Global Automotive Aftermarket Top Trends in 2024 - Growing Presence of Chinese EV Brands Worldwide, O2O Integration for Part Purchase Digital Channel - ResearchAndMarkets.com

The "Global Automotive Aftermarket Outlook, 2024" report has been added to ResearchAndMarkets.com's offering.

The report has assessed the automotive aftermarket's performance for 2023 and identified various trends that influence demand for replacement parts, repairs, and maintenance. It has also examined qualitative and quantitative industry features.

The study period is 2023-2028, with 2023 as the base year and 2024-2028 as the forecast period. The geographic scope is global, with separate discussions for the following regions: North America (Canada and the United States), Europe, China, India, Latin America, the Gulf Cooperation Council countries, and the Rest of the World. The report has covered light vehicles with gross vehicle weight ratings up to 6 metric tons, which comprise:

• Passenger vehicles (e.g., sedans, hatchbacks, sports utility vehicles, multipurpose vehicles, vans)
• Light commercial vehicles (e.g., pickup trucks)

The analysis shows that aftermarket demand metrics have favorably driven global revenues and that the trend will continue in 2024 as well. Aggressive growth forecasts for markets in China and India will be complemented by a positive growth outlook for North America and Europe. Rising vehicle ages, a growing average annual mileage, and an expanding vehicle population are the reasons behind a healthy outlook for the short term. As customers increasingly look to maximize their value from aftermarket purchases, market stakeholders must innovate in their approach and offer targeted solutions to leverage this growth opportunity.

The report has identified trends that will shape the global automotive aftermarket size in 2024, including the growing presence of Chinese electric vehicles, the popularity of private labels, the importance of the online-to-offline integration, and the increasing diversity of vehicle population by body and powertrain types. These trends reveal opportunity areas for industry stakeholders.

Other relevant analytics and conclusions provided in this research include:

• Regional differences in the industry outlook
• Market changes in 2023 that will have an effect in 2024
• Notable OEM activities
• Opportunities available at the local level for aftermarket participants in each region

Key Growth Opportunities:

• O2O Integration for Part Purchase Digital Channel
• Private Label Brands Gain Popularity
• Growing EV Share in the Vehicle Parc

Key Topics Covered:

Transformation in the Automotive Aftermarket

• The Impact of the Top 3 Strategic Imperatives on the Global Automotive Aftermarket

Growth Environment

• Top Predictions for 2024
• Revenue Forecast for Replacement Parts and Accessories
• 2023 in Numbers
• 2023 Trends
• 2024 in Numbers
• 2024 Trends

Ecosystem

• Research Scope
• Vehicle Segmentation
• Market Segmentation by Region
• Questions That This Study Will Answer

2024 Global Economic Outlook

• Top 10 Trends for 2024
• Top 10 Growth Opportunities
• Global GDP Growth
• Inflation and Interest Rates
• Currency Trajectory
• Labor Market
• Oil Markets
• Critical Minerals Supplies

Growth Generator: Global Automotive Aftermarket Outlook, 2024

• Global Light VIO
• Global Aftermarket Revenue Potential
• Growth Opportunity by Country
• Average Vehicle Age
• Average Vehicle Miles Traveled
• Automotive Aftermarket Revenue Forecast
• Automotive Aftermarket Channel Share
• Trend Relevance by Region

Global Automotive Aftermarket Top Trends in 2024

• Trend 1: Growing Presence of Chinese EV Brands Worldwide
• Trend 2: Private Labelling Challenges the Status Quo
• Trend 3: OEMs Deploy Solutions to Increase Customer Stickiness
• Trend 4: O2O Integration as a Catalyst for a Broader Digital Channel Adoption
• Trend 5: Part Proliferation Will Challenge the IAM Retail Channel
• OEM Activity in 2023
• eCommerce Activity in 2023
• Supplier/Distributor Activity in 2023
• Policy and Regulation Changes in 2023 and 2024

Growth Generator: North America Automotive Aftermarket Outlook, 2024

• Regional Outlook: United States
• Regional Outlook: Canada
• North American Aftermarket Dashboard
• Aftermarket Outlook: Revenue by Replacement Part Type
• VIO Ownership Pattern
• VIO Model Mix
• Automotive Aftermarket Opportunity Areas

Growth Generator: Europe Automotive Aftermarket Outlook, 2024

• Regional Outlook: Europe
• European Aftermarket Dashboard
• Aftermarket Outlook: Revenue by Replacement Part Type
• VIO Ownership Pattern
• VIO Model Mix
• Automotive Aftermarket Opportunity Areas

Growth Generator: China Automotive Aftermarket Outlook, 2024

• Regional Outlook: China
• China Aftermarket Dashboard
• Aftermarket Outlook: Revenue by Replacement Part Type
• VIO Ownership Pattern
• VIO Model Mix
• Automotive Aftermarket Opportunity Areas

Growth Generator: India Automotive Aftermarket Outlook, 2024

• Regional Outlook: India
• Indian Aftermarket Dashboard
• Aftermarket Outlook: Revenue by Replacement Part Type
• VIO Ownership Pattern
• VIO Model Mix
• Automotive Aftermarket Opportunity Areas

Growth Generator: LATAM Automotive Aftermarket Outlook, 2024

• Regional Outlook: LATAM
• LATAM Aftermarket Dashboard
• Aftermarket Outlook: Revenue by Replacement Part Type
• VIO Ownership Pattern
• VIO Model Mix
• Automotive Aftermarket Opportunity Areas

Growth Generator: GCC Automotive Aftermarket Outlook, 2024

• Regional Outlook: GCC
• GCC Aftermarket Dashboard
• Aftermarket Outlook: Revenue by Replacement Part Type
• VIO Ownership Pattern
• VIO Model Mix
• Automotive Aftermarket Opportunity Areas

Key Conclusions and Future Outlook

For more information about this report visit https://www.researchandmarkets.com/r/ijr00

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View source version on businesswire.com: https://www.businesswire.com/news/home/20240723625348/en/