The automotive aftermarket include car manufacturing, remanufacturing, distribution, redistribution, end-of-sale, reselling, and installation. The aftermarket contains parts for replacement, collision repair, cosmetics, and performance upgrades. The use of modern technology has resulted in the digitization of automobile maintenance and component sales, increasing the attractiveness of the automotive aftermarket. Digitally enabled products and services are setting new trends and driving industry growth.
According to SPER market research, ‘Turkey Automotive Aftermarket Market Size- By Vehicle Type, By Replacement Parts, By Distribution Channel, By Certification- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Turkey Automotive Aftermarket Market is predicted to reach USD XX Billion by 2033 with a CAGR of XX%.
Turkey has established itself as a prominent manufacturing and engineering hub in the global automotive industry value chain. Turkey has the world's 15th largest automotive sector, because to its tremendous capabilities. The country's average export rate stays constantly high, strengthening its position as a significant hub for international corporations in terms of manufacturing, engineering, and export to worldwide markets.
The Turkish automotive industry is largely centered in a few major cities, notably Izmit, Bursa, Ankara, Izmir, and Aksaray, which serve as production and innovation hubs in the sector. Furthermore, favorable business circumstances have spurred a growth in domestic demand for Turkey's automobile sector.
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Replacement parts are in high demand, as are enhanced safety, connectivity, convenience, and driver assistance features. These qualities distinguish Turkey's advanced automotive sector. However, concerns like as improving and controlling chip shortages have been noted as potential challenges for automakers across the region.
OEM manufacturers are strategically preparing to expand their manufacturing plants in Turkey, with help from the Turkish government, which sees the automotive industry as a big revenue generator. The government actively promotes foreign direct investment in the automotive industry, encouraging its growth.
Turkey is one of the region's most significant and quickly increasing automotive markets. The industry's success is ascribed to a number of factors, including the availability of skilled labor, effective research and development initiatives, location advantages, and government assistance. With a positive economic outlook and increased consumer purchasing power, the country is likely to witness a major boost in auto sales in the coming year.
Impact of COVID-19 on Turkey Automotive Aftermarket Market
The COVID-19 pandemic had a significant impact on the Turkish automotive aftermarket business, resulting in supply chain disruptions, lower consumer spending, and decreased vehicle utilization due to lockdown measures. Due to economic uncertainties, buyers prioritized critical spending, which impacted aftermarket sales. Furthermore, mobility restrictions and social separation strategies hampered car repair and upkeep. However, once restrictions were eased, aftermarket demand steadily returned, fueled by pent-up repair requests and a tendency toward personal car ownership for safety reasons, generating confidence in the market's recovery despite ongoing impediments.
Turkey Automotive Aftermarket Market Key Players:
Additionally, some of the market key players are Aisin Corporation, Basbug Auto Spare Parts AS, Continental AG, ZF Friedrichshafen AG, Other.
Turkey Automotive Aftermarket Market Segmentation:
By Vehicle Type: Based on the Vehicle Type, Turkey Automotive Aftermarket Market is segmented as; Commercial Vehicle, Passenger Vehicle.
By Replacement Parts: Based on the Replacement Parts, Turkey Automotive Aftermarket Market is segmented as; Battery, Body Parts, Brake Parts, Exhaust Components, Filters, Lighting & Electronic Components, Tire, Wheels.
By Distribution Channel: Based on the Distribution Channel, Turkey Automotive Aftermarket Market is segmented as; Retailers, Wholesalers & Distributors.
By Certification: Based on the Certification, Turkey Automotive Aftermarket Market is segmented as; Certified Parts, Genuine Parts, Uncertified Parts.
By Region: This research also includes data for Aksaray, Ankara, Bursa, Izmir, Izmit, Others.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Turkey Automotive Aftermarket Market Revenue
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