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Automotive Aftermarket - Market Analysis, Trends, and Forecasts

  • ID: 338367
  • Report
  • February 2020
  • Region: Global
  • 170 Pages
  • Global Industry Analysts, Inc
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Automotive Aftermarket market worldwide is projected to grow by US$114.1 Billion, driven by a compounded growth of 3.3%. Mechanical Products, one of the segments analyzed and sized in this study, displays the potential to grow at over 3.1%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$230 Billion by the year 2025, Mechanical Products will bring in healthy gains adding significant momentum to global growth.

Representing the developed world, the United States will maintain a 2.6% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$4.2 Billion to the region's size and clout in the next 5 to 6 years. Over US$3.4 Billion worth of projected demand in the region will come from Rest of Europe markets. In Japan, Mechanical Products will reach a market size of US$12 Billion by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 5% over the next couple of years and add approximately US$30.8 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others,
  • 3M Company
  • ACDElco
  • Akebono Brake Corporation
  • American Axle & Manufacturing Inc.
  • ASIMCO Technologies Limited
  • Bridgestone Corporation
  • Compagnie Générale des Etablissements Michelin
  • Continental AG
  • Cooper Tire & Delphi Technologies PLC
  • Denso Corporation
  • Gates Corporation
  • Goodyear Tire & Rubber Company
  • Grupo Kuo S.A.B. de C.V.
  • HELLA KGaA Hueck & Co., Hyundai Mobis Co. Ltd.
  • Johnson Controls Inc.
  • Kumho Tires Co. Inc.
  • Pirelli & C. S.p.A.
  • Prestone Products Corporation
  • Robert Bosch GmbH
  • Tenneco Inc.
  • Yokohama Rubber Co. Ltd.
  • ZF Friedrichshafen AG
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

A Prelude

Recent Market Activity

Major Market Drivers in a Nutshell

Product Replacement Cycles - Key Factor Influencing Demand for Aftermarket Parts

Maximizing Efficiency of Automobiles - Business Case for Parts

The Worldwide Automotive Aftermarket Industry - Key Growth Drivers

Emerging Markets to Drive Automotive Industry

Relatively Stable Economic Scenario to Extend Growth Opportunities

Opportunities in Store & Outlook

Expanding Vehicle PARC & Longer Service Life of Vehicles Drive Opportunities in the Aftermarket

An Insight into the Rapidly Growing Online Automotive Aftermarket Industry

Global Competitor Market Shares

Automotive Aftermarket Competitor Market Share Scenario Worldwide (in %): 2020 & 2029

2. FOCUS ON SELECT PLAYERS

3M Company (USA)

3M Automotive Aftermarket Division (USA)

ACDElco (USA)

Akebono Brake Corporation (USA)

American Axle & Manufacturing, Inc. (USA)

ASIMCO Technologies Limited (China)

Bridgestone Corporation (Japan)

Compagnie Générale des Etablissements Michelin (France)

Continental AG (Germany)

Cooper Tire & Rubber Company (USA)

Delphi Technologies PLC (UK)

Denso Corporation (Japan)

Gates Corporation (USA)

Goodyear Tire & Rubber Company (USA)

Grupo Kuo, S.A.B. de C.V. (Mexico)

Grupo Kuo, S.A.B. de C.V. (Mexico)

Hyundai Mobis Co. Ltd. (South Korea)

Johnson Controls, Inc. (USA)

Kumho Tires Co., Inc. (South Korea)

Pirelli & C. S.p.A. (Italy)

Prestone Products Corporation (USA)

Robert Bosch GmbH (Germany)

Tenneco Inc. (USA)

Yokohama Rubber Co., Ltd. (Japan)

ZF Friedrichshafen AG (Germany)

3. MARKET TRENDS & DRIVERS

Major Trends Shaping the Worldwide Automotive Aftermarket Industry

OEMs Embraces Customer-Oriented Approach

Rising Popularity of Autonomous Vehicles & ADAS to Impact Automotive Aftermarket Revenues

Predictive Maintenance - A New Norm in the Automotive Aftermarket

Large Global Base of Vehicle Fleet Offers Potential for Replacements

Global Vehicles in Operation - An Overview

Stable Automobile Production Fuels Growth Opportunities in the OEM Market

Rising Passenger Car Density Spurs Opportunities in the Aftermarket

Growing Demand for Small Affordable Workday Cars in Developing Markets Spurs Growth of Aftermarket Automotive Components

New Technologies Keep Aftermarket Players on Their Toes

Battery Electric Vehicles to Influence Prospects of Parts Aftermarket

Automotive Aftermarket Undergoes Changes on Several Fronts

Road Conditions Drive Frequent Repairs in Emerging Markets

Demand for Aftermarket Parts Grow as Consumers Retain their Vehicles Longer

Projected Rise in New Car Sales to Shore Up Demand for Aftermarket Enhancements in Coming Years

Developing Markets Remain Hot Spots for Growth

Pre-Owned Cars & Auto Leasing Drives Growth

Rise in Automotive Accidents Generate Demand for "Crash Parts"

Educating Consumer - The Key to Growth in Aftermarket

Timely Reminders for Replacements Boosting Aftermarket Sales

DIY Customers Lending Traction to the Market

Market Attributes for Auto Parts in DIY Segment

Growing Demand for DIFM Services Turn 'Service Providers' into Target Customers for Aftermarket Products

Asian Make Products Gaining Importance in Global market

Price Represents Main Influencing Factor for Purchases in Aftermarket - A Case in Point for Cheaper Asian Products

Aftermarket Manufacturers Step Up Investments on Product Innovation & Development

Remanufactured Aftermarket Parts & Components Gain Prominence

Remanufactured Starters & Alternators Continue to Find Significant Demand - A Case in Point

Expanding Middle Class Population Fuels Broad Based Growth in the Market

Rapid Urbanization Triggers Growth

Counterfeit Products Pose a Threat to the Market

Brake Parts - Major Target for Counterfeiters

Customers’ Casual Attitude Towards Replacement of Parts

Extended Life of Original Equipment Engines and Transmissions Hampers Growth

Extended Warranties to Hinder Market Growth of Independent Service Providers

New OEM Fittings Threaten Aftermarket Opportunities

Road Accidents to Drive Sales in the Automotive Aftermarket

Lower Crankcase Capacities too Reduce Quantity of Lubricants & Oil Consumption

Longer Drain Times Quell Demand for Lubricant Refills

4. GLOBAL MARKET PERSPECTIVE

TABLE 1: Automotive Aftermarket Global Market Estimates and Forecasts in US$ Million by Region/Country: 2018-2025

TABLE 2: Automotive Aftermarket Global Retrospective Market Scenario in US$ Million by Region/Country: 2009-2017

TABLE 3: Automotive Aftermarket Market Share Shift across Key Geographies Worldwide: 2009 VS 2019 VS 2025

TABLE 4: Mechanical Products (Category) World Market by Region/Country in US$ Million: 2018 to 2025

TABLE 5: Mechanical Products (Category) Historic Market Analysis by Region/Country in US$ Million: 2009 to 2017

TABLE 6: Mechanical Products (Category) Market Share Breakdown of Worldwide Sales by Region/Country: 2009 VS 2019 VS 2025

TABLE 7: Exterior & Structural Products (Category) Potential Growth Markets Worldwide in US$ Million: 2018 to 2025

TABLE 8: Exterior & Structural Products (Category) Historic Market Perspective by Region/Country in US$ Million: 2009 to 2017

TABLE 9: Exterior & Structural Products (Category) Market Sales Breakdown by Region/Country in Percentage: 2009 VS 2019 VS 2025

TABLE 10: Electrical Products (Category) Geographic Market Spread Worldwide in US$ Million: 2018 to 2025

TABLE 11: Electrical Products (Category) Region Wise Breakdown of Global Historic Demand in US$ Million: 2009 to 2017

TABLE 12: Electrical Products (Category) Market Share Distribution in Percentage by Region/Country: 2009 VS 2019 VS 2025

TABLE 13: Electronic Products (Category) World Market Estimates and Forecasts by Region/Country in US$ Million: 2018 to 2025

TABLE 14: Electronic Products (Category) Market Historic Review by Region/Country in US$ Million: 2009 to 2017

TABLE 15: Electronic Products (Category) Market Share Breakdown by Region/Country: 2009 VS 2019 VS 2025

TABLE 16: Motor Oil, Fluids & Additives (Category) World Market by Region/Country in US$ Million: 2018 to 2025

TABLE 17: Motor Oil, Fluids & Additives (Category) Historic Market Analysis by Region/Country in US$ Million: 2009 to 2017

TABLE 18: Motor Oil, Fluids & Additives (Category) Market Share Distribution in Percentage by Region/Country: 2009 VS 2019 VS 2025

TABLE 19: Appearance Chemicals (Category) World Market Estimates and Forecasts in US$ Million by Region/Country: 2018 to 2025

TABLE 20: Appearance Chemicals (Category) Market Worldwide Historic Review by Region/Country in US$ Million: 2009 to 2017

TABLE 21: Appearance Chemicals (Category) Market Percentage Share Distribution by Region/Country: 2009 VS 2019 VS 2025

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Market Facts & Figures

US Automotive Aftermarket Market Share (in %) by Company: 2020 & 2025

Market Analytics

TABLE 22: United States Automotive Aftermarket Market Estimates and Projections in US$ Million by Category: 2018 to 2025

TABLE 23: Automotive Aftermarket Market in the United States by Category: A Historic Review in US$ Million for 2009-2017

TABLE 24: United States Automotive Aftermarket Market Share Breakdown by Category: 2009 VS 2019 VS 2025

CANADA

TABLE 25: Canadian Automotive Aftermarket Market Estimates and Forecasts in US$ Million by Category: 2018 to 2025

TABLE 26: Canadian Automotive Aftermarket Historic Market Review by Category in US$ Million: 2009-2017

TABLE 27: Automotive Aftermarket Market in Canada: Percentage Share Breakdown of Sales by Category for 2009, 2019, and 2025

JAPAN

TABLE 28: Japanese Market for Automotive Aftermarket: Annual Sales Estimates and Projections in US$ Million by Category for the Period 2018-2025

TABLE 29: Automotive Aftermarket Market in Japan: Historic Sales Analysis in US$ Million by Category for the Period 2009-2017

TABLE 30: Japanese Automotive Aftermarket Market Share Analysis by Category: 2009 VS 2019 VS 2025

CHINA

TABLE 31: Chinese Automotive Aftermarket Market Growth Prospects in US$ Million by Category for the Period 2018-2025

TABLE 32: Automotive Aftermarket Historic Market Analysis in China in US$ Million by Category: 2009-2017

TABLE 33: Chinese Automotive Aftermarket Market by Category: Percentage Breakdown of Sales for 2009, 2019, and 2025

EUROPE

Market Facts & Figures

European Automotive Aftermarket Market: Competitor Market Share Scenario (in %) for 2020 & 2025

Market Analytics

TABLE 34: European Automotive Aftermarket Market Demand Scenario in US$ Million by Region/Country: 2018-2025

TABLE 35: Automotive Aftermarket Market in Europe: A Historic Market Perspective in US$ Million by Region/Country for the Period 2009-2017

TABLE 36: European Automotive Aftermarket Market Share Shift by Region/Country: 2009 VS 2019 VS 2025

TABLE 37: European Automotive Aftermarket Market Estimates and Forecasts in US$ Million by Category: 2018-2025

TABLE 38: Automotive Aftermarket Market in Europe in US$ Million by Category: A Historic Review for the Period 2009-2017

TABLE 39: European Automotive Aftermarket Market Share Breakdown by Category: 2009 VS 2019 VS 2025

FRANCE

TABLE 40: Automotive Aftermarket Market in France by Category: Estimates and Projections in US$ Million for the Period 2018-2025

TABLE 41: French Automotive Aftermarket Historic Market Scenario in US$ Million by Category: 2009-2017

TABLE 42: French Automotive Aftermarket Market Share Analysis by Category: 2009 VS 2019 VS 2025

GERMANY

TABLE 43: Automotive Aftermarket Market in Germany: Recent Past, Current and Future Analysis in US$ Million by Category for the Period 2018-2025

TABLE 44: German Automotive Aftermarket Historic Market Analysis in US$ Million by Category: 2009-2017

TABLE 45: German Automotive Aftermarket Market Share Breakdown by Category: 2009 VS 2019 VS 2025

ITALY

TABLE 46: Italian Automotive Aftermarket Market Growth Prospects in US$ Million by Category for the Period 2018-2025

TABLE 47: Automotive Aftermarket Historic Market Analysis in Italy in US$ Million by Category: 2009-2017

TABLE 48: Italian Automotive Aftermarket Market by Category: Percentage Breakdown of Sales for 2009, 2019, and 2025

UNITED KINGDOM

TABLE 49: United Kingdom Market for Automotive Aftermarket: Annual Sales Estimates and Projections in US$ Million by Category for the Period 2018-2025

TABLE 50: Automotive Aftermarket Market in the United Kingdom: Historic Sales Analysis in US$ Million by Category for the Period 2009-2017

TABLE 51: United Kingdom Automotive Aftermarket Market Share Analysis by Category: 2009 VS 2019 VS 2025

SPAIN

TABLE 52: Spanish Automotive Aftermarket Market Estimates and Forecasts in US$ Million by Category: 2018 to 2025

TABLE 53: Spanish Automotive Aftermarket Historic Market Review by Category in US$ Million: 2009-2017

TABLE 54: Automotive Aftermarket Market in Spain: Percentage Share Breakdown of Sales by Category for 2009, 2019, and 2025

RUSSIA

TABLE 55: Russian Automotive Aftermarket Market Estimates and Projections in US$ Million by Category: 2018 to 2025

TABLE 56: Automotive Aftermarket Market in Russia by Category: A Historic Review in US$ Million for 2009-2017

TABLE 57: Russian Automotive Aftermarket Market Share Breakdown by Category: 2009 VS 2019 VS 2025

REST OF EUROPE

TABLE 58: Rest of Europe Automotive Aftermarket Market Estimates and Forecasts in US$ Million by Category: 2018-2025

TABLE 59: Automotive Aftermarket Market in Rest of Europe in US$ Million by Category: A Historic Review for the Period 2009-2017

TABLE 60: Rest of Europe Automotive Aftermarket Market Share Breakdown by Category: 2009 VS 2019 VS 2025

ASIA-PACIFIC

TABLE 61: Asia-Pacific Automotive Aftermarket Market Estimates and Forecasts in US$ Million by Region/Country: 2018-2025

TABLE 62: Automotive Aftermarket Market in Asia-Pacific: Historic Market Analysis in US$ Million by Region/Country for the Period 2009-2017

TABLE 63: Asia-Pacific Automotive Aftermarket Market Share Analysis by Region/Country: 2009 VS 2019 VS 2025

TABLE 64: Automotive Aftermarket Market in Asia-Pacific by Category: Estimates and Projections in US$ Million for the Period 2018-2025

TABLE 65: Asia-Pacific Automotive Aftermarket Historic Market Scenario in US$ Million by Category: 2009-2017

TABLE 66: Asia-Pacific Automotive Aftermarket Market Share Analysis by Category: 2009 VS 2019 VS 2025

AUSTRALIA

TABLE 67: Automotive Aftermarket Market in Australia: Recent Past, Current and Future Analysis in US$ Million by Category for the Period 2018-2025

TABLE 68: Australian Automotive Aftermarket Historic Market Analysis in US$ Million by Category: 2009-2017

TABLE 69: Australian Automotive Aftermarket Market Share Breakdown by Category: 2009 VS 2019 VS 2025

INDIA

TABLE 70: Indian Automotive Aftermarket Market Estimates and Forecasts in US$ Million by Category: 2018 to 2025

TABLE 71: Indian Automotive Aftermarket Historic Market Review by Category in US$ Million: 2009-2017

TABLE 72: Automotive Aftermarket Market in India: Percentage Share Breakdown of Sales by Category for 2009, 2019, and 2025

SOUTH KOREA

TABLE 73: Automotive Aftermarket Market in South Korea: Recent Past, Current and Future Analysis in US$ Million by Category for the Period 2018-2025

TABLE 74: South Korean Automotive Aftermarket Historic Market Analysis in US$ Million by Category: 2009-2017

TABLE 75: Automotive Aftermarket Market Share Distribution in South Korea by Category: 2009 VS 2019 VS 2025

REST OF ASIA-PACIFIC

TABLE 76: Rest of Asia-Pacific Market for Automotive Aftermarket: Annual Sales Estimates and Projections in US$ Million by Category for the Period 2018-2025

TABLE 77: Automotive Aftermarket Market in Rest of Asia-Pacific: Historic Sales Analysis in US$ Million by Category for the Period 2009-2017

TABLE 78: Rest of Asia-Pacific Automotive Aftermarket Market Share Analysis by Category: 2009 VS 2019 VS 2025

LATIN AMERICA

TABLE 79: Latin American Automotive Aftermarket Market Trends by Region/Country in US$ Million: 2018-2025

TABLE 80: Automotive Aftermarket Market in Latin America in US$ Million by Region/Country: A Historic Perspective for the Period 2009-2017

TABLE 81: Latin American Automotive Aftermarket Market Percentage Breakdown of Sales by Region/Country: 2009, 2019, and 2025

TABLE 82: Latin American Automotive Aftermarket Market Growth Prospects in US$ Million by Category for the Period 2018-2025

TABLE 83: Automotive Aftermarket Historic Market Analysis in Latin America in US$ Million by Category: 2009-2017

TABLE 84: Latin American Automotive Aftermarket Market by Category: Percentage Breakdown of Sales for 2009, 2019, and 2025

ARGENTINA

TABLE 85: Argentinean Automotive Aftermarket Market Estimates and Forecasts in US$ Million by Category: 2018-2025

TABLE 86: Automotive Aftermarket Market in Argentina in US$ Million by Category: A Historic Review for the Period 2009-2017

TABLE 87: Argentinean Automotive Aftermarket Market Share Breakdown by Category: 2009 VS 2019 VS 2025

BRAZIL

TABLE 88: Automotive Aftermarket Market in Brazil by Category: Estimates and Projections in US$ Million for the Period 2018-2025

TABLE 89: Brazilian Automotive Aftermarket Historic Market Scenario in US$ Million by Category: 2009-2017

TABLE 90: Brazilian Automotive Aftermarket Market Share Analysis by Category: 2009 VS 2019 VS 2025

MEXICO

TABLE 91: Automotive Aftermarket Market in Mexico: Recent Past, Current and Future Analysis in US$ Million by Category for the Period 2018-2025

TABLE 92: Mexican Automotive Aftermarket Historic Market Analysis in US$ Million by Category: 2009-2017

TABLE 93: Mexican Automotive Aftermarket Market Share Breakdown by Category: 2009 VS 2019 VS 2025

REST OF LATIN AMERICA

TABLE 94: Rest of Latin America Automotive Aftermarket Market Estimates and Projections in US$ Million by Category: 2018 to 2025

TABLE 95: Automotive Aftermarket Market in Rest of Latin America by Category: A Historic Review in US$ Million for 2009-2017

TABLE 96: Rest of Latin America Automotive Aftermarket Market Share Breakdown by Category: 2009 VS 2019 VS 2025

MIDDLE EAST

TABLE 97: The Middle East Automotive Aftermarket Market Estimates and Forecasts in US$ Million by Region/Country: 2018-2025

TABLE 98: Automotive Aftermarket Market in the Middle East by Region/Country in US$ Million: 2009-2017

TABLE 99: The Middle East Automotive Aftermarket Market Share Breakdown by Region/Country: 2009, 2019, and 2025

TABLE 100: The Middle East Automotive Aftermarket Market Estimates and Forecasts in US$ Million by Category: 2018 to 2025

TABLE 101: The Middle East Automotive Aftermarket Historic Market by Category in US$ Million: 2009-2017

TABLE 102: Automotive Aftermarket Market in the Middle East: Percentage Share Breakdown of Sales by Category for 2009, 2019, and 2025

IRAN

TABLE 103: Iranian Market for Automotive Aftermarket: Annual Sales Estimates and Projections in US$ Million by Category for the Period 2018-2025

TABLE 104: Automotive Aftermarket Market in Iran: Historic Sales Analysis in US$ Million by Category for the Period 2009-2017

TABLE 105: Iranian Automotive Aftermarket Market Share Analysis by Category: 2009 VS 2019 VS 2025

ISRAEL

TABLE 106: Israeli Automotive Aftermarket Market Estimates and Forecasts in US$ Million by Category: 2018-2025

TABLE 107: Automotive Aftermarket Market in Israel in US$ Million by Category: A Historic Review for the Period 2009-2017

TABLE 108: Israeli Automotive Aftermarket Market Share Breakdown by Category: 2009 VS 2019 VS 2025

SAUDI ARABIA

TABLE 109: Saudi Arabian Automotive Aftermarket Market Growth Prospects in US$ Million by Category for the Period 2018-2025

TABLE 110: Automotive Aftermarket Historic Market Analysis in Saudi Arabia in US$ Million by Category: 2009-2017

TABLE 111: Saudi Arabian Automotive Aftermarket Market by Category: Percentage Breakdown of Sales for 2009, 2019, and 2025

UNITED ARAB EMIRATES

TABLE 112: Automotive Aftermarket Market in the United Arab Emirates: Recent Past, Current and Future Analysis in US$ Million by Category for the Period 2018-2025

TABLE 113: United Arab Emirates Automotive Aftermarket Historic Market Analysis in US$ Million by Category: 2009-2017

TABLE 114: Automotive Aftermarket Market Share Distribution in United Arab Emirates by Category: 2009 VS 2019 VS 2025

REST OF MIDDLE EAST

TABLE 115: Automotive Aftermarket Market in Rest of Middle East: Recent Past, Current and Future Analysis in US$ Million by Category for the Period 2018-2025

TABLE 116: Rest of Middle East Automotive Aftermarket Historic Market Analysis in US$ Million by Category: 2009-2017

TABLE 117: Rest of Middle East Automotive Aftermarket Market Share Breakdown by Category: 2009 VS 2019 VS 2025

AFRICA

TABLE 118: African Automotive Aftermarket Market Estimates and Projections in US$ Million by Category: 2018 to 2025

TABLE 119: Automotive Aftermarket Market in Africa by Category: A Historic Review in US$ Million for 2009-2017

TABLE 120: African Automotive Aftermarket Market Share Breakdown by Category: 2009 VS 2019 VS 2025

IV. COMPETITION

Total Companies Profiled: 393

Note: Product cover images may vary from those shown
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