Europe Automotive Aftermarket Market Growth, Size, Trends, Revenue, Share and Future Outlook
Europe Automotive Aftermarket Market Size- By Type, By Application, By Distribution, By Vehicle Type, By Vehicle Type, By Position- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Dec-2023 | Report ID: AMIN23184 | Pages: 1 - 107 | Formats*: |
| Category : Automotive & Transportation | |||
Europe Automotive Aftermarket Market Introduction and Overview
According to SPER Market Research, the Europe Automotive Aftermarket Market is estimated to reach USD 435.54 billion by 2033 with a CAGR of 3.36%.
The report includes an in-depth analysis of the Europe Automotive Aftermarket Market, including market size and trends, product mix, distribution channels, and supplier analysis. The automotive aftermarket industry is dedicated to reprocessing, retailing, distributing, and installing car components and equipment after a vehicle has been sold. The aftermarket includes replacement, performance, appearance, and collision parts. The adoption of advanced technologies has led to the digitalization of automotive repair and component sales, which has boosted the aftermarket's popularity. The European automotive aftermarket is expected to grow at a constant rate due to rising car demand and production across the continent. Consumers are critical to the car aftermarket, which is heavily reliant on them. Because of significant technological advancements in automotive, the automotive aftermarket industry is constantly evolving to meet shifting consumer expectations.
- The British autonomous vehicle software company Oxbotica will receive funding from German automotive supplier ZF Friedrichshafen AG in order to develop driving systems for people-and product-transporting pod-like shuttles.
Market Opportunities and Challenges
Opportunities: The Europe automotive aftermarket is expected to grow at a faster rate during the forecast period due to factors like the expansion of post-sale services for automobiles, strict government regulations requiring the replacement or upgrading of vehicle components, and the growing trend of vehicle customization combined with an increase in disposable income. Nonetheless, during the projected period, rising shared mobility demands and unstable raw material prices are anticipated to impede the expansion of the global automotive aftermarket sector. Furthermore, the automotive aftermarket is anticipated to benefit in the near future from the expansion of automotive e-commerce and the rise in demand for technologically sophisticated features.
Challenges: Vehicles with more integrated sensors will drive more safely and have fewer wear and tear on their brakes and other parts as technology advances. This hinders the growth of the automotive aftermarket by making component replacement challenging. Icars are outfitted with eco-friendly parts to reduce carbon emissions and control global warming. It is not always up to consumers to decide whether or not to replace parts that regularly harm the environment and release more carbon emissions. Consequently, these factors limit the automobile aftermarket.
Market Competitive Landscape
The Europe Automotive Aftermarket market is extremely consolidated. Magna International Inc., Continental AG, Magneti Marelli S.p.A., ZF Friedrichschafen AG, Robert Bosch GmbH, Valeo SA, Faurecia and MAHLE are some key market participants in Europe.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Application, By Distribution, By Vehicle Type, By Position |
| Regions covered | Eastern Region, Western Region, Southern Region, Northern Region |
| Companies Covered | Magna International Inc., Continental AG, Magneti Marelli S.p.A., ZF Friedrichschafen AG, Robert Bosch GmbH, Valeo SA, Faurecia and MAHLE |
COVID-19 Impact on Europe Automotive Aftermarket Market
The COVID-19 pandemic is expected to persist for several years, with uncertain effects on the automotive aftermarket. Governments everywhere were forced by the COVID-19 pandemic to impose strict lockdowns and prohibit the import or export of necessary raw materials for the majority of 2020 and a few months of 2021. Numerous individuals are delaying inspections or performing optional repairs, and a number of government transportation agencies are relaxing the requirements for technical controls and inspection dates. Additionally, less wealthy customers are delaying maintenance that is preventable. Although garages, service stations, and repair shops are typically permitted to stay open and can still readily obtain parts from distributors, these modifications are significantly reducing the number of people who visit them.
Key Target Audience:
- Vehicle Owners/Consumers
- Automotive Repair Shops and Technicians
- Automotive Retailers and Distributors
- Automotive Manufacturers and Original Equipment Manufacturers (OEMs)
- Fleet Managers
- Insurance Companies
Our in-depth analysis of the Europe Automotive Aftermarket Market includes the following segments:
| By Application |
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| By Distribution Channel |
|
| By Vehicle Type |
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| By Position |
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Key Topics Covered in the Report:
- Europe Automotive Aftermarket Market Size (FY’2023-FY’2033)
- Overview of Europe Automotive Aftermarket Market
- Segmentation of Europe Automotive Aftermarket Market By Application (Infotainment and Multimedia, Engine Component, Tires and Wheels, Electrical Products, Seat and Steering Covers, Others)
- Segmentation of Europe Automotive Aftermarket Market By Distribution Channel (Domestic, International)
- Segmentation of Europe Automotive Aftermarket Market By Vehicle Type (Two Wheeler, Passenger Car, Commercial Vehicle)
- Segmentation of Europe Automotive Aftermarket Market By Position (External Accessories, Internal Accessories)
- Statistical Snap of Europe Automotive Aftermarket Market
- Expansion Analysis of Europe Automotive Aftermarket Market
- Problems and Obstacles in Europe Automotive Aftermarket Market
- Competitive Landscape in the Europe Automotive Aftermarket Market
- Impact of COVID-19 and Demonetization on Europe Automotive Aftermarket Market
- Details on Current Investment in Europe Automotive Aftermarket Market
- Competitive Analysis of Europe Automotive Aftermarket Market
- Prominent Players in the Europe Automotive Aftermarket Market
- SWOT Analysis of Europe Automotive Aftermarket Market
- Europe Automotive Aftermarket Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Europe Automotive Aftermarket Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Europe Automotive Aftermarket Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Automotive Aftermarket Market
7. Europe Automotive Aftermarket Market, By Application (USD Million)
7.1. Europe Automotive Aftermarket Market Value Share and Forecast, By Application, 2023-20337.2. Infotainment and Multimedia7.3. Engine Component7.4. Tires and Wheels7.5. Electrical Products7.6. Seat and Steering Covers7.7. Others
8. Europe Automotive Aftermarket Market, By Distribution Channel (USD Million)
8.1. Europe Automotive Aftermarket Market Value Share and Forecast, By Distribution Channel, 2023-20338.2. OEM8.3. Third Party Vendors
9. Europe Automotive Aftermarket Market, By Vehicle Type (USD Million)
9.1. Europe Automotive Aftermarket Market Value Share and Forecast, By Vehicle Type, 2023-20339.2. Two Wheeler9.3. Passenger Car9.4. Commercial Vehicle
10. Europe Automotive Aftermarket Market, By Position (USD Million)
10.1. Europe Automotive Aftermarket Market Value Share and Forecast, By Position, 2023-203310.2. External Accessories10.3. Internal Accessories
11. Europe Automotive Aftermarket Market Forecast, 2019-2033 (USD Million)
11.1. Europe Automotive Aftermarket Market Size and Market Share
12. Europe Automotive Aftermarket Market, By Application, 2019-2033 (USD Million)
12.1. Europe Automotive Aftermarket Market Size and Market Share By Application (2019-2026)12.2. Europe Automotive Aftermarket Market Size and Market Share By Application (2027-2033)
13. Europe Automotive Aftermarket Market, By Distribution Channel, 2019-2033 (USD Million)
13.1. Europe Automotive Aftermarket Market Size and Market Share By Distribution Channel (2019-2026)13.2. Europe Automotive Aftermarket Market Size and Market Share By Distribution Channel (2027-2033)
14. Europe Automotive Aftermarket Market, By Vehicle Type, 2019-2033 (USD Million)
14.1. Europe Automotive Aftermarket Market Size and Market Share By Vehicle Type (2019-2026)14.2. Europe Automotive Aftermarket Market Size and Market Share By Vehicle Type (2027-2033)
15. Europe Automotive Aftermarket Market, By Position, 2019-2033 (USD Million)
15.1. Europe Automotive Aftermarket Market Size and Market Share By Position (2019-2026)15.2. Europe Automotive Aftermarket Market Size and Market Share By Position (2027-2033)
16. Europe Automotive Aftermarket Market, By Region, 2019-2033 (USD Million)
16.1. Europe Automotive Aftermarket Market Size and Market Share By Region (2019-2026)16.2. Europe Automotive Aftermarket Market Size and Market Share By Region (2027-2033)16.3. Eastern Region16.4. Western Region16.5. Southern Region16.6. Northern Region
17. Company Profile
17.1. Continental AG,
17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments
17.2. Faurecia
17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent developments
17.3. Magna International Inc.,
17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments
17.4. MAHLE
17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments
17.5. Magneti Marelli S.p.A.,
17.5.1. Company details17.5.2. Financial outlook17.5.3. Product summary17.5.4. Recent developments
17.6. Robert Bosch GmbH, Valeo SA,
17.6.1. Company details17.6.2. Financial outlook17.6.3. Product summary17.6.4. Recent developments
17.7. ZF Friedrichschafen AG,
17.7.1. Company details17.7.2. Financial outlook17.7.3. Product summary17.7.4. Recent developments
17.8. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Europe Automotive Aftermarket Market is projected to reach USD 435.54 billion by 2033, growing at a CAGR of 3.36 %during the forecast period.
Europe Automotive Aftermarket Market from 2022. The Market is expected to reach USD 435.54 billion by 2033, at a CAGR of 3.36%during the forecast period.
Europe Automotive Aftermarket Market CAGR of 3.36% during the forecast period.
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Europe Automotive Aftermarket Market size is USD 435.54 billion from 2023 to 2033.
Europe Automotive Aftermarket Market is Segment is covered By Application, By Distribution, By Vehicle Type, By Position.
The Europe is anticipated to have the highest market share in the Europe Automotive Aftermarket Market.
"The key players in the market include Companies Covered Eastern Region, Western Region, Southern Region, Northern Region
Companies Covered Magna International Inc., Continental AG, Magneti Marelli S.p.A., ZF Friedrichschafen AG, Robert Bosch GmbH, Valeo SA, Faurecia and MAHLE"
The report includes an in-depth analysis of the Europe Automotive Aftermarket Market, including market size and trends, product mix, distribution channels, and supplier analysis.
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