Key Takeaways
- The global automotive aftermarket was valued at USD 384.2 billion in 2022 and is expected to grow at a CAGR of 4.1% from 2023 to 2030, driven by rising vehicle ownership and aging vehicle fleets.
- U.S. automotive aftermarket sales reached $47.4 billion in light vehicle parts in 2023, up 1.8% from 2022.
- The aftermarket for tires in North America generated $28.5 billion in revenue in 2023, with a projected CAGR of 3.5% through 2028.
- 72% of U.S. consumers prefer buying aftermarket parts online for convenience in 2023 survey.
- 45% of vehicle owners aged 18-34 performed DIY maintenance in 2023, up from 38% in 2020.
- Average annual spend per U.S. vehicle owner on aftermarket parts rose to $1,256 in 2023.
- Advance Auto Parts holds 12.5% market share in U.S. DIY aftermarket 2023.
- O'Reilly Automotive reported $15.8 billion in revenue for 2023, up 8.2% YoY.
- Genuine Parts Company (NAPA) aftermarket sales $11.2 billion in 2023.
- North America holds 35% of global aftermarket revenue in 2023.
- China automotive aftermarket reached CNY 1.2 trillion in 2023, 9.5% CAGR.
- Germany aftermarket size EUR 25 billion in 2023, led by repair services.
- 28% CAGR for ADAS aftermarket software globally 2023-2030.
- Telematics adoption in aftermarket fleets reached 65% in 2023.
- 3D printing used for 12% of custom aftermarket parts in 2023 U.S.
The global automotive aftermarket industry continues its strong and steady growth.
Consumer Behavior and Trends
- 72% of U.S. consumers prefer buying aftermarket parts online for convenience in 2023 survey.
- 45% of vehicle owners aged 18-34 performed DIY maintenance in 2023, up from 38% in 2020.
- Average annual spend per U.S. vehicle owner on aftermarket parts rose to $1,256 in 2023.
- 61% of millennials prioritize eco-friendly aftermarket parts in purchasing decisions 2023.
- Female vehicle owners represent 52% of aftermarket purchases in U.S. 2023 data.
- 38% of consumers delayed repairs due to inflation in 2023 aftermarket survey.
- Subscription-based aftermarket services adopted by 22% of urban drivers in 2023.
- 67% of Gen Z drivers use mobile apps for aftermarket part discovery in 2023.
- Loyalty programs influence 54% of repeat aftermarket purchases in Europe 2023.
- 49% of U.S. consumers read online reviews before buying aftermarket parts 2023.
- Electric vehicle owners spend 30% more on premium aftermarket accessories 2023.
- 55% of rural consumers prefer local stores for aftermarket buys vs 32% urban in 2023.
- Personalized recommendations drive 41% of aftermarket e-commerce sales 2023.
- 63% of consumers value warranty on aftermarket parts as top factor 2023 survey.
- Hispanic buyers grew to 19% of U.S. aftermarket market share in 2023.
- 29% increase in subscription tire services among fleet owners 2023.
- 76% of consumers prefer brands with sustainability claims in aftermarket 2023.
- Average time spent researching parts online: 28 minutes per purchase 2023.
- 51% of parents buy child safety aftermarket accessories annually 2023.
- Video tutorials influence 44% of DIY aftermarket decisions 2023.
- 35% of consumers switched to cheaper aftermarket brands due to costs 2023.
- Mobile payments used in 68% of aftermarket transactions 2023.
- 42% of luxury vehicle owners opt for OEM-equivalent aftermarket parts 2023.
- Social media influences 27% of aftermarket accessory buys among youth 2023.
- 59% satisfaction rate with aftermarket repair quality in 2023 polls.
- Night deliveries requested by 14% of online aftermarket buyers 2023.
Consumer Behavior and Trends Interpretation
Key Players and Companies
- Advance Auto Parts holds 12.5% market share in U.S. DIY aftermarket 2023.
- O'Reilly Automotive reported $15.8 billion in revenue for 2023, up 8.2% YoY.
- Genuine Parts Company (NAPA) aftermarket sales $11.2 billion in 2023.
- AutoZone's commercial division grew 10.4% to $4.5 billion in FY2023.
- BorgWarner supplies 25% of turbochargers in global aftermarket 2023.
- Michelin holds 19% share in North American tire aftermarket 2023.
- Denso Corporation aftermarket revenue ¥1.2 trillion in FY2023.
- LKQ Corporation acquired 15 aftermarket firms in 2023, boosting salvage parts.
- Tenneco (Federal-Mogul) brake segment 22% U.S. aftermarket share 2023.
- RockAuto.com shipped 5.2 million orders in 2023, 14% growth.
- Valeo leads European wiper blade aftermarket with 28% share 2023.
- Summit Racing Equipment sales exceeded $1 billion in 2023.
- Continental AG aftermarket division €3.4 billion revenue 2023.
- CARQUEST network has 3,800 locations serving U.S. aftermarket 2023.
- MAHLE aftermarket pistons and rings 18% global share 2023.
- Pep Boys performed 12 million repairs in 2023 across 900 stores.
- NGK Spark Plugs 35% U.S. ignition aftermarket share 2023.
- Amazon captured 8% of U.S. online aftermarket parts sales 2023.
- KYB shocks and struts 24% North American aftermarket 2023.
- Monro Inc. serviced 8.5 million vehicles in FY2023.
- Bosch aftermarket global revenue €19 billion in 2023.
- Advance stores reached 5,000 locations by end-2023.
- Gates Corporation belts/hoses 27% U.S. aftermarket share 2023.
- Tractor Supply Co. vehicle parts sales $1.8 billion 2023.
- Standard Motor Products sensors 16% market share 2023.
- Midas shops totaled 1,200 in U.S. with $900M revenue 2023.
- Delphi Technologies (BorgWarner) 20% fuel injection aftermarket 2023.
- U.S. aftermarket employs 4.8 million people as of 2023.
Key Players and Companies Interpretation
Market Size and Growth
- The global automotive aftermarket was valued at USD 384.2 billion in 2022 and is expected to grow at a CAGR of 4.1% from 2023 to 2030, driven by rising vehicle ownership and aging vehicle fleets.
- U.S. automotive aftermarket sales reached $47.4 billion in light vehicle parts in 2023, up 1.8% from 2022.
- The aftermarket for tires in North America generated $28.5 billion in revenue in 2023, with a projected CAGR of 3.5% through 2028.
- E-commerce sales in the global automotive aftermarket are forecasted to reach $85.6 billion by 2027, growing at 12.4% CAGR.
- The European automotive aftermarket market size stood at EUR 110 billion in 2022, expected to expand at 3.2% CAGR to 2030.
- Asia-Pacific automotive aftermarket revenue hit $150 billion in 2023, with China contributing 45% of regional sales.
- Brake parts segment in the U.S. aftermarket generated $12.3 billion in 2023, representing 26% of total parts sales.
- Global collision repair aftermarket valued at $112 billion in 2022, projected to grow 4.5% annually to 2030.
- DIY automotive aftermarket in the U.S. accounted for 42% of total sales in 2023, totaling $20 billion.
- Heavy-duty truck aftermarket in North America reached $35 billion in 2023, up 5.2% YoY.
- Powersports aftermarket sales globally hit $18.4 billion in 2022, with 6.1% CAGR forecast to 2028.
- U.S. aftermarket battery sales volume was 98 million units in 2023, valued at $8.5 billion.
- Latin America automotive aftermarket grew to $42 billion in 2023, at 4.8% CAGR since 2018.
- Electric vehicle aftermarket projected to reach $20 billion globally by 2030, from $2.5 billion in 2023.
- U.S. oil and filter segment in aftermarket was $6.2 billion in 2023, down 2% from peak.
- Global aftermarket for auto accessories reached $250 billion in 2023, growing 5.3% annually.
- DIFM (Do-It-For-Me) segment dominated U.S. aftermarket with 58% share in 2023, valued at $27.5 billion.
- Middle East & Africa aftermarket size was $25 billion in 2022, expected 4.7% CAGR to 2030.
- U.S. light truck aftermarket parts sales surged 4.1% to $18.9 billion in 2023.
- Global paint and coatings aftermarket valued at $15.4 billion in 2023, 3.8% CAGR forecast.
- Motorcycle aftermarket in India reached INR 25,000 crore in FY2023, up 12% YoY.
- Canada automotive aftermarket sales totaled CAD 12.5 billion in 2023, 2.9% growth.
- U.S. aftermarket e-retailers captured 15% market share in 2023, sales at $7.1 billion.
- Commercial vehicle aftermarket globally at $110 billion in 2023, 5% CAGR to 2030.
- Body parts and accessories U.S. aftermarket: $9.8 billion in 2023, +3.2% YoY.
- Australia aftermarket revenue AUD 8.2 billion in 2023, stable growth at 2.5%.
- Global wiper blades aftermarket $4.5 billion in 2022, 4.2% CAGR to 2030.
- U.S. suspension/steering parts aftermarket $7.6 billion in 2023.
- Aftermarket for classic cars globally $32 billion in 2023, 7.1% CAGR.
- U.S. total aftermarket revenue $455 billion including labor in 2023.
Market Size and Growth Interpretation
Regional Insights
- North America holds 35% of global aftermarket revenue in 2023.
- China automotive aftermarket reached CNY 1.2 trillion in 2023, 9.5% CAGR.
- Germany aftermarket size EUR 25 billion in 2023, led by repair services.
- India aftermarket grew 11% to INR 80,000 crore in FY2023.
- Brazil aftermarket valued at BRL 120 billion in 2023, 6.2% growth.
- Japan DIY aftermarket 40% of total, $15 billion in 2023.
- Mexico aftermarket $18 billion USD equivalent in 2023, export hub.
- UK independent garages handle 78% of aftermarket repairs 2023.
- Southeast Asia aftermarket $45 billion in 2023, Thailand leads.
- France aftermarket EUR 18 billion, 3.1% growth in 2023.
- South Korea aftermarket KRW 30 trillion in 2023, EV focus.
- Australia independent sector 75% of repairs, AUD 6 billion 2023.
- Russia aftermarket RUB 1.5 trillion despite sanctions 2023.
- Turkey aftermarket $12 billion, 7% export growth 2023.
- Canada DIFM aftermarket CAD 8 billion, 3.4% YoY 2023.
- Spain aftermarket EUR 9.5 billion, collision strong 2023.
- Indonesia aftermarket IDR 150 trillion in 2023, moto dominant.
- South Africa aftermarket ZAR 100 billion, import reliant 2023.
- Italy aftermarket EUR 22 billion, premium parts 2023.
- Argentina aftermarket ARS 2 trillion inflation-adjusted $10B 2023.
- Poland aftermarket PLN 40 billion, EU hub 2023.
- UAE aftermarket AED 25 billion, luxury focus 2023.
- Vietnam aftermarket VND 200 trillion, rapid growth 12% 2023.
- Netherlands aftermarket EUR 4.2 billion, digital sales high 2023.
- Colombia aftermarket COP 15 trillion, truck strong 2023.
- Sweden aftermarket SEK 50 billion, EV transition 2023.
- Thailand aftermarket THB 250 billion, ASEAN leader 2023.
Regional Insights Interpretation
Technological Advancements and Innovations
- 28% CAGR for ADAS aftermarket software globally 2023-2030.
- Telematics adoption in aftermarket fleets reached 65% in 2023.
- 3D printing used for 12% of custom aftermarket parts in 2023 U.S.
- AI diagnostics tools installed in 40% of U.S. repair shops 2023.
- Electric drivetrain aftermarket components grew 25% in 2023.
- AR apps for DIY repairs downloaded 5 million times in 2023.
- Blockchain for parts authenticity verified 2 billion transactions 2023.
- Predictive maintenance software in aftermarket saved $10B in 2023.
- Autonomous repair robots deployed in 150 global shops 2023.
- IoT sensors in aftermarket tires reached 100 million units 2023.
- VR training for aftermarket techs trained 500,000 workers 2023.
- Hydrogen fuel cell aftermarket parts market $500M in 2023.
- Digital twins for vehicle maintenance used by 30% fleets 2023.
- 5G-enabled diagnostic tools latency reduced 80% in 2023 tests.
- Machine learning optimized inventory for 25,000 aftermarket stores 2023.
- Biometric vehicle keys integrated in 15% smart aftermarket systems 2023.
- Nano-coatings for parts extended life 40% in 2023 trials.
- Cloud-based parts catalogs accessed 1.2 billion times 2023.
- Quantum sensors for emissions testing piloted in 50 shops 2023.
- Drone-delivered parts to remote shops: 50,000 deliveries 2023.
- Generative AI designed 10,000 custom parts prototypes 2023.
- Edge computing in OBD-II scanners processed 500TB data 2023.
- Sustainable bio-based lubricants 18% market penetration 2023.
- Holographic repair manuals tested in 200 shops 2023.
- Robotic tire changers installed in 5,000 bays worldwide 2023.
- NFC tags on parts reached 300 million units tracked 2023.
- Over-the-air updates for aftermarket ECUs: 20 million vehicles 2023.
- Metaverse aftermarket expos attracted 1 million virtual visitors 2023.
- Carbon capture filters for exhaust aftermarket $200M sales 2023.
- Swarm robotics for shop inventory: 1,000 deployments 2023.
- Neural network paint matching accuracy 98% in 2023 tools.
Technological Advancements and Innovations Interpretation
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