Market Revenue Automotive After Industry Competitive Situation

Automotive After Industry Competitive Situation and Trends,
Capacity By 2025
“Automotive After Market valuation is expected to cross USD 486.36 billion by
2025. Automotive after-market is driven by factors such as rise in buyers’
awareness regarding routine maintenance, convenience, and safety along
with add-on services such as internal and external accessories and exhaust
components.”
The global Automotive After-Market valuation is expected to cross USD 486.36 billion by 2025. Automotive
after-market is driven by factors such as rise in buyers’ awareness regarding routine maintenance, convenience,
and safety along with add-on services such as internal and external accessories and exhaust components. In
addition, change in lifestyle and the need for commuting long distance travels leads in average distance driven
per vehicle. The market witnesses numerous opportunities in form of availability of variants for spare parts and
accessories. Automotive after-market, however, encounters negative setback in form of stringent policies by
government, dearth of labor, and loopholes in record retrieving systems for older vehicles.
Automotive industry is enormous in Western Europe, Eastern Europe, Russia, China, and India. The market is
witnessing significant changes along with growing importance not only for brand new cars but also in the after-
market domain. Customers’ expectation, technological growth, automotive suppliers, and shifts in competitive
power help in revamping and development of automotive aftermarket. Emerging markets seem to create new
needs for after-market industry and simultaneously, the market players may encounter challenges such as rising
pace of consolidation, particularly in European counterparts and U.S. On the other hand, automotive suppliers
operate in a highly stable environment to face a new type of competitive pressure from other players at
alternate stages of after market value chain. Market trends such as major shifts in after-market industry coupled
with technological upgrade at periodic intervals prove to be game-changing factors for major players to maintain
a strong market position.
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