Asia Pacific Automotive Aftermarket Market Growth Rate Analysis:
Asia Pacific Automotive Aftermarket Market is estimated at USD 145.2 billion in 2021 and is expected to expand at a CAGR of 5.7% to reach USD 191.5 billion by 2026.
The automobiles aftermarket is the commercial market of the automotive sector involved with the production, repair, dispersal, retail outlets, and deployment of all repair parts, chemicals, machinery and fittings after the purchase of the automotive by the original equipment manufacturer (OEM) to the user.
Recent Developments of the Asia Pacific Automotive Aftermarket Market:
In August 2018, Aisin Seiki Co., Ltd., and DENSO Corp, a market giant of automotive APAC aftermarket business, agreed to set up a new partnership for the production and sale of automobile electrification modules.
Market Drivers and Restraints Analysis:
Drivers and Restraints:
Drivers:
Restraints:
The densely crowded market with competitors ranging from small scale independent players to huge corporations is another factor that can restrain the APAC Automotive aftermarket market.
Detailed Segmentation of the Automotive Aftermarket Market:
By Type:
Out of these, the Wear and Tear Parts segment holds the majority of the market share in 2019, with over 62%. This can be attributed to the short life-span of these parts. As the name suggests, these parts are expected to be put into rough use and therefore needed to be replaced repeatedly, which in turn will drive the Wear and Tear parts segment of Automotive Aftermarket business. Also, services are expected to be the fastest-growing segment, with a CAGR of over 9.2% due to the constant need for maintenance of the automotive.
By Distribution Channel:
Out of these, Offline Channel is both the largest and the fastest-growing segment that accounted for over 72% in 2019. The segment is expected to expand at a CAGR of over 6.5% during the forecast period of 2019 - 2024, owing to the exam's inability of the product. If customers were to buy a product, they like to see and examine the product and the quality of it before they buy the product, this is a significant factor that drives the offline Segment of Automotive Aftermarket market. The online segment is also getting pace with the penetration of the smartphone industry.
Automotive aftermarket Market Regional analysis:
Based on the region, the Asia Pacific Automotive aftermarket market can be segmented into China, India, South Korea, Australia, and Japan. Of these, China is leading the regional business with all the smooth developments. India will be l be the fastest-growing region for the future.
Leading Key players mentioned in the market research report:
Many of these key players focused on technological innovations and aggressive market expansion strategies for staying ahead of the competition.
RESEARCH METHODOLOGY:
The research of the automotive aftermarket market takes place in two phases namely-
Secondary Research: The first phase of the research process is extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. Extensive secondary research helps in generating hypotheses and identifying critical areas of interest that are investigated through primary research.
Primary Research: This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook, etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies.
Asia Pacific Automotive Aftermarket Market Research Report Key Highlights:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Wear-and-Tear Parts
5.1.3 Crash Relevent Parts
5.1.4 Accesaries
5.1.5 Services
5.1.6 Diagnostics
5.1.7 Y-o-Y Growth Analysis, By Product
5.1.8 Market Attractiveness Analysis, By Product
5.1.9 Market Share Analysis, By Product
5.2 End Use
5.2.1 Introduction
5.2.2 Service Providers
5.2.3 Automotive WorkShop
5.2.4 Independent Workshops
5.2.5 Y-o-Y Growth Analysis, By Type
5.2.6 Market Attractiveness Analysis, By Type
5.2.7 Market Share Analysis, By Type
5.3 Distribution Channel
5.3.1 Introduction
5.3.2 Offline Distribution
5.3.3 Online Distribution
5.3.4 Y-o-Y Growth Analysis, By Application
5.3.5 Market Attractiveness Analysis, By Application
5.3.6 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.3.3 By End-Use
6.1.3.4 By Distribution Channel
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.4.3 By End-Use
6.1.4.4 By Distribution Channel
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.1.5.3 By End-Use
6.1.5.4 By Distribution Channel
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
6.6 Australia
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 3M
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Delphi Automotive
8.3 Denso Cororation
8.4 Cooper Tire and Rubber Company
8.5 Federal-Mogul corporation
8.6 Goodyear Tire & Rubber Company
8.7 Magneti Marelli
8.8 Continental A.G
8.9 Robert Bosch
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
