Automotive Aftermarket Market to grow by USD 211.53 billion | Rising Number of Automotive Consumers to Boost Growth | 17000+ Technavio Reports | State
NEW YORK, Nov. 29, 2021 /PRNewswire/ — The automotive aftermarket market is set to grow by USD 211.53 billion from 2021 to 2026. However, the growth momentum is likely to decelerate at a CAGR of 4.39% according to the latest report by Technavio.
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Automotive Aftermarket Market 2022-2026: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our automotive aftermarket market report covers the following areas:
Automotive Aftermarket Market 2022-2026: Vendor Analysis
The market is fragmented, and the degree of fragmentation will decelerate during the forecast period. 3M Co., Aptiv Plc, Continental AG, Cooper Tire and Rubber Co., DENSO Corp., HELLA GmbH and Co. KGaA, Robert Bosch GmbH, Tenneco Inc., Valeo SA, and ZF Friedrichshafen AG are some of the major market participants.
Automotive Aftermarket Market 2022-2026: Drivers & Challenges
The rising number of automotive consumers and the advancement in automotive technology will offer immense growth opportunities. However, the shutdown of manufacturing and production units will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Automotive Aftermarket Market 2022-2026: Segmentation
- Type
- Passenger cars
- Commercial vehicles
- Geography
- APAC
- Europe
- North America
- South America
- MEA
Automotive Aftermarket Market 2022-2026: Key Regions & Revenue Generating Segment
36% of the market’s growth will originate from APAC. China, Japan, and India are the key markets for the automotive aftermarket market in the region. The increasing preference toward the replacement of OEM parts/products will facilitate the automotive aftermarket market growth in APAC.
The automotive aftermarket market share growth by the passenger cars segment has been significant for revenue-generating. Technavio report provides an accurate prediction of the contribution of all the segments to the growth of the automotive aftermarket market size.
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Automotive Aftermarket Market 2022-2026: Key Highlights
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will assist automotive aftermarket market growth during the next five years
- Estimation of the automotive aftermarket market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automotive aftermarket market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automotive aftermarket market vendors
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Automotive Aftermarket Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 4.39% |
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Market growth 2022-2026 |
USD 211.53 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
7.48 |
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Regional analysis |
APAC, Europe, North America, South America, and MEA |
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Performing market contribution |
APAC at 36% |
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Key consumer countries |
China, US, Japan, Germany, and India |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
3M Co., Aptiv Plc, Continental AG, Cooper Tire and Rubber Co., DENSO Corp., HELLA GmbH and Co. KGaA, Robert Bosch GmbH, Tenneco Inc., Valeo SA, and ZF Friedrichshafen AG |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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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SOURCE Technavio
