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Apr 05, 2023 (The Expresswire) --Pre and Post-Covid Report Is Covered | Final Report Will Add the Analysis of the Impact of Russia-Ukraine War and COVID-19 on This Industry.
Global "Aftermarket Auto Parts Market" Research Report 2023 is spread across 108 pages and provides Size, Share, Growth, and Forecast with exclusive vital statistics, data, information, trends, and competitive landscape details in this niche sector.Aftermarket Auto Parts Market research report offers New Insight updates on Business Strategies including Mergers, Acquisitions, Partnerships, R and D, Expansion Plans and Collaborations adopted by these Major Global Players, Revenue by Type (Steering, Chassis Parts, Suspension), Forecasted Market Size by Application (Passenger Car, Commercial Vehicle) Ask for a Sample Report
The global Aftermarket Auto Parts size is segmented on the basis of application, end user, and region, with a focus on manufacturers in different regions. The study has detailed the analysis of different factors that increase the industry's growth. This study also provides the scope of different segments and applications that can potentially influence the industry in the future. Pricing analysis is covered in this report according to each type, manufacturer, regional analysis, and price. The Aftermarket Auto Parts Share report provides an overview of market value structure, cost drivers, and various driving factors and analyzes the industry atmosphere, then studies the global outline of industry size, demand, application, revenue, product, region, and segments. In addition, this report introduces the market competition situation among the distributors and manufacturers profile, market value analysis, and cost chain structure are covered in this report.
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TOP Manufactures in Aftermarket Auto Parts Market are: -
● Valeo
● Aisin Seiki Co., Ltd.
● Magna International Inc.
● Faurecia S.A.
● Magneti Marelli S.p.A.
● Robert Bosch GmbH
● Denso Corporation
● Brembo S.p.A.
● Aptiv PLC
● Continental AG
● Hella KGaA Hueck and Co.
● ZF Friedrichshafen AG
● Akebono Brake Industry Co., Ltd.
Get a Sample Copy of the Aftermarket Auto Parts Market Report 2023
Brief Description of Aftermarket Auto Parts Market:
The global Aftermarket Auto Parts market size was valued at USD 769721.3 million in 2021 and is expected to expand at a CAGR of 5.42 Percent during the forecast period, reaching USD 1056247.78 million by 2027.
Auto parts are installed in a car to supply the best driving experience.
The report combines extensive quantitative analysis and exhaustive qualitative analysis, ranges from a macro overview of the total market size, industry chain, and market dynamics to micro details of segment markets by type, application and region, and, as a result, provides a holistic view of, as well as a deep insight into the Aftermarket Auto Parts market covering all its essential aspects.
For the competitive landscape, the report also introduces players in the industry from the perspective of the market share, concentration ratio, etc., and describes the leading companies in detail, with which the readers can get a better idea of their competitors and acquire an in-depth understanding of the competitive situation. Further, mergers and acquisitions, emerging market trends, the impact of COVID-19, and regional conflicts will all be considered.
In a nutshell, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the market in any manner.
Aftermarket Auto Parts Market Forecast by regions, type and application, with sales and revenue, from 2021 to 2029. Aftermarket Auto Parts Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.Aftermarket Auto Parts Market Size report provides important information regarding the total valuation that this industry holds presently and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.This Report Focuses on the Aftermarket Auto Parts Market manufacturers, to study the sales, value, market share and development plans in the future. It is Define, describe and forecast the Aftermarket Auto Parts Market Growth by type, application, and region to Study the global and key regions market potential and advantage, opportunity and challenge, restraints and risks. Know significant trends and factors driving or inhibiting the Aftermarket Auto Parts Market growth opportunities in the market for stakeholders by identifying the high growth segments. Strategically it examines each submarket with respect to individual growth trend and their contribution to the Aftermarket Auto Parts Market.
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What are the major type and applications, of Aftermarket Auto Parts?
Market segment by Type, the product can be split into
● Steering
● Chassis Parts
● Suspension
Market segment by Application, split into
● Passenger Car
● Commercial Vehicle
The Global Aftermarket Auto Parts Market Trends,development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.The global Aftermarket Auto Parts Market Growth is anticipated to rise at a considerable rate during the forecast period, between 2021 and 2029. In 2021, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
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Aftermarket Auto Parts Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered. Aftermarket Auto Parts Market Report also mentions market share accrued by each product in the Aftermarket Auto Parts market, along with the production growth.
Regions are covered in Chapter 5, 6, 7, 8, 9, 10, 13:
North America (Covered in Chapter 6 and 13)
Europe (Covered in Chapter 7 and 13)
Asia-Pacific (Covered in Chapter 8 and 13)
Middle East and Africa (Covered in Chapter 9 and 13)
South America (Covered in Chapter 10 and 13)
Key Objectives of This Report are: -
● The market analysis report provides a comprehensive overview of the industry, including both qualitative and quantitative analysis based on the segmentation of economic and non-economic factors.
● The report also includes market value data in USD billion for each segment and sub-segment, as well as information on the fastest-growing and dominant segments and regions.
● Furthermore, the report analyzes the market consumption and factors affecting the market in various regions.
● It also features a competitive landscape, ranking major players, and detailing new service/product launches, partnerships, business expansions, and acquisitions in the past five years.
● The report extensively profiles significant market players, providing company overviews, insights, product benchmarking, and SWOT analysis.
● It also offers an outlook on the industry's current and future market, with growth opportunities, drivers, challenges, and restraints for emerging and developed regions.
● Moreover, the report includes an in-depth analysis of the market from various perspectives, including Porter’s five forces analysis and Value Chain analysis.
● It presents a market dynamics scenario and growth opportunities for the coming years, with 6-month post-sales analyst support.
● Finally, the report can be customized per specific queries or requirements, with the sales team available to address any concerns.
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Frequently Asked Questions to This Report?
1. What is the projected market size and growth rate of the Aftermarket Auto Parts?
Aftermarket Auto Parts was valued at USD Billion in 2021 and is projected to reach USD Billion by 2030, growing at a CAGR from 2023 to 2030.
2. What are the key driving factors for the growth of the Aftermarket Auto Parts?
Aftermarket Auto Parts markets include technological advancements, changing consumer behavior, increasing demand from emerging economies, government initiatives, favorable regulatory policies, and increasing investment in research and development.
3. What are the top players operating in the Aftermarket Auto Parts?
The major players in the market are Valeo, Aisin Seiki Co., Ltd., Magna International Inc., Faurecia S.A., Magneti Marelli S.p.A., Robert Bosch GmbH, Denso Corporation, Brembo S.p.A., Aptiv PLC, Continental AG, Hella KGaA Hueck and Co., ZF Friedrichshafen AG, Akebono Brake Industry Co., Ltd..
4. What segments are covered in the Aftermarket Auto Parts report?
The Global Aftermarket Auto Parts is Segmented on the basis of Type, And Geography.
5. How can I get a sample report/company profile for the Aftermarket Auto Parts?
The sample report for the Aftermarket Auto Parts can be obtained on demand from the website. Also, 24*7 chat support and direct call services are provided to procure the sample report.
Customization of the Report
● In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Detailed TOC of Global Aftermarket Auto Parts Market Insights and Forecast to 2030
Major Points from Table of Contents
1 Aftermarket Auto Parts Market Overview
1.1 Product Overview and Scope of Aftermarket Auto Parts Market
1.2 Aftermarket Auto Parts Market Segment by Type
1.2.1 Global Aftermarket Auto Parts Market Sales Volume and CAGR ( Percent) Comparison by Type (2017-2027)
1.3 Global Aftermarket Auto Parts Market Segment by Application
1.3.1 Aftermarket Auto Parts Market Consumption (Sales Volume) Comparison by Application (2017-2027)
1.4 Global Aftermarket Auto Parts Market, Region Wise (2017-2027)
1.4.1 Global Aftermarket Auto Parts Market Size (Revenue) and CAGR ( Percent) Comparison by Region (2017-2027)
1.4.2 United States Aftermarket Auto Parts Market Status and Prospect (2017-2027)
1.4.3 Europe Aftermarket Auto Parts Market Status and Prospect (2017-2027)
1.4.4 China Aftermarket Auto Parts Market Status and Prospect (2017-2027)
1.4.5 Japan Aftermarket Auto Parts Market Status and Prospect (2017-2027)
1.4.6 India Aftermarket Auto Parts Market Status and Prospect (2017-2027)
1.4.7 Southeast Asia Aftermarket Auto Parts Market Status and Prospect (2017-2027)
1.4.8 Latin America Aftermarket Auto Parts Market Status and Prospect (2017-2027)
1.4.9 Middle East and Africa Aftermarket Auto Parts Market Status and Prospect (2017-2027)
1.5 Global Market Size of Aftermarket Auto Parts (2017-2027)
1.5.1 Global Aftermarket Auto Parts Market Revenue Status and Outlook (2017-2027)
1.5.2 Global Aftermarket Auto Parts Market Sales Volume Status and Outlook (2017-2027)
1.6 Global Macroeconomic Analysis
1.7 The impact of the Russia-Ukraine war on the Aftermarket Auto Parts Market
2 Industry Outlook
2.1 Aftermarket Auto Parts Industry Technology Status and Trends
2.2 Industry Entry Barriers
2.2.1 Analysis of Financial Barriers
2.2.2 Analysis of Technical Barriers
2.2.3 Analysis of Talent Barriers
2.2.4 Analysis of Brand Barrier
2.3 Aftermarket Auto Parts Market Drivers Analysis
2.4 Aftermarket Auto Parts Market Challenges Analysis
2.5 Emerging Market Trends
2.6 Consumer Preference Analysis
2.7 Aftermarket Auto Parts Industry Development Trends under COVID-19 Outbreak
2.7.1 Global COVID-19 Status Overview
2.7.2 Influence of COVID-19 Outbreak on Aftermarket Auto Parts Industry Development
3 Global Aftermarket Auto Parts Market Landscape by Player
3.1 Global Aftermarket Auto Parts Sales Volume and Share by Player (2017-2022)
3.2 Global Aftermarket Auto Parts Revenue and Market Share by Player (2017-2022)
3.3 Global Aftermarket Auto Parts Average Price by Player (2017-2022)
3.4 Global Aftermarket Auto Parts Gross Margin by Player (2017-2022)
3.5 Aftermarket Auto Parts Market Competitive Situation and Trends
3.5.1 Aftermarket Auto Parts Market Concentration Rate
3.5.2 Aftermarket Auto Parts Market Share of Top 3 and Top 6 Players
3.5.3 Mergers and Acquisitions, Expansion
4 Global Aftermarket Auto Parts Sales Volume and Revenue Region Wise (2017-2022)
4.1 Global Aftermarket Auto Parts Sales Volume and Market Share, Region Wise (2017-2022)
4.2 Global Aftermarket Auto Parts Revenue and Market Share, Region Wise (2017-2022)
4.3 Global Aftermarket Auto Parts Sales Volume, Revenue, Price and Gross Margin (2017-2022)
4.4 United States Aftermarket Auto Parts Sales Volume, Revenue, Price and Gross Margin (2017-2022)
4.4.1 United States Aftermarket Auto Parts Market Under COVID-19
4.5 Europe Aftermarket Auto Parts Sales Volume, Revenue, Price and Gross Margin (2017-2022)
4.5.1 Europe Aftermarket Auto Parts Market Under COVID-19
4.6 China Aftermarket Auto Parts Sales Volume, Revenue, Price and Gross Margin (2017-2022)
4.6.1 China Aftermarket Auto Parts Market Under COVID-19
4.7 Japan Aftermarket Auto Parts Sales Volume, Revenue, Price and Gross Margin (2017-2022)
4.7.1 Japan Aftermarket Auto Parts Market Under COVID-19
4.8 India Aftermarket Auto Parts Sales Volume, Revenue, Price and Gross Margin (2017-2022)
4.8.1 India Aftermarket Auto Parts Market Under COVID-19
4.9 Southeast Asia Aftermarket Auto Parts Sales Volume, Revenue, Price and Gross Margin (2017-2022)
4.9.1 Southeast Asia Aftermarket Auto Parts Market Under COVID-19
4.10 Latin America Aftermarket Auto Parts Sales Volume, Revenue, Price and Gross Margin (2017-2022)
4.10.1 Latin America Aftermarket Auto Parts Market Under COVID-19
4.11 Middle East and Africa Aftermarket Auto Parts Sales Volume, Revenue, Price and Gross Margin (2017-2022)
4.11.1 Middle East and Africa Aftermarket Auto Parts Market Under COVID-19
5 Global Aftermarket Auto Parts Sales Volume, Revenue, Price Trend by Type
5.1 Global Aftermarket Auto Parts Sales Volume and Market Share by Type (2017-2022)
5.2 Global Aftermarket Auto Parts Revenue and Market Share by Type (2017-2022)
5.3 Global Aftermarket Auto Parts Price by Type (2017-2022)
5.4 Global Aftermarket Auto Parts Sales Volume, Revenue and Growth Rate by Type (2017-2022)
5.4.1 Global Aftermarket Auto Parts Sales Volume, Revenue and Growth Rate of Steering (2017-2022)
5.4.2 Global Aftermarket Auto Parts Sales Volume, Revenue and Growth Rate of Chassis Parts (2017-2022)
5.4.3 Global Aftermarket Auto Parts Sales Volume, Revenue and Growth Rate of Suspension (2017-2022)
6 Global Aftermarket Auto Parts Market Analysis by Application
6.1 Global Aftermarket Auto Parts Consumption and Market Share by Application (2017-2022)
6.2 Global Aftermarket Auto Parts Consumption Revenue and Market Share by Application (2017-2022)
6.3 Global Aftermarket Auto Parts Consumption and Growth Rate by Application (2017-2022)
6.3.1 Global Aftermarket Auto Parts Consumption and Growth Rate of Passenger Car (2017-2022)
6.3.2 Global Aftermarket Auto Parts Consumption and Growth Rate of Commercial Vehicle (2017-2022)
7 Global Aftermarket Auto Parts Market Forecast (2022-2027)
7.1 Global Aftermarket Auto Parts Sales Volume, Revenue Forecast (2022-2027)
7.1.1 Global Aftermarket Auto Parts Sales Volume and Growth Rate Forecast (2022-2027)
7.1.2 Global Aftermarket Auto Parts Revenue and Growth Rate Forecast (2022-2027)
7.1.3 Global Aftermarket Auto Parts Price and Trend Forecast (2022-2027)
7.2 Global Aftermarket Auto Parts Sales Volume and Revenue Forecast, Region Wise (2022-2027)
7.2.1 United States Aftermarket Auto Parts Sales Volume and Revenue Forecast (2022-2027)
7.2.2 Europe Aftermarket Auto Parts Sales Volume and Revenue Forecast (2022-2027)
7.2.3 China Aftermarket Auto Parts Sales Volume and Revenue Forecast (2022-2027)
7.2.4 Japan Aftermarket Auto Parts Sales Volume and Revenue Forecast (2022-2027)
7.2.5 India Aftermarket Auto Parts Sales Volume and Revenue Forecast (2022-2027)
7.2.6 Southeast Asia Aftermarket Auto Parts Sales Volume and Revenue Forecast (2022-2027)
7.2.7 Latin America Aftermarket Auto Parts Sales Volume and Revenue Forecast (2022-2027)
7.2.8 Middle East and Africa Aftermarket Auto Parts Sales Volume and Revenue Forecast (2022-2027)
7.3 Global Aftermarket Auto Parts Sales Volume, Revenue and Price Forecast by Type (2022-2027)
7.3.1 Global Aftermarket Auto Parts Revenue and Growth Rate of Steering (2022-2027)
7.3.2 Global Aftermarket Auto Parts Revenue and Growth Rate of Chassis Parts (2022-2027)
7.3.3 Global Aftermarket Auto Parts Revenue and Growth Rate of Suspension (2022-2027)
7.4 Global Aftermarket Auto Parts Consumption Forecast by Application (2022-2027)
7.4.1 Global Aftermarket Auto Parts Consumption Value and Growth Rate of Passenger Car(2022-2027)
7.4.2 Global Aftermarket Auto Parts Consumption Value and Growth Rate of Commercial Vehicle(2022-2027)
7.5 Aftermarket Auto Parts Market Forecast Under COVID-19
8 Aftermarket Auto Parts Market Upstream and Downstream Analysis
8.1 Aftermarket Auto Parts Industrial Chain Analysis
8.2 Key Raw Materials Suppliers and Price Analysis
8.3 Manufacturing Cost Structure Analysis
8.3.1 Labor Cost Analysis
8.3.2 Energy Costs Analysis
8.3.3 RandD Costs Analysis
8.4 Alternative Product Analysis
8.5 Major Distributors of Aftermarket Auto Parts Analysis
8.6 Major Downstream Buyers of Aftermarket Auto Parts Analysis
8.7 Impact of COVID-19 and the Russia-Ukraine war on the Upstream and Downstream in the Aftermarket Auto Parts Industry
9 Players Profiles
9.1 Valeo
9.1.1 Valeo Basic Information, Manufacturing Base, Sales Region and Competitors
9.1.2 Aftermarket Auto Parts Product Profiles, Application and Specification
9.1.3 Valeo Market Performance (2017-2022)
9.1.4 Recent Development
9.1.5 SWOT Analysis
9.2 Aisin Seiki Co., Ltd.
9.2.1 Aisin Seiki Co., Ltd. Basic Information, Manufacturing Base, Sales Region and Competitors
9.2.2 Aftermarket Auto Parts Product Profiles, Application and Specification
9.2.3 Aisin Seiki Co., Ltd. Market Performance (2017-2022)
9.2.4 Recent Development
9.2.5 SWOT Analysis
9.3 Magna International Inc.
9.3.1 Magna International Inc. Basic Information, Manufacturing Base, Sales Region and Competitors
9.3.2 Aftermarket Auto Parts Product Profiles, Application and Specification
9.3.3 Magna International Inc. Market Performance (2017-2022)
9.3.4 Recent Development
9.3.5 SWOT Analysis
9.4 Faurecia S.A.
9.4.1 Faurecia S.A. Basic Information, Manufacturing Base, Sales Region and Competitors
9.4.2 Aftermarket Auto Parts Product Profiles, Application and Specification
9.4.3 Faurecia S.A. Market Performance (2017-2022)
9.4.4 Recent Development
9.4.5 SWOT Analysis
9.5 Magneti Marelli S.p.A.
9.5.1 Magneti Marelli S.p.A. Basic Information, Manufacturing Base, Sales Region and Competitors
9.5.2 Aftermarket Auto Parts Product Profiles, Application and Specification
9.5.3 Magneti Marelli S.p.A. Market Performance (2017-2022)
9.5.4 Recent Development
9.5.5 SWOT Analysis
9.6 Robert Bosch GmbH
9.6.1 Robert Bosch GmbH Basic Information, Manufacturing Base, Sales Region and Competitors
9.6.2 Aftermarket Auto Parts Product Profiles, Application and Specification
9.6.3 Robert Bosch GmbH Market Performance (2017-2022)
9.6.4 Recent Development
9.6.5 SWOT Analysis
9.7 Denso Corporation
9.7.1 Denso Corporation Basic Information, Manufacturing Base, Sales Region and Competitors
9.7.2 Aftermarket Auto Parts Product Profiles, Application and Specification
9.7.3 Denso Corporation Market Performance (2017-2022)
9.7.4 Recent Development
9.7.5 SWOT Analysis
9.8 Brembo S.p.A.
9.8.1 Brembo S.p.A. Basic Information, Manufacturing Base, Sales Region and Competitors
9.8.2 Aftermarket Auto Parts Product Profiles, Application and Specification
9.8.3 Brembo S.p.A. Market Performance (2017-2022)
9.8.4 Recent Development
9.8.5 SWOT Analysis
9.9 Aptiv PLC
9.9.1 Aptiv PLC Basic Information, Manufacturing Base, Sales Region and Competitors
9.9.2 Aftermarket Auto Parts Product Profiles, Application and Specification
9.9.3 Aptiv PLC Market Performance (2017-2022)
9.9.4 Recent Development
9.9.5 SWOT Analysis
9.10 Continental AG
9.10.1 Continental AG Basic Information, Manufacturing Base, Sales Region and Competitors
9.10.2 Aftermarket Auto Parts Product Profiles, Application and Specification
9.10.3 Continental AG Market Performance (2017-2022)
9.10.4 Recent Development
9.10.5 SWOT Analysis
9.11 Hella KGaA Hueck and Co.
9.11.1 Hella KGaA Hueck and Co. Basic Information, Manufacturing Base, Sales Region and Competitors
9.11.2 Aftermarket Auto Parts Product Profiles, Application and Specification
9.11.3 Hella KGaA Hueck and Co. Market Performance (2017-2022)
9.11.4 Recent Development
9.11.5 SWOT Analysis
9.12 ZF Friedrichshafen AG
9.12.1 ZF Friedrichshafen AG Basic Information, Manufacturing Base, Sales Region and Competitors
9.12.2 Aftermarket Auto Parts Product Profiles, Application and Specification
9.12.3 ZF Friedrichshafen AG Market Performance (2017-2022)
9.12.4 Recent Development
9.12.5 SWOT Analysis
9.13 Akebono Brake Industry Co., Ltd.
9.13.1 Akebono Brake Industry Co., Ltd. Basic Information, Manufacturing Base, Sales Region and Competitors
9.13.2 Aftermarket Auto Parts Product Profiles, Application and Specification
9.13.3 Akebono Brake Industry Co., Ltd. Market Performance (2017-2022)
9.13.4 Recent Development
9.13.5 SWOT Analysis
10 Research Findings and Conclusion
11 Appendix
11.1 Methodology
11.2 Research Data Source
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Continued
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FAQs
What is the forecast for auto parts sales? ›
Due to the COVID-19 pandemic, the global Auto Parts and Accessories market size is estimated to be worth USD 2421030 million in 2023 and is forecast to a readjusted size of USD 3028190 million by 2028 with a CAGR of 3.8% during the forecast period 2023-2028.
How big of an industry is aftermarket automotive? ›The size of the U.S. automotive aftermarket amounted to some 326 billion U.S. dollars in 2021. The market is expected to grow in the coming years, surpassing the size of 400 billion U.S. dollars in 2025.
How big is the auto parts market? ›...
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 448.24 billion |
| Revenue forecast in 2030 | USD 589.01 billion |
| Growth Rate | CAGR of 4.0% from 2023 to 2030 |
J.P. Morgan Research expects the seasonally adjusted annual rate (SAAR) of U.S. light vehicle sales to track 14.0 to 14.5 million in 2023 — a modest improvement from 13.9 million in 2022, but well below the 17.0 million sold pre-pandemic in 2019.
What are the projections for auto sales in 2023? ›Inventory levels at some automakers are moving back up above pre-pandemic normal, suggesting that overall demand has slowed in some corners of the market.” Fleet sales for the full year of 2023 are forecast at 2.2 million, up 23% from 2022, when 1.8 million units were sold to commercial buyers.
What is the outlook for the aftermarket auto parts industry? ›The US light duty auto parts aftermarket market size is projected at $341 billion in 2022. The entire US automotive aftermarket including medium- and heavy-duty was $439 billion in 2022.
Who is the largest auto parts supplier in the world? ›Because they are made in the same way as genuine parts, OEM parts tend to be more reliable than aftermarket parts and last for longer. Warranty. OEM parts should come with a warranty to protect you if the part is defective or doesn't work properly. The specific warranty will differ by manufacturer.
What is the best marketplace for auto parts? ›The best websites to sell auto parts are the ones that were designed for both the seller and the buyer, ensuring that the experience for everyone in the marketplace is reliable, professional, secure, and safe. Amazon, eBay, and Walmart come out on top of that list. Here is why.
Who are the biggest companies in auto parts? ›Summary. MarkLines Co., Ltd. has compiled a FY2021 ranking of automotive parts suppliers in terms of sales (comparing the sales of each company's automotive businesses in U.S. dollars). The top five suppliers on the list are Bosch, Denso, ZF, Hyundai Mobis, and Magna.
How much margin is on auto parts? ›
Not all markups are created equally
Many automotive business consultants suggest an overall 100% markup on parts in order to achieve an overall 50-55% profit margin. This markup is important to achieve a 30 to 35% net operating profit. Shops that fail to succeed often have net operating profits of less than 15%.
There is good news on the horizon in 2023, however. J.P. Morgan estimates that prices for both new and used vehicles are set to decrease as supply chain issues abate and inflation is poised to keep easing.
Will US auto industry enter a recession in 2023? ›Unlike traditional downturns or past periods when demand was soft, most analysts expect global and U.S. auto sales to rise in 2023. That's mostly because auto sales were already at or near recessionary levels in the U.S. and other parts of the world since the onset of the Covid-19 pandemic in early 2020.
Will auto rates go down in 2023? ›In December of 2022, the Fed indicated that it expects the funds rate to fall to 4.1% by the end of 2024 after reaching the 5.1% mark by the end of 2023.
Should I buy a car now or wait until 2023? ›Americans planning to shop for a new car in 2023 might find slightly better prices than during the past two years, though auto industry analysts say it is likely better to wait until the fall. Since mid-2021, car buyers have been frustrated by rising prices, skimpy selection and long waits for deliveries.
Is the auto industry recovering? ›US Car Sales Recover
The net effect is that the US auto industry is expected to grow by more than 1 million vehicles in 2023 to about 15 million units.
Automakers have a lot more chips now, but buyers may be in short supply. The auto industry is coming off a difficult year. In 2022, the semiconductor chip shortage squeezed the supply of new cars and drove up prices, shrinking the pool of potential buyers.
What aftermarket parts increase value? ›- Body Kit: A body kit can give your car a whole new look and make it stand out from the rest. ...
- Exhaust System: ...
- Wheels and Tires: ...
- Lights: ...
- Interior: ...
- Paint: ...
- Transparent GPS Mount: ...
- Leather Seats:
No, they do not. Modifications do not add value to your car. Of course, nothing in life is quite that simple. But in general, aftermarket mods will not increase the resale value of your automobile in a private party transaction.
What is the difference between OEM and aftermarket auto parts? ›OEM stands for Original Equipment Manufacturer, which means the parts are made by the same company that makes the vehicle. Meanwhile, aftermarket parts are produced by a different parts company and are often designed to be compatible with as many makes and/or models as possible.
Who is the largest distributor of aftermarket auto parts in the US? ›
CAM International: America's largest auto parts redistributor.
Who is the number 1 automotive supplier? ›Tier 1 suppliers are companies that supply parts or systems directly to OEMs. These suppliers usually work with a variety of car companies, but they're often tightly coupled with one or two OEMs, and have more of an arms-length relationship with other OEMs.
Are Ford parts better than aftermarket? ›OEM parts are made by your vehicle's manufacturer and are designed and manufactured to exacting standards specifically for your Ford vehicle. As a result, they work better and fit better than aftermarket replacement parts.
Why is OEM more expensive than aftermarket? ›Why are OEM parts so expensive? OEM parts are more expensive, because they're designed specifically for your make and model. Since the parts are only designed for one kind of car, they have to charge more for each unit to make a profit. Aftermarket parts that fit many different vehicles can cost less.
Are Napa parts as good as OEM? ›I've used NAPA parts on a bunch of cars over the years, and generally found them to be at least as good as most OEM parts and a whole heck of a lot cheaper. I've also order things from Rockauto.com and been very satisfied with their stuff as well.
Is selling car parts online profitable? ›Selling auto parts and accessories online can be a great way to earn some extra money or even start a full-time business. But how much can you make selling car parts online? On average, car part retailers can earn anywhere from $500 to $50,000 per month selling spare parts and accessories online.
Who is Advance Auto Parts biggest competitor? ›Advance Auto Parts main competitors are Advanced Auto Repair, Copart, and Genuine Parts. Competitor Summary. See how Advance Auto Parts compares to its main competitors: The Home Depot has the most employees (500,001).
Who is O Reilly auto Parts competitor? ›O'Reilly Auto Parts's competitors. O'Reilly Auto Parts's competitors and similar companies include Dorman Products, Advance Auto Parts, AutoZone, Genuine Parts Company and LKQ. O'Reilly Auto Parts is a specialty retailer of automotive aftermarket parts, tools, supplies, equipment, and accessories.
Who is the world's seventh largest automotive supplier? ›With Forvia, Faurecia and Hella present the overarching name of the de facto group created after the successful completion of Faurecia's acquisition of a majority stake in Hella.
What car company has the most American made parts? ›
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Tesla dominates the list of most American-made cars.
| Rank | Make/Model | U.S. Assembly Location |
|---|---|---|
| 1. | Tesla Model Y | Fremont, Calif. Austin, Texas |
| 2. | Tesla Model 3 | Fremont, Calif. |
| 3. | Lincoln Corsair | Louisville, Ky. |
Sales of Toyota vehicles lifted off the accelerator in 2022 amid production slowdowns, but it beat Volkswagen for the third year in a row – and by more than two million vehicles – to remain the world's best-selling car maker.
Do auto parts stores make money? ›Car part retailers may make anything from $500 to $50,000 each month by selling spare parts and accessories on the internet. Of course, the amount earned will differ depending on the sort of auto parts you sell, your sales platform, and your marketing efforts.
Should labor cost more than parts? ›Parts-to-labor ratio can help managers determine whether they are charging too much or little for parts and labor. According to Bob O'Connor of Motor Magazine, a parts-to-labor ratio in the range of 0.8 to 1 is considered normal for the auto repair industry.
What is the gross margin for automotive aftermarket? ›Gross margin improved to 41.57 % in 1. Quarter 2023 from 30.14 % in previous quarter, now Ranking #62 and ranking within sector #1. Net margin for Automotive Aftermarket Industry is 2.69 % above industry average.
Is the automotive parts industry growing? ›The growing digitization of automotive component delivery services and the expansion of the automotive industry are likely to bolster the growth of the market. Fortune Business Insights™ has presented this information in its report titled, “Automotive Aftermarket, 2021-2028”.
Are car parts going up? ›As demand for vehicle maintenance rises, so do the costs for those repairs. According to Chung, the consumer cost of motor vehicle parts and equipment is up 20% compared to 2021. “It's all-encompassing, so whether it's new tires, wiper blades or oil changes, consumers are paying significantly more,” Chung said.
Are car parts increasing in price? ›Motor vehicle repair prices have jumped a staggering 23% over the last year, an inflation rate nearly four times higher than overall price increases, government data showed. The price hikes stem from a shortage of workers and car parts that has sent costs soaring for auto shops, industry experts said.
Is car parts stock a good buy? ›CarParts.com Inc's analyst rating consensus is a Strong Buy. This is based on the ratings of 4 Wall Streets Analysts.
Who is the largest auto parts supplier in the US? ›Autozone is the largest auto parts chain with 5,914 locations in all 50 states.
Is there really a car parts shortage? ›
The need for more cars to be repaired stems in part from the rising prices of new and used cars and the shortage of them — new-car sales are down to 13.7 million for 2022 versus just under 15 million in 2021, mainly due to production snags. Many would-be buyers are hanging on to cars longer than ever before.
How long will the car part shortage last? ›Automotive manufacturers are still dealing with the effects of the microchip shortage that began in 2020. Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions, told reporters that he believes the industry will see 2-3 million units cut from production in 2023.
What is the inflation of auto parts? ›Data Did You Know: The pace of inflation in motor vehicle parts is slowing down. Prices are still going up, just not as fast as they were before. In January 2023, the CPI for Motor Vehicle Parts and Equipment rose 8.3% over January of 2022. That compares to December's gain of 9.9%.
Why are aftermarket car parts cheaper? ›Aftermarket parts can be made by any company that wants to manufacture car parts, so you have more options when looking for a part. Cheaper cost. Because there are more options available for aftermarket parts, they tend to be cheaper.
Why are car parts so expensive right now? ›Nowadays, cars are lasting longer. This is good news from a sustainability angle, but older cars need to be repaired more often, and the repairs often need more parts. And because of technology advances, the parts are more specialized, less interchangeable, and more expensive.
Are aftermarket parts more expensive? ›Cost. Prices for aftermarket parts are almost always less than those for OEM parts, which can be 60% more expensive. Since parts make up almost half of the cost of most body work, saving money here can cut down on the total cost of the repair.
What time of year is best to buy car parts? ›September, October, and the first half of November are the times of the year when large retailers (Walmart, Amazon) try to get rid of excess inventory. Other auto parts stores will usually do price matching. So the best time to buy motor oil is after Labor Day but before Black Friday.
Is O Reilly's a good stock to buy? ›The financial health and growth prospects of ORLY, demonstrate its potential to perform inline with the market. It currently has a Growth Score of B. Recent price changes and earnings estimate revisions indicate this would not be a good stock for momentum investors with a Momentum Score of F.
What is aftermarket vs stock car parts? ›OEM stands for Original Equipment Manufacturer, which means the parts are made by the same company that makes the vehicle. Meanwhile, aftermarket parts are produced by a different parts company and are often designed to be compatible with as many makes and/or models as possible.