U.S. Automotive Aftermarket Size, Share & Trends Analysis Report By Replacement Part, By Distribution Channel (Retailers, Wholesalers), By Service Channel, By Certification, And Segments Forecasts, 2019 - 2025

Published: Oct, 2019 | Pages: 109 | Publisher: Grand View Research
Industry: Automotive | Report Format: Electronic (PDF)

The U.S. automotive aftermarket size is expected to reach USD 86.2 billion by 2025, registering a 1.8% CAGR from 2019 to 2025, according to a new study by Grand View Research, Inc. The market is expected to grow owing to the rising adoption of automotive technologies such as exhaust and safety technologies coupled with other aspects influencing vehicular performance. The market is estimated to remain innovation-led with the introduction of new chemicals and metals that provide cost-efficiency and weight reduction in automobiles. In addition, the increasing vehicle parc and vehicle age in the U.S. are expected to contribute to the growing demand for replacement parts, thus driving market growth in the country.

Rising disposable income in the U.S. is creating a positive growth outlook for the sales of passenger cars. The increasing demand for aftermarket parts is directly proportional to the growing sales of passenger cars. Moreover, factors such as developing infrastructure and increasing adoption of modern lifestyle across the country are contributing to the growth of automotive aftermarket. Technological proliferation and high investments in R&D by automakers are expected to further drive demand for automotive aftermarket components over the forecast period. Furthermore, increasing trade activities of goods and materials via road transportation are expected to fuel the demand for heavy commercial vehicles. This, in turn, is likely to result in the high demand for products such as tires, towing, wheels, and other miscellaneous accessories, thereby contributing to the market growth in future.

Efforts taken by vendors to make aftermarket products available in adequate quantities and improve the quality of recycled products have contributed to the high demand for alternative parts such as engines; door assemblies; transmissions; sheet metal products such as fenders, trunk lids, and hoods; bumpers; and lights assemblies. In addition, maintaining a high inventory level and wide distribution network allows higher fulfillment rates, which is also boosting the sales of alternative parts. However, the increasing adoption of hybrid and electric vehicles is hampering the growth opportunities for automotive aftermarket components, mainly exhaust components. As a result, the threat of substitutes for aftermarket parts is expected to remain high over the forecast period.

Further key findings from the report suggest:

• The rise in sales of automobiles, increased purchasing power, and improved standard of living are expected to drive growth for the automotive aftermarket industry.

• Increasing consumer awareness regarding environment protection and the use of environment-friendly products with minimum carbon footprint deliver positive growth prospects for the market

• The tire segment is anticipated to dominate the market by 2025 on account of frequent changing of tires in comparison to their automotive component counterparts

• The automotive aftermarket is shifting toward the automation of various functions and processes as automation increases accuracy, enhances efficiency, improves workplace safety, and reduces human errors

• The trend of combining Industry 4.0 with information technology and operational technology has resulted in a landscape governed by supply chain digitalization, creating a sustainable impact on the automotive aftermarket industry

 Table of Contents

Chapter 1 Methodology and Scope
                 1.1 Research Methodology
                 1.2 Research Scope & Assumptions
                 1.3 List of Data Sources

Chapter 2 Executive Summary
                 2.1 U.S. Automotive aftermarket - Market Snapshot & Key Buying Criteria, 2014 - 2025

Chapter 3 U.S. Automotive Aftermarket Variables, Trends & Scope
                 3.1 Market Segmentation & Scope
                 3.2 U.S. Automotive Aftermarket Size and Growth Prospects
                 3.3 U.S. Automotive Aftermarket - Value Chain Analysis
                     3.3.1 U.S. Automotive aftermarket - Supply chain analysis
                 3.4 Market Dynamics
                     3.4.1 Market Driver Analysis
                         3.4.1.1 Use of advanced technology in auto parts fabrication
                         3.4.1.2 Surge in consumer and passenger automobile production
                         3.4.1.3 Digitalization of automotive repair & maintenance services
                         3.4.1.4 Increasing stringency of emission & fuel efficiency regulations and engine downsizing
                     3.4.2 Market Restraint Analysis
                         3.4.2.1 Growing demand for electric vehicles
                 3.5 Penetration & Growth Prospect Mapping
                 3.6 Industry Analysis - Porter's
                 3.7 Automotive Aftermarket - Key Company Analysis, 2018
                     3.7.1 Key company analysis, 2018
                 3.8 U.S. Automotive Aftermarket - PESTEL Analysis
                 3.9 Distribution Channel Analysis, 2018

Chapter 4 U.S. Automotive Aftermarket: Replacement Part Estimates and Trend Analysis
                 4.1 U.S. Automotive Aftermarket: Replacement Part Movement Analysis
                     4.1.1 U.S. automotive aftermarket by replacement parts

Chapter 5 U.S. Automotive Aftermarket: Distribution Channel Estimates and Trend Analysis
                 5.1 U.S. Automotive Aftermarket: Distribution Channel Movement Analysis
                     5.1.1 U.S. automotive aftermarket by distribution channel

Chapter 6 U.S. Automotive Aftermarket: Service Channel Estimates and Trend Analysis
                 6.1 U.S. Automotive Aftermarket: Service Channel Movement Analysis
                     6.1.1 U.S. automotive aftermarket by service channel

Chapter 7 U.S. Automotive Aftermarket: Certification Estimates and Trend Analysis
                 7.1 U.S. Automotive Aftermarket: Certification Movement Analysis
                     7.1.1 U.S. automotive aftermarket by certification

Chapter 8 Competitive Landscape
                 8.1 Company Profiles
                     8.1.1 3M
                         8.1.1.1 Company overview
                         8.1.1.2 Financial performance
                         8.1.1.3 Product benchmarking
                         8.1.1.4 Recent developments
                     8.1.2 Continental AG
                         8.1.2.1 Company overview
                         8.1.2.2 Financial performance
                         8.1.2.3 Product benchmarking
                         8.1.2.4 Recent developments
                     8.1.3 Delphi Automotive PLC
                         8.1.3.1 Company overview
                         8.1.3.2 Financial performance
                         8.1.3.3 Product benchmarking
                         8.1.3.4 Recent developments
                     8.1.4 Denso Corporation
                         8.1.4.1 Company overview
                         8.1.4.2 Financial performance
                         8.1.4.3 Product benchmarking
                         8.1.4.4 Recent developments
                     8.1.5 Federal-Mogul Corporation
                         8.1.5.1 Company overview
                         8.1.5.2 Financial performance
                         8.1.5.3 Product benchmarking
                         8.1.5.4 Recent developments
                     8.1.6 Magneti Marelli S.p.A.
                         8.1.6.1 Company overview
                         8.1.6.2 Product benchmarking
                         8.1.6.3 Recent developments
                     8.1.7 Robert Bosch GmbH
                         8.1.7.1 Company overview
                         8.1.7.2 Financial performance
                         8.1.7.3 Product benchmarking
                         8.1.7.4 Recent developments
                     8.1.8 The Goodyear Tire & Rubber Company
                         8.1.8.1 Company overview
                         8.1.8.2 Product benchmarking
                         8.1.8.3 Recent developments
                     8.1.9 ZF Friedrichshafen AG (ZF TRW)
                         8.1.9.1 Company overview
                         8.1.9.2 Financial performance
                         8.1.9.3 Product benchmarking
                         8.1.9.4 Recent developments
                     8.1.10 COOPER TIRE & RUBBER COMPANY
                         8.1.10.1 Company overview
                         8.1.10.2 Financial performance
                         8.1.10.3 Product benchmarking
                         8.1.10.4 Recent developments

List of Tables

TABLE 1 U.S. automotive aftermarket - Industry snapshot & key buying criteria, 2014 - 2025
TABLE 2 U.S. automotive aftermarket - Key market driver impact
TABLE 3 U.S. automotive aftermarket - Key market restraint impact
TABLE 4 List of announcements of OEMs pertaining to electric vehicles, 2018
TABLE 5 U.S. automotive aftermarket by replacement parts, 2014 - 2025 (USD Billion)
TABLE 6 U.S. automotive aftermarket by distribution channel, 2014 - 2025 (USD Billion)
TABLE 7 U.S. automotive aftermarket by service channel, 2014 - 2025 (USD Billion)
TABLE 8 U.S. automotive aftermarket by certification, 2014 - 2025 (USD Billion)
TABLE 9 U.S. power tools automotive aftermarket - Key market driver impact
TABLE 10 U.S. power tools automotive aftermarket - Key market restraint impact
TABLE 11 U.S. power tools automotive aftermarket by operation, 2014 - 2025 (USD Billion)
TABLE 12 U.S. power tools automotive aftermarket by source, 2014 - 2025 (USD Billion)

List of Figures

FIG. 1 Market segmentation & scope
FIG. 2 U.S. automotive aftermarket size and growth prospects
FIG. 3 U.S. automotive aftermarket - Value chain analysis
FIG. 4 U.S. automotive aftermarket - Supply chain analysis
FIG. 5 Market dynamics
FIG. 6 U.S. automotive aftermarket dynamics (replacement parts), 2025
FIG. 7 Porter's five forces analysis
FIG. 8 Automotive aftermarket - Key company analysis, 2018
FIG. 9 U.S. automotive aftermarket - PEST analysis
FIG. 10 U.S. automotive aftermarket - Distribution channel analysis (Basic), 2018
FIG. 11 U.S. automotive aftermarket - Distribution channel analysis (Performance), 2018
FIG. 12 U.S. automotive aftermarket: Replacement parts movement analysis
FIG. 13 U.S. automotive aftermarket: Distribution channel movement analysis
FIG. 14 U.S. automotive aftermarket: Service channel movement analysis
FIG. 15 U.S. automotive aftermarket: Certification movement analysis
FIG. 16 U.S. power tools automotive aftermarket size and growth prospects