NEW YORK, Feb. 2, 2024 /PRNewswire/ — The automotive parts aftermarket market in US is estimated to grow by USD 30.83 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 7.69% during the forecast period. The passenger vehicles segment is estimated to witness significant growth during the forecast period. The US automotive aftermarket experiences high sales driven by regular maintenance needs of popular vehicles like hatchbacks, sedans, and estates, alongside the increasing popularity of plug-in hybrids and battery electric cars. Both local and foreign automakers thrive in this diverse market. Improved vehicle quality and reliability extend product lifecycles, boosting demand for replacement parts like wipers, brakes, tires, air filters, and spark plugs. Established vendors like Continental, ZF Friedrichshafen, and Delphi Technologies provide OE replacement parts, while players like AutoNation and AutoZone cater to the aftermarket. Online platforms like Amazon, eBay, and US Auto Parts Network dominate online aftermarket sales.
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The advantages and benefits of original OE replacement parts are key factors driving growth. Aftermarket automotive parts typically come with warranties ranging from 1 to 3 years, enhancing buyer confidence in the commercial market. However, replacing worn-out vehicle components can be challenging, requiring users to navigate availability and cost considerations. The presence of fake or unauthorized parts in the aftermarket further complicates matters, potentially impacting vehicle performance. Therefore, ensuring the authenticity and quality of aftermarket parts is crucial for optimal vehicle function and buyer satisfaction.
- The growth in the availability of automotive aftermarket parts on e-commerce platforms is a significant trend impacting the growth.
- The growing adoption of 3D printing in the manufacturing industry could potentially hinder the growth.
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Automotive Parts Aftermarket Overview
The automotive parts aftermarket is a diverse and competitive sector, with key players like AutoZone, Advance Auto Parts, O’Reilly Auto Parts, and NAPA Auto Parts offering a wide range of products. Companies like Pep Boys, Carquest Auto Parts, and Genuine Parts Company are also prominent in the market. Online retailers such as AutoAnything and RockAuto have gained traction, while Summit Racing Equipment and Jegs High Performance cater to enthusiasts. Specialty providers like 4 Wheel Parts, JC Whitney, and Eckler’s Automotive serve specific vehicle segments. Distributors like Keystone Automotive Operations and LKQ Corporation supply a broad customer base. Manufacturers like Dorman Products, MagnaFlow Performance Exhaust, and Borla Performance Industries offer branded components. Trusted names like ACDelco, Bosch Automotive, and Denso Corporation provide quality parts. Wagner Brake, Monroe Shocks & Struts, Moog Chassis Parts, and KYB Corporation focus on safety and performance. The Timken Company and Gates Corporation specialize in bearings and belts, respectively. Federal-Mogul Motorparts and Husky Liners are known for their comprehensive product lines, while WeatherTech is recognized for its premium automotive accessories.
What are the key data covered in this Automotive Parts Aftermarket Market In US report?
- CAGR during the forecast period
- Detailed information on factors that will drive the growth in US between 2023 and 2027
- Precise estimation of the size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the industry across the US
- A thorough analysis of the competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of Automotive Parts Aftermarket Market In US vendors
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Sizes
Five Forces Analysis
Segmentation by Distribution Channel
Segmentation by Type
Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
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SOURCE Technavio
