Expanding Automotive Industry In APAC Is Propelling Growth Of Automotive Aftermarket Industry

By Goldstein Market Intelligence || 2018-09-20 4:49:06 AM

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Asia Pacific Automotive Aftermarket Industry 

Market Overview

According to Goldstein Research, world automotive aftermarket market is expected to grow from USD 182.0 billion in 2017, equaling 23.4% of total automotive industry which is expected to expand at a compounded annual growth rate of 6.4% over the forecast period 2017-2025. The increasing new vehicle sale across the region is driving the automotive aftermarket industry of Asia Pacific. Moreover, the trend of digitalized products and services is also propelling the growth of APAC automotive aftermarket sector.

The Asia Pacific Automotive Aftermarket Industry segmentation has been carried out on the basis of aftermarket products and services type, end-user, distribution channel, and geography. On the basis of after-market products and services, the segment wear & tear parts accounted for the largest market share i.e. 56.0% in 2017 of the total market.  The Asia Pacific Automotive Aftermarket industry is majorly driven by China with a market share of 50.0%. Whereas, India is witnessed to have second largest automotive industry, which is inducing huge growth opportunities for the market players in India automotive aftermarket industry. Further, the countries of South East Asia region such as Indonesia, Malaysia, and Thailand are witnessing fast growth in the automotive aftermarket industry.

Market Segmentation

On the basis of our in-depth analysis, Asia Pacific Automotive Aftermarket Industry can be segmented as follows:

By Aftermarket Products and Services Type

  1. Wear-and-Tear Parts
  2. Crash-Relevant Parts
  3. Accessories and Appearance Products
  4. Diagnostics Products
  5. Services (Fleet Management etc.)

By End Users Type

  1. Service Providers (Telematics, Fleet Management etc.)
  2. Independent Workshops
  3. Automotive OEM Workshop

By Distribution Channels

  1. Offline Distribution Channel
  2. Online Distribution Channel

Countries Covered in the Report:

  1. China
  2. India
  3. Japan
  4. Australia
  5. South Korea
  6. Indonesia
  7. Philippines
  8. Thailand
  9. Vietnam
  10. Malaysia
  11. Rest of Asia Pacific

China Automotive Aftermarket Industry Analysis

China Automotive Aftermarket Industry is witnessed to be in the booming era and is anticipated to be growing at a CAGR of 8.3% during the forecast period. In China there is higher gross margin in the automotive aftermarket & the dealers have active contribution in the propelling growth of the market. Further, of the total retailers in the industry, 25% retailers sells auto electronics & 25% sells auto accessories. The rest of the market share is distributed among the retailers selling auto multimedia, auto modification, auto lights & audio and others.

Competitive Analysis of Key Players Included in the APAC Automotive Aftermarket Industry Report are:

as3M, Continental AG, Delphi Automotive PLC, Denso Corporation, Federal-Mogul Corporation, MagnetiMarelliS.p.A., Goodyear Tire & Rubber Company, ZF Friedrichshafen AG, COOPER TIRE & RUBBER COMPANY, Robert Bosch GmbH, etc.

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The Asia Pacific Automotive Aftermarket Industry Report Highlights:

The report published on Asia Pacific Automotive Aftermarket Industry Report encompasses the industry growth drivers, Y-O-Y growth rate, current, and emerging market trends and dynamics, market challenges, risk analysis, prevailing market opportunities, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. The company profiles of the players included in Asia Pacific Automotive aftermarket industry report include business strategy, geographical revenue distribution, product portfolio, major information of the companies, recent developments and financial analysis of the company. Overall, the industry report represents the  Automotive Aftermarket Industry outlook in APAC along with the market forecast that will help industry consultants, technology providers, and existing players to align their market-centric strategies.

Key questions answered in Asia Pacific Automotive Aftermarket Industry Report are:

  1. What is the Asia Pacific Automotive aftermarket industry Size by 2024 and what would be the expected growth rate of the industry?

  2. What is the total revenue per segment and region in the APAC automotive aftermarket industry in 2015-16 and what would be the expected revenue per segment and region over the forecast period?
  3. What are the APAC automotive aftermarket industry market trends and recent developments?
  4. What are the factors which are driving the APAC automotive aftermarket industry?
  5. What are the major barriers to APAC automotive aftermarket industry growth?