Automotive Parts Aftermarket Market in US to Grow by $ 17.26 bn in 2020 | Industry Analysis, Market Trends, Market Growth, Opportunities and Forecast 2024 | Technavio

Technavio has announced its latest market research report titled Automotive Parts Aftermarket Market in US 2020-2024 (Graphic: Business Wire).

LONDON--()--Technavio has been monitoring the automotive parts aftermarket market in US and it is poised to grow by USD 17.26 bn during 2020-2024, progressing at a CAGR of over 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the automotive parts aftermarket market in US. The market growth in 2020 is likely to increase compared to the market growth in 2019.

Frequently Asked Questions:

  • What are the major trends in the market?
    Growing availability of automotive aftermarket parts in e-commerce platforms is a major trend driving the growth of the market.
  • At what rate is the market projected to grow?
    The market will accelerate at a CAGR of over 2% and the incremental growth of the market is anticipated to be $ 17.26 bn.
  • Who are the top players in the market?
    3M Co., Aisin Seiki Co. Ltd., Continental AG, Delphi Technologies Plc, DENSO Corp., Magna International Inc., Magneti Marelli CK Holdings Co. Ltd., Robert Bosch GmbH, Valeo SA, and ZF Friedrichshafen AG., are some of the major market participants.
  • What is the key market driver?
    The benefits of original OE replacement parts is one of the major factors driving the market.
  • How big is the online channel market?
    The online channel region will contribute to 91% of the market share.

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View market snapshot before purchasing

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 3M Co., Aisin Seiki Co. Ltd., Continental AG, Delphi Technologies Plc, DENSO Corp., Magna International Inc., Magneti Marelli CK Holdings Co. Ltd., Robert Bosch GmbH, Valeo SA, and ZF Friedrichshafen AG. are some of the major market participants. The benefits of original OE replacement parts will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this automotive parts aftermarket market in US forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Automotive parts aftermarket market in US 2020-2024: Segmentation

Automotive parts aftermarket market in US is segmented as below:

  • Distribution channel
    • Offline
    • Online
  • Type
    • Passenger Vehicles
    • Commercial Vehicles

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43427

Automotive parts aftermarket market in US 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automotive parts aftermarket market in US report covers the following areas:

  • Automotive parts aftermarket market in US Size
  • Automotive parts aftermarket market in US Trends
  • Automotive parts aftermarket market in US Industry Analysis

This study identifies growing availability of automotive aftermarket parts in e-commerce platforms as one of the prime reasons driving the automotive parts aftermarket market in US growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Automotive parts aftermarket market in US 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist automotive parts aftermarket market in US growth during the next five years
  • Estimation of the automotive parts aftermarket market in US size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive parts aftermarket market in US
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive parts aftermarket market in US vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Distribution channel

  • Market segments
  • Comparison by Distribution channel
  • Offline - Market size and forecast 2019-2024
  • Online - Market size and forecast 2019-2024
  • Market opportunity by Distribution channel

Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • Passenger vehicles - Market size and forecast 2019-2024
  • Commercial vehicles - Market size and forecast 2019-2024
  • Market opportunity by Type

Customer landscape

  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor Landscape
  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • 3M Co.
  • Aisin Seiki Co. Ltd.
  • Continental AG
  • Delphi Technologies Plc
  • DENSO Corp.
  • Magna International Inc.
  • Magneti Marelli CK Holdings Co. Ltd.
  • Robert Bosch GmbH
  • Valeo SA
  • ZF Friedrichshafen AG

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations 

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The Automotive Parts Aftermarket Market in US will grow by USD 17.26 bn during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/