The global Automotive
Aftermarket size
is expected to reach USD 486.4 billion by 2025, according to a new report by
Grand View Research, Inc., expanding at a CAGR of 3.9% over the forecast
period. Digitalization of auto repair and component sales, complemented by
advanced technology incorporations in automobile aftermarket component
manufacturing, is expected to benefit market expansion. Surging reception of
semi-autonomous, electric vehicles, and hybrid and autonomous cars is further
expected to bolster the new component market growth in the years to come. The
market can be categorized, based on replacement parts, into tire, battery,
brake parts, filters, body parts, lighting and electronic components, wheels,
exhaust components, and turbochargers.
Increasing vehicle penetration is driven by overall improvement of lifestyle in developing countries such as India and Brazil and is expected to drive the automobile industry. Similar surges in the auto manufacturing sector across various regions, along with increasing stringent emissions norms, are expected to drive aftermarket component sales over the forecast period.
Asia Pacific is expected to emerge as the fastest-growing regional market for automotive collision repair services over the forecast period, owing to its developing living standards and high vehicle production. It is also anticipated to be the fastest-growing market in automobile production. With increasing penetration and acceptance of gas and hybrid electric cars, specialized repair centers dedicated to repair particular vehicles are expected to increase. The market is also expected to witness tremendous growth due to an upsurge in the number of vehicle collisions, along with inclination of owners towards repair of their automobiles.
Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/aftermarket-automotive-parts-market
Further key findings from the study suggest:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
Increasing vehicle penetration is driven by overall improvement of lifestyle in developing countries such as India and Brazil and is expected to drive the automobile industry. Similar surges in the auto manufacturing sector across various regions, along with increasing stringent emissions norms, are expected to drive aftermarket component sales over the forecast period.
Asia Pacific is expected to emerge as the fastest-growing regional market for automotive collision repair services over the forecast period, owing to its developing living standards and high vehicle production. It is also anticipated to be the fastest-growing market in automobile production. With increasing penetration and acceptance of gas and hybrid electric cars, specialized repair centers dedicated to repair particular vehicles are expected to increase. The market is also expected to witness tremendous growth due to an upsurge in the number of vehicle collisions, along with inclination of owners towards repair of their automobiles.
Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/aftermarket-automotive-parts-market
Further key findings from the study suggest:
·
The
market is estimated to grow significantly over the forecast period, owing to an
increase in number of lightweight vehicles, coupled with increasing age of the
light vehicle fleet
·
North
America has a higher technology adoption rate, which is anticipated to result
in faster and higher adoption of hybrid electric automobiles in the region as
compared to other geographical regions
·
The market
is anticipated to witness a phase change owing to growing proportion of
specialized auto collision repair centers that are dedicated to serving
specific vehicles, such as alternate fuel powered vehicles
·
Key
industry participants include Magneti Marelli S.p.A., Continental AG, 3M
Company, Federal-Mogul Corporation, Delphi Automotive PLC, Robert Bosch GmbH,
and Denso Corporation.
About
Us:Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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