Future of Automotive Aftermarket

The study involved analyzing the recent developments, trends, and performance of the players and the global automotive aftermarket industry for 2024, along with the projections for 2030. The analysis was based on the sales volume and vehicle parc of light vehicles on a global and regional level. The study also analyzes the significant milestones in the global automotive aftermarket industry across vehicle connectivity, e-commerce, re-manufacturing, digitalization, electrification, and other critical aspects in 2024. An exhaustive secondary research collected information on the market, peer, and parent markets. The next step was to validate these findings & assumptions and size them with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the global and regional aftermarket size for all the key components considered. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

The secondary sources referred for this research study include automotive OEMs, Tier I/II companies, and publications from government sources, automotive associations & databases [such as country-level automotive associations and organizations, European Automobile Manufacturers’ Association (ACEA), National Automotive Part Association (NAPA), Society of Indian Automotive Manufacturers (SIAM), International Energy Agency (IEA), Organization Internationale des Constructeurs d’Automobiles (OICA), European Automobile Manufacturers Association (ACEA), MarkLines and others]; corporate filings (annual reports, investor presentations, and financial statements); and trade, business, and automotive associations. Secondary data has been collected and analyzed to determine the overall sales volume, further validated through primary research.

Primary Research

Extensive primary research has been conducted after understanding the light vehicle aftermarket scenario through secondary research. Primary research was done to understand and validate the findings on the light vehicle sales and aftermarket performance in 2024 and validate the projections made for 2030.

Several primary interviews have been conducted with market experts from both the demand (OEMs/vehicle manufacturers) side and the industry’s supply side. Approximately 80% of the experts involved in primary interviews have been from the demand side, and 20% have been from the industry’s supply side. Primary data has been collected through questionnaires, emails, and telephonic interviews. Various organizational departments, such as sales, operations, and administration, have conducted several primary interviews to provide a holistic viewpoint in the report.

After interacting with industry participants, some brief sessions have been conducted with experienced independent consultants to reinforce the findings from the primary interviews. This, along with the opinions of the in-house subject matter experts, has led to the findings in the rest of this report.

Market Size Estimation

The bottom-up approach was used to estimate and validate the global automotive aftermarket. This approach was also used to identify the sales of various subsegments in the market. The research methodology used to estimate the market includes the following:

Future of Automotive Aftermarket : Bottom-Up Approach

To know about the assumptions considered for the study, download the pdf brochure

Data Triangulation

The global automotive aftermarket 2030 analyzes the aftermarket demand for key components and leading trends impacting the aftermarket, which include the rising penetration of EVs across the key regions, rising average age and miles traveled in a year, and the growing role of new-age business models in developing sustainable revenue streams and their variation based on IAM and OES players.