The automotive aftermarket includes activities such as car production, remanufacturing, distribution, redistribution, end-retail, resale, and installation. The aftermarket includes components for replacement, collision, appearance, and performance. Digitalization of automobile repair and component sales has emerged as a result of the adoption of sophisticated technology, increasing the attractiveness of the automotive aftermarket. Digitally driven products and services are creating new trends and driving market growth.
Turkey Automotive Aftermarket Market Driving Factors and Challenges
Turkey has positioned itself as a strong manufacturing and engineering base within the global automotive industry's value chain. With its excellent capabilities, Turkey ranks as the world's 15th largest automobile industry. The country's average export rate remains consistently strong, solidifying its position as a key centre for multinational brands in terms of production, engineering, and export to global markets. The Turkish automotive industry is mostly concentrated in a few significant towns, including Izmit, Bursa, Ankara, Izmir, and Aksaray, which serve as hubs for manufacturing and innovation in the segment. Furthermore, favourable economic conditions have fueled an increase in local requirements in the Turkish automotive industry.
There is a growing demand for replacement parts, as well as a need for increased safety, connection, convenience, and driver assistance features. These elements influence Turkey's advanced automobile industry. However, difficulties like as improving and controlling chip shortages are identified as possible challenges for automakers across the area. OEM manufacturers are strategically planning to expand their manufacturing facilities in Turkey, with support from the Turkish government, which sees the automobile sector as a crucial revenue generator. The government actively encourages foreign direct investments in the automotive industry, hence accelerating its expansion. Turkey is one of the region's largest and fastest growing vehicle markets. The industry's success is attributed to a variety of factors, including the availability of trained labour, effective research and development efforts, geographical advantages, and government help. With a good economic outlook and expanding household purchasing power, the country is expected to see a significant increase in automotive sales.
However, the market confronts a number of challenges, including counterfeit components, regulatory compliance issues, and competition from OEMs entering the aftermarket segment. Supply chain disruptions and the technological sophistication of modern automobiles pose additional challenges, needing continuous adaptation and innovation in the aftermarket industry to meet changing consumer wants and market realities.
Impact of COVID-19 on Turkey Automotive Aftermarket Market
The COVID-19 pandemic had a substantial influence on the Turkish automotive aftermarket business, including supply chain interruptions, lower consumer purchasing, and decreased vehicle usage as a result of lockdown measures. With economic worries, customers prioritised critical purchases, which impacted aftermarket sales. Furthermore, travel limitations and social separation measures hampered car repair and maintenance efforts. However, when restrictions lifted, aftermarket demand gradually recovered, driven by pent-up repair demands and a trend towards personal vehicle ownership for safety reasons, generating confidence for market rebound despite continued obstacles.
Turkey Automotive Aftermarket Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Aisin Corporation, Basbug Auto Spare Parts AS, Continental AG, Denso Corporation, Hyundai Motor Group, Robert Bosch GmbH, ZF Friedrichshafen AG, Others.
Turkey Automotive Aftermarket Market Segmentation:
By Vehicle Type: Based on the Vehicle Type, Turkey Automotive Aftermarket Market is segmented as; Commercial Vehicle, Passenger Vehicle.
By Replacement Parts: Based on the Replacement Parts, Turkey Automotive Aftermarket Market is segmented as; Battery, Body Parts, Brake Parts, Exhaust Components, Filters, Lighting & Electronic Components, Tire, Wheels.
By Distribution Channel: Based on the Distribution Channel, Turkey Automotive Aftermarket Market is segmented as; Retailers, Wholesalers & Distributors.
By Certification: Based on the Certification, Turkey Automotive Aftermarket Market is segmented as; Certified Parts, Genuine Parts, Uncertified Parts.
By Region: This research also includes data for Aksaray, Ankara, Bursa, Izmir, Izmit, Others.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.