DUBLIN, April 05, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Automotive Aftermarket products market - By Replacement Parts, Regions - Market Size, Demand Forecasts, Industry Trends and Updates (2016-2022)" report to their offering.
The Global Automotive Aftermarket was USD 643.10 billion in 2016 and is estimated to reach USD 847.15 Billion by 2022, at a CAGR of 4.7% for the forecasted period
Global vehicles in operation are expected to increase sharply over the 2016-2022 period driving the market of aftermarket products.
The automotive aftermarket products are the vehicle parts, chemicals, equipment, and accessories which are manufactured, distributed, retailed and installed after the sale of the automobile by the original equipment manufacturer (OEM) to the consumer. These parts, accessories, etc. for sale may or may not be manufactured by the OEM.
The US represents the largest market for automotive aftermarket products. Asia Pacific is anticipated to be the fastest growing market with a CAGR of about 6.5%. In Europe, products which enhance the performance and agility features of the vehicle is expected to show highest growth.
The automobile aftermarket is witnessing stable growth due to increased vehicle fleet as well as the demand for replaceable parts and accessories like clutch systems, engine parts, axles due to wear and tear of vehicles. Increase in accidents has led to increased demand for external components like bumpers. The major constraint of this market is that with the better quality of aftermarket products, the longevity of these products have increased and less frequent parts failure leading to decrease in demand.
The major players of this industry are 3M Company, Continental AG, DENSO Corporation. Continental AG plans to build new truck tyre plant worth USD 1.4 Billion in Mississippi. DENSO Corporation and Toyota Tsusho Corporation have agreed to form a joint venture in Bangkok, Thailand. The new company, Toyota Tsusho DENSO Electronics (Thailand) Co., Ltd., plans to start developing software in July 2016 to help improve the efficiency of engine electronic control unit development.
Key Topics Covered:
1. Research Methodology
2. Market Overview
3. Market Dynamics
4. Global Automotive Aftermarket products market Segmentation, Forecasts and Trends - by Revenue
5. By Replacement Parts
6. By Region
7. Vendor Market Share Analysis
8. Company Profiles
9. Industry Structure
- Akebono Brake Industry Co. Ltd.
- Brembo S.P.A
- Continental AG
- Cooper Tire & Rubber
- Delphi Automotive PLC
- Denso Corporation
- Federal-Mogul Holdings Corporation
- Gates Corporation
- Hitachi Ltd
- Infineon Technologies AG
- Magna International
- Mitsubishi Electric Corporation
- NSK Ltd.
- Robert Bosch GmbH
- ZF TRW Automotive Holdings Corporation
For more information about this report visit http://www.researchandmarkets.com/research/24fznc/global_automotive
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SOURCE Research and Markets