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Answer : According to Precedence Research, the global automotive aftermarket revenue was valued at US$ 693.08 Billion in 2019 and is predicted to hit over US$ 950.09 billion by 2027.

Answer : The global automotive aftermarket is expected to grow with a CAGR of 4.61% over forecast period 2021 to 2027.

Answer : Increasing sales of pre-owned and new vehicles, ageing of vehicles, and poor road conditions are some of the prominent factors that spur the growth of automotive aftermarket. As per Bureau of Transportation Statistics U.S., average age of passenger vehicles is 12 years. Thus, automotive components or parts demand replacement, thereby fuelling the growth of the market. In addition, Integration of advanced technologies such as Internet of Things (IoT), big data, and analytics in the distribution mode triggers the trend for online sales of automotive components. Besides this, rising adoption of electric vehicle and safety technologies offer significant challenge for the component replacement.

Answer : In terms of market value, the Asia Pacific led the automotive aftermarket in 2019 and anticipated to register lucrative growth in the coming years. This is attributed to the rising sale and production of both passenger and commercial vehicles in the region.

Answer : On the basis of distribution channel, retailer segment projected to lead the market, whereas wholesale and distribution segment witness the fastest growth over the projected years.

Answer : By sales channel, Original Equipment (delegating to OEMs) expected to dominate the automotive aftermarket in the years to come. Brand name and consumer loyalty are the major factors that propel the market growth for OE segment.

Answer : The key players operating in the automotive aftermarket are MagnetiMarelliS.p.A., 3M Company, Continental AG, Robert Bosch GmbH, Federal-Mogul Corporation and Denso Corporation.