Global Automotive Aftermarket Report 2022-2026: As OEMs Embrace Customer-Oriented Approach, Dynamics in Aftermarket Market Likely to Change

2022-09-24 10:51:37 By : Mr. rex fang

DUBLIN , July 18, 2022 /PRNewswire/ -- The "Automotive Aftermarket - Global Market Trajectory & Analytics" report has been added to's offering.

Global Automotive Aftermarket Market to Reach $542.1 Billion by 2026

Amid the COVID-19 crisis, the global market for Automotive Aftermarket estimated at US$438.8 Billion in the year 2020, is projected to reach a revised size of US$542.1 Billion by 2026, growing at a CAGR of 3.6% over the analysis period.

Increasing vehicle population, higher vehicle life expectancy and longer car retention continue to fuel growth in the global automotive aftermarket.

Growing percentage of electronic content in automobiles coupled with modern consumers` proclivity to in-car infotainment technologies provides ample opportunities for growth. Automotive electronics such as night-vision devices, global positioning systems (GPS) and reverse and parking-assist systems will become popular targets for market expansion. Increasing customer expectations, technological innovations and growing competition are among the factors driving industry expansion.

More and more OEMs can be seen penetrating into the aftermarket. Increasing consumer awareness pertaining to periodic maintenance, safety, installation of new interior and exterior accessories, convenience and add-on services would also fuel business expansion. The online platform for sales of automotive components would also become more popular in the coming years. Online platforms would enable customers to compare prices and product features prior to the purchase decision.

Mechanical Products, one of the segments analyzed in the report, is projected to grow at a 3.2% CAGR to reach US$228 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Exterior & Structural Products segment is readjusted to a revised 3.1% CAGR for the next 7-year period.

This segment currently accounts for a 18.7% share of the global Automotive Aftermarket market. Bad road conditions and rise in automotive accidents generate demand for tires, rims, and other mechanical products associated with the wheel assembly. Vehicle exterior and structural products such as laminated windows and glass are some of the most common products that are enhanced with advanced versions. The U.S. Market is Estimated at $118.8 Billion in 2021, While China is Forecast to Reach $98.5 Billion by 2026

The Automotive Aftermarket market in the U.S. is estimated at US$118.8 Billion in the year 2021. The country currently accounts for a 26.61% share in the global market. China , the world`s second largest economy, is forecast to reach an estimated market size of US$98.5 Billion in the year 2026 trailing a CAGR of 6.3% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada , each forecast to grow at 1.9% and 2.4% respectively over the analysis period. Within Europe , Germany is forecast to grow at approximately 2.9% CAGR while Rest of European market (as defined in the study) will reach US$104.4 Billion by the end of the analysis period.

The aftermarket in North America will witness increased demand for accessories that meet customers` desire for comfort and appearance i.e. custom seats, mats, hands-free phone kits, Bluetooth car kits, and auto-repair tools.

In Europe , on the other hand, product solutions that enhance the performance and agility features of vehicles, such as, steel-belted radial tires will witness the highest adoption.

In emerging countries, strong automobiles demand would drive growth of automotive aftermarket. Government regulations in these regions are also pressurizing auto component manufacturers to come up with environmentally friendly and highly efficient components. Electrical Products Segment to Reach $93.9 Billion by 2026

The aftermarket represents a large and lucrative market for electrical products such as batteries, alternators, and lighting, among others. The expanding base of on-road vehicle population provides a steady stream of vehicle flow into the aftermarket for upgrades and replacements.

The growing demand among consumers to upgrade their lighting systems for enhanced aesthetic appeal and function also creates demand for electrical connections and accessories for lighting systems in the aftermarket. MARKET TRENDS & DRIVERS

Large Global Base of Vehicle Fleet Offers Potential Opportunities for Aftermarket Products

With Consumers Preferring to Keep their Vehicles for Longer Periods, Market Opportunities Remain Rife

Anticipated Rise in New Car Sales to Shore Up Demand for Aftermarket Enhancements in the Coming Years

Automotive Aftermarket Industry Influenced by Prevailing Diverse Trends

Dynamic Changes on Several Fronts in the Store

As OEMs Embrace Customer-Oriented Approach, Dynamics in Aftermarket Market Likely to Change

Autonomous Vehicles & ADAS to Impact Uptake of Aftermarket Products

Autonomous Vehicle Commercialization & Technology Penetration Timeline

Battery Electric Vehicles to Influence Prospects of Parts Aftermarket

Predictive Maintenance: New Norm in the Automotive Aftermarket Market

High Passenger Car Density in Developed Regions Spurs Opportunities

Growing Lenience Towards Small Affordable Cars in Developing Markets Bodes Well

New Technologies Keep Aftermarket Players on Their Toes

Pre-Owned Cars & Auto Leasing Drives Growth

Bad Road Conditions & Rise in Automotive Accidents Generate Demand for Aftermarket Parts

Rising Consumer Awareness on Vehicle Maintenance Boosts Market Prospects

DIY Customers Lending Traction to the Market

Market Attributes for Auto Parts in DIY Segment

Growing Demand for DIFM Services Turn Service Providers into Target Customers for Aftermarket Products

Aftermarket Products Made in Asia Gain Importance in Global Market

With Low Price Tag, Asian Make Aftermarket Products Sustain Momentum

Emphasis on Product Innovation & Advancements Augurs Well

Remanufactured Aftermarket Parts & Components Gain Prominence

Remanufactured Starters & Alternators Continue to Find Significant Demand

Green House Gas Emissions (in kgCO2-eq) by Type of Manufacturing Activity: Remanufacturing with Secondary Material, New Production with Secondary Material, Remanufacturing with Primary Material and New Production with Primary Material

Waste Generated (in Kgs) by Type of Manufacturing Activity: Remanufacturing and New Product Manufacturing

Breakdown of the Real and Resorted Value of Material, Labor, Energy and Plant & Equipment (in %) for New Product and Remanufactured Product

Demographic Trends to Underpin Future Revenue Growth

Urban Sprawl: Prominent Driver for Automotive Industry & Aftermarket Market

Middle Class Segment Emerges as Major Consumer Group


Mechanical Products: Dominant Product Category

Aftermarket Radiators Segment Witnesses Robust Demand

Aftermarket Brake Shoes & Brake Pads Market: A Review

Regulatory Guidelines Dictate Material Selection in Brake Friction Products

Focus on Light-Weight and Non-Toxic Friction Material

Ceramic Brake Pads Make their Way into the Market

Concerns Over Automotive Emissions Steer Demand for Aftermarket Air Filters

Cabin Air Filters Replacement Demand Also Means Easy Money for Service Providers

Finer Separation Designs with Reduced Energy Consumption Come to the Fore

Nanotechnology Powered Air Filters to Gain Attention

A Look into Aftermarket Fuel Pumps Market

Stringent Emission Regulations Drive Regular Electric Fuel Pumps Replacements

Aftermarket Gear Shifters & Drives Find Considerable Demand

Aftermarket Electronic Products: High Growth Segment

Vehicle Electronification Trend to Intensify the Demand for Aftermarket Automotive Electronics in the Coming Years

Connected Cars Solidify the Relevance of Integrated Electronic Parts

Robust Opportunities in On-Board Aftermarket Infotainment & Electronic Systems Vertical

Desire to Replace Obsolete Audio Systems Driving Demand for New Age Replacements

Integrated Entertainment Devices Growing in Popularity

In-Car Streaming Radio: A Promising Segment

Entertainment Becomes Punchier With Aftermarket Infotainment Systems

Global Automotive Infotainment Systems Market (2019): Percentage Share Breakdown of OEM & Aftermarket Segments

Aftermarket Automobile Navigation Systems Gain Popularity

Aftermarket GPS Systems Commands Increasing Usage in Fleet Management

Aftermarket GPS Car Security Systems: Getting Smaller and Simpler

Vehicle Security Systems: Auto Producers Storm into Aftermarket Security Systems Market

Aftermarket Exterior & Structural Products: Driven Mostly By Tires

Retreaded Tires Grow in Popularity in Aftermarket

Vehicular Wiper Systems: Advanced Sensors Augment Usability

Wiper Blades: Main Replacement Component

Universal Fit Aftermarket Wiper Systems Grow in Popularity

Growing Demand in DIY Segment

Pricing: The Main Competitive Variable for Aftermarket Wiper Systems

Factors Influencing Wiper Purchases in Aftermarket - on a Scale of 1 to 10

Growing Preference for Integrated Systems

Aftermarket Rear Wiper Systems: Untapped Opportunity in Low Cost Car Segment

Rise in Demand for Quieter, Lighter and Cleaner Windshield Systems

Aftermarket Electrical Products: Batteries Remain Extremely Relevant

Dominance of Automotive Lead Acid Battery Remains Even More Clear in Aftermarket Market

New Age Cars to Drive Battery Replacement Demand

Advanced Vehicular Lighting Systems Augment Aftermarket Demand

Product Developments & Technology Innovations to Continue in Aftermarket Liging Systems Vertical

Aftermarket Motor Oil, Fluids & Additives: A Compulsion for Healthy Operation of the Vehicle

Emission Regulations Accelerate Adoption of High-Quality Aftermarket Lubricants

Engine Oils: Major Revenue Generators

Recycled Oils Score Over Virgin Oils

Products Specifically Developed for and Used by Specific End Users

Additives Continue to Make Gains

Aftermarket Appearance Chemicals Seek Opportunities

Luxury Cars: Primary Target Segment for Appearance Chemicals

Growing Investments on Vintage & Classic Cars Augurs Well

Counterfeit Products Pose a Threat to the Market

Casual Attitude of Customers Towards Replacement of Parts

Extended Life of OEM Engine & Transmission Systems Hampers Growth

Extended Warranties Hinder Prospects of Independent Service Providers

New & Advanced OEM Fittings Threaten Aftermarket Opportunities

Longer Drain Times Quell Demand for Lubricant Refills

Lower Crankcase Capacities too Reduce Quantity of Lubricants & Oil Consumption

FOCUS ON SELECT PLAYERS (Total 186 Featured) 

American Axle & Manufacturing, Inc.

Compagnie Generale des Etablissements Michelin

Cooper Tire & Rubber Company

Goodyear Tire & Rubber Company

Grupo Kuo , S.A.B. de C.V.

HELLA KGaA Hueck & Co.

Pirelli & C. S.p.A.

NGK Spark Plug Co., Ltd.

For more information about this report visit

Research and Markets Laura Wood , Senior Manager

For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904 Fax (outside U.S.): +353-1-481-1716


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