Australia Automotive Aftermarket Poised to Grow Significantly in Coming Years
According to industry estimates, the total vehicles on road in Australia crossed over 23 million units in 2020. This growing vehicle population is resulting in higher demand for regular service and maintenance of existing vehicles. On average, Australian vehicles clock over 20,000 km per year which is one of the highest annual distance driven globally. This high usage puts additional wear and tear on vehicle parts leading to frequent replacements and repairs. Additionally, Australia's harsh road and climatic conditions also accelerate the deterioration of components further fueling higher aftermarket demand.
Rising Complexity of Modern Vehicles to Sustain Demand for Professional Garages & Technicians
Modern vehicles have become highly complex with integration of advanced driver assistance, safety, infotainment and emission control systems. Repairs and maintenance of such sophisticated components requires special tools, diagnostic equipment and technical know-how. This growing complexity has made it difficult for general vehicle owners to carry out repairs on their own. As a result, there is a rising trend of vehicle owners relying on professional automotive garages and workshops for even minor issues. The workshops are well equipped with latest tools and employ trained technicians certified by vehicle manufacturers. This reliance on professional servicing is driving steady growth of organized automotive aftermarket sector in Australia.
Opportunities in Expansion of Independent Aftermarket with Emphasis on Generic Components
While OEM spare parts certainly have an advantage in terms of fit and reliability due to vehicle-specific design, independent aftermarket component suppliers have been gaining ground with their focus on cost competitiveness. Independent players now offer comprehensive range of generic parts that can replace a variety of OEM components at significantly lower prices without compromising on quality and performance.
Australia Automotive Aftermarket Poised to Grow Significantly in Coming Years: https://www.coherentmi.com/blog/australia-automotive-aftermarket-poised-to-grow-significantly-in-coming-years-110
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