Wholesale & Distribution Automotive Aftermarket Industry Size, Share & Trends Analysis Report By Replacement Part (Tire, Battery, Brake Parts, Filters, Body Parts, Lighting & Electronic Components) And Segment Forecasts, 2023 - 2030

Wholesale & Distribution Automotive Aftermarket Industry Size, Share & Trends Analysis Report By Replacement Part (Tire, Battery, Brake Parts, Filters, Body Parts, Lighting & Electronic Components) And Segment Forecasts, 2023 - 2030

Wholesale & Distribution Automotive Aftermarket Industry Growth & Trends

The global wholesale & distribution automotive aftermarket size is expected to reach USD 342.72 billion by 2030, growing at a CAGR of 4.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Digitalization of automotive repair & component sales, complemented with advanced technology incorporations in the automobile aftermarket component manufacturing, is expected to boost the market growth. The surging reception of semi-autonomous, electric vehicles, and hybrid & autonomous cars in the years to come is further expected to bolster the new component market growth. The market has been categorized based on replacement parts into tire, battery, brake parts, filters, body parts, lighting & electronic components, wheels, exhaust components and other replacement parts

The increasing vehicle penetration is driven by the overall improvement of lifestyle in developing countries, such as India and Brazil, and is expected to drive the growth of the automobile industry in these countries. Similar surges in the automotive manufacturing sector across various regions, along with increasingly stringent norms regarding emissions, are expected to drive the growth of automotive aftermarket component sales over the forecast period.

The Asia Pacific regional market is expected to be the fastest-growing 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 the growing penetration and acceptance of gas and hybrid electric cars, the number of specialized repair centers dedicated toward repair of particular vehicles is expected to increase.

The wholesale & distribution automotive aftermarket is expected to witness tremendous growth due to an upsurge in the number of vehicle collisions along with the inclination of owners toward repairing automobiles.

Wholesale & Distribution Automotive Aftermarket Industry Report Highlights

• The tire segment accounted for the largest revenue share of 22.8% in 2022. Tires are one of the first automotive parts that need replacement due to friction and wear & tear.
• The filters segment is expected to grow at the fastest CAGR of 6.4% during the forecast period. The auto filter prevents harmful debris from entering into the air and fluid flows of the vehicle, such as radiator, engine, and fuel lines.
• North America dominated the market and accounted for the largest revenue share of 24.8% in 2022. Growth in the region is due to a number of factors, including the large and mature automotive industry, the high vehicle ownership rate, the growing demand for used cars, and technological advancements.
• Asia Pacific is expected to grow at the fastest CAGR of 8.6% during the forecast period. The increasing vehicle penetration is driven by the overall improvement in lifestyles in developing countries, such as India and Brazil. This is expected to drive the growth of the automobile industry in the region.

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