Wholesale and Distribution Automotive Aftermarket Analysis And Forecast
Posted by Neha Bora on March 19th, 2020
The Report Wholesale and Distribution Automotive Aftermarket Analysis By Replacement Part (Tire, Battery, Brake Parts, Filters, Body Parts, Lighting & Electronic Components, Wheels, Exhaust Components) And Segment Forecasts, 2018 – 2025
The global wholesale & distribution automotive aftermarket is expected to reach USD 277.37 billion by 2025, according to a new report conducted by Grand View Research, Inc. Digitalization of automotive repair & component sales, complemented with 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 new component market growth. The market has been categorized based on replacement parts into tire, battery, brake parts, filters, body parts, lighting & electronic components, wheels, exhaust components and other replacement parts
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 these countries. Similar surges in the automotive manufacturing sector across various regions, along with increasingly stringent norms regarding emissions, are expected to drive the growth of automotive aftermarket component sales over the forecast period.
The Asia Pacific regional market is expected to be the fastest-growing market for automotive collision repair services 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, the number of specialized repair centers dedicated toward repair of particular vehicles is expected to increase.
The wholesale & distribution automotive aftermarket is expected to witness tremendous growth due to an upsurge in the number of vehicle collisions along with the inclination of owners toward repairing automobiles.
Further key findings from the report suggest:
Access Research Report of Wholesale and Distribution Automotive Aftermarket @ https://www.grandviewresearch.com/industry-analysis/wholesale-distribution-wd-automotive-aftermarket-industry
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About the AuthorNeha Bora
Joined: September 16th, 2019
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