Global Automotive Top 10 Aftermarket Components By Components (Tire, Fluid, Battery, Brake, Lighting, Filter), By Vehicle Types (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

The automotive aftermarket is the automotive industry’s secondary market, encompassing the remanufacturing, manufacturing, distributing, retailing, and installation of all vehicle parts, equipment, and accessories after the Original Equipment Manufacturer (OEM) has sold a vehicle to a consumer. The OEM may or may not manufacture parts, accessories, and other products for sale.

According to a report from the US Department of Commerce’s International Trade Administration, “Replacement parts and accessories are the two types of aftermarket products. Automotive replacement parts are made or remanufactured to replace OEM parts as they become damaged or wear out. Accessories are parts that are designed to be added to a vehicle after it has been purchased. They are designed for comfort, performance, safety, convenience, or customization.

” The aftermarket offers a large range of parts of variable quality and price. Consumers can either fix their vehicles themselves (the “do-it-yourself” or “DIY” segment) or bring them to a professional repair shop (the “do-it-for-me” or “DIFM” segment). Consumers can choose where they want their vehicles to be serviced, repaired, or personalized in the aftermarket, which helps keep vehicles on the road.

Detailed Segmentation –

The global top 10 automotive aftermarket components industry is segmented on the basis of – Components, Vehicle Types, and Region. The detailed segmental description is represented below:

Based on Components:

• Tire
• Fluid
• Battery
• Brake
• Lighting
• Filter
• Other Components

Based on Vehicle Types:

• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Based on Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Based on Key Players:

• Bridgestone Group
• Royal Dutch Shell Plc
• Mahle Group
• Continental AG (Germany)
• Robert Bosch GmbH
• Delphi Automotive PLC
• Bayerische Motoren Werke AG
• Daimler AG
• Ford Motor Company
• Volvo Cars
• others

Market Dynamics –

Drivers for the Global Automotive Aftermarket for Top 10 Components:

Booming vehicle sales, the increase in miles traveled per year, an increase in average vehicle life, and the advent of new distribution channels are the primary reasons propelling the expansion of the top 10 automotive aftermarket components industry. Another factor complimenting automotive aftermarket sales is the increasing use of e-commerce platforms as a purchase/distribution channel.

Restraints for the Global Automotive Aftermarket for Top 10 Components:

In recent years, certain components are long-lasting as the quality of these parts improve. As a result of the long intervals of time between two consecutive services, there is a lesser demand for these components. This could act as a restraining factor for the further expansion of this market.

Competitive Landscape –

From a products stand point – Bridgestone Group, Royal Dutch Shell Plc, and Mahle Group are leaders in this industry. With respect to technology – Continental AG (Germany), Robert Bosch GmbH, and Delphi Automotive PLC are market frontrunners. The products manufactured by these entities are used by automotive companies such as Bayerische Motoren Werke AG, Daimler AG, Ford Motor Company, and Volvo Cars, among others.

For the Automotive Aftermarket for Top 10 Components research study, the following years have been considered to estimate the market size: