Worldwide Automotive wholesale and distribution aftermarket is projected to amass over USD 295.2 billion by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2026.
Key findings of the automotive wholesale and distribution aftermarket market report are listed below:
• Depending on the vehicle type, the passenger vehicles segment reaped the highest revenue in the global market, in the year 2017.
• In terms of regional proliferation, North America amassed the biggest share of the worldwide market, in the year 2017.
According to the report, the growing automotive industry together with rising average vehicle shelf life is the leading propeller of the market growth. The utilization of advanced technology for fabricating auto parts, and rising passenger vehicle sale, particularly in developing nations of Asia Pacific, enhances market size. Of late, consumers have become aware of proper repair and maintenance of vehicles, which further advances the industry landscape. Other market drivers include rising need for long distance travel, changing lifestyles, and technological enhancements pertaining to telematics. Evolving consumer demographics, and emerging new markets, would offer enormous market growth opportunities in the future, cites the report.
Speaking of the regional proliferation, North America accrued the largest share of the global automotive wholesale and distribution aftermarket market in the year 2017. The regional contribution can be attributed to the flourishing automotive business in the region, technological enhancements, and massive research and development investment.
According to the findings of the report, the Asia Pacific automotive wholesale and distribution aftermarket market is anticipated to develop at the fastest pace over the estimated period. This growth can be credited to the economic development in nations such as India and China, as well as the rising standard of living and surging disposable income of people in the region. Also, the increasing expansion of global players in these APAC nations with intentions to tap market potential is also adding positive impetus to market growth. Favorable regulatory outlook promoting manufacturing of aftermarket components as well as the poor condition of roads in emerging nations like Pakistan and India is slated to amplify the revenue scale of the automotive wholesale and distribution aftermarket market over the forecast period, suggests the study.
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The product landscape of this market has been bifurcated into lighting & electronic components, body parts, filters, battery, tire, wheels, exhaust components, and others. The report projects the share of the market held by each product segment, as well as the revenue potential of each product over the forecast duration.
The leading organizations profiled in the latest market report include Federal-Mogul Corporation, Cooper Tire & Rubber Company, Goodyear Tire & Rubber Company, Magneti Marelli S.p.A, Delphi Automotive PLC, 3M Company, Continental AG, ZF Friedrichshafen AG, Robert Bosch GmbH, and Denso Corporation. These organizations concentrate on launching innovative products, partnerships, mergers & acquisitions, and geographical expansion to augment their position in the global business space.
The automotive wholesale and distribution aftermarket market report also provides significant actionable insights pertaining to a plethora of important market parameters including market drivers, challenges, opportunities, Porter's five forces, pest analysis, value chain, and competitive ranking Analysis over the estimated timeframe.