Automotive Parts Aftermarket to Record Rise in Incremental Opportunity During the Forecast Period 20

Author : Ajaykumar Patil | Published On : 17 Jan 2022

Huge Demand of Global Automotive Parts Aftermarket Market during 2021-2031

New Study Reports ” Automotive Parts Aftermarket Market 2021: Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast To 2031″ has been Added on MarketResearchFuture.

Report Overview

The report on the Automotive Parts Aftermarket Market provided based on the recent developments and data that has been collated from the previous year’s looks to provide a thorough understanding. The market overview provided in the initial section looks to provide the reader with adequate information regarding the product and services. It focuses on the market definition along with the product applications and end-user industries. The report covers a period spanning from 2021 to 2031. Competitive analysis and prominent industry trends have been included in the in-depth study provided in the main section of the report.

The global automotive parts aftermarket is projected to progress at a CAGR of 5.4% over the forecast period of 2021-2031, as per latest analysis by Persistence Market Research.

Demand for automotive parts in the aftermarket is being aided by increased maintenance and repair activities carried out by vehicle owners because stock vehicle parts suffer wear and tear over a period of time. Air filters, fuel filters, and spark plugs, as well as brake pads, are more likely to be replaced at regular intervals.

Governments all over the world have enacted strict car emission standards that require product manufacturers to provide ecologically sustainable and high-performing parts for both, local and international markets, which is expected to drive demand of automotive parts. The automobile parts industry has seen significant expansion in recent years, with rising economies such as China, India, and Brazil expected to drive worldwide market growth.

Market players are rapidly innovating and bring in new, advanced parts into the aftermarket:

  • In June 2021, Michelin introduced new winter tires for trucks, named “Michelin X Multi Grip”. These tires deliver better performance and ensure maximum safety in extreme weather conditions such as snow- and slush-covered roads as well as wet roads.
  • In Feb 2021, Gabriel India Limited developed the first adjustable electronic hydraulic shock absorber for a leading SUV vehicle in the aftermarket sector.

Key Players:

The report has profiled some of the Important players prevalent in the global like – Robert Bosch GmbH, ZF Friedrichshafen AG, Hella KGaA Hueck & Co., NGK Spark Plug, Exide Technologies, Gabriel India Limited, Hitachi Astemo, Ltd., KYB Corporation, Tenneco, Inc., Denso Corporation, Magna International, Continental AG, Valeo SA, Bridgestone, Michelin, Goodyear, Pirelli, Mahle GmbH, BorgWarner, OSRAM Licht AG, Knorr-Bremse, and Aisin Corporation and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Automotive Parts Aftermarket.

Request for Free Sample Report of “Automotive Parts Aftermarket” Market @ https://www.persistencemarketresearch.com/samples/32832                                        

automotive-parts-aftermarket                                                                                                                                                            

Key Takeaways from Market Study

  • At a CAGR of 6.7%, electrical parts is projected to be the fastest-growing product segment through 2031.
  • Tires are expected to have the highest share in the product segment, with nearly 42% market share by 2031.
  • By vehicle, passenger cars are projected to be the segment leader with a market share of more than 64%.
  • By Region, Europe is projected to have the highest share in the global market accounting to more than 34%. Germany is expected to hold nearly 29% of the European market share by 2031.
  • The market in the Middle East & Africa region is projected to expand at the fastest CAGR of 6.2%
  • The U.S. is projected to register the highest absolute $ opportunity of more than US$ 44 Bn from 2021 to 2031.
  • By sales channel, authorized dealers are anticipated to lead with more than 45% share of the market.

“Incentives from governments, rising local demand, and readily available raw materials are expected to be key drivers for the development of the automotive sector, which is anticipated to drive demand for automotive parts in the aftermarket,” says a Persistence Market Research analyst.

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders
Automotive Parts Aftermarket Market Manufacturers
Automotive Parts Aftermarket Market Distributors/Traders/Wholesalers
Automotive Parts Aftermarket Market Subcomponent Manufacturers
Industry Association
Downstream Vendors

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View Report Table of Contents, Figures, and Tables

Major Highlights of the Automotive Parts Aftermarket Market Report:

  • The Automotive Parts Aftermarket Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
  • The report dives deeper into the market and explains the dynamic factors bolstering market growth.
  • The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
  • The report analyzes the Automotive Parts Aftermarket Market presence across major regions of the world.
  • It determines the production & consumption capacities and demand & supply dynamics of each regional market.
  • The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
  • It provides company overview and SWOT analysis of each of the market players.

Key Questions Answered in This Report.

  • What will the Market growth rate in Future?
  • What are the key factors driving the global Market?
  • Who are the key manufacturers in Market space?
  • What are the opportunities and threats faced by the vendors in the global industry?
  • What are sales, revenue, and price analysis by regions of industry?

If you have any special requirements, please let us know and we will offer you the report as you want and also We Provide you Table of Content.

Click Here to Buy this Report https://www.persistencemarketresearch.com/checkout/32832                                                                                                                                                                                             

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