Ocean View, DE -- (SBWire) -- 06/16/2020 --Automotive aftermarket growth is stimulated by increasing demand for repair & maintenance services due to the increasing average age of on-road passenger vehicles. Poor quality of road infrastructure, particularly in developing regions, is leading to increased wear & tear of vehicles. These vehicles require regular repair and maintenance services for proper operation. With growing awareness pertaining to regular vehicle repair and maintenance, Global Market Insights, Inc. suggests that automotive aftermarket could surpass USD 1,430 billion by 2026.
Increasing average age of automobiles has led to an upsurge in demand for repair & maintenance services. The deteriorating standard of road infrastructure in emerging economies is expected to drive the automotive aftermarket over the study timeframe. It escalates the wear and tear in vehicle components leading to frequent maintenance requirements.
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Ongoing digitization of service channels and interfaces are providing strong growth opportunities for the industry expansion. Advanced analytics and big data enable the industry players to process and store vehicle usage data for optimizing the value chain. Vehicle data, degree of wear and tear and mileage observations are generating the precise predictive maintenance schedules. For instance, in February 2019, Autodata launched service and maintenance data of existing and new models. The data includes technical information includes wheel alignment data, TPMS information and periodic repair time intervals.
Remote diagnostics is among the emerging trends in automotive services industry. It enables real-time monitoring of automotive parameters to evaluate its performance in line with benchmarks. Additionally, small-scale shops are signing agreements with fleet operators to procure more contracts for maintenance and is anticipated to support the automotive aftermarket expansion.
The stringent vehicle safety regulations mandated by several governments across the globe are pressurizing vehicle manufacturers to incorporate the new safety technologies including ADAS in vehicles. Adoption of ADAS in vehicles is resulting in decreasing vehicle collision incidents. The decrease in human control and rising autonomous vehicle trends will limit the automotive aftermarket industry growth over the study timeframe.
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Some major findings of the automotive aftermarket report include:
- Growing adoption of advanced driver assist system in vehicles
- Rising inclination of consumers towards e-commerce
- Technological advancements to develop vehicle diagnostics tool
- Strategic mergers and acquisition by industry participants to expand regional presence. Major industry players include 3M, BASF, Continental AG, ZF Friedrichshafen AG and Federal-Mogul Holdings among others.
Table of Contents (ToC) of the report:
Chapter 3 Automotive Aftermarket Industry Insights
3.1 Industry segmentation
3.2 Industry size & forecast, 2016- 2026, (USD Billion)
3.3 Industry ecosystem analysis
3.3.1 Part manufacturers
3.3.2 Profit margin analysis
3.3.3 Distribution channel analysis
3.3.3.1 Authorized dealers
3.3.3.1 Trade corporations
3.3.3.2 Online platforms
3.3.4 Workshops
3.3.5 End users
3.3.6 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Paintless dent removal (PDR)
3.4.2 Electronic Diagnosis
3.4.3 Augmented reality
3.5 Regulatory landscape
3.5.1 North America
3.5.1.1 NHTSA
3.5.1.1.1 49 U.S.C. 30118
3.5.1.1.2 FMVSS (49 U.S.C. 30122)
3.5.1.2 CAPA Certification
3.5.1.3 EPA Certification
3.5.1.4 Vehicle parts standards
3.5.2 Europe
3.5.2.1 (EC) NO 1400/2002
3.5.2.2 Whole Vehicle Type Approval
3.5.2.3 ISO 9001 & ISO/TS 16949
3.5.2.4 Germany
3.5.3 Asia Pacific
3.5.3.1 Australia
3.5.3.1.1 Motor Vehicle Standards Regulations 1989
3.5.3.2 China
3.5.3.2.1 New regulatory framework on auto distribution and aftermarket
3.5.3.3 India
3.5.3.4 Japan
3.5.3.4.1 Japan Automotive Products Association (JAPA)
3.5.4 Latin America
3.5.5 MEA
3.5.5.1 Emirates Authority of Standardization and Metrology (ESMA)
3.5.5.1.1 Requirements for spare parts and their suppliers
3.6 Global automotive industry overview,2018
3.6.1 Major automotive trends
3.6.2 Advantages of manufacturing
3.6.2.1 OEM versus aftermarket
3.6.2.2 Opportunities
3.6.2.2.1 Rising e-commerce spending
3.6.2.2.2 Increasing vehicle age
3.6.2.2.3 Smaller vehicles
3.6.2.3 Service market overview
3.6.3 Vehicle parc (on road) statistics
3.6.4 Insurance landscape, by region
3.6.4.1 North America
3.6.4.2 Europe
3.6.4.3 Asia Pacific
3.6.4.4 Latin America
3.6.4.5 MEA
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Growing demand for vehicle upgradation along with digitization of distribution channels
3.6.1.2 Increasing vehicle sales of new and preowned vehicles
3.6.1.3 Ageing vehicle fleet along with poor road infrastructure
3.6.2 Industry pitfalls & challenges
3.6.2.1 Adoption of vehicle safety technologies and rising electric vehicle sales
3.7 Growth potential analysis, 2018
3.8 Porter's analysis
3.9 Competitive landscape, 2018
3.9.1 Top players overview, 2018
3.9.2 Strategy dashboard
3.10 PESTLE analysis
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-aftermarket
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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