Automotive aftermarket report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Automotive aftermarket supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Automotive aftermarket report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Automotive aftermarket forecast.
The Automotive aftermarket report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
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The automotive aftermarket size is projected to reach USD 513.8 billion by 2027. The major factor responsible for boosting the market growth is the easy availability of automotive components on e-portal and the introduction of new players who offer quality components compared to its original/stock counterpart at a much lower price is expected to boost the market growth. Increasing penetration of electric vehicles, autonomous and hybrid cars, and semi-autonomous cars is projected to propel the market growth over the next few years.
Growth of automotive manufacturing across the globe along with strict norms regarding harmful gas emission is anticipated to boost the demand for aftermarket component sales during the projected years. Moreover, technological advancement and increasing penetration of third-party services are expected to open new avenues for automotive aftermarket growth. Growing pre-owned vehicle sales is expected to surge the market growth in order to improve the vehicle performance, as owners of pre-owned vehicles would prefer aftermarket components or parts which are cheaper than the stock component but equivalent in quality and performance. In addition, ageing vehicle fleet along with increasing demand for replacement parts is expected to escalate the revenue generation in this industry.
In developing regions, market players are implementing several strategies such as partnerships, mergers, and acquisitions to strengthen their position in the automotive aftermarket. Asia Pacific is projected to emerge as the fastest-growing region due to high production rate of automobile in the region.
Some of the companies for Automotive Aftermarket are:
Continental AG, 3M Company, Federal-Mogul Corporation, Magneti Marelli S.p.A., Denso Corporation, Robert Bosch GmbH, and Delphi Automotive PLC.
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