Automotive Wholesale and Distribution
Aftermarket is the secondary automobile market that provides components,
systems and services for vehicles. This market focuses mainly on the
replacement of spare parts and automobile accessories.
Automotive Wholesale and Distribution Aftermarket Market size
and Growth Rate
According to latest market research report
published by research cosmos, Automotive Wholesale and Distribution Aftermarket
Market is anticipated to reach over USD 295.1 billion by 2026, growing at a
CAGR of XX% during the forecast period 2018 – 2026.
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Automotive Wholesale and Distribution Aftermarket Market Growth,
Challenges:
The automotive
wholesale and distribution aftermarket market is the second commercial
channel in the automotive sector. After the vehicle has been sold, spare parts,
service items and accessories for faults or damages to components that have
reached their end of life are needed to be replaced. Spare parts are
manufactured by OEM and other suppliers. Due to the greater dependence, the world market is based on trends in
the automobile industry. Strict production standards encouraged car makers to
optimize their technology in view to introduce state-of-the-art technology and
innovation in their products to reduce vehicle production costs. As car sales
increase throughout the world, it is expected that the demand for vehicle
accident repairs will increase. Counting the services and repairs that have led
to technological advances in the automotive sector has become a popular choice
among customers.
The technological information, together with the coding pieces,
cannot be used freely in the accessory market for maintenance and repair, which
hinders the growth of independent workshops. automotive wholesale and distribution aftermarket face
big risks from manufacturers of fake auto parts. By designing the fraudulent
imitation of original auto parts, these manufacturers damage the life of a car
that threatens the safety of passengers. It is expected that periodic
maintenance and replacement of malfunctioning electronic components will
provide a favorable opportunity for the global market during the forecast period.
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Automotive Wholesale and Distribution Aftermarket Market Regional
Analysis:
It is expected that Asia-Pacific will see an increase in the use
of passenger vehicles over the next decade, boosting the growth of the automotive wholesale and distribution
aftermarket market. In the emerging markets of Brazil, Russia, India,
China and South Africa (BRICS), there has been a greater participation in
e-commerce in the car spare parts market. This trend will increase during the
forecast period. Increasing penetration of vehicles is due to the general
improvements in lifestyles in developing countries like India and Brazil. This
is expected to lead the growth of the industry in this region.
Leading Market Players of Automotive Wholesale and Distribution
Aftermarket Market Profiled in the report are:
- Denso
Corporation
- Robert
Bosch GmbH
- ZF
Friedrichshafen AG
- Continental
AG
- 3M
Company and more
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