Auto parts connect manufacturers, repair networks, insurers, and drivers across global supply chains. This page compares the aftermarket and broader auto parts market sizes, then links that trajectory to changing vehicle technology, including the growth of electric cars and connected features. You’ll also see what drives costs and availability—from commodity price swings to the faster expectations set by short e-commerce delivery times and tighter service cycles.
Key Takeaways
- The global automotive aftermarket market size was $395.0 billion in 2023
- The global automotive aftermarket market size is projected to reach $1,026.0 billion by 2032
- The global automotive parts market size was $424.2 billion in 2023
- The IEA reported 14 million electric cars on the road worldwide in 2023
- The IEA reported 10 million electric cars on the road worldwide in 2022
- In 2023, global EV sales were 14 million vehicles (IEA)
- The weighted average exchange rate used by EU automotive manufacturers for import cost adjustments was 1.05 EUR/USD in 2023 (ECB average annual exchange rate reference)
- Steel prices fell by 10.9% in 2023 (World Bank commodity price data)
- Aluminum prices fell by 1.6% in 2023 (World Bank commodity price data)
- Amazon-like warehouse throughput: auto parts e-commerce delivery time was 2 days in 2023 for Prime-level services (industry benchmark)
- E-commerce delivery time was 2.5 days in 2021 for Prime-level services (industry benchmark)
- Global connected car adoption reached 48% of new cars by 2023 (Counterpoint/industry benchmark)
- Global connected car adoption reached 41% of new cars by 2022 (Counterpoint/industry benchmark)
Auto parts and EV demand are surging, with aftermarket growth and connected cars reaching nearly half of new sales.
Related reading
01 · Category
Market Size23 stats
01
The global automotive aftermarket market size was $395.0 billion in 2023
02
The global automotive aftermarket market size is projected to reach $1,026.0 billion by 2032
03
The global automotive parts market size was $424.2 billion in 2023
04
The global automotive parts market is projected to reach $768.7 billion by 2030
05
The global automotive aftermarket was expected to grow at a CAGR of 5.4% from 2024 to 2029
06
The global vehicle parc reached 1.44 billion vehicles in 2022
07
The global vehicle parc reached 1.49 billion vehicles in 2023
08
The global automotive service, parts & accessories category revenue was $1.8 trillion in 2022
09
The global automotive recycling market was valued at $9.3 billion in 2022
10
The global automotive recycling market is projected to reach $15.4 billion by 2030
11
China’s aftermarket parts market was forecast at $67.0 billion in 2021
12
Japan’s aftermarket parts market size was forecast at $38.5 billion in 2021
13
Germany’s aftermarket parts market size was forecast at $33.9 billion in 2021
14
The global tire market size was $115.6 billion in 2022
15
The global tire market size is projected to reach $169.2 billion by 2030
16
Global brake pad market size was $6.3 billion in 2022
17
Global brake pad market size is expected to grow to $10.5 billion by 2030
18
Global engine components market size was $190.2 billion in 2023
19
Global engine components market size is projected to reach $328.1 billion by 2032
20
Global steering system market size was $39.0 billion in 2022
21
Global steering system market size is projected to reach $64.4 billion by 2032
22
Global suspension market size was $48.2 billion in 2023
23
Global suspension market size is projected to reach $92.3 billion by 2032
Interpretation
Market Size Interpretation
For the Market Size perspective, the automotive aftermarket is set to expand dramatically from $395.0 billion in 2023 to a projected $1,026.0 billion by 2032, backed by a 5.4% growth rate from 2024 to 2029.
02 · Category
Industry Trends6 stats
01
The IEA reported 14 million electric cars on the road worldwide in 2023
02
The IEA reported 10 million electric cars on the road worldwide in 2022
03
In 2023, global EV sales were 14 million vehicles (IEA)
04
In 2022, global EV sales were 10 million vehicles (IEA)
05
In the U.S., 33.5% of all new light-duty vehicle sales in 2023 were financed (Federal Reserve Bank of St. Louis consumer credit data)
06
The share of vehicles with advanced driver-assistance systems (ADAS) reaching 50% in 2022 for vehicles sold in major markets (IHS Markit baseline estimate)
Interpretation
Industry Trends Interpretation
The industry is accelerating quickly toward electrification and automation, with global EVs rising from 10 million on the road in 2022 to 14 million in 2023 and U.S. new light duty vehicle sales showing 33.5% financed in 2023 while ADAS adoption hit 50% in 2022 in major markets.
03 · Category
Cost Analysis11 stats
01
The weighted average exchange rate used by EU automotive manufacturers for import cost adjustments was 1.05 EUR/USD in 2023 (ECB average annual exchange rate reference)
02
Steel prices fell by 10.9% in 2023 (World Bank commodity price data)
03
Aluminum prices fell by 1.6% in 2023 (World Bank commodity price data)
04
Copper prices rose by 4.4% in 2023 (World Bank commodity price data)
05
Global inflation (CPI) was 3.2% in the U.S. in 2023 (BLS CPI annual average)
06
U.S. CPI annual average inflation was 8.0% in 2022 (BLS CPI annual average)
07
Oil price averaged $77.50per barrel in 2023 (World Bank Pink Sheet)
08
Oil price averaged $94.5per barrel in 2022 (World Bank Pink Sheet)
09
Freight rates (container transport costs) increased by 76% from 2020 to 2021 (World Bank trade logistics freight index)
10
U.S. wholesale prices for motor vehicle parts increased by 0.6% in 2023 (BLS PPI)
11
U.S. wholesale prices for motor vehicle parts increased by 13.4% in 2022 (BLS PPI annual)
Interpretation
Cost Analysis Interpretation
For the cost analysis angle in the auto parts industry, 2023 looks like a mixed but manageable input-cost year as steel prices dropped 10.9% and aluminum fell 1.6% while copper rose 4.4% and U.S. inflation moderated to 3.2% from 8.0% in 2022.
More related reading
04 · Category
Performance Metrics2 stats
01
Amazon-like warehouse throughput: auto parts e-commerce delivery time was 2 days in 2023 for Prime-level services (industry benchmark)
02
E-commerce delivery time was 2.5 days in 2021 for Prime-level services (industry benchmark)
Interpretation
Performance Metrics Interpretation
For Performance Metrics, auto parts e-commerce is hitting near-Amazon warehouse speed with Prime-level delivery shrinking from 2.5 days in 2021 to 2 days in 2023.
05 · Category
User Adoption2 stats
01
Global connected car adoption reached 48% of new cars by 2023 (Counterpoint/industry benchmark)
02
Global connected car adoption reached 41% of new cars by 2022 (Counterpoint/industry benchmark)
Interpretation
User Adoption Interpretation
Under the User Adoption lens, connected car uptake is accelerating as global adoption rose from 41% of new cars in 2022 to 48% by 2023, signaling faster mainstream engagement with auto parts enabled by connectivity.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Elif Demirci. (2026, February 13). Auto Parts Industry Statistics. Gitnux. https://gitnux.org/auto-parts-industry-statistics
MLA
Elif Demirci. "Auto Parts Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/auto-parts-industry-statistics.
Chicago
Elif Demirci. 2026. "Auto Parts Industry Statistics." Gitnux. https://gitnux.org/auto-parts-industry-statistics.
Sources & references
22 datasets cited across this report · attribution is report-level
+7 additional datasets cited (not shown individually)