The global automotive part after market (自動車部品アフターマーケット) is estimated to be valued at US$ 608.1 million in 2024 and is projected to grow at a CAGR of 5.6%, reaching a market value of US$ 1,048.6 million by 2034.

The automotive part after market, also known as the automotive part aftermarket, refers to the secondary market of the automotive industry, which deals with manufacturing, remanufacturing, distribution, retailing, and installation of vehicle parts, equipment, tools, accessories, and chemicals after the sale of the automobile by the original equipment manufacturer (OEM) to the consumer.

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Market Dynamics:

The automotive part after market is driven by several factors, including the increasing average age of vehicles on the road, which leads to higher demand for replacement parts and maintenance services. The growing preference for vehicle customization and personalization also contributes to aftermarket growth, as consumers seek to enhance the performance, appearance, and functionality of their vehicles. Additionally, the rise of e-commerce has made it easier for consumers to purchase aftermarket parts and accessories online, further boosting market growth.

Market Future Outlook:

The automotive part after market (시장 후 자동차 부품) is poised for significant growth in the coming years, driven by technological advancements, such as the increasing adoption of electric vehicles (EVs) and the development of advanced driver-assistance systems (ADAS). EVs have fewer moving parts compared to traditional internal combustion engine vehicles, but they still require maintenance and replacement of certain components, creating new opportunities for aftermarket players. Moreover, the integration of IoT and AI technologies in vehicles is expected to drive demand for aftermarket products and services, such as connected car platforms and predictive maintenance solutions.

Market Insights:

The automotive part after market is a diverse and competitive market, comprising a wide range of players, including manufacturers, distributors, retailers, and service providers. The market is characterized by intense competition, with players vying for market share through product innovation, competitive pricing, and strategic partnerships. Moreover, the aftermarket is subject to various regulatory and environmental challenges, such as emissions standards and recycling requirements, which can impact the availability and cost of certain parts and components.

Key Players:

• Hitachi Astemo Ltd.
• Robert Bosch GmbH
• Michelin
• Denso Corporation
• Magna International
• Continental AG
• Valeo SA
• Bridgestone
• Gabriel India Limited
• Bajaj Auto Ltd.

Competitive Landscape:

Key players in the automotive aftermarket are employing a variety of strategies to achieve their objectives. These tactics include driving innovation, implementing rigorous quality control measures for their products, forging strategic partnerships, optimizing their supply chain management systems, and continually advancing their products and technologies.

Company Profiles

Hitachi Astemo Ltd.: This global automotive technology company is renowned for its cutting-edge automotive systems and components. Hitachi Astemo offers a broad array of automotive products, including powertrain systems, electronic control units, and various components that enhance vehicle efficiency and performance.

Robert Bosch GmbH: As a leading global supplier of technology and services, Robert Bosch GmbH operates across various sectors, including automotive. In the automotive aftermarket, Bosch is recognized for its high-quality automotive parts and systems. The company provides a comprehensive portfolio of automotive aftermarket parts, including components for powertrains, safety systems, electrical systems, and more.

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Segmentation of Automotive Part After Market (Automobilteil nach Markt) Research

• By Vehicle Type :
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• By Product Type :
• Engine and Transmission Parts
• Brake Parts
• Electrical Parts
• Fuel Intake and Ignition Parts
• A/C Parts
• Suspension Parts
• Exhaust Parts
• Engine Cooling Parts
• Steering Parts
• Wheels
• Tires
• By Region :
• North America
• Europe
• East Asia
• Latin America
• Middle East & Africa
• South Asia & Oceania

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