Automotive Aftermarket Industry Innovations: Technology Shaping the Future
The global automotive aftermarket industry size is estimated to reach USD 589.01 billion by 2030, registering to grow at a CAGR of 3.8% from 2025 to 2030 according to a new report by Grand View Research, Inc. Digitalization of automotive repair & component sales complemented by advanced technology incorporations in the automobile aftermarket component manufacturing is expected to boost the market growth. The surging reception of semi-autonomous, electric vehicles, and hybrid & autonomous cars, in the years to come, is further expected to bolster the demand for new components.
Furthermore, the increasing vehicle penetration is driven by the overall improvement of lifestyle in developing countries, such as India and Brazil, and is expected to drive the growth of the automobile industry in the region. Similar surges in the automotive manufacturing sector across various regions along with the increasingly stringent emissions norms are expected to drive the growth of automotive aftermarket component sales over the forecast period. Third-party services and technology offer new and profitable revenue streams, to leverage all these opportunities.
Gather more insights about the market drivers, restrains and growth of the Global Automotive Aftermarket Industry
In addition, the industry requires investment in product development, supply chain, organizational design, and pricing model to create a great surge in demand. The rise of digital channels or social media influence is also fueling the sale of the automotive aftermarket. These online channels provide customers with all the information regarding the price of the past, and the prior user experience, making the purchasing process smoother. To support the initiatives for leveraging market foothold, the manufacturers in developing countries are adopting various strategies, including mergers, acquisitions, and partnerships.
The Asia-Pacific regional market is expected to be the fastest growing market for aftermarket over the forecast period, owing to its developing living standards and high vehicle production. It is also anticipated to be the fastest-growing market in automobile production. With the growing penetration and acceptance of gas and hybrid electric cars, specialized repair centers dedicated to the repair of particular vehicles are expected to increase. The global aftermarket is expected to witness tremendous growth due to an upsurge in the number of vehicle collisions along with the inclination of owners toward the repair of their automobiles.
Automotive Aftermarket Industry Report Highlights
- In terms of market size, the other segment dominated the market with a share of 47.33% in 2024.
- In terms of market size, the retail segment dominated the market with a share of 54.8% in 2024. The retail segment is anticipated to dominate the market arena in terms of size by 2030.
- In terms of market size, the original equipment segment dominated the market with a share of 69.2% in 2024. The OE segment is anticipated to dominate the aftermarket arena in terms of size by 2030.
- In terms of market size, the genuine parts segment dominated the market with a share of 51.4% in 2024. The genuine segment is anticipated to dominate the aftermarket arena in terms of size by 2030.
List of Key Players in Automotive Aftermarket Industry
- 3M Company
- Continental AG
- Cooper Tire & Rubber Company
- Delphi Automotive PLC
- Denso Corporation
- Federal-Mogul Corporation
- HELLA KGaA Hueck & Co.
- Robert Bosch GmbH
- Valeo Group
- ZF Friedrichshafen AG
Order a free sample PDF of the Automotive Aftermarket Industry Intelligence Study, published by Grand View Research.
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