Aftermarket automotive parts and components market size to grow by USD 86.64 billion from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio

NEW YORK, Jan. 31, 2023 /PRNewswire/ -- The global aftermarket automotive parts and components market size is estimated to increase by USD 86.64 billion from 2022 to 2027. The market's growth momentum will accelerate at a CAGR of 3.54% during the forecast period. The growing availability of aftermarket automotive parts and components on e-commerce platforms is a key trend in the market. There has been a shift toward online platforms, with the increasing online retail parts sales. The advantages of using e-commerce platforms for aftermarket automotive parts and components, such as the ability to research and compare products, access to detailed product specifications, and ease of purchase, are driving the revenues generated through online sales. This, in turn, will support the growth of the market during the forecast period. - Request a sample report

Global aftermarket automotive parts and components market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Global Aftermarket automotive parts and components market – Vendor Analysis
Vendor offerings -

• 3M Co. - The company offers various aftermarket automotive parts and components such as mirror buttons, lighting, polishing compounds, and insulation foam sheets.
• ANAND Group - The company offers various aftermarket automotive parts and components such as chassis, car care products, powertrains, and transmission fluids.
• Continental AG - The company offers various aftermarket automotive parts and components such as brake fluids, wheel speed sensors, brake pads, tire pressure monitoring system sensors, and brake master cylinders.
• For details on vendors and their offerings – Buy the report

Vendor landscape

The global aftermarket automotive parts and components market is fragmented, with the presence of some well-diversified international and a few regional players. A few prominent vendors that offer aftermarket automotive parts and components in the market are 3M Co., Aisin World Corp. of America, ANAND Group, BorgWarner Inc., Continental AG, Delphi Technologies Plc, DENSO Corp., DRiV Incorporated, HELLA GmbH and Co. KGaA, Hitachi Astemo Ltd., Knorr Bremse AG, MagnetiMarelliS.p.A, MAHLE GmbH, Motherson Sumi Systems Ltd., NGK Spark Plugs USA, Inc., OSRAM GmbH, Robert Bosch GmbH, Tenneco Inc., Valeo SA, and ZF Friedrichshafen AG  and others.

There is intense competition among market players. Key vendors in the market are increasing their investments in new technologies. The global aftermarket automotive parts and components market has a large number of aftermarket automotive part and component providers. It is characterized by several technological innovations, which are expected to increase during the forecast period. Moreover, investments in developing innovative features and designs are expected to continue. This will intensify competition among existing and new players.

Global aftermarket automotive parts and components market - segmentation Assessment

Segment overview
Technavio has segmented the market based on product (tire, brake parts, battery, filter, and others) and distribution channel (retail and wholesale). 

• The tire segment will account for a significant share of the market's growth during the forecast period. The demand for aftermarket tires is high globally. The aging vehicle population in developed mature automobile markets, such as Japan, the US, and Western Europe, is contributing to this demand. In addition, road conditions in emerging countries such as India make vehicles more susceptible to breakdown and wear and tear of tires. This leads to a demand for aftermarket fitments. As a result, the demand for aftermarket tires is increasing steadily in the region.

Geography overview
Based on geography, the global aftermarket automotive parts and components market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global aftermarket automotive parts and components market.

• APAC is estimated to account for 38% of the growth of the global market during the forecast period. China, India, and Japan are the key revenue-contributing countries in the market. These countries are high-volume adopters of vehicles. Factors such as increasing disposable incomes in emerging economies have led to a rise in the number of vehicle buyers. Thus, the automotive industry in the region contributes significantly to the demand for vehicle roadside assistance services.

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Global aftermarket automotive parts and components market – Market dynamics

Leading drivers - The increasing number of vehicles globally is driving market growth. The demand for automotive repair and maintenance services is rising, with the increase in the lifespan of vehicles. In addition, passenger cars and utility vehicles, such as sports-utility vehicles (SUVs), multi-purpose vehicles (MPVs), crossovers, and pickup trucks, are popular in the global automotive market. These vehicles need regular maintenance to function properly. Such factors will positively impact the growth of the market during the forecast period.

Major challenges - The growing shortage of skilled automotive technicians is challenging the market growth. The shortage is a result of the lack of a strong career path, the disparity in pay packages, and long working hours, which are making it difficult for professional automotive repair shops to attract and retain skilled technicians. According to the US Bureau of Labor Statistics, the automotive industry in the US will need about 46,000 skilled automotive technicians by 2026. This shortage is expected to increase, as the demand for automotive repair and maintenance services continues to rise. Therefore, the shortage of skilled automotive technicians will negatively impact the growth of the market during the forecast period.

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this aftermarket automotive parts and components market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the aftermarket automotive parts and components market between 2023 and 2027
• Precise estimation of the size of the aftermarket automotive parts and components market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the aftermarket automotive parts and components market across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of aftermarket automotive parts and components market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global aftermarket automotive parts and components market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global aftermarket automotive parts and components market 2017 - 2021 ($ billion)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments 
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Tire - Market size and forecast 2022-2027
• Exhibit 34: Chart on Tire - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Tire - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Tire - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Tire - Year-over-year growth 2022-2027 (%)

• 6.4 Brake parts - Market size and forecast 2022-2027
• Exhibit 38: Chart on Brake parts - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Brake parts - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Brake parts - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Brake parts - Year-over-year growth 2022-2027 (%)

• 6.5 Battery - Market size and forecast 2022-2027
• Exhibit 42: Chart on Battery - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Battery - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Battery - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Battery - Year-over-year growth 2022-2027 (%)

• 6.6 Filter - Market size and forecast 2022-2027
• Exhibit 46: Chart on Filter - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Filter - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Filter - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Filter - Year-over-year growth 2022-2027 (%)

• 6.7 Others - Market size and forecast 2022-2027
• Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by Product 
• Exhibit 54: Market opportunity by Product ($ billion)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments 
• Exhibit 55: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 56: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 57: Chart on Comparison by Distribution Channel
• Exhibit 58: Data Table on Comparison by Distribution Channel

• 7.3 Retail - Market size and forecast 2022-2027
• Exhibit 59: Chart on Retail - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Retail - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Retail - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Retail - Year-over-year growth 2022-2027 (%)

• 7.4 Wholesale - Market size and forecast 2022-2027
• Exhibit 63: Chart on Wholesale - Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on Wholesale - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on Wholesale - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Wholesale - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel
• Exhibit 67: Market opportunity by Distribution Channel ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 109: Chart on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 110: Data Table on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 111: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 3M Co. 
• Exhibit 120: 3M Co. - Overview
• Exhibit 121: 3M Co. - Business segments
• Exhibit 122: 3M Co. - Key offerings
• Exhibit 123: 3M Co. - Segment focus

• 12.4 ANAND Group 
• Exhibit 124: ANAND Group - Overview
• Exhibit 125: ANAND Group - Business segments
• Exhibit 126: ANAND Group - Key offerings
• Exhibit 127: ANAND Group - Segment focus

• 12.5 Continental AG 
• Exhibit 128: Continental AG - Overview
• Exhibit 129: Continental AG - Business segments
• Exhibit 130: Continental AG - Key offerings
• Exhibit 131: Continental AG - Segment focus

• 12.6 Delphi Technologies Plc 
• Exhibit 132: Delphi Technologies Plc - Overview
• Exhibit 133: Delphi Technologies Plc - Business segments
• Exhibit 134: Delphi Technologies Plc - Key offerings
• Exhibit 135: Delphi Technologies Plc - Segment focus

• 12.7 DENSO Corp. 
• Exhibit 136: DENSO Corp. - Overview
• Exhibit 137: DENSO Corp. - Business segments
• Exhibit 138: DENSO Corp. - Key news
• Exhibit 139: DENSO Corp. - Key offerings
• Exhibit 140: DENSO Corp. - Segment focus

• 12.8 DRiV Incorporated 
• Exhibit 141: DRiV Incorporated - Overview
• Exhibit 142: DRiV Incorporated - Product / Service
• Exhibit 143: DRiV Incorporated - Key offerings

• 12.9 HELLA GmbH and Co. KGaA 
• Exhibit 144: HELLA GmbH and Co. KGaA - Overview
• Exhibit 145: HELLA GmbH and Co. KGaA - Business segments
• Exhibit 146: HELLA GmbH and Co. KGaA - Key news
• Exhibit 147: HELLA GmbH and Co. KGaA - Key offerings
• Exhibit 148: HELLA GmbH and Co. KGaA - Segment focus

• 12.10 Hitachi Astemo Ltd. 
• Exhibit 149: Hitachi Astemo Ltd. - Overview
• Exhibit 150: Hitachi Astemo Ltd. - Product / Service
• Exhibit 151: Hitachi Astemo Ltd. - Key offerings

• 12.11 MagnetiMarelliS.p.A 
• Exhibit 152: MagnetiMarelliS.p.A - Overview
• Exhibit 153: MagnetiMarelliS.p.A - Product / Service
• Exhibit 154: MagnetiMarelliS.p.A - Key offerings

• 12.12 Motherson Sumi Systems Ltd. 
• Exhibit 155: Motherson Sumi Systems Ltd. - Overview
• Exhibit 156: Motherson Sumi Systems Ltd. - Business segments
• Exhibit 157: Motherson Sumi Systems Ltd. - Key news
• Exhibit 158: Motherson Sumi Systems Ltd. - Key offerings
• Exhibit 159: Motherson Sumi Systems Ltd. - Segment focus

• 12.13 NGK Spark Plugs USA, Inc. 
• Exhibit 160: NGK Spark Plugs USA, Inc. - Overview
• Exhibit 161: NGK Spark Plugs USA, Inc. - Product / Service
• Exhibit 162: NGK Spark Plugs USA, Inc. - Key offerings

• 12.14 Robert Bosch GmbH 
• Exhibit 163: Robert Bosch GmbH - Overview
• Exhibit 164: Robert Bosch GmbH - Business segments
• Exhibit 165: Robert Bosch GmbH - Key offerings
• Exhibit 166: Robert Bosch GmbH - Segment focus

• 12.15 Tenneco Inc. 
• Exhibit 167: Tenneco Inc. - Overview
• Exhibit 168: Tenneco Inc. - Business segments
• Exhibit 169: Tenneco Inc. - Key news
• Exhibit 170: Tenneco Inc. - Key offerings
• Exhibit 171: Tenneco Inc. - Segment focus

• 12.16 Valeo SA 
• Exhibit 172: Valeo SA - Overview
• Exhibit 173: Valeo SA - Business segments
• Exhibit 174: Valeo SA - Key news
• Exhibit 175: Valeo SA - Key offerings
• Exhibit 176: Valeo SA - Segment focus

• 12.17 ZF Friedrichshafen AG 
• Exhibit 177: ZF Friedrichshafen AG  - Overview
• Exhibit 178: ZF Friedrichshafen AG  - Product / Service
• Exhibit 179: ZF Friedrichshafen AG  - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 180: Inclusions checklist
• Exhibit 181: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 182: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 183: Research methodology
• Exhibit 184: Validation techniques employed for market sizing
• Exhibit 185: Information sources

• 13.5 List of abbreviations 
• Exhibit 186: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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