Key Highlights
- The automotive aftermarket industry is expected to reach a value of $442.7 billion by 2024
- The U.S. automotive aftermarket employs over 4 million people
- Approximately 68% of aftermarket parts are purchased through independent garages
- The global automotive aftermarket sector is projected to grow at a CAGR of 3.5% from 2021 to 2028
- The percentage of car owners who perform their own auto repairs is approximately 15%
- The number of automotive aftermarket service centers in North America exceeds 200,000
- Approximately 35% of automotive repair shops in the U.S. use digital tools for inventory management
- The average age of vehicles on the road in the U.S. reached 12.2 years in 2022, increasing the demand for aftermarket parts
- Female automotive technicians make up approximately 9% of the auto repair workforce
- The aftermarket brake parts segment is expected to account for nearly 20% of the total aftermarket revenue by 2025
With the automotive aftermarket poised to hit $442.7 billion by 2024 and employing over 4 million Americans, understanding the vital HR trends shaping this dynamic industry has never been more crucial.
Consumer Behavior and Ownership Trends
- Approximately 68% of aftermarket parts are purchased through independent garages
- The percentage of car owners who perform their own auto repairs is approximately 15%
- The average age of vehicles on the road in the U.S. reached 12.2 years in 2022, increasing the demand for aftermarket parts
Consumer Behavior and Ownership Trends Interpretation
Employment and Workforce Demographics
- The U.S. automotive aftermarket employs over 4 million people
- Female automotive technicians make up approximately 9% of the auto repair workforce
Employment and Workforce Demographics Interpretation
Market Size and Industry Growth
- The automotive aftermarket industry is expected to reach a value of $442.7 billion by 2024
- The global automotive aftermarket sector is projected to grow at a CAGR of 3.5% from 2021 to 2028
- The aftermarket brake parts segment is expected to account for nearly 20% of the total aftermarket revenue by 2025
Market Size and Industry Growth Interpretation
Service and Repair Facilities
- The number of automotive aftermarket service centers in North America exceeds 200,000
- Approximately 35% of automotive repair shops in the U.S. use digital tools for inventory management
Service and Repair Facilities Interpretation
Sources & References
- Reference 1STATISTAResearch Publication(2024)Visit source
- Reference 2AUTOMATIONWORLDResearch Publication(2024)Visit source
- Reference 3AUTOAPPLIANResearch Publication(2024)Visit source
- Reference 4GLOBENEWSWIREResearch Publication(2024)Visit source
- Reference 5AUTOINDUSTRIYAResearch Publication(2024)Visit source
- Reference 6NAMResearch Publication(2024)Visit source
- Reference 7AUTOTECHNICIANResearch Publication(2024)Visit source
- Reference 8CARSResearch Publication(2024)Visit source
- Reference 9SAEResearch Publication(2024)Visit source
- Reference 10RESEARCHANDMARKETSResearch Publication(2024)Visit source