Asia Pacific Automotive Aftermarket : Global Analysis for 2019–2020 and Forecasts to 2031

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Asia Pacific Automotive Aftermarket is to surpass USD 149.47 billion by 2031 at a CAGR of 5.14 % in the coming years, i.e., 2021-31.

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Description

Global Asia Pacific Automotive Aftermarket Market to surpass USD 149.47 billion by 2031 from USD 90.58 billion in 2021 at a CAGR of 5.14 % in the coming years, i.e., 2021-31.

Asia Pacific Automotive Aftermarket Product Overview

Automotive aftermarket is the major sector of the automotive industry including the automotive part businesses and automotive service industry. Automotive parts include bodies, chassis, interiors, mirrors, closures, roof systems, exteriors, seating, powertrains, electronics, and modules. All these parts and components are installed in a vehicle to offer the best driving experience to clients.

Market Highlights

Asia Pacific Automotive Aftermarket is expected to project a notable CAGR of 4.2 % in 2031.

The increasing requirement for scheduled servicing & maintenance to improve an aging vehicle’s lifetime years is boosting the regional industry growth. The growing penetration of OEMs in aftermarket activities coupled with the consolidation of parts distributors is providing a positive outlook for market expansion.

Asia Pacific Automotive Aftermarket: Segments

Wear and Tear segment to grow with the highest CAGR during 2021-31

Global Asia Pacific Automotive Aftermarket is segmented by Type into Crash-Relevant Parts, Appearance and Accessories, Wear and Tear Parts, and Diagnostics Products and Services. During the forecast period, the Wear and Tear Parts segment is estimated to hold the biggest market share and increase at the largest rate. This can be attributed to the short life span of these components. By the name, it suggests these parts are expected to be put in rough use and hence need to be replaced continuously which ultimately drives the Wear and Tear segment of Automotive Aftermarket.

Offline Distribution Channel segment to grow with the highest CAGR during 2020-30

Asia Pacific Automotive Aftermarket is divided by Distribution Channel into Online Distribution Channel, Offline Distribution Channel. During the forecast period, Offline Distribution Channel will be the fastest-growing market, and it is expected to dominate the market, this is due to the exam’s inability of the product. If a customer were to buy a product, they like to see and examine the product physically. This is the significant reason that boosts the Offline Distribution Channel segment.

Market Dynamics

Drivers

Rising demand for replacement parts

Rising maintenance requirements for excessive tension owing to vehicles’ aging and poor road conditions will drive the demand for aftermarket parts. Factors including low production expenses, an increasing number of manufacturers, and a rising number of accidents will further augment the market growth.

Growing Innovations to Comply with Stringent Norms

The rising demand for hybrid powertrain systems in vehicles and the enactment of stringent norms are a few of the major factors boosting the growth of the automotive component systems market. With the increasing concern on environmental pollution, all the countries in the region have been extensively working to tackle vehicle emissions. Therefore, boosting the Asia Pacific Automotive Aftermarket.

Restraint

High competition

The highly crowded market with competitors ranging from small-scale independent players to big corporates is one of the main factors that hamper the market growth.

Global Asia Pacific Automotive Aftermarket: Key Players

BASF SE

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

Yazaki Corporation
Denso Corporation
Continental AG
Hella KGaA Huech & Co.
Bridgestone Corporation
Yangfeng Automotive Interiors Systems Co., Ltd.
Delphi Automotive PLC
3M
Lear Corporation
Toyota Motor Company
Other Prominent Players

Global Asia Pacific Automotive Aftermarket: Regions

Global Asia Pacific Automotive Aftermarket is segmented based on regional analysis into the following major regions: China, India, Indonesia, Malaysia, and Thailand. Based on geography, China dominated the Asia Pacific aftermarket industry with about half the market share of Asia Pacific automotive aftermarket industry. On the other hand, South East region is the fastest-growing region for automotive aftermarket industry majorly driven by Indonesia, Malaysia, and Thailand. Nevertheless, the pace of growth in Asia Pacific aftermarket industry is expectable to slow down in the future, mainly because of the general slowdown of China’s economic growth in the coming years.

Global Asia Pacific Automotive Aftermarket is further segmented by region into:

China Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
India Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
Indonesia Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
Malaysia Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
Thailand Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR
Global Asia Pacific Automotive Aftermarket report also contains analysis on:
Asia Pacific Automotive Aftermarket Segments

By Type

Crash-Relevant Parts
Appearance and Accessories
Wear and Tear Parts
Diagnostics Products and Services

By Distribution Channel

Online Distribution Channel
Offline Distribution Channel

Asia Pacific Automotive Aftermarket Dynamics
Asia Pacific Automotive Aftermarket Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints

Asia Pacific Automotive Aftermarket Report Scope and Segmentation

Report Attribute Details

Market size value in 2021 USD 90.58 billion
Revenue forecast in 2031 USD 149.47 billion
Growth Rate CAGR of 5.14% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2031
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends.
Segments covered Type, Distribution Channel, and Region
Regional scope China, India, Indonesia, Malaysia, and Thailand
Key companies profiled Yazaki Corporation, Denso Corporation, Continental AG, Hella KGaA Huech & Co., Bridgestone Corporation, Yangfeng Automotive Interiors Systems Co., Ltd., BASF SE, Delphi automotive PLC, 3M, Lear Corporation, Toyota Motor Company, Other Prominent Players.

Research Report on China’s Automotive Wiring Harness Industry, 2022-2030

Additional information

Publisher

Geography Covered

Date Published

,

Pages

Format

Table of Contents

Contents
1. Executive Summary
2. Asia Pacific Automotive Aftermarket
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Asia Pacific Automotive Aftermarket Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Asia Pacific Automotive Aftermarket
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. Asia Pacific Automotive Aftermarket: Market Segmentation
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F

12.2. By Type: Market Share (2020-2030F)
12.2.1. Crash-Relevant Parts, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Appearance and Accessories, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.3. Wear and Tear Parts, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.4. Diagnostics Products and Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By Distribution Channel: Market Share (2020-2030F)
12.3.1. Online, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Offline, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
13 Company Profile
13.1. BASF SE
13.1.1. Company Overview
13.1.2. Company Total Revenue (Financials)
13.1.3. Market Potential
13.1.4. Global Presence
13.1.5. Key Performance Indicators
13.1.6. SWOT Analysis
13.1.7. Product Launch
13.2. Yazaki Corporation
13.3. Denso Corporation
13.4. Continental AG
13.5. Hella KGaA Huech & Co.
13.6. Bridgestone Corporation
13.7. Yangfeng Automotive Interiors Systems Co., Ltd.
13.8. Delphi automotive PLC
13.9. 3M
13.10. Lear Corporation
13.11. Toyota Motor Company
13.12. Other Prominent Players

14 Consultant Recommendation
**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.