GITNUX REPORT 2024

Global Automotive Aftermarket Industry Statistics: Market Growth and Projections

Dive into the booming automotive aftermarket industry with key stats and projections for 2021-2030.

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

The global automotive collision repair market size was valued at USD 173.3 billion in 2020.

Statistic 2

The automotive collision repair market is expected to grow at a CAGR of 2.8% from 2021 to 2028.

Statistic 3

The paints and coatings segment accounted for 34.5% of the automotive collision repair market share in 2020.

Statistic 4

The global automotive refinish coatings market size was valued at USD 8.5 billion in 2020.

Statistic 5

The automotive refinish coatings market is expected to grow at a CAGR of 4.9% from 2021 to 2028.

Statistic 6

The global automotive diagnostics market size was valued at USD 40.13 billion in 2019.

Statistic 7

The automotive diagnostics market is expected to grow at a CAGR of 4.5% from 2020 to 2027.

Statistic 8

The global automotive telematics market size was valued at USD 50.4 billion in 2020.

Statistic 9

The automotive telematics market is expected to grow at a CAGR of 20.7% from 2021 to 2028.

Statistic 10

The global automotive software market size was valued at USD 18.5 billion in 2020.

Statistic 11

The automotive software market is expected to grow at a CAGR of 17.2% from 2021 to 2028.

Statistic 12

The global automotive ADAS market size was valued at USD 27.29 billion in 2020.

Statistic 13

The automotive ADAS market is expected to grow at a CAGR of 11.9% from 2021 to 2028.

Statistic 14

The global automotive infotainment market size was valued at USD 20.97 billion in 2020.

Statistic 15

The automotive infotainment market is expected to grow at a CAGR of 8.7% from 2021 to 2028.

Statistic 16

The global automotive aftermarket e-commerce market size was valued at USD 78.74 billion in 2020.

Statistic 17

The automotive aftermarket e-commerce market is projected to reach USD 191.54 billion by 2030.

Statistic 18

The automotive aftermarket e-commerce market is expected to grow at a CAGR of 9.3% from 2021 to 2030.

Statistic 19

In 2020, the DIY segment accounted for 54.5% of the automotive aftermarket e-commerce market share.

Statistic 20

The global automotive aftermarket size was valued at USD 408.51 billion in 2021.

Statistic 21

The automotive aftermarket is expected to grow at a CAGR of 3.8% from 2022 to 2030.

Statistic 22

The U.S. automotive aftermarket size was estimated at USD 75.9 billion in 2021.

Statistic 23

The Asia Pacific region is expected to witness the fastest growth in the automotive aftermarket, with a CAGR of 4.5% from 2022 to 2030.

Statistic 24

The global automotive parts market size was valued at USD 1,895.75 billion in 2020.

Statistic 25

The automotive parts market is projected to grow from USD 2,033.25 billion in 2021 to USD 3,028.31 billion in 2028.

Statistic 26

The automotive parts market is expected to grow at a CAGR of 5.9% from 2021 to 2028.

Statistic 27

The global automotive brake pads market size was valued at USD 11.7 billion in 2020.

Statistic 28

The automotive brake pads market is expected to grow at a CAGR of 5.1% from 2021 to 2028.

Statistic 29

The global automotive filters market size was valued at USD 21.65 billion in 2019.

Statistic 30

The automotive filters market is expected to grow at a CAGR of 3.2% from 2020 to 2027.

Statistic 31

The global automotive lubricants market size was valued at USD 64.68 billion in 2020.

Statistic 32

The automotive lubricants market is expected to grow at a CAGR of 4.1% from 2021 to 2028.

Statistic 33

The global automotive battery market size was valued at USD 56.9 billion in 2020.

Statistic 34

The automotive battery market is expected to grow at a CAGR of 5.9% from 2021 to 2028.

Statistic 35

The global automotive tires market size was valued at USD 112.16 billion in 2019.

Statistic 36

The automotive tires market is expected to grow at a CAGR of 4.1% from 2020 to 2027.

Statistic 37

The global automotive aftermarket for performance parts market size was valued at USD 339.7 billion in 2020.

Statistic 38

The automotive aftermarket for performance parts market is expected to grow at a CAGR of 3.6% from 2021 to 2028.

Statistic 39

The global automotive tuning and styling market size was valued at USD 43.7 billion in 2020.

Statistic 40

The automotive tuning and styling market is expected to grow at a CAGR of 4.2% from 2021 to 2028.

Statistic 41

The global automotive wheel aftermarket size was valued at USD 3.5 billion in 2019.

Statistic 42

The automotive wheel aftermarket is expected to grow at a CAGR of 3.8% from 2020 to 2027.

Statistic 43

The global automotive lighting market size was valued at USD 27.0 billion in 2020.

Statistic 44

The automotive lighting market is expected to grow at a CAGR of 5.3% from 2021 to 2028.

Statistic 45

The global automotive aftermarket for brake components market size was valued at USD 64.8 billion in 2020.

Statistic 46

The automotive aftermarket for brake components market is expected to grow at a CAGR of 3.4% from 2021 to 2028.

Statistic 47

The global automotive aftermarket for exhaust components market size was valued at USD 35.9 billion in 2020.

Statistic 48

The automotive aftermarket for exhaust components market is expected to grow at a CAGR of 3.2% from 2021 to 2028.

Statistic 49

The global automotive aftermarket for suspension components market size was valued at USD 68.3 billion in 2020.

Statistic 50

The automotive aftermarket for suspension components market is expected to grow at a CAGR of 3.5% from 2021 to 2028.

Statistic 51

The global automotive aftermarket for engine components market size was valued at USD 187.3 billion in 2020.

Statistic 52

The automotive aftermarket for engine components market is expected to grow at a CAGR of 3.7% from 2021 to 2028.

Statistic 53

The global automotive aftermarket for transmission components market size was valued at USD 64.2 billion in 2020.

Statistic 54

The automotive aftermarket for transmission components market is expected to grow at a CAGR of 3.3% from 2021 to 2028.

Statistic 55

The global automotive aftermarket for electrical components market size was valued at USD 31.5 billion in 2020.

Statistic 56

The automotive aftermarket for electrical components market is expected to grow at a CAGR of 3.9% from 2021 to 2028.

Statistic 57

The global automotive aftermarket for HVAC components market size was valued at USD 21.7 billion in 2020.

Statistic 58

The automotive aftermarket for HVAC components market is expected to grow at a CAGR of 3.6% from 2021 to 2028.

Statistic 59

The average age of vehicles on the road in the U.S. reached 12.1 years in 2021.

Statistic 60

There are approximately 283 million vehicles on the road in the U.S. as of 2021.

Statistic 61

The global automotive repair and maintenance services market size was valued at USD 750.8 billion in 2020.

Statistic 62

The automotive repair and maintenance services market is expected to grow at a CAGR of 5.6% from 2021 to 2028.

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Summary

  • The global automotive aftermarket size was valued at USD 408.51 billion in 2021.
  • The automotive aftermarket is expected to grow at a CAGR of 3.8% from 2022 to 2030.
  • The U.S. automotive aftermarket size was estimated at USD 75.9 billion in 2021.
  • The Asia Pacific region is expected to witness the fastest growth in the automotive aftermarket, with a CAGR of 4.5% from 2022 to 2030.
  • The global automotive aftermarket e-commerce market size was valued at USD 78.74 billion in 2020.
  • The automotive aftermarket e-commerce market is projected to reach USD 191.54 billion by 2030.
  • The automotive aftermarket e-commerce market is expected to grow at a CAGR of 9.3% from 2021 to 2030.
  • In 2020, the DIY segment accounted for 54.5% of the automotive aftermarket e-commerce market share.
  • The average age of vehicles on the road in the U.S. reached 12.1 years in 2021.
  • There are approximately 283 million vehicles on the road in the U.S. as of 2021.
  • The global automotive repair and maintenance services market size was valued at USD 750.8 billion in 2020.
  • The automotive repair and maintenance services market is expected to grow at a CAGR of 5.6% from 2021 to 2028.
  • The global automotive parts market size was valued at USD 1,895.75 billion in 2020.
  • The automotive parts market is projected to grow from USD 2,033.25 billion in 2021 to USD 3,028.31 billion in 2028.
  • The automotive parts market is expected to grow at a CAGR of 5.9% from 2021 to 2028.

Buckle up, gearheads, because were about to take a thrilling ride through the fast and furious world of the automotive aftermarket! With the global automotive aftermarket size revving up to a staggering USD 408.51 billion in 2021 and expected to shift into overdrive with a CAGR of 3.8% from 2022 to 2030, its clear that the industry is firing on all cylinders. From the roaring growth in e-commerce sales to the expanding market for performance parts and telematics innovation, these statistics paint a picture of an industry thats not just changing gears but heading full speed ahead towards a turbocharged future. So, buckle up and lets take a spin through the fascinating world of automotive aftermarket statistics!

Collision Repair

  • The global automotive collision repair market size was valued at USD 173.3 billion in 2020.
  • The automotive collision repair market is expected to grow at a CAGR of 2.8% from 2021 to 2028.
  • The paints and coatings segment accounted for 34.5% of the automotive collision repair market share in 2020.
  • The global automotive refinish coatings market size was valued at USD 8.5 billion in 2020.
  • The automotive refinish coatings market is expected to grow at a CAGR of 4.9% from 2021 to 2028.

Interpretation

The global automotive collision repair and refinish coatings market seems to be painting quite the lucrative picture, with numbers that could make even the most seasoned car enthusiast do a double-take. With a colorful CAGR of 2.8% and 4.9% projected growth rates, it's clear that the industry is cruising towards a vibrant future. The paints and coatings segment holding a significant share further highlights the importance of not just fixing dents, but also adding that perfect glossy finish. In a world where cars are more than just a mode of transportation, these statistics serve as a reminder that even in the face of collisions, there's always room for a dazzling comeback.

Diagnostics and Technology

  • The global automotive diagnostics market size was valued at USD 40.13 billion in 2019.
  • The automotive diagnostics market is expected to grow at a CAGR of 4.5% from 2020 to 2027.
  • The global automotive telematics market size was valued at USD 50.4 billion in 2020.
  • The automotive telematics market is expected to grow at a CAGR of 20.7% from 2021 to 2028.
  • The global automotive software market size was valued at USD 18.5 billion in 2020.
  • The automotive software market is expected to grow at a CAGR of 17.2% from 2021 to 2028.
  • The global automotive ADAS market size was valued at USD 27.29 billion in 2020.
  • The automotive ADAS market is expected to grow at a CAGR of 11.9% from 2021 to 2028.
  • The global automotive infotainment market size was valued at USD 20.97 billion in 2020.
  • The automotive infotainment market is expected to grow at a CAGR of 8.7% from 2021 to 2028.

Interpretation

In a world where cars are becoming smarter than some of us, the automotive aftermarket industry is booming like never before. With statistics showing a projected growth in everything from diagnostics to telematics, software, ADAS, and infotainment, it's clear that our vehicles are not just mode of transportation, but rather high-tech companions on the road. As we strive for safer, more connected, and entertaining driving experiences, one can't help but wonder if soon our cars will be offering us advice on where to go for dinner or reminding us to buckle up before taking off. Keep your seat belts fastened, folks, the automotive future is speeding towards us at an exponential rate!

E-commerce

  • The global automotive aftermarket e-commerce market size was valued at USD 78.74 billion in 2020.
  • The automotive aftermarket e-commerce market is projected to reach USD 191.54 billion by 2030.
  • The automotive aftermarket e-commerce market is expected to grow at a CAGR of 9.3% from 2021 to 2030.
  • In 2020, the DIY segment accounted for 54.5% of the automotive aftermarket e-commerce market share.

Interpretation

The automotive aftermarket industry is revving up its online presence, with a global e-commerce market size that is zooming past the competition at a rapid pace. If we've learned anything from 2020, it's that the DIY spirit is alive and well, with more than half of the market share belonging to those who prefer to roll up their sleeves and get their hands dirty. With a projected market value that could make even the speediest of sports cars envious by 2030, it's clear that this industry is shifting gears towards the digital highway at full throttle.

Market Size and Growth

  • The global automotive aftermarket size was valued at USD 408.51 billion in 2021.
  • The automotive aftermarket is expected to grow at a CAGR of 3.8% from 2022 to 2030.
  • The U.S. automotive aftermarket size was estimated at USD 75.9 billion in 2021.
  • The Asia Pacific region is expected to witness the fastest growth in the automotive aftermarket, with a CAGR of 4.5% from 2022 to 2030.

Interpretation

In the ever-evolving dance of the automotive world, the aftermarket industry emerges as the unsung hero, with global revenues hitting a staggering USD 408.51 billion in 2021. As we gear up for the road ahead, a promising crescendo awaits, with a projected 3.8% CAGR from 2022 to 2030. Across the pond, the U.S. flaunts its automotive prowess with a cool USD 75.9 billion figure, while the Asia Pacific region revs up its engines for a turbocharged growth spurt, sprinting towards a zippy 4.5% CAGR in the coming decade. Buckle up, folks—looks like the aftermarket lane is about to get a whole lot busier and, dare I say, trendier.

Parts and Components

  • The global automotive parts market size was valued at USD 1,895.75 billion in 2020.
  • The automotive parts market is projected to grow from USD 2,033.25 billion in 2021 to USD 3,028.31 billion in 2028.
  • The automotive parts market is expected to grow at a CAGR of 5.9% from 2021 to 2028.
  • The global automotive brake pads market size was valued at USD 11.7 billion in 2020.
  • The automotive brake pads market is expected to grow at a CAGR of 5.1% from 2021 to 2028.
  • The global automotive filters market size was valued at USD 21.65 billion in 2019.
  • The automotive filters market is expected to grow at a CAGR of 3.2% from 2020 to 2027.
  • The global automotive lubricants market size was valued at USD 64.68 billion in 2020.
  • The automotive lubricants market is expected to grow at a CAGR of 4.1% from 2021 to 2028.
  • The global automotive battery market size was valued at USD 56.9 billion in 2020.
  • The automotive battery market is expected to grow at a CAGR of 5.9% from 2021 to 2028.
  • The global automotive tires market size was valued at USD 112.16 billion in 2019.
  • The automotive tires market is expected to grow at a CAGR of 4.1% from 2020 to 2027.

Interpretation

As the automotive aftermarket industry continues to rev up, it's clear that the wheels of innovation and consumer demand are propelling it forward at an impressive pace. With projected growth numbers that would make any economy jealous, it seems like the only thing burning more rubber than the tires is the ambition of those driving this sector. From brakes to batteries, filters to lubricants, every component is playing its part in a symphony of progress that shows no signs of hitting the brakes. So buckle up, because it looks like the aftermarket ride is just getting started, with numbers that speak louder than any revving engine.

Performance and Customization

  • The global automotive aftermarket for performance parts market size was valued at USD 339.7 billion in 2020.
  • The automotive aftermarket for performance parts market is expected to grow at a CAGR of 3.6% from 2021 to 2028.
  • The global automotive tuning and styling market size was valued at USD 43.7 billion in 2020.
  • The automotive tuning and styling market is expected to grow at a CAGR of 4.2% from 2021 to 2028.
  • The global automotive wheel aftermarket size was valued at USD 3.5 billion in 2019.
  • The automotive wheel aftermarket is expected to grow at a CAGR of 3.8% from 2020 to 2027.
  • The global automotive lighting market size was valued at USD 27.0 billion in 2020.
  • The automotive lighting market is expected to grow at a CAGR of 5.3% from 2021 to 2028.
  • The global automotive aftermarket for brake components market size was valued at USD 64.8 billion in 2020.
  • The automotive aftermarket for brake components market is expected to grow at a CAGR of 3.4% from 2021 to 2028.
  • The global automotive aftermarket for exhaust components market size was valued at USD 35.9 billion in 2020.
  • The automotive aftermarket for exhaust components market is expected to grow at a CAGR of 3.2% from 2021 to 2028.
  • The global automotive aftermarket for suspension components market size was valued at USD 68.3 billion in 2020.
  • The automotive aftermarket for suspension components market is expected to grow at a CAGR of 3.5% from 2021 to 2028.
  • The global automotive aftermarket for engine components market size was valued at USD 187.3 billion in 2020.
  • The automotive aftermarket for engine components market is expected to grow at a CAGR of 3.7% from 2021 to 2028.
  • The global automotive aftermarket for transmission components market size was valued at USD 64.2 billion in 2020.
  • The automotive aftermarket for transmission components market is expected to grow at a CAGR of 3.3% from 2021 to 2028.
  • The global automotive aftermarket for electrical components market size was valued at USD 31.5 billion in 2020.
  • The automotive aftermarket for electrical components market is expected to grow at a CAGR of 3.9% from 2021 to 2028.
  • The global automotive aftermarket for HVAC components market size was valued at USD 21.7 billion in 2020.
  • The automotive aftermarket for HVAC components market is expected to grow at a CAGR of 3.6% from 2021 to 2028.

Interpretation

In a world where even cars are constantly upgrading themselves, the automotive aftermarket industry is driving full speed ahead. With a global performance parts market valued at a whopping USD 339.7 billion in 2020 and expected to rev up at a CAGR of 3.6%, it seems that drivers are not just content with going from point A to point B. From tuning and styling to wheels, lighting, brakes, exhaust, suspension, engine, transmission, electrical, and HVAC components, it's clear that vehicles are undergoing a serious makeover. Buckle up, folks, because it looks like the automotive industry is gearing up for a wild - yet stylish - ride!

Vehicle Age and Maintenance

  • The average age of vehicles on the road in the U.S. reached 12.1 years in 2021.
  • There are approximately 283 million vehicles on the road in the U.S. as of 2021.
  • The global automotive repair and maintenance services market size was valued at USD 750.8 billion in 2020.
  • The automotive repair and maintenance services market is expected to grow at a CAGR of 5.6% from 2021 to 2028.

Interpretation

As American drivers hold on to their vehicles like cherished family heirlooms, with the average age reaching over a decade, the automotive aftermarket industry is poised for a long-term relationship with the 283 million strong fleet of cars and trucks roaming the highways. With a global market value surpassing three quarters of a trillion dollars, the repair and maintenance industry is revving its engines for a steady growth trajectory, projecting a 5.6% annual rate of acceleration from 2021 to 2028. So, buckle up, because it seems like the road ahead for automotive services is all clear, with plenty of pit stops for everyone's favorite four-wheeled companions.

References