The Global Automotive Aftermarket Industry was valued at USD 451.74 billion in 2023 and is anticipated to grow at a CAGR of 3.8% during the forecast period 2024-2032. The industry’s growth is fueled by rising consumer demand for improved vehicle performance, increased digitalization of automotive component sales, and advancements in automotive technology. Regulatory bodies such as the Japanese Automobile Sports Muffler Association (JASMA) and the U.S. Environmental Protection Agency (EPA) are playing a pivotal role in ensuring quality standards and environmental compliance for aftermarket components.
The digitalization of sales channels has revolutionized the automotive aftermarket, with e-commerce platforms and online distribution networks enabling seamless transactions between suppliers and consumers. Major industry players such as CarParts.com and US Auto Parts Network, Inc. are making significant investments in online marketplaces to cater to a broader audience. Additionally, the advent of IoT (Internet of Things) and AI-driven diagnostics has enhanced the efficiency and precision of aftermarket services, paving the way for personalized automotive solutions.
Despite these growth drivers, the industry faces certain challenges, including fluctuating raw material costs, high R&D expenses, and stringent regulatory requirements. However, the increasing adoption of DIY (Do-It-Yourself) vehicle maintenance in developed economies such as North America and Europe is reshaping consumer buying behavior. Meanwhile, the growing preference for electric and hybrid vehicles has created fresh avenues for specialized aftermarket component manufacturers.
North America, Europe, and Asia-Pacific remain the key regions dominating the global automotive aftermarket industry. North America’s market growth is propelled by high consumer spending, a well-established e-commerce ecosystem, and increasing vehicle customization trends. Europe continues to lead in automotive technological innovations, while the Asia-Pacific market, particularly China, India, and Japan, is witnessing substantial expansion due to rising automotive production capacities and increasing consumer demand for cost-effective aftermarket solutions.
Major Market Players Included in This Report:
• 3M Company
• Continental AG
• Delphi Automotive PLC
• Denso Corporation
• Federal-Mogul Corporation
• HELLA KGaA Hueck & Co.
• Robert Bosch GmbH
• Valeo Group
• ZF Friedrichshafen AG
• Cooper Tire & Rubber Company
• CarParts.com
• Bridgestone Corporation
• Michelin Group
• Magna International Inc.
• Goodyear Tire & Rubber Company
The Detailed Segments and Sub-Segments of the Market Are Explained Below:
By Replacement Part:
• Tire
• Battery
• Brake Parts
• Filters
• Body Parts
• Lighting & Electronic Components
• Wheels
• Exhaust Components
• Turbochargers
• Others
By Distribution Channel:
• Retailers
• OEMs
• Repair Shops
• Wholesalers & Distributors
By Service Channel:
• DIY (Do-It-Yourself)
• DIFM (Do-It-For-Me)
• OE (Original Equipment Manufacturer Delegation)
By Certification:
• Genuine Parts
• Certified Parts
• Uncertified Parts
By Region:
North America
• U.S.
• Canada
• Mexico
Europe
• UK
• Germany
• France
Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
South America
• Brazil
Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
Years considered for the study are as follows:
• Historical year: 2022
• Base year: 2023
• Forecast period: 2024 to 2032
Key Takeaways:
• Market Estimates & Forecast for 10 years from 2022 to 2032.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with country-level insights.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Demand-side and supply-side analysis of the market.
Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook