Australia Automotive Aftermarket Parts Industry Set For Growth Driven by Increasing Vehicle
The automotive aftermarket parts industry in Australia is focused on providing replacement components and accessories for light, commercial and heavy vehicles. Original equipment manufacturers and independent outlets stock a wide range of parts including engines, transmissions, brakes, suspension, exterior and interior body parts. The automotive aftermarket parts industry aims to meet customer requirements through efficient distribution channels and supplying cost-effective replacement parts.
The Australia Automotive Aftermarket Market is estimated to be valued at USD 13.45 Bn in 2024 and is expected to reach USD 17.38 Bn by 2031, growing at a compound annual growth rate (CAGR) of 3.73% from 2024 to 2031.
Key players operating in the automotive aftermarket parts are Bosch, Denso, Magna International, Continental, ZF Friedrichshafen, Hyundai Mobis, Aisin Seiki, Faurecia, Lear, Valeo, Delphi, Yazaki, Sumitomo Electric, JTEKT, Thyssenkrupp, Mahle, Yanfeng Automotive, BASF, Magneti Marelli, Tenneco, Brembo, Hella, Knorr-Bremse, Hitachi, TVS Group, Hyundai WIA and NOK.
Key Takeaways
The growing vehicle parc in Australian Automotive Aftermarket by higher economic growth and consumer spending has been resulting in increasing demand for replacement parts and components in the aftermarket. Major players are focusing on expanding their distribution networks across regional areas to cater to the growing demand.
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