Latin America Automotive Parts Aftermarket Growth Analysis Report - Market Size, Share, Forecast Trends and Outlook (2025-2034)

The Latin America automotive parts aftermarket was valued at USD 56.13 Billion in 2024. The industry is expected to grow at a CAGR of 6.60% during the forecast period of 2025-2034. Bus and commercial vehicle fleet sales contribute to a significant portion of the secondary market, creating a demand for bulk aftermarket components like tires, filters, and maintenance parts that support sustained growth. In turn, all these factors have resulted in the market attaining a valuation of USD 106.36 Billion by 2034.

Latin America Automotive Parts Aftermarket Report Summary

Market Size 2024

• USD Billion 56.13

Market Size 2034

• USD Billion 106.36
• CAGR 2025-2034
• 6.60%

CAGR 2025-2034 - Market by Country

• Brazil
• 7.5%

CAGR 2025-2034 - Market by Country

• Mexico
• 7.1%

CAGR 2025-2034 - Market by Distribution Channel

• Independent Dealer
• 7.2%

CAGR 2025-2034 - Market by Vehicle Type

• Commercial Vehicle
• 7.0%

2024 Market Share by Country

• Argentina
• 10.2%

Latin America Automotive Parts Aftermarket Overview

The Latin America automotive parts aftermarket is gaining traction due to the growing ownership of vehicles among the public, aging fleets of cars, and a growing middle-class population with rising disposable incomes. Some trends identified in the current market are the use of digitized parts sourcing platforms, and the growth of e-commerce in the automotive industry. In addition, the market observes a growing emphasis on quality replacement parts and effective distribution networks. Grupo Noy, ZF, and Valeo are among the dominant players in the region who are leveraging the growth opportunities by providing a multitude of offerings through aftermarket parts and by investing in local production and distribution capabilities.

Latin America Automotive Parts Aftermarket Growth

The growing trend of connected vehicles is accelerating the adoption of telematics and diagnostic systems and boosting further demand in the Latin America automotive parts aftermarket. Companies specializing in diagnostic tools, sensors, and telematics services are catering to the need for on-demand vehicle monitoring and performance testing. These technologies allow consumers and repair shops to quickly and efficiently diagnose problems, leading to increased demand for associated parts, such as sensors or ECU (electronic control units) and advanced diagnostics equipment. The market further observes a burgeoning niche for car modification driven by performance tuning enthusiasts. Their aftermarket performance requires parts like exhaust systems, suspension upgrades, and air filters. This trend is presumably stronger in markets such as Brazil and Mexico.

Key Trends and Recent Developments

The key trends of the Latin America automotive parts aftermarket include digitalization, increasing need for quality and sustainable parts, growth in vehicle maintenance services, and increasing adoption of electric vehicle parts.

November 2024

AISIN Corporation unveiled AISIN Aftermarket & Service of America, Inc., a new aftermarket business with an emphasis on the Americas. The aftermarket business division of AISIN World Corp. of America (AWA) and AWTEC, an AISIN subsidiary specializing in transmission remanufacturing, will merge to form this new company.

March 2024

Stellantis unveiled a record investment plan for the South American area that will total €5.6 billion between 2025 and 2030. In addition to the development of novel Bio-Hybrid technologies, cutting-edge decarbonization solutions throughout the automotive supply chain, and significant new business prospects, the projected investments will support the launch of over 40 new products during this time.

July 2023

Bajaj Auto began its first foreign production facility in Brazil as a first step toward international growth. Through development and innovation, this strategic initiative seeks to establish Bajaj Auto's footprint across Latin America.

April 2023

The leading provider of other rail and commercial vehicle systems and the market leader for brake systems worldwide, Knorr-Bremse, announced the opening of its commercial vehicle aftermarket brand, Knorr-Bremse TruckServices, in South America.

Digitalization of Aftermarket Sector

The Latin America automotive parts aftermarket is increasingly adopting digital platforms for auto parts sourcing and selling. Ordering parts online has become increasingly popular among customers through e-commerce websites and apps. Mega retail giants like Amazon are broadening their automotive drives. Distributors are also operating close to home, leveraging digital tools to optimize managing diverse inventories and sales of used cars. For businesses, this transition to digital has opened new avenues for targeting a wider customer base with greater ease.

Growing Emphasis on Quality and Sustainability

Customers are getting increasingly discerning, which translates into growing demands for quality, long-lasting, and sustainable vehicle components. Manufacturers have responded with products that are environmentally friendly, such as recycled content and greener components that consume less energy, thereby boosting demand in the Latin America automotive parts aftermarket. For example, brands such as Bosch and Valeo are proposing "green" alternative parts like low-emission filters or recyclable materials in manufacturing. Consumer preferences towards a greener way of living as well as stricter environmental regulations, are forcing companies to come up with more sustainable solutions.

Car Maintenance and Repair Service Development

As the car population increases and vehicles age, vehicle maintenance and repair services are developing in Latin America. Now, several aftermarket parts providers are collaborating with local repair shops and components distributors to allow for better use of components, thereby boosting the Latin America automotive parts aftermarket revenues. Countries, such as AutoZone and O'Reilly Automotive, are fortifying their service network to provide replacement parts with installation services due to the increased requirement for vehicle maintenance in the area.

Growing Focus on Electric Vehicles

The rise of electric vehicles (EVs) has positively affected the Latin America automotive parts aftermarkets by increasing the demand for distinct parts; EV batteries, chargers, and electric drivetrains. As the region's governments advocate for sustainable transportation, businesses such as Bosch and Denso, as well as local operators, are starting to invest more into components tailored for EVs. As electric vehicles gain traction, this trend will increase, with new opportunities in aftermarket EV-specific analysis.

Latin America Automotive Parts Aftermarket Opportunities

A huge opportunity for Latin America automotive parts aftermarket companies is to create robust relations with local garages offering quality aftermarket parts delivered on time through the optimized supply chain. Assuming a well-designed and well-built part, this allows companies to take advantage of a wide pool of consumers looking for lower-cost and dependable alternatives in place of all OEM components. Companies can capitalize on the growing demand for cost-effective solutions, creating aftermarket versions of OEM parts. Thus, it evokes new opportunities for businesses to manufacture and sell aftermarket substitutes that always meet the OEM standards in quality and competition in pricing respectively, thereby serving consumers who want to optimize their budget without losing the quality of performance and safety.

Latin America Automotive Parts Aftermarket Trends

The expansion of the region’s middle class indicates that more people are buying vehicles, driving growth in the Latin America automotive parts aftermarket. Growing car ownership, coupled with the region’s preference for keeping older cars on the road, creates a consistent need for parts like tires, engine components and filters. Improved logistics infrastructure and stronger distribution channels are enabling companies to meet the rising demand for automotive parts across Latin America. Less time between ordering and delivery enables companies to cater more effectively to either urban or rural areas, incentivizing aftermarket purchases and improving customer satisfaction.

Latin America Automotive Parts Aftermarket Restraints

• Logistics inefficiencies and delays in raw material availability can lead to disruptions in the supply chain, which hampers the timely delivery of automotive parts and negatively impacts Latin America automotive parts aftermarket growth.
• Changes in the area's economy, like inflation rates and currency fluctuations, might restrict how much consumers spend on aftermarket goods, affecting businesses' demand and profits.

Casino Industry Segmentation

The report titled “Latin America Automotive Parts Aftermarket Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Engine and Transmission
• Breakup by Type Piston and Piston Rings Transmission Filters Air Filter Oil Pump Oil Filter
• Brake Parts
• Breakup by Type Brake Pads Brake Shoe Brake Drums Brake Rotor Brake Drums
• Electrical Components
• Breakup by Type Starter Alternator Battery Light Bulbs Sensor
• Fuel Intake and Ignition
• Breakup by Type Fuel Filter Spark Plug Fuel Pump Fuel Injector Sensor
• Suspension Parts
• Breakup by Type Shock Absorber Leaf Spring Air Spring Coil Spring
• Air Conditioning
• Breakup by Type Cabin Air Filter Compressor Condenser Blower Motor Sensor
• Exhaust Components
• Breakup by Type Engine Cooling Parts Exhaust Pipes Radiator Radiator Fans
• Wiper Blades
• Tyres
• Others

Market Breakup by Distribution Channel

• Authorized Dealer & OEM
• Independent Dealer

Market Breakup by Vehicle Type

• Commercial Vehicle
• Passenger Vehicle

Market Breakup by Region

• Brazil
• Mexico
• Argentina
• Chile
• Columbia
• Peru
• Others

Latin America Automotive Parts Aftermarket Share

Market Insights by Products

Several product categories are seeing considerable growth in the overall Latin America automotive parts aftermarket dynamics. With the growing fleet of vehicles and the elevation in the demand for new parts, the regional market for engine and transmission parts is expected to detect a surge in demand. Due to safety concerns and an increase in vehicle usage, brake parts are in high demand. With the advent of advanced vehicle electronics, electrical components and fuel intake/ignition elements are emerging. Vehicle suspension parts and air conditioning parts are growing in demand as vehicles become more comfortable and easier to maintain. Fuel tank, exhaust components, wiper blades, and tires are all crucial for performance & safety. Wiper blades and other parts round out the expanding consumer interest in vehicle maintenance.

Market Analysis by Distribution Channel

Authorized dealers & OEMs are emerging in full swing as consumers are increasingly seeking quality, authentic parts for vehicle maintenance for reliability and endurance, boosting the automotive parts demand in the Latin America aftermarket. These channels benefit from existing trust and access to genuine components. However, independent dealers are also growing as they can be competitive on price and the breadth of aftermarket offerings. Their flexibility and robust local networks appeal to cost-sensitive consumers and expand their share in the region’s burgeoning market.

Analysis by Vehicle Type

The dominance of the commercial vehicle segment in the Latin America automotive parts aftermarket owing to import and export demands of logistics and transport. Fleet maintenance fuels consistent demand for parts such as tires, brakes and engine components. The passenger vehicle segment is expected to witness rapid growth owing to increasing vehicle ownership and the requirement for operation of aging fleets. Consumers in this segment seek inexpensive replacement parts and accessories, leading to a growing need for aftermarket products like filters, suspension components, and tires.

Latin America Automotive Parts Aftermarket Regional Analysis

Brazil Automotive Parts Aftermarket Opportunities

Being the largest automotive parts aftermarket in Latin America, Brazil demonstrates a huge demand for aftermarket parts driven by increasing vehicle fleet and aging vehicles. The demand fueled by a growing middle class, higher vehicle ownership rates, and replacing parts. The major segments are tires, brakes, and engine parts, where both OEM and aftermarket segments prosper. Domestic manufacturing of auto components has further encouraged supply chains to provide an ease in fulfilling local demand, which has led to sustained growth. The market is expected to grow at a CAGR of 7.6% over the forecast period.

Mexico Automotive Parts Aftermarket Insights

With its close proximity to the United States and a strong manufacturing presence in the automotive industry, the Mexico automotive parts aftermarket is largely growing. With its ever-growing car fleet, demand for maintenance parts, particularly for passenger and commercial vehicles, is on the rise. The market is expected to grow at a CAGR of 7.1% over the forecast period. Additionally, as the demand grows for parts from both local and international brands, the aftermarket industry is being boosted by rising cross-border commerce. In addition, the rise of e-commerce platforms in Mexico is expediting the delivery of aftermarket items.

Argentina Automotive Parts Aftermarket Growth

Argentina automotive part aftermarket is fueled by a booming automotive culture, aging car fleets, and rising consumer demand for economical products. As consumers turn to off-brand alternatives to OEM products, demand for components including tires, filters and suspension parts is growing. Moreover, the economic turbulence in Argentina makes buying new cars less appealing and causes many people to choose repairs and replacements instead, which contributes to aftermarket growth.

CAGR 2025-2034 - Market by

• Country
• Brazil
• 7.5%
• Mexico
• 7.1%
• Colombia
• 6.8%
• Argentina
• Chile
• Others

Chile Automotive Parts Aftermarket Outlook

The demand for automotive parts has grown steadily due to Chile’s relatively high vehicle ownership rates and strong economic conditions. Aftermarket parts, particularly passenger car parts, are becoming popular, including brake pads, air filters and electrical parts. An organized supply chain network already exists across the country to facilitate all kinds of quality aftermarket parts available in India through domestic or international suppliers.

Colombia Automotive Parts Aftermarket Dynamics

The Colombia automotive parts aftermarket is on the surge as its vehicle fleet grows rapidly and its middle class increasingly prioritizes vehicle maintenance. The demand for affordable and reliable parts, especially for passenger vehicles, is booming. Domestic production and imported parts fuel the market for the various aftermarket products, with major sectors being engine segments, chassis parts, and tires. The rising urbanization and infrastructure development in the nation are further increasing the use of vehicles, thus giving rise to the regular need for maintenance and replacement parts. Colombia's geographic location for logistics allows for quick distribution throughout the region.

Peru Automotive Parts Aftermarket Outlook

The automotive parts aftermarket in Peru is on an upward trajectory backed by a growing vehicle base led by urban centers like Lima. For both passenger cars and commercial vehicles, many consumers are selecting replacement parts that are more affordable. The market is further driven by the country's growing automotive industry and the rise of digital platforms for parts sourcing.

Competitive Landscape

The Latin America automotive parts aftermarket players are concentrating on developing extended distribution channels, providing specialized and economic parts, and utilizing online marketing channels to enhance customer engagement. By mitigating high competition through a gradually strengthening market presence, most of the Latin America automotive parts aftermarket companies are carrying out the aforementioned strategies to seize the growing vehicle fleet, demand for vehicle maintenance services, and regional supply chain optimization.

Stellantis NV

Stellantis NV, founded in 2021 and headquartered in Netherlands, is an international automotive group, making Kalos and a full range of vehicles under all sorts of brands including Jeep, Dodge and Fiat. Innovative and sustainable quality OEM and aftermarket parts for Latin America.

Renault Group

Established in 1898, Renault Group is a leading player that offers wide range of vehicles. They are in significant demand and are supplied as both OEM and spare parts with an emphasis on efficiency, safety, and eco-friendly solutions in the region.

Nissan Motor Co., Ltd

Nissan Motor Co., Ltd, founded in 1933, with its head office located in Yokohama, Japan, has a major presence of its own in the Latin American market, sourcing reliable OEM parts for light and heavy vehicles. It is innovative, quality-focused, and serves a broad customer base.

Mitsubishi Motors

Incorporated in 1970, Mitsubishi Motors provides consumers with parts that are durable and efficient for their vehicles. Mitsubishi offers OEM parts and pieces for maintenance based on reliability and cost savings.

Other key players in the Latin America automotive parts aftermarket report are Volkswagen Group, General Motors, Hyundai Motor Company, Toyota Motor Corporation, Robert Bosch Gmbh, ZF Friedrichshafen AG, Hella GmbH & Co. KGaA, Denso Corporation, Hitachi Astemo Ltd, Exide Technologies, KYB Corporation, Magna International, Continental AG, Bridgestone Corporation, Goodyear Corporation, and OSRAM GmbH, among others.