Middle East and Africa Automotive Aftermarket
The automotive aftermarket in the Middle East and Africa is growing, supported by an increasing vehicle
population and consumer focus on vehicle maintenance. In the Middle East,
demand is high for durable parts suited to hot climates, while Africa’s need
for affordable options drives demand for second-hand and aftermarket parts.
E-commerce is slowly gaining ground, making parts more accessible across the
region. However, variations in vehicle types and brand availability shape
aftermarket dynamics, with growing interest in electric vehicle components as
regional infrastructure develops.
The Automotive
AfterMarket is the secondary market available after-sales the
components and original parts or components. The accessories are sold after the
originally sold sale of the vehicle for convenience, comfort, performance and
safety. The OEM manufactures the replacement parts to replace the original
parts after being damaged. This records and witnesses rising sales of
automobiles and how the demand for OME technologies has improved. In COVID 19,
almost all industries get affected; likewise, the pandemic has impacted the
automotive segment. Due to the pandemic, the output and production plants
reduced of the automotive industry. Pandemic affected business, but the market
will soon grip its usual growth rate and register a high growth rate. The
aftermarket is classified into accessories and replacement parts.
Key Players:
·
Continental
AG (Germany)
·
Aisin
Seiki Co. Ltd. (Japan)
·
Robert
Bosch GmbH (Germany)
·
3M
(U.S.)
·
Valeo
(France)
·
Denso
Corporation (Japan)
·
Magneti
Marelli S.p.A. (Italy)
·
Cooper
Tire & Rubber Company (U.S.)
·
Sumitomo
Electric Industries Ltd. (Japan)
·
Federal-Mogul
Corporation (U.S.)
·
Aptiv
PLC (U.K.)
Industry news
In Q4 2021, O’Reilly’s sales increased by 16% to $3.29
billion, and net profit increased by 32% to $519 million, which was better than
the previous year.
Rapid growth in automobile sales and demand for
automobiles worldwide acts as a driver for the market. The riding technological
advancement and growing and internet and browsing boost the Automotive AfterMarket. Continuous
economic growth and urbanization are also propelling the market. The sudden
shift to public transport from the private and fewer fuel prices creates ample
opportunities for the market to grow further. The government initiatives and
reduction in sales hinder the growth of the market. The government incentives
for new vehicle purchase results in the decline of the market. The increasing
long-distance travelling and change in the lifestyle are forming demand for the
replacement and repairs of vehicle parts. Awareness among people replacement
and repair of the parts creates many growth opportunities for the market. The
high production cost for the raw materials is restraining the market.
Market segmentation
The Automotive
AfterMarket is fragmented on type, vehicle age and vehicle type. Based on
the type, the market is classified into offering and channel. The offering
segment is again divided into services and parts, and the channel is fragmented
into authorized repair and independent repair. The Automotive AfterMarket
is classified into 0-4 years, 4-8 years, and above 8 years based on the vehicle
age. The vehicle type is bifurcated into commercial vehicles and passenger
vehicles. The passenger segment is expected to grow significantly. Consumer
awareness regarding alternative fuel mobility and the impact of conventional
vehicles on global warming leads to the rising popularity of electric eco-
vehicles, which led to the passenger segment holding more growth.
Regional analysis
The Automotive
AfterMarket is studied in Europe, North America, Asia Pacific and parts of
the world. North America will register the largest market share due to the
prominent presence of market players and components in auto solution providers
pushing the market towards growth. Europe is leading the market, and it is the
second-largest country to dominate the market due to the presence of
established companies, improved spending on luxury cars and increasing demand
for fuel-efficient and lightweight vehicles in the region. Asia pacific is also
increasing steadily and remains in the third position in the growth due to the
advanced technology and developing urbanization.
The
automotive aftermarket in the United States is a vital and growing segment of
the automotive industry, encompassing the manufacturing, distribution,
retailing, and installation of all vehicle parts, equipment, and accessories
after the sale of the automobile. Driven by the rising average age of vehicles
on the road and consumers' growing preference for keeping their cars longer,
demand for replacement parts, repairs, and maintenance services remains strong.
The sector includes everything from basic replacement parts like brakes, tires,
and batteries to advanced automotive technology systems and accessories that
enhance vehicle performance and aesthetics.
The
U.S. automotive aftermarket is also seeing a surge in e-commerce, with
consumers increasingly turning to online platforms to purchase parts and
accessories. This shift is reshaping traditional brick-and-mortar stores as
they adapt to provide both in-person and online sales. Additionally, the
growing number of electric vehicles (EVs) on U.S. roads is creating new
opportunities for specialized aftermarket services, such as EV-specific repairs
and charging infrastructure installation. With technological advancements and
evolving consumer preferences, the U.S. automotive aftermarket is poised for
sustained growth in the coming years.
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