Automotive Aftermarket Market

Automotive Aftermarket Market - Global Market Share, Trends, Analysis and Forecast, 2023-2032
Frequently asked questions about this report

The automotive aftermarket market size was estimated to be US$ 601.92 Billion in 2022.

The automotive aftermarket market is expected grow at a CAGR of 6.3% between 2023 to 2032.

The global automotive aftermarket market is driven by several key factors including rising demand for vehicle customization and personalization, with consumers seeking unique features and upgrades to make their vehicles stand out and the need for replacement and maintenance of automotive components and parts.

The passenger vehicle segment is the largest segment in the automotive aftermarket. This is because passenger vehicles, including cars, SUVs, and light trucks, make up the majority of vehicles on the road globally, and they require regular maintenance, repairs, and upgrades throughout their lifespan.

The Asia-Pacific automotive aftermarket market is driven by factors such as a growing vehicle population, rising disposable incomes, increasing urbanization, and a booming automotive industry.

Some of the major growth strategies adopted by these companies focus on continuous product innovation to offer differentiated and advanced aftermarket products, such as replacement parts, accessories, and automotive components, that meet the evolving needs and preferences of customers.

The automotive aftermarket market segmented on the basis of product type, vehicle type, service provider, certification and region.

3M Company, BorgWarner Inc., Continental AG, Delphi Automotive PLC, Denso Corporation, Federal-Mogul Corporation, Genuine Parts Company, Magneti Marelli S.p.A., Mann+Hummel Group, Robert Bosch GmbH, Schaeffler AG, Tenneco Inc., Valeo SA, WABCO Holdings Inc., and ZF Friedrichshafen AG are leading players in the automotive aftermarket market.