Automotive Aftermarket Market: Demand, Size, Share and Outlook

Automotive Aftermarket Market Outlook

The global automotive aftermarket market size was valued at approximately USD 503.29 billion in 2024 and is projected to grow at a compound annual growth rate (CAGR) of 4.6% between 2025 and 2034. By 2034, the market is expected to reach a value of around USD 754.41 billion. This growth is driven by the increasing number of vehicles on the road, advancements in automotive technology, and the growing demand for replacement parts and services as vehicles age. As consumer spending on vehicle maintenance and repairs rises, the automotive aftermarket industry continues to play a crucial role in the global automotive ecosystem.

The automotive aftermarket includes replacement parts, accessories, lubricants, and services that are provided after the initial sale of the vehicle. With the rise in vehicle ownership, coupled with advancements in vehicle technology, the market for replacement parts and maintenance services is expanding, contributing to the overall growth of the automotive aftermarket industry.

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Automotive Aftermarket Market Trends

Several trends are influencing the growth of the global automotive aftermarket market:

Increasing Vehicle Age: As vehicles on the road age, the demand for aftermarket parts and services is increasing. Older vehicles require more frequent repairs and part replacements, driving the need for aftermarket solutions. Consumers are also looking to extend the lifespan of their vehicles, which is contributing to the growing market for replacement parts.
Growth of Electric Vehicles (EVs): The rise in electric vehicles (EVs) is a significant trend in the automotive aftermarket. While the parts required for EVs differ from traditional internal combustion engine (ICE) vehicles, there is an increasing demand for EV-specific aftermarket parts such as batteries, chargers, and electric motor components.
E-commerce and Online Sales Channels: The increasing shift towards online shopping is affecting the automotive aftermarket industry. Consumers are increasingly purchasing replacement parts and accessories through online platforms, taking advantage of the convenience, competitive pricing, and a broader selection of products. E-commerce platforms are becoming crucial distribution channels for aftermarket parts.
Technological Advancements in Automotive Parts: Advancements in automotive technology, such as the introduction of sensors, AI, and advanced vehicle diagnostics, are changing the nature of aftermarket parts. Consumers are seeking more sophisticated, high-performance components, including sensors, lighting, and advanced brake systems, which is driving innovation in the aftermarket parts sector.
Increasing DIY and DIFM Segments: The "Do It Yourself" (DIY) segment is growing, especially among vehicle enthusiasts and owners who prefer to perform their own maintenance and repairs. On the other hand, the "Do It For Me" (DIFM) segment, where consumers prefer professional installation, is also expanding, driven by the increasing complexity of vehicle systems and consumer convenience.

Automotive Aftermarket Market Growth

The global automotive aftermarket market is expected to experience significant growth, driven by several key factors:

Rising Vehicle Ownership: With increasing disposable incomes and urbanization, vehicle ownership is on the rise, especially in emerging markets such as India, China, and Southeast Asia. This growth in the number of vehicles on the road directly impacts the demand for replacement parts and aftermarket services.
Advancements in Vehicle Technology: As vehicles become more technologically advanced, the demand for specialized aftermarket parts and services is growing. New technologies in vehicles require more complex and specific aftermarket solutions, driving the need for high-performance and durable components.
Increase in Vehicle Maintenance and Repair Spending: Consumers are becoming more aware of the importance of regular vehicle maintenance and repairs, leading to higher spending on aftermarket parts and services. This trend is supported by the growing availability of aftermarket parts, as well as the increasing number of service providers.
Rise of Sustainable Automotive Solutions: There is a growing emphasis on sustainability in the automotive industry, including the use of recycled parts, eco-friendly materials, and energy-efficient components. The shift toward green automotive solutions is contributing to the growth of the automotive aftermarket, as consumers seek eco-friendly alternatives for replacement parts.
Expansion in Emerging Markets: The growth of automotive markets in regions such as Asia Pacific, Latin America, and the Middle East is driving the expansion of the automotive aftermarket. As these regions continue to develop, there is a rising demand for vehicles, maintenance services, and replacement parts.

Automotive Aftermarket Market Segmentation

The global automotive aftermarket market can be segmented based on replacement parts, vehicle types, propulsion, distribution channels, service channels, certification, and region.

Breakup by Replacement Part:

Tyre: Tyres are one of the most essential and frequently replaced parts in the automotive aftermarket. With the increasing number of vehicles on the road and the growing demand for high-performance tyres, this segment is seeing significant growth.
Battery: As vehicles age, the need for battery replacements increases. The demand for high-quality, durable, and high-performance batteries is driving the growth of this segment.
Brake Parts: Brake systems are crucial for vehicle safety, and as vehicles age, the need for brake repairs and replacements increases. The growth of this segment is driven by safety concerns and the increasing complexity of braking systems in modern vehicles.
Filters: Air, fuel, oil, and cabin filters are essential components in vehicle maintenance. As the need for regular maintenance increases, so does the demand for filter replacements in the aftermarket.
Body Parts: Body parts, including bumpers, mirrors, and door panels, are often replaced due to accidents, wear and tear, or cosmetic preferences. This segment is seeing growth driven by the increasing frequency of vehicle repairs.
Lighting and Electronic Components: As vehicles become more technologically advanced, the demand for lighting systems (headlights, taillights) and electronic components (sensors, infotainment systems) is growing. This trend is driven by the increasing integration of advanced technologies in vehicles.
Wheels: Replacement wheels and rims are commonly needed due to wear or aesthetic upgrades. The growing popularity of alloy wheels and customizations is contributing to the growth of this segment.
Exhaust Components: Exhaust systems and components are often replaced due to wear and regulatory requirements for emissions control. The demand for eco-friendly exhaust solutions is driving growth in this segment.
Turbochargers: Turbochargers are becoming increasingly popular due to their ability to improve engine performance and fuel efficiency. As more vehicles are equipped with turbocharged engines, the demand for replacement turbochargers is growing.
Others: This category includes a variety of other replacement parts, such as suspension components, wipers, and belts.

Breakup by Vehicle Type:

Passenger Vehicles:

Mini: The mini vehicle segment is growing, with rising urbanization and demand for compact cars. As these vehicles age, the demand for replacement parts, particularly tyres and batteries, is increasing.
Hatchbacks: Hatchbacks are among the most popular vehicle types globally, and as their numbers grow, so does the demand for aftermarket parts and services.
Sedans: Sedans continue to be a preferred choice in many markets. With an aging fleet of sedans, the demand for replacement parts such as batteries, tyres, and brake systems is strong.
SUVs: The increasing popularity of SUVs, driven by their larger size and off-road capability, has led to a growing need for replacement parts and specialized aftermarket services.
Sports Cars: Sports cars, which typically require high-performance components, are also a significant segment in the aftermarket industry. As these vehicles age, the demand for performance parts like tyres, brake systems, and lighting is rising.

Commercial Vehicles:

Light Commercial Vehicles (LCVs): Light commercial vehicles, such as vans and pickup trucks, require aftermarket solutions for maintenance, body repairs, and part replacements. This segment is expanding due to the increase in small business ownership and e-commerce demand.
Heavy Commercial Vehicles (HCVs): HCVs, including trucks and buses, are integral to the transportation of goods. As these vehicles require frequent maintenance and replacement parts, the demand for aftermarket services is significant in this segment.

Breakup by Propulsion:

IC-Engine: Internal combustion engine (ICE) vehicles continue to dominate the market, and the aftermarket for ICE vehicles remains the largest segment. This includes replacement parts and services for traditional petrol and diesel-powered vehicles.
Electric: The rise of electric vehicles (EVs) is driving the demand for EV-specific aftermarket parts such as batteries, chargers, and electric motors. This segment is expected to experience rapid growth as the adoption of EVs continues to increase.
Others: This category includes hybrid vehicles and alternative propulsion systems, which are seeing increasing demand for aftermarket parts and services.

Breakup by Distribution Channel:

Authorised Channel: Authorized channels, including Original Equipment Manufacturers (OEMs), provide genuine parts and accessories. These parts are often preferred for their quality and compatibility with the vehicle.
OEM: OEM distribution channels, where parts are supplied directly from manufacturers to dealers and service centers, ensure that high-quality, genuine parts are used in repairs and replacements.

Breakup by Service Channel:

Do It Yourself (DIY): The DIY segment refers to individuals who prefer to perform vehicle maintenance and repairs themselves. This segment is growing, particularly among automotive enthusiasts and consumers seeking cost-effective solutions.
Do It For Me (DIFM): The DIFM segment refers to consumers who prefer professional help for vehicle maintenance and repairs. This segment is driven by the increasing complexity of modern vehicles, requiring professional expertise for repairs and parts replacement.

Breakup by Certification:

Genuine Parts: Genuine parts are made by the vehicle manufacturer and are typically considered the highest quality. They are often preferred by consumers looking for reliable, long-lasting replacements.
Certified Parts: Certified parts are aftermarket parts that meet specific standards for quality and performance. These parts offer a balance between cost and quality, appealing to price-conscious consumers.
Uncertified Parts: Uncertified parts are often the least expensive option, though they may not always meet the same quality standards as certified or genuine parts. This category appeals to budget-conscious consumers.

Breakup by Region:

North America: North America, particularly the United States and Canada, is a significant market for automotive aftermarket products due to the large vehicle fleet and high demand for maintenance and repair services.
Europe: Europe, with key markets in the United Kingdom, Germany, and France, has a well-established automotive aftermarket industry. The demand for eco-friendly and technologically advanced aftermarket parts is driving market growth in the region.
Asia Pacific: The Asia Pacific region, including countries such as China, Japan, and India, is expected to experience the highest growth in the automotive aftermarket. Rising vehicle ownership and a growing middle class are key drivers in this region.
Latin America: Latin America is witnessing steady growth in the automotive aftermarket, particularly in countries like Brazil and Mexico. The growing vehicle fleet and increasing demand for replacement parts are contributing to the market expansion.

Middle East and Africa: The Middle East and Africa are emerging markets for automotive aftermarket solutions, driven by increasing vehicle ownership and the rising demand for replacement parts and maintenance services.

Market Key Players

Several key players are shaping the global automotive aftermarket market by offering innovative solutions and expanding their operations:

Continental AG: Continental is a leading supplier of tyres, brake systems, and other automotive parts, playing a key role in the global automotive aftermarket industry.
The Goodyear Tire & Rubber Company: Goodyear is one of the largest tyre manufacturers in the world, providing replacement tyres for both passenger and commercial vehicles.
Delphi Technologies (BorgWarner Inc.): Delphi Technologies offers a wide range of automotive aftermarket parts, including fuel systems, electrical components, and powertrain solutions.
DENSO Corporation: Denso is a major supplier of automotive parts and systems, providing components such as air conditioning systems, spark plugs, and filters to the global automotive aftermarket.
Others: