Aftermarket Automotive Parts Market is Estimated to Witness High Growth Owing to Increased Adoption of Digital Mobility Technologies
Aftermarket Automotive Parts Market The aftermarket automotive parts market includes a wide range of car parts that are manufactured or sold for installation in a vehicle, as a replacement for original components. These include performance parts, exterior parts, suspension and braking components, glasses, engine parts, filtration and Wear items among others. Aftermarket parts provide substantial cost benefits, increased customizability, and better performance flexibility compared to OEM parts. The growing complexity of vehicles and rising vehicle ownership have driven the need for frequent repairs and part replacements, thus fueling market growth. The Global aftermarket automotive parts market is estimated to be valued at US$ 474.12 Bn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the aftermarket automotive parts market are Aisin Seiki Co., AutoZone, Inc., Bridgestone Corporation, Continental AG, Denso...