Automotive Aftermarket MarketPosted by pallavi on August 30th, 2019 Automotive Aftermarket Market size is valued at US$ 480 Bn in 2017 and expected to grow at a CAGR of 5% in the forecasting period. Strong automotive outlook coupled with the surge in the manufacturing of auto components will drive the automotive aftermarket industry demand by 2026. This can be attributed to increasing buyer’s awareness about periodic maintenance, safety, convenience and add-on services like installation of exterior & interior accessories, exhaust components, extended warranty covers, and 24/7 breakdown assistance that will fuel the market growth of automotive aftermarket. The industry offers a wide range of parts and accessories at varied prices and qualities for vehicles. Additionally, changing lifestyle and need for traveling long distance has led to increased average distance driven per vehicle. This has resulted in an increase in maintenance and replacement of automotive parts driving the automotive aftermarket industry growth. for more information visit https://www.maximizemarketresearch.com/market-report/automotive-aftermarket-market/13057/ Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
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Automotive aftermarket market is majorly segmented by the vehicle part, sales outlet and region wise. Based on the vehicle part, the market is segmented as replacement parts and accessories. Under this, replacement parts are expected to dominate the global automotive aftermarket market in 2017. These parts are used as a replacement to original auto parts after damage, wear & tear and reduction in the performance of a vehicle. Based on sales outlet, the market is segmented as professional, DIY and OEM.