Base Year
Historical Year
Forecast Year
The global automotive aftermarket market reached a value of about USD 503.29 billion in 2023. The market is further estimated to grow at a CAGR of 4.6% in the forecast period of 2024-2032 to reach a value of around USD 754.41 billion by 2032.
| Global Automotive Aftermarket Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 503.29 |
| Market Size 2032 | USD Billion | 754.41 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 4.6% |
| CAGR 2024-2032 - Market by Region | North America | 4.7% |
| CAGR 2024-2032 - Market by Country | UK | 7.2% |
| CAGR 2024-2032 - Market by Country | Canada | 5.4% |
| CAGR 2024-2032 - Market by Replacement Part | Tyre | 5.2% |
| CAGR 2024-2032 - Market by Vehicle | Passenger Vehicles | 5.7% |
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Based on the distribution channel, the thriving OEM segment is driving the market for automotive aftermarket owing to their expanding presence in the aftermarket activities. The OEMs' investments in customer experience optimisation efforts are bolstering the market expansion. In addition, the initiatives of OEMs in creating their own networks of non-car brand-specific repair shops and introducing second service formats or remanufactured parts to compete with independent market players are providing impetus to the market development of automotive aftermarket. Moreover, the digitalisation of internal processes and customer interfaces is adding value to OEMs which is resulting in the burgeoning of the market for the automotive aftermarket. Also, the ability of OEMs to develop superior analytical capabilities and the increasing ownership of propriety data, leverage cars through connectivity control is leading to the augmenting of the market. Further, OEMs' partnerships and new ventures are expected to aid the market for the automotive aftermarket in the forecast period.
The automotive aftermarket is a secondary market related to the automobile industry that deals with the manufacturing, distribution, retailing and installation of vehicle parts after the sale of the vehicle from the original equipment manufacturer. The aftermarket helps to optimise the utility of an automobile with several innovative services.
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The market for automotive aftermarket, by replacement part, is divided into:
Based on vehicle, the market is classified into:
On the basis of propulsion, the market is segmented into:
Based on distribution channel, the market is divided into:
On the basis of service channel, the market is bifurcated into:
Based on certification, the market is classified into:
| CAGR 2024-2032 - Market by | Country |
| UK | 7.2% |
| Canada | 5.4% |
| USA | 4.6% |
| Germany | 3.8% |
| France | 3.8% |
| Italy | 3.0% |
| China | XX% |
| Japan | XX% |
| India | XX% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
The regional markets for automotive aftermarket can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The growing awareness among customers regarding the importance of scheduled servicing and preventive maintenance is leading to the increasing demand for aftermarket parts and services, thereby invigorating the market for the automotive aftermarket. In addition, the expanding automotive industry and the rising sales of vehicles are contributing to the market growth of the automotive aftermarket. Moreover, automotive aftermarket services play a critical role in prolonging the life of vehicles and maximising the lifetime value of vehicles. The higher transparency of prices and offering of diverse automobile parts provides the customers with options, which is providing impetus to the market expansion of automotive aftermarket. Also, the digitalisation of automotive aftermarket and the incorporation of new services is significantly catalysing the market development. The digital channels and interfaces help the market players to connect to the customers and boost sales, thus accelerating the market expansion of the automotive aftermarket. Further, the investments made by the governments worldwide in areas related to vehicles and automotive parts are anticipated to impel the market for the automotive aftermarket in the forecast period.
The report gives a detailed analysis of the following key players in the global automotive aftermarket market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Replacement Part |
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| Breakup by Vehicle |
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| Breakup by Propulsion |
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| Breakup by Distribution Channel |
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| Breakup by Service Channel |
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| Breakup by Certification |
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| Breakup by Region |
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| Market Dynamics |
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| Trade Data Analysis |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global automotive aftermarket market attained a value of nearly USD 503.29 billion.
The market is assessed to grow at a CAGR of 4.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach almost USD 754.41 billion by 2032.
The major industry drivers include the digitalisation of automotive aftermarket, growing awareness among customers about the improved services and diverse automobile parts offered by aftermarket, strong presence of OEMs, and the importance of aftermarket in maximising the lifetime value of vehicles.
The key industry trends guiding the growth of the market include the demand for automotive aftermarket parts and services, government investments in expanding automobile industry, and the increasing production and sales of vehicles.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant replacement parts available in the market include tyre, battery, brake parts, filters, body parts, lighting and electronic components, wheels, exhaust components, and turbochargers, among others.
The various market divisions, based on vehicle, include passenger vehicles and commercial vehicles.
The major market divisions, based on propulsion, include IC-engine and electric, among others.
The different distribution channels of the market include the authorised channel and OEM.
The various service channels of the market include the do it yourself (DIY) and do it for me (DIFM).
The significant market divisions, based on certification, include genuine parts, certified parts, and uncertified parts.
The major players in the industry are the Continental AG, The Goodyear Tire & Rubber Company, Delphi Technologies (BorgWarner Inc.), DENSO Corporation, Robert Bosch GmbH, and ZF Friedrichshafen AG, among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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