification, the market is classified into:

  • Genuine Parts
  • Certified Parts
  • Uncertified Parts

The regional markets for automotive aftermarket can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Automotive Aftermarket Market by Region

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Growing Demand for Aftermarket Parts and Services to Drive the Market Growth of Automotive Aftermarket

The growing awareness among customers regarding the importance of scheduled servicing and preventive maintenance is leading to the increasing demand for aftermarket parts and services, thereby invigorating the market for the automotive aftermarket. In addition, the expanding automotive industry and the rising sales of vehicles are contributing to the market growth of the automotive aftermarket. Moreover, automotive aftermarket services play a critical role in prolonging the life of vehicles and maximising the lifetime value of vehicles. The higher transparency of prices and offering of diverse automobile parts provides the customers with options, which is providing impetus to the market expansion of automotive aftermarket. Also, the digitalisation of automotive aftermarket and the incorporation of new services is significantly catalysing the market development. The digital channels and interfaces help the market players to connect to the customers and boost sales, thus accelerating the market expansion of the automotive aftermarket. Further, the investments made by the governments worldwide in areas related to vehicles and automotive parts are anticipated to impel the market for the automotive aftermarket in the forecast period.

 

Key Players in the Global Automotive Aftermarket Market

The report gives a detailed analysis of the following key players in the global automotive aftermarket market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Continental AG
  • The Goodyear Tire & Rubber Company
  • Delphi Technologies (BorgWarner Inc.)
  • DENSO Corporation
  • Robert Bosch GmbH
  • ZF Friedrichshafen AG
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Replacement Part
  • Vehicle
  • Propulsion
  • Distribution Channel
  • Service Channel
  • Certification
  • Region
Breakup by Replacement Part
  • Tyre
  • Battery
  • Brake Parts 
  • Filters
  • Body Parts
  • Lighting and Electronic Components 
  • Wheels
  • Exhaust Components
  • Turbochargers
  • Others
Breakup by Vehicle
  • Passenger Vehicles
    • Mini
    • Hatchbacks
    • Sedans
    • SUV’s
    • Sports Cars
  • Commercial Vehicles
    • Light Commercial Vehicles
    • Heavy Commercial Vehicles
Breakup by Propulsion
  • IC-Engine
  • Electric
  • Others
Breakup by Distribution Channel
  • Authorised Channel
  • OEM
Breakup by Service Channel
  • Do It Yourself (DIY)
  • Do It For Me (DIFM)
Breakup by Certification
  • Genuine Parts
  • Certified Parts
  • Uncertified Parts
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Continental AG
  • The Goodyear Tire & Rubber Company
  • Delphi Technologies (BorgWarner Inc.)
  • DENSO Corporation
  • Robert Bosch GmbH
  • ZF Friedrichshafen AG
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Automotive Aftermarket Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Automotive Aftermarket Historical Market (2018-2023) 
    8.3    Global Automotive Aftermarket Market Forecast (2024-2032)
    8.4    Global Automotive Aftermarket Market by Replacement Part
        8.4.1    Tyre
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Battery
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Brake Parts 
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Filters
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Body Parts
            8.4.5.1    Historical Trend (2018-2023)
            8.4.5.2    Forecast Trend (2024-2032)
        8.4.6    Lighting and Electronic Components 
            8.4.6.1    Historical Trend (2018-2023)
            8.4.6.2    Forecast Trend (2024-2032)
        8.4.7    Wheels
            8.4.7.1    Historical Trend (2018-2023)
            8.4.7.2    Forecast Trend (2024-2032)
        8.4.8    Exhaust Components
            8.4.8.1    Historical Trend (2018-2023)
            8.4.8.2    Forecast Trend (2024-2032)
        8.4.9    Turbochargers
            8.4.9.1    Historical Trend (2018-2023)
            8.4.9.2    Forecast Trend (2024-2032)
        8.4.10    Others
    8.5    Global Automotive Aftermarket Market by Vehicle
        8.5.1    Passenger Vehicles
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
            8.5.1.3    Breakup by Type
                8.5.1.3.1    Mini
                8.5.1.3.2    Hatchbacks
                8.5.1.3.3    Sedans
                8.5.1.3.4    SUV’s
                8.5.1.3.5    Sports Cars
        8.5.2    Commercial Vehicles
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
            8.5.2.3    Breakup by Type
                8.5.2.3.1    Light Commercial Vehicles
                8.5.2.3.2    Heavy Commercial Vehicles
    8.6    Global Automotive Aftermarket Market by Propulsion
        8.6.1    IC-Engine
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Electric
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Others
    8.7    Global Automotive Aftermarket Market by Distribution Channel
        8.7.1    Authorised Channel
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    OEM
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
    8.8    Global Automotive Aftermarket Market by Service Channel
        8.8.1    Do It Yourself (DIY)
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Do It For Me (DIFM)
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
    8.9    Global Automotive Aftermarket Market by Certification
        8.9.1    Genuine Parts
            8.9.1.1    Historical Trend (2018-2023)
            8.9.1.2    Forecast Trend (2024-2032)
        8.9.2    Certified Parts
            8.9.2.1    Historical Trend (2018-2023)
            8.9.2.2    Forecast Trend (2024-2032)
        8.9.3    Uncertified Parts 
            8.9.3.1    Historical Trend (2018-2023)
            8.9.3.2    Forecast Trend (2024-2032)    
    8.10    Global Automotive Aftermarket Market by Region
        8.10.1    North America
            8.10.1.1    Historical Trend (2018-2023) 
            8.10.1.2    Forecast Trend (2024-2032)
        8.10.2    Europe
            8.10.2.1    Historical Trend (2018-2023) 
            8.10.2.2    Forecast Trend (2024-2032)
        8.10.3    Asia Pacific
            8.10.3.1    Historical Trend (2018-2023) 
            8.10.3.2    Forecast Trend (2024-2032)
        8.10.4    Latin America
            8.10.4.1    Historical Trend (2018-2023) 
            8.10.4.2    Forecast Trend (2024-2032)
        8.10.5    Middle East and Africa
            8.10.5.1    Historical Trend (2018-2023) 
            8.10.5.2    Forecast Trend (2024-2032)
9    North America Automotive Aftermarket Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Automotive Aftermarket Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Automotive Aftermarket Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Automotive Aftermarket Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Automotive Aftermarket Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Trade Data  Analysis (HS Code: 8708)

    16.1    Major Importing Countries
        16.1.1    By Volume
        16.1.2    By Value
    16.2    Major Exporting Countries
        16.2.1    By Volume
        16.2.2    By Value
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    Continental AG
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    The Goodyear Tire & Rubber Company
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Delphi Technologies (BorgWarner Inc.)
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    DENSO Corporation
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Robert Bosch GmbH
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    ZF Friedrichshafen AG
            17.2.6.1    Company Overview
            17.2.6.2    Product Portfolio
            17.2.6.3    Demographic Reach and Achievements
            17.2.6.4    Certifications
        17.2.7    Others
18    Key Trends and Developments in the Market

 

List of Figures and Tables

1.    Global Automotive Aftermarket Market: Key Industry Highlights, 2018 and 2032
2.    Global Automotive Aftermarket Historical Market: Breakup by Replacement Part (USD Billion), 2018-2023
3.    Global Automotive Aftermarket Market Forecast: Breakup by Replacement Part (USD Billion), 2024-2032
4.    Global Automotive Aftermarket Historical Market: Breakup by Vehicle (USD Billion), 2018-2023
5.    Global Automotive Aftermarket Market Forecast: Breakup by Vehicle (USD Billion), 2024-2032
6.    Global Automotive Aftermarket Historical Market: Breakup by Propulsion (USD Billion), 2018-2023
7.    Global Automotive Aftermarket Market Forecast: Breakup by Propulsion (USD Billion), 2024-2032
8.    Global Automotive Aftermarket Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
9.    Global Automotive Aftermarket Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
10.    Global Automotive Aftermarket Historical Market: Breakup by Service Channel (USD Billion), 2018-2023
11.    Global Automotive Aftermarket Market Forecast: Breakup by Service Channel (USD Billion), 2024-2032
12.    Global Automotive Aftermarket Historical Market: Breakup by Certification (USD Billion), 2018-2023
13.    Global Automotive Aftermarket Market Forecast: Breakup by Certification (USD Billion), 2024-2032
14.    Global Automotive Aftermarket Historical Market: Breakup by Region (USD Billion), 2018-2023
15.    Global Automotive Aftermarket Market Forecast: Breakup by Region (USD Billion), 2024-2032
16.    North America Automotive Aftermarket Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    North America Automotive Aftermarket Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Europe Automotive Aftermarket Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Europe Automotive Aftermarket Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Asia Pacific Automotive Aftermarket Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Asia Pacific Automotive Aftermarket Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Latin America Automotive Aftermarket Historical Market: Breakup by Country (USD Billion), 2018-2023
23.    Latin America Automotive Aftermarket Market Forecast: Breakup by Country (USD Billion), 2024-2032
24.    Middle East and Africa Automotive Aftermarket Historical Market: Breakup by Country (USD Billion), 2018-2023
25.    Middle East and Africa Automotive Aftermarket Market Forecast: Breakup by Country (USD Billion), 2024-2032
26.    Major Exporting Countries by Value
27.    Major Importing Countries by Value
28.    Major Exporting Countries by Volume
29.    Major Importing Countries by Volume
30.    Global Automotive Aftermarket Market Structure

Key Questions Answered in the Report

In 2023, the global automotive aftermarket market attained a value of nearly USD 503.29 billion.

The market is assessed to grow at a CAGR of 4.6% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach almost USD 754.41 billion by 2032.

The major industry drivers include the digitalisation of automotive aftermarket, growing awareness among customers about the improved services and diverse automobile parts offered by aftermarket, strong presence of OEMs, and the importance of aftermarket in maximising the lifetime value of vehicles.

The key industry trends guiding the growth of the market include the demand for automotive aftermarket parts and services, government investments in expanding automobile industry, and the increasing production and sales of vehicles.

The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The significant replacement parts available in the market include tyre, battery, brake parts, filters, body parts, lighting and electronic components, wheels, exhaust components, and turbochargers, among others.

The various market divisions, based on vehicle, include passenger vehicles and commercial vehicles.

The major market divisions, based on propulsion, include IC-engine and electric, among others.

The different distribution channels of the market include the authorised channel and OEM.

The various service channels of the market include the do it yourself (DIY) and do it for me (DIFM).

The significant market divisions, based on certification, include genuine parts, certified parts, and uncertified parts.

The major players in the industry are the Continental AG, The Goodyear Tire & Rubber Company, Delphi Technologies (BorgWarner Inc.), DENSO Corporation, Robert Bosch GmbH, and ZF Friedrichshafen AG, among others.

Analyst Review

The global automotive aftermarket market attained a value of nearly USD 503.29 billion in 2023, driven by the expanding automotive sector. Aided by the digitalisation of automotive aftermarket, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 4.6%. The market is estimated to reach about USD 754.41 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. The market for automotive aftermarket, by replacement part, is divided into tyre, battery, brake parts, filters, body parts, lighting and electronic components, wheels, exhaust components, and turbochargers, among others. Based on vehicle, the market is segmented into passenger vehicles and commercial vehicles. On the basis of propulsion, the market is classified into IC-engine and electric, among others. Based on distribution channel, the market is bifurcated into authorised channel and OEM. On the basis of service channel, the market is segmented into do it yourself (DIY) and do it for me (DIFM). Based on certification, the market is divided into genuine parts, certified parts, and uncertified parts. The major regional markets for automotive aftermarket are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Continental AG, The Goodyear Tire & Rubber Company, Delphi Technologies (BorgWarner Inc.), DENSO Corporation, Robert Bosch GmbH, and ZF Friedrichshafen AG, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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