Key Highlights
- The global automotive aftermarket is expected to reach $1.4 trillion by 2027
- The automotive aftermarket industry accounts for approximately 60% of total revenue in the automotive sector
- Over 4 million auto parts are manufactured annually for the aftermarket industry
- The e-commerce share of automotive aftermarket sales is projected to reach 23% by 2025
- North America holds approximately 35% of the global automotive aftermarket market share
- The Asia-Pacific region is expected to grow at a CAGR of 5.2% from 2023 to 2030 in automotive aftermarket revenues
- The average age of vehicles on U.S. roads is over 12 years, increasing demand for aftermarket parts
- Tire sales make up roughly 30% of the total revenue within the automotive aftermarket industry
- The automotive aftermarket employs approximately 5 million people globally
- The global automotive repair and maintenance parts market is expected to grow at a CAGR of 3.8% until 2028
- Original Equipment Manufacturer (OEM) parts account for about 55% of aftermarket sales
- The average car owner spends around $370 annually on aftermarket auto parts and accessories
- Aftermarket sales are significantly boosted by the increasing popularity of professional and DIY car repairs
The automotive aftermarket industry is steering into a lucrative future, with projections set to hit $1.4 trillion by 2027 and evolving supply chain dynamics driven by rising e-commerce, technological innovation, and shifting consumer preferences worldwide.
Market Size and Growth Trends
- The global automotive aftermarket is expected to reach $1.4 trillion by 2027
- The automotive aftermarket industry accounts for approximately 60% of total revenue in the automotive sector
- Over 4 million auto parts are manufactured annually for the aftermarket industry
- The e-commerce share of automotive aftermarket sales is projected to reach 23% by 2025
- The Asia-Pacific region is expected to grow at a CAGR of 5.2% from 2023 to 2030 in automotive aftermarket revenues
- The average age of vehicles on U.S. roads is over 12 years, increasing demand for aftermarket parts
- The automotive aftermarket employs approximately 5 million people globally
- The global automotive repair and maintenance parts market is expected to grow at a CAGR of 3.8% until 2028
- Aftermarket sales are significantly boosted by the increasing popularity of professional and DIY car repairs
- The global collision repair market, a facet of the aftermarket, is projected to reach $273 billion by 2026
- Over 65% of aftermarket parts are purchased through independent auto parts stores
- The aftermarket segment including heavy-duty vehicles is projected to grow at a CAGR of 4.1% through 2030
- The automotive aftermarket parts market for vintage and classic cars is growing at a rate of 6% annually
- The global demand for brake parts is forecasted to grow at a CAGR of 4.3% between 2022 and 2028
- The aftermarket industry in Europe is expected to grow at a CAGR of 3.5% from 2023 to 2030
- The aftermarket market for electric vehicle (EV) components is expected to grow at a CAGR of 30% over the next decade
- The average cost of vehicle repairs in the aftermarket industry is approximately $600 per incident, with variations based on vehicle age and extent of damage
- The global market for aftermarket collision avoidance systems is projected to reach $9 billion by 2025
- The aftermarket industry has seen a 12% annual increase in the use of data analytics for inventory optimization
- The aftermarket sector accounts for about 22% of global automotive parts manufacturing revenue
- The use of biodegradable and sustainable materials in aftermarket parts is rising, with a 7% annual growth rate
- The adoption rate of autonomous vehicle aftermarket components is projected to grow at 25% annually over the next 5 years
Market Size and Growth Trends Interpretation
Product and Component Markets
- Tire sales make up roughly 30% of the total revenue within the automotive aftermarket industry
- Original Equipment Manufacturer (OEM) parts account for about 55% of aftermarket sales
- The average car owner spends around $370 annually on aftermarket auto parts and accessories
- Electronics and diagnostic tools constitute about 25% of aftermarket parts sales
- Software solutions for inventory and supply chain management are adopted by over 60% of aftermarket companies
- The surge in used car sales has increased aftermarket parts demand by an estimated 15%
- The average lifetime of aftermarket auto parts is around 80,000 miles, varying by part type and quality
Product and Component Markets Interpretation
Regional and Demographic Insights
- North America holds approximately 35% of the global automotive aftermarket market share
Regional and Demographic Insights Interpretation
Supply Chain, Logistics, and Industry Challenges
- Logistics costs comprise roughly 10-15% of total expenses in the automotive aftermarket supply chain
- The average lead time for automotive aftermarket parts delivery is approximately 10 days, depending on the geographic region
- The value chain disruptions caused by the COVID-19 pandemic have led to over 20% increase in parts procurement costs
- The shift towards electric vehicles is expected to reshape the supply chain dynamics in the aftermarket industry over the next decade
- In 2022, global spare parts exports from China increased by 12%, reflecting supply chain shifts in the industry
- Fleet operators prefer aftermarket parts with a 90% or higher fitment success rate, to minimize downtime
- The integration of IoT devices in the supply chain can reduce inventory inaccuracies by up to 50%
- Around 60% of aftermarket parts are sourced from Asia, predominantly China, due to cost advantages
- The average time to restore supply chain operations after disruption is approximately 45 days, depending on suppliers and logistics
- The overall profit margin in the automotive aftermarket industry is approximately 13%, influenced by parts quality and supply chain efficiency
Supply Chain, Logistics, and Industry Challenges Interpretation
Technological Innovations and Digitalization
- The use of artificial intelligence in supply chain management is expected to improve efficiency by up to 30%
- Almost 70% of automotive aftermarket retailers are investing in digital tools to enhance inventory management
- The adoption of 3D printing in parts manufacturing is projected to reduce production costs by 20% in the next 5 years
- Over 50% of aftermarket customers prefer online shopping due to convenience and wider selection
- The use of cloud-based platforms in supply chain management is adopted by roughly 40% of aftermarket suppliers
- Over 45% of repair shops now offer mobile diagnostics and repair solutions, increasing customer convenience
- The aftermarket industry’s adoption of blockchain technology for traceability and authenticity verification is projected to increase by 35% over the next 3 years
Technological Innovations and Digitalization Interpretation
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