LONDON--(BUSINESS WIRE)--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:
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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.
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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.
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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.
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What is the key market driver?
The benefits of original OE replacement parts is one of the major factors driving the market.
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How big is the online channel market?
The online channel region will contribute to 91% of the market share.
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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:
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Distribution channel
- Offline
- Online
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Type
- Passenger Vehicles
- Commercial Vehicles
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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
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