The report "Automotive Aftermarket for Top 10 Components (Tire, Fluid, Filter, Battery, Brake, Collision Body, Lighting, Spark Plug, Telematics, Bearings), Vehicle Type (Passenger Car and Commercial Vehicle), and Region - Global Trends and Forecast to 2021", The automotive aftermarket for top 10 components is projected to grow at a CAGR of 7.75%, to reach a market size of USD 302.64 Billion by 2021. The market is driven by factors such as rising average age of vehicles in operation, increasing vehicle sales and parc, and increased miles driven per year.
Browse 67 market data tables and 26 figures spread through 99 pages and in-depth TOC on “Automotive Aftermarket for Top 10 Components (Tire, Fluid, Filter, Battery, Brake, Collision Body, Lighting, Spark Plug, Telematics, Bearings), Vehicle Type (Passenger Car and Commercial Vehicle), and Region - Global Trends and Forecast to 2021"
Early buyers will receive 10% customization on reports.
“Asia-Oceania to be the largest aftermarket for top 10 automotive components”
Asia-Oceania is expected to dominate the aftermarket for the top 10 automotive components, and is projected to grow at the highest CAGR during the forecast period. Asia-Oceania has created promising opportunities for automobile aftermarket manufacturers and product suppliers. Increasing income levels and rapid urbanization is expected to push the aftermarket by leading to growth in vehicle sales. With a wide spread web of aftermarket distribution channels in emerging markets such as India and China, amongst other Asia-Oceanic countries, the automotive component aftermarket has witnessed high growth.
“Passenger cars to be the largest segment in the aftermarket for top 10 automotive components”
Passenger cars are expected to dominate the aftermarket for the top 10 automotive components, and is projected to grow at the highest CAGR during the forecast period. Passenger cars in use has witnessed a positive growth over the past few years, with the global vehicle parc for passenger cars growing at a rate of 4% from 2013 to 2014, according to OICA. The frontrunner was Asia-Oceania, with a growth in vehicle parc for passenger cars of about 8.6% from 2013 to 2014. With a rise in automotive e-business, automotive supermarkets, and other multi-branded business models, the automotive components aftermarket has seen an increased demand, especially for the passenger cars segment.
“Remote vehicle diagnostics to be the fastest growing segment in the top 10 automotive components aftermarket”
The remote vehicle diagnostics segment is projected to grow at the highest CAGR during the forecast period. The growth of the application of remote vehicle diagnostics is influenced by factors such as the rising demand for technology from passenger as well as commercial fleet operators and increasing stringency in emission and fuel economy regulations. For instance, Euro 6 standards limit CO emissions to 0.50 g/km (which was 0.64 g/km in EURO 3) and NOX to 0.25 g/km (which was 0.50 g/km) for passenger cars. This has led the demand for a number of warning notification lights that provide real-time alerts about fuel consumption and sometimes emission-related defects.
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: [email protected]