January 19, 2021

aftermarket

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Dec 04, 2020 (The Expresswire) —
The global Automotive Aftermarket Industry report contains market revenue, market share, and production of the service providers is also mentioned with accurate data. Moreover, the global market report majorly focuses on the current developments, new possibilities, advancements, as well as dormant traps. Furthermore, the market report offers a complete analysis of the current situation and the advancement possibilities of the market across the globe.

This report analyses substantial key components such as production, capacity, revenue, price, gross margin, sales revenue, sales volume, growth rate, consumption, import, export, technological developments, supply, and future growth strategies.

The global automotive aftermarket size is set to touch USD 288.20 billion by 2026, exhibiting a CAGR of 3.7% during the forecast period. Growing focus on digitization of aftersales services in the automotive industry will aid the growth of this market, states Fortune Business Insights™ in its report, titled Automotive Aftermarket Size, Share and Industry Analysis, By Replacement Part Type (Battery, Brake Pads, Filters, Gaskets and Seals, Lighting Components, Body Parts, Wheels, Others), By Vehicle Type (Passenger Cars, Commercial Vehicles), and Regional Forecast, 2019-2026. Automakers, components suppliers and distributors, and Original Equipment Manufacturers (OEMs) are intensely focused on utilizing digital means to optimize value chain processes. Digitization of channels and services will also enable consumers to deepen their research before purchasing or repairing their vehicle as well as provide them with necessary information about workshop quality, location, and availability of services.

Many suppliers are already taking steps toward digitization, which are driving the automotive aftermarket trends. For instance, in 2018, Hella KGaA Hueck and Co., the German automotive parts supplier, established a ‘Mobility Solutions’ unit to promote digital business models in the aftermarket domain.

The report further states that the value of this market stood at USD 215.32 billion in 2018.

The other highlights of the report include:

  • In-depth analysis of the automotive aftermarket industry trends;
  • Comprehensive study of the market drivers and constraints;
  • Thorough research into the different market segments; and
  • Exhaustive evaluation of the regional and competitive dynamics shaping the market.

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Report Focus on:

  • Extensive product offerings
  • Customer research services
  • Robust research methodology
  • Comprehensive reports
  • Latest technological developments
  • Value chain analysis
  • Potential Market opportunities
  • Growth dynamics
  • Quality assurance
  • Post-sales support
  • Regular report updates

Reasons to Purchase this Report:

  • Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
  • Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
  • Identifies market restraints and boosters.
  • Identifies all the possible segments present in the market to aid organizations in strategic business planning.

Market Driver

Strategic Expansion of Aftermarket Operations by OEMs to Fuel Growth

OEMs are aggressively widening their operations in the aftermarket domain intending to enhance the automotive aftermarket value chain and provide high-quality services to customers. Many companies are putting in place various

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Dec 03, 2020 (Market Insight Reports) —
According to this report, the Asia Pacific e-commerce automotive aftermarket was valued at USD 10.02 billion in 2019 and to depict a growth rate of 15.3% over 2020-2026. In line with this, the study also constitutes of crucial information on the current market scenario, developing technologies, widespread competitive landscape, strategies undertaken by market rivals, prospects, and vivid market segmentations.

The Asia Pacific e-commerce automotive aftermarket is primarily driven by demand from emerging economies as these contribute a significant demand and have the highest growth rates in the region. Increasing internet connectivity, escalating automobile sales, and demand for international brands will stimulate Asia Pacific e-commerce automotive aftermarket size. Furthermore, consumers’ inclination toward cost sensitivity and preference for competitively priced auto parts for service, repair, and replacement of the product will surge the e-commerce automotive aftermarket growth. Furthermore, positive outlook for vehicle demand, surging e-commerce, and growing preference for performance products will support industry expansion during the forecast period.

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Shifting trend towards DIY with increasing digitalization will expand Asia Pacific e-commerce automotive aftermarket size. Industry players in the region are investing in online order management system and developing effective CRM & vendor management solutions to increase their market share. The increasing number of e-stores in countries including China and Japan offering various brands due to partner-distributor e-commerce portal will further fuel the industry demand. The increasing customer expectations and balance between customer digital & physical capabilities along with product tracking systems offered by service providers are the key trends in the industry landscape.

The lighting products segment is expected to witness a significant growth of over 16.5% in the market from 2020 to 2026. The growth is attributed to an increasing demand for lighting components in lighting systems such as signaling, lighting mount or rear side, and integrated front side. The main components of the lighting system are LED lights, off road lights, signal lights, fog lights, head lights, and bulbs. An increasing concern regarding the visibility of the vehicle and demand for customized lighting systems will provide a strong business outlook for manufacturers in the e-commerce automotive aftermarket over the coming years. Several manufacturers in the industry are investing in online portals to enhance their product sales. Furthermore, increasing consumer spending on e- commerce websites due to the availability of products at competitive prices along with features such as same day delivery and pick up from the nearest store will boost segment growth.

By consumer, the business to consumer segment held over 55% share in 2019. Customers are shifting their preferences toward online shopping of automobile parts due to their cost-effectiveness when compared to conventional brick-and-mortar stores. Technologically advanced products, provision of discounted prices, and fast query solving are a few techniques by which the segment will observe a robust growth rate over the forecast spell.

E-commerce shopping is on the rise

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BEIJING, Dec. 3, 2020 /PRNewswire/ — In its latest report 2020 White Paper of China Automotive Aftermarket, Deloitte highlighted several core insights that shaped and continues to transform this fast-growing sector, as well as future developments to watch. The report not only covered trends in China’s automotive aftermarket and insights on consumers’ online maintenance behavior, it also discussed how rapid digitalization has contributed in an influx of tech firms entering the auto aftermarket. The rise of the vertically integrated S2c[1] model (typically driven by firms such as Tuhu) has disrupted and transformed the market landscape, creating unique value-chain integration and online-offline customer experience.

Chinese car ownership to lead the world by 2025, but aftermarket lags behind

Benefited from fast economic growth and demographic dividend over the past two decades, auto sales of China have been growing robustly for a long time. According to the report, China is expected to surpass the United States to become the world’s largest auto market by 2025. Maintenance market capacity will continue to grow and be expected to reach CNY 1.7 trillion (USD 260 billion) by 2025.

Despite promising market growth, China’s auto aftermarket industry continues to face various challenges. The sector has yet to reach mature, and a lack of integrity in some areas has damaged consumers’ trust. These problems need to be resolved if the auto aftermarket is to realize its full potential.

China’s auto sector has seen explosive growth for over a decade, but the development of its service market has lagged behind. The aftermarket has grown in the last 10 years but remains fragmented, disorganized, and relatively small in scale. At the same time, the development of mobile internet and digital technology allows new business opportunities to thrive,” said Wei Tongwei, Secretary-General of the Automobile Repair Parts Working Committee,China Automobile Maintenance Industry Association.

Younger, newer drivers go digital for quality assurance

According to Deloitte, the domestic online auto maintenance market will remain rapid annual growth, approximately over 22% from 2019 to 2025. Meanwhile, the age distribution of the consumers shows a standard “olive” structure, covering drivers aged from 25 to 54 years old, among which age group between 25 and 34 accounts for the highest proportion (up to 51%).

The research also found that people with less than 3 years driving experience require higher quality auto parts. This reflects the fact that “genuine products” and “quality assurance” cannot be positioned as core differentiated competitiveness in mature markets, but they are Chinese consumers’ concerns at current stage.

Deloitte believes that the needs of Chinese consumers are different from those of developed markets. Not only do Chinese auto maintenance consumers want access to quality maintenance services, they also require the industry to embrace digital transformation and meet consumer preferences.

Digital models transform the industry

Digitalization in auto aftermarkets has attracted an influx of tech firms to enter, including large incumbents in the value chain, resulting in new business models and competition patterns.

Comparison of traditional model, M2B2b2c and S2c (PRNewsfoto/Deloitte)

The S2c model integrates auto parts

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ALBANY, N.Y., Dec. 1, 2020 /PRNewswire/ — E-commerce automotive aftermarket is an e-tailing platform that offers various auto parts to service professionals as well as do-it-yourself customers. This platform uses Internet to carry out sales activities. Using aftermarket, an individual can purchase a wide range of automotive spare parts, accessories, equipment, and services associated with automobiles.

The E-commerce automotive aftermarket market is foreseen to gain noteworthy expansion opportunities during the assessment period of 2018 to 2027. This expansion is attributed to many factors including outstanding growth in ecommerce platforms and partnership among brick & mortar stores and E-commerce platform providers.

Analysts at TMR highlight that the global E-commerce automotive aftermarket market will grow at a CAGR of over 15% and account for more than US$ 144 Mn by the end of forecast period of 2018–2027.

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Key Findings of E-Commerce Automotive Aftermarket Market Report

  • The global E-commerce automotive aftermarket market is projected to gain the valuation of over US$ 144 Mn by the end of 2027.
  • This denotes that the market is likely to expand at a CAGR of over 15% during 2018–2027.
  • In terms of channel, the third party standalone e-tailer segment held approximately 50% of overall E-commerce automotive aftermarket market share during 2018.
  • The above-mentioned segment is likely to continue its dominance in the assessment period of 2018 to 2027.
  • On regional front, Asia Pacific E-commerce automotive aftermarket market is foreseen to become dominant region by the end of 2027.

Explore 174 pages of top-notch research, incisive insights, and detailed country-level projections on E-Commerce Automotive Aftermarket Market (Product Type – Braking (Brake Pads, Hydraulics and Hardware, and Rotor and Drum), Steering and Suspension (Ball Joints, Tie Rods, Sway Bar Links, Bushings, Bearings/Seals, and Coil Springs) Hub Assemblies (Wheel End), Universal Joints (Drive Line), Gaskets, Wipers, Filters (Air, Oil, and Cabin Air), Lighting, and Spark Plugs; By Channel – Marketplace, 3rd Party Stand Alone E-tailer, Direct to Customer) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2027 at https://www.transparencymarketresearch.com/e-commerce-automotive-aftermarket-market.html

E-Commerce Automotive Aftermarket Market: Key Driving Factors and Promising Avenues

  • Extensive growth in number of “Do It Yourself” DIY customers is estimated to promote the online purchase of auto parts in the forthcoming years. This scenario is expected to result in upward graph of sales in the E-commerce automotive aftermarket market.
  • In recent period, major customer base across the world is inclined toward purchasing auto parts though E-commerce platforms. Key factors behind this shift in consumer behavior the ability of these platforms to offer convenience and flexibility while buying products online.
  • Online platforms offer deep research as well as comparisons on various important aspects of products including features, prices, special offers, and delivery speed. Owing to all these important elements or differentiators, DIFM and DIY customers across the world are able to compare products from numerous online sources as opposed to brick & mortar stores. Thus, due to all these features of online shopping, the e-commerce automotive aftermarket market is likely
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Dec 01, 2020 (Market Insight Reports) —
The global Automotive Aftermarket is estimated to generate revenues of more than USD 513.1billion by 2027, growing at a CAGR of over 3.8% from 2020-2027

The report covers SWOT analysis, market valuation, competitive spectrum, regional share, and revenue predictions. The report offers an analysis of the global Automotive Aftermarket for the period 2016 to 2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.

The wide application portfolio of Automotive Aftermarket is one of factors driving the growth of market worldwide. The global market is moderately competitive with a blend of global and regional players. The markets key players invest significantly in R and D to enhance their offerings. The entire ecosystem is composed of multiple participants. Every participant of the ecosystem is an equal contributor to the growth of global market.

Why should you invest in this report?

If you are aiming to enter the global Automotive Aftermarket, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Automotive Aftermarket are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027, so that you can plan your strategies to enter this market accordingly. Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

The Final Report will cover the impact analysis of COVID-19.

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Report Structure:

  • pertinent market numbers of the global Automotive Aftermarket along with the CAGR for the forecast period 2020-2027
  • detailed definitions of different types of Automotive Aftermarket, which gives clarity about what this market is all about and also defines the scope of this report
  • macroeconomic factors influencing the global Automotive Aftermarket, along with market opportunity analysis
  • key trends likely to impact the global Automotive Aftermarket
  • PESTLE analysis of all the regions as per the market taxonomy
  • Porter’s Five Force Analysis of all the regions as given in the market taxonomy

Global market analysis and forecast:

  • the global Automotive Aftermarket analysis and forecast by product type, by application, by region and others
  • key market metrics such as the BPS analysis, year-on-year growth rates, absolute dollar opportunity and market attractiveness analysis of the global Automotive Aftermarket

Regional market analysis and forecast:

  • Regional Automotive Aftermarket analysis and forecast
  • Regional market dynamics including the drivers, restraints and trends applicable across different regions in the Automotive Aftermarket along with factors encouraging
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(MENAFN – America News Hour) Recent report published by research nester titled ‘[To enable links contact MENAFN] Automotive Aftermarket Fuel Additives Market: Global Demand Analysis & Opportunity Outlook 2024’delivers detailed overview of the automotive aftermarket fuel additives market in terms of market segmentation by application, by distribution channel, by type and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The automotive aftermarket fuel additives market has been segmented by type into  deposit control, cetane improvers, lubricants, antioxidants, anticorrosion, fuel dyes, cold flow improvers, antiknock agents  and others. Among these segments, the deposit control segment has accounted for the major market share owing to its benefits when it is added to the fuel. Further, due to internet penetration among consumers, there is an estimated increase in the sales of automotive aftermarket fuel additives which is anticipated to drive the automotive aftermarket fuel additives market during the forecast period. [To enable links contact MENAFN] CLICK TO DOWNLOAD SAMPLE

The global market for automotive aftermarket fuel additives is anticipated to reach  USD 3.1 billion  globally by 2024, expanding at a  compound annual growth rate of 7.2% over the period 2017-2024 . Factors such as growing automotive industry and rising demand for fuel additives to improve fuel efficiency and increase engine performance are anticipated to drive the growth of automotive aftermarket fuel additives market by noteworthy revenue by the end of 2024.

In the regional segment, North America is anticipated to dominate the automotive aftermarket fuel additives market with largest market share by the end of 2024. This can be attributed to strict environmental regulations taken by government to reduce harmful gas emission.

After North America, Europe is the second largest automotive aftermarket fuel additives market in terms of revenue in which Germany and U.K. are the prominent countries that are attributing the growth of automotive aftermarket fuel additives market. Further, with the presence of largest automotive industry, Asia-Pacific is projected to showcase a highest CAGR over the forecast period.

Ecological Regulations to Boost Market Growth

Factors such as environmental protection agency (EPA) for monitoring and commercializing the products and stringent environmental regulations on vehicle emissions are believed to be the dynamic factors behind the growth of automotive aftermarket fuel additives market. Further, rising urbanization and increasing number of automobiles on road are expected to benefit the expansion of automotive aftermarket fuel additives market.

However, the introduction of alternative fuel vehicles such as electric cars is anticipated to inhibit the growth of the market in the near future.

This report also provides the existing competitive scenario of some of the key players of the automotive aftermarket fuel additives market which includes company profiling of  Ashland Inc., BASF SE, Afton Chemical Corporation, BG Products Inc., Evonik Industries AG, Infineum International Ltd., Chevron Corporation, Innospec Speciality Chemicals, Lucas Oil Products Inc., Total S.A and Lubrizol Corporation.  [To enable links contact MENAFN] CLICK TO DOWNLOAD SAMPLE

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NEW YORK–(BUSINESS WIRE)–MidOcean Partners, a premier middle market private equity firm focused on the business services and consumer sectors, announced today that it has acquired FullSpeed Automotive (“FullSpeed” or the “Company”) from CenterOak Partners. FullSpeed is an industry leading auto aftermarket services platform offering oil changes, tire sales and rotations, brake services, car washes and other ancillary services through multiple brand formats including under the Grease Monkey® and SpeeDee® brands. The Company has a broad geographic footprint of nearly 600 franchised and company owned locations. MidOcean Partners plans to continue the Company’s aggressive growth plan through comprehensive organic initiatives and strategic M&A. Financial terms of the transaction were not disclosed.

FullSpeed Automotive was founded in 1978 and has nearly 600 automotive centers across the U.S. as well as internationally. The Company’s brands include: Grease Monkey®, SpeeDee®, American Lubefast®, and Uncle Ed’s Oil Shoppe®. The Company’s Retail Operations division also operates Havoline xpress lube locations. In addition to quick lube oil changes, FullSpeed Automotive provides a variety of other services, such as tire rotations, brake services, suspension repairs, and minor electrical-system repairs.

Daniel Penn, Managing Director at MidOcean, commented, “MidOcean has been evaluating the auto aftermarket services space for a number of years and is thrilled to partner with FullSpeed’s exceptional management team for the Company’s next phase of growth. We believe FullSpeed will continue to experience strong growth from its existing locations with industry leading customer service and robust performance metrics. We also plan to support the Company’s existing aggressive M&A strategy, as well as to drive franchise development in new and existing markets. Our focus in this sector has been in partnership with our MidOcean Executive Board member Marc Graham who brings over 35 years of expertise in this industry, and we are pleased to have Marc involved as Chairman of the Board of the Company going forward.”

Marc Graham joined MidOcean as an Executive Board member in 2020 as a dedicated resource to MidOcean’s efforts in the auto aftermarket sector. Mr. Graham is an accomplished auto aftermarket operating executive with over 35 years of senior management experience in high volume automotive consumer products and services industries. Mr. Graham’s prior experience includes roles as CEO of Take 5 Oil Change, a rapidly growing oil change business under his leadership, and President of Jiffy Lube International. Mr. Graham will be an integral member of the MidOcean-backed FullSpeed team, and will serve as Chairman of the Board of the Company.

“I’m thrilled to partner with the FullSpeed management team and am excited about the opportunities to drive growth alongside MidOcean,” said Mr. Graham. “FullSpeed has best-in-class operations across a number of different brands with a wide variety of service offerings for its customers. We plan to focus on maintaining these industry leading service levels, while also accelerating new units. We are looking forward to executing this strategic plan closely with the FullSpeed team.”

“We are excited to partner with MidOcean to drive outsized growth for

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Selbyville, Delaware, Nov. 18, 2020 (GLOBE NEWSWIRE) —

Global Market Insights, Inc. has recently added a new report on Europe E-commerce automotive aftermarket which estimates the regional market valuation will cross US$ 45 billion by 2026. Strong automotive base coupled with increasing e-retail channels will significantly drive the industry growth.

The Europe e-commerce industry is projected to gain substantial revenue growth by 2026 due to the increasing availability of automotive aftermarket products at low costs. Growing brick & click business models, and significant demand for vehicle parts are the key factors driving the industry size. Market players in the developed countries of Europe are improving their global footprint by entering the aftermarket segment due to superior profit margins.

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The direct-to-customer segment is estimated to register around 15% CAGR during 2020-2026 propelled by significant opportunities provided by Europe e-commerce automotive aftermarket participants to build strong brand recognition among their consumers. Reliability and assurance of excellent automotive product quality along with better communication with the manufacturing company have led to substantial segment growth. The direct-to-customer segment also offers custom-made auto parts as per client requirements to suit specific applications, propelling the e-commerce industry expansion.

The accessories segment is projected to witness significant growth in the Europe e-commerce automotive aftermarket. Automotive accessories can be bifurcated into interior and exterior. The interior accessories include hardwood floor, headliner, rear shelf, door trim, door opening trim, assist trim, tibia pad, seat fabric, floor carpet, and luggage trim. Whereas, the exterior segment comprises hood silencer, mudguard, bumper core, protective paints & coatings, and fender liner. Rising affordability due to reduced prices and the availability of warranties will further positively influence product sales.

The B to small B is estimated to register over 14% CAGR by 2026. B to small B consumers mainly include equipment suppliers who buy basic automotive components. Product manufacturers of sub-assembly systems and electronic components are among the major consumers in the B to small B distribution. Less complexity in purchases including quotations and RFQs will further provide a positive outlook for the Europe e-commerce automotive aftermarket growth. The increasing adoption of electric vehicles in various European countries will propel the e-commerce industry growth by 2026. This is mainly ascribed to vehicles featured with complex intricate parts that are attractive to both the ends of the supply chain and are quoted as expensive.

Browse key industry insights spread across 130 pages with 318 market data tables & 15 figures & charts from the report, “Europe E-commerce Automotive Aftermarket Share & Forecast, 2020 – 2026” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/europe-e-commerce-automotive-aftermarket

Some major findings of the Europe e-commerce automotive aftermarket report include:

  • Third party retailers witnessed the largest share in the industry. The growing mobile penetration with the emergence of a mobile-friendly interface for part selection will fuel industry growth.
  • Replacement parts to gain traction by the end of 2026.
  • B2C is the key consumer of e-commerce automotive products.
  • Major
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