Automotive Aftermarket, Analysis and Forecast - SINGLE USER

The global automotive aftermarket is estimated to witness a growth at a CAGR of 8% over the period from 2016-2022.
This substantial growth in the market is accredited to the robust global base of vehicle fleet, which is constantly widening, thereby generating more demand for aftermarket parts and components. The stricter fuel-efficiency laws and government regulations imposed in some countries to improve global safety, reduce environmental pollution and emission of hazardous gases, decrease energy and fuel consumption, improving anti-theft performance, and augment the demand for performance components and specialty aftermarket accessories and equipment. With the widening global base of the automotive fleet, a rise in the number of accidents/collisions is also witnessed, for which an imperative need for aftermarket products arises.
The report is a compilation of different segments of global automotive aftermarket including market breakdown by type and geography. It also includes sections on competitive insights and market dynamics. Herein the revenue generated from the segments by type is tracked to calculate the market size, by each type and for each country, along with a detailed explanation how they are shaping the market.
The report titled “Global Automotive Aftermarket, Analysis and Forecast 2016-2022, Focus on Powertrains, Chassis & Safety, Body & Interior and Tires” covers various segments by type, as well as region wise dynamics and developments.
This report details include:
The type of aftermarket products are divided into four categories viz. powertrains, chassis & safety, body & interior and tires. The market dynamics of these products have been restricted to the organized sector at the manufacturer level.
Regional Developments- The revenue split by geography has been listed, each seen to be supported by a number of factors, from the development of the automotive and aftermarket industry in certain countries to top performing countries in these geographies. The different dynamics in the geographies is seen to be governed by the average age of the vehicles in that country, the economy (GDP, etc.), the import and export data and the government policies and regulations in the country with respect to the automotive industry.
While highlighting the key driving and restraining forces for this market, the report also provides a comprehensive section of certain trends followed by the automotive aftermarket. It also details some of the key participants involved in the industry. The company profile section includes highlights of significant information about the key companies involved along with their financial positions, key strategies, & developmental activities of recent years. The strategy used most often for developing a better hold on the market has been through product launches, followed by agreements, collaborations and partnerships, which also helps them spread their areas of operation, geographically. Some of the key players are Continental AG, Denso Corporation, Delphi Automotive, ZF-TRW, Hitachi, Mitsubishi Electric, WABCO, NSK Ltd. etc.
European Union generated the maximum revenue in the year 2015 followed by North America and Asia. Asia is expected to grow at the fastest CAGR in the forecast period, followed by EU and North America. The industry is expected to cross $700 billion in its market value by the end of forecast period.

The report answers the following questions about the global automotive aftermarket:
• What is the global automotive aftermarket size is in terms of revenue from 2015-2022?
• What are the different segments of the automotive aftermarket by type, along with their global revenue realization?
• What is the revenue generated by different countries in the automotive aftermarket industry?
• What are the major factors affecting the growth of the market along with the current and future trends in the automotive aftermarket?
• What are the different factors driving the market in the forecast period?
• What are the factors challenging the growth of global automotive aftermarket?
• Who are the different participants in the global automotive aftermarket?
• What kind of initiatives and programs are undertaken by governments and related agencies globally to attain more acceptance for the industry products?
• Which region will lead the global automotive aftermarket by the end of the forecast period?
Executive Summary 14
1 Scope & Research Methodology 23
1.1 Report Scope 23
2 Market Dynamics 26
2.1 Introduction 26
2.2 Major Trends 27
2.2.1 Increasing Average Age of Vehicles 27
2.2.2 OEM Globalisation 28
2.2.3 E-Tailing 29
2.3 Market Drivers 31
2.3.1 Large-Scale Global Base of Vehicle Fleet 31
2.3.2 Stricter Fuel-Efficiency and Vehicle Emission Laws 32
2.3.3 Rise in The Number of Road Accidents 34
2.4 Market Challenges 36
2.4.1 Extended Warranty on Original Equipment 36
2.4.2 Impact of Electric Vehicles 37
2.4.3 Low Cost Country Imports 38
2.5 Opportunities 39
3 Competitive Landscape 40
3.1 Market Share Analysis 40
3.2 Strategic Alliances and Acquisitions (M&A) 42
3.3 Key Business Expansions 48
3.4 Key Partnerships/Collaborations/Joint Ventures 52
3.5 Product Launches & Development 56
4 Automotive Aftermarket by Type 58
4.1 Powertrain 61
• Description
• History
• Revolution in the Powertrain Segment
• Regulations for the Powertrain Segment
• Powertrain Segment Components & their Share
• Powertrain Market Forecast (2016-2022)
4.2 Tire 64
• Production
• Major players
• Regulations for tires
• Tire Market forecast (2016-2022)
• Effect of low cost country imports
• Average cost of tire & replacement costs
4.3 Chassis & Safety 68
• Components
• Chassis & Safety Market forecast (2016-2022)
4.4 Body & Interior 70
• Regulations
• Body & Interior Market forecast (2016-2022)
• Opportunities
5 Automotive Aftermarket by Geography 72
5.1 Asia 74
5.1.1 China 74
5.1.2 India 77
5.1.3 Rest of Asia 83
5.2 North America 84
5.2.1 United States 84
5.2.2 Canada 87
5.3 Rest of America 91
5.4 European Union 92
5.4.1 Germany 94
5.4.2 United Kingdom 95
5.5 Rest of the World 98
5.5.1 Brazil 98
6 Company Profiles 101
6.1 Continental AG 101
6.1.1 Company Overview 101
6.1.2 Financials 102
6.1.2.1 Financial Summary 103
6.1.3 SWOT Analysis 104
6.2 Delphi Automotive PLC 105
6.2.1 Company Overview 105
6.2.2 Financials 106
6.2.2.1 Financial Summary 107
6.2.3 SWOT Analysis 108
6.3 Denso Corporation 109
6.3.1 Company Overview 109
6.3.2 Financials 110
6.3.2.1 Financial Summary 112
6.3.3 SWOT Analysis 113
6.4 Hitachi Ltd 114
6.4.1 Company Overview 114
6.4.2 Financials 115
6.4.2.1 Financial Summary 117
6.4.3 SWOT Analysis 118
6.5 Infineon Technologies AG 119
6.5.1 Company Overview 119
6.5.2 Financials 120
6.5.2.1 Financial Summary 121
6.5.3 SWOT Analysis 122
6.6 Robert Bosch GmbH 123
6.6.1 Company Overview 123
6.6.1.1 Financial Summary 125
6.6.2 SWOT Analysis 126
6.7 Federal-Mogul Holdings Corporation 127
6.7.1 Company Overview 127
6.7.2 Financials 128
6.7.2.1 Financial Summary 129
6.7.3 SWOT Analysis 130
6.8 Akebono Brake Industry Co. Ltd. 131
6.8.1 Company Overview 131
6.8.2 Financials 132
6.8.2.1 Financial Summary 134
6.8.3 SWOT Analysis 135
6.9 ZF TRW Automotive Holdings Corporation 136
6.9.1 Company Overview 136
6.9.2 Financials 137
6.9.2.1 Financial Summary 138
6.9.3 SWOT Analysis 139
6.10 Mitsubishi Electric Corporation 140
6.10.1 Company Overview 140
6.10.2 Financials 141
6.10.2.1 Financial Summary 142
6.10.3 SWOT Analysis 143
6.11 NSK Ltd. 144
6.11.1 Company Overview 144
6.11.2 Financials 145
6.11.2.1 Financial Summary 146
6.11.3 SWOT Analysis 147
6.12 WABCO 148
6.12.1 Company Overview 148
6.12.2 Financials 149
6.12.2.1 Financial Summary 150
6.12.3 SWOT Analysis 151
6.13 Magna International 152
6.13.1 Company Overview 152
6.13.2 Financials 153
6.13.2.1 Financial Summary 154
6.13.3 SWOT Analysis 155
6.14 Brembo S.P.A 156
6.14.1 Company Overview 156
6.14.2 Financials 157
6.14.2.1 Financial Summary 159
6.14.3 SWOT Analysis 159
6.15 Gates Corporation 160
6.15.1 Company Overview 160
6.15.2 Company Overview 160
6.16 Cooper Tire & Rubber 161
6.16.1 Company Overview 161
6.16.2 Financials 162
6.16.2.1 Financial Summary 163
6.16.3 SWOT Analysis 164

List of Tables
Table 3.1 Mergers and Acquisitions 43
Table 3.2 Key Business Expansion Activities 48
Table 3.3 Key Partnerships/Collaborations/Joint Venture 52
Table 3.4 Key Product Launches 56
Table 4.1 Global Automotive Aftermarket, by Type, 2015 –2022 60
Table 5.1 Global Market Size (By Regions) Revenue ($ Billion) 73
Table 5.2 Global Market Size (By Countries) Revenue ($ Billion) 73
Table 5.3 Indian Automotive Industry-Production Overview, 2015-2016 78
Table 5.4 Import and Export Data for the Indian Automotive Market 79
List of Figures
Figure 1 Share of Organized and Unorganized Sector in India 15
Figure 2 Global Automotive Aftermarket Revenues 16
Figure 3 Global Share With and Without Top Companies 17
Figure 4 Global Market Share of Top Companies (By Revenue) 17
Figure 5 Competitive Landscape Share 19
Figure 6 Share of the Automotive Aftermarket Segments 20
Figure 7 Global Market Revenues by Type (2015-2022) 21
Figure 8 Global Market Revenue By Region (2015-2022) 22
Figure 9 Global Market Revenue and CAGR (By Region) 22
Figure 1.1 Scope of the Report 23
Figure 1.2 Bottom Up & Top Down Approach 24
Figure 2.1 Global Automotive Aftermarket Dynamics 26
Figure 2.2 Average Age of Vehicles in the United States, 2002-2016 28
Figure 2.3 Global Car Sales (2013-2016) 31
Figure 2.4 Fuel Usage in Vehicles in the U.S. 33
Figure 2.5 Carbon Dioxide Emissions in Vehicles in the U.S. 33
Figure 2.6 Road Accidents by Type of Vehicles (2015) 35
Figure 2.7 Global Warranty Claims by the U.S. Manufacturers 36
Figure 2.8 Global Sales of EVs, 2016 37
Figure 2.9 Global Monthly Sales of Plug-In Vehicles (2014-2016) 38
Figure 3.1 Competitive Landscape, 2015 41
Figure 3.2 Share of Key Players in Competitive Landscape 41
Figure 4.1 Global Vehicle Production (2011-15) 58
Figure 4.2 Aftermarket Segments Share, 2015 59
Figure 4.3 Aftermarket by Type (20152022), $Billion 59
Figure 4.4 Powertrain Components Share, 2015 62
Figure 4.5 Powertrain Market Forecast, $Billion (2016-2022) 63
Figure 4.6 Tire Market Forecast, $Billion (2016-2022) 65
Figure 4.7 Average Cost Per Tire, U.S. (2013-2015) 66
Figure 4.8 Tire Replacement Sales, U.S. 2015 67
Figure 4.9 Chassis & Safety Market Forecast, $Billion (2016-2022) 69
Figure 4.10 Body and Interior Market Forecast, $Billion (2016-2022) 71
Figure 5.1 Global Automotive Aftermarket Revenues ($ Billion) 72
Figure 5.2 Number of Vehicles Produced (2010-2015) 74
Figure 5.3 China Automotive Aftermarket Forecast (2016-2022), $Billion 75
Figure 5.4 India Automotive Aftermarket Forecast (2015-2022), $Billion 77
Figure 5.5 Global Auto Exports % from India, 2016 80
Figure 5.6 Global Auto Exports from India, 2016 80
Figure 5.7 India Major Components Manufactured, % 2015 81
Figure 5.8 Asia Automotive Aftermarket Forecast (2015-2022), $Billion 83
Figure 5.9 Sales of Light Vehicles, U.S. (2012-2016) 84
Figure 5.10 U.S. Automotive Aftermarket Forecast (2015-2022), $Billion 85
Figure 5.11 Canadian Automotive Aftermarket Exports (2011-2015) 88
Figure 5.12 Canadian Automotive Aftermarket Forecast (2015-2022), $Billion 89
Figure 5.13 North American Automotive Aftermarket Forecast (2015-2022), $Billion 91
Figure 5.14 European Union Automotive Aftermarket Forecast (2015-2022), $Billion 92
Figure 5.15 Europe Vehicle Registrations and Production, 2015 93
Figure 5.16 Global Premium Car Production, 2014 94
Figure 5.17 U.K. Automotive Trade Data, 2015 97
Figure 5.18 RoW Automotive Aftermarket Forecast (2015-2022), $Billion 98
Figure 5.19 Brazilian Automotive Import and Export (2014-2016) 99
Figure 6.1 Overall Financials, 2013-2015 102
Figure 6.2 Segment Revenue Mix, 2015 102
Figure 6.3 Geographic Revenue Mix, 2013-2015 103
Figure 6.4 Overall Financials, 2013-2015 106
Figure 6.5 Segment Revenue Mix, 2013-2015 106
Figure 6.6 Geographic Revenue Mix, 2013-2015 107
Figure 6.7 Overall Financials, 2013-2015 110
Figure 6.8 Segment Revenue Mix, 2013-2015 110
Figure 6.9 Automotive Segment Revenue Mix, 2015 111
Figure 6.10 Geographic Revenue Mix, 2015 111
Figure 6.11 Overall Financials, 2014-2016 115
Figure 6.12 Segment Revenue Mix, 2013-2015 115
Figure 6.13 Automotive Revenue Mix, 2015 116
Figure 6.14 Geographic Revenue Mix, 2013-2015 116
Figure 6.15 Overall Financials, 2013-2015 120
Figure 6.16 Segment Revenue Mix, 2013-2015 120
Figure 6.17 Geographic Revenue Mix, 2013-2015 121
Figure 6.18 Overall Financials, 2013-2015 124
Figure 6.19 Segment Revenue Mix, 2013-2015 124
Figure 6.20 Geographic Revenue Mix, 2013-2015 125
Figure 6.21 Overall Financials, 2013-2015 128
Figure 6.22 Segment Revenue Mix, 2013-2015 128
Figure 6.23 Geography Revenue Mix, 2013-2015 129
Figure 6.24 Overall Financials, 2014-2016 132
Figure 6.25 Segment Revenue Mix, 2014-2016 132
Figure 6.26 Geography Revenue Mix, 2014-2016 133
Figure 6.27 Customer Share, 2016 133
Figure 6.28 Overall Financials, 2013-2015 137
Figure 6.29 Segment Revenue Mix, 2013-2015 137
Figure 6.30 Geographic Revenue Mix, 2013-2015 138
Figure 6.31 Overall Financials, 2013-2015 141
Figure 6.32 Segment Revenue Mix, 2013-2015 141
Figure 6.33 Geographic Revenue Mix, 2013-2015 142
Figure 6.34 Overall Financials, 2013-2015 145
Figure 6.35 Business Segment Mix, 2013-2015 145
Figure 6.36 Geographic Segment Mix, 2013-2015 146
Figure 6.37 Overall Financials, 2013-2015 149
Figure 6.38 Segment Revenue Mix, 2013-2015 149
Figure 6.39 Geographic Revenue Mix, 2013-2015 150
Figure 6.40 Overall Financials, 2013-2015 153
Figure 6.41 Geographic Revenue Mix, 2013-2015 153
Figure 6.42 Business Segment Revenue Mix, 2013-2015 154
Figure 6.43 Overall Financials, 2013-2015 157
Figure 6.44 Segment Revenue Mix, 2013-2015 157
Figure 6.45 Geography Revenue Mix, 2013-2015 158
Figure 6.46 Application Revenue Mix, 2013-2015 158
Figure 6.47 Overall Financials, 2013-2015 162
Figure 6.48 Geography Revenue Mix, 2013-2015 $Billion 162
Figure 6.49 Application Revenue Mix, 2013-2015 163
The automotive aftermarket is the secondary market of the automotive industry, one of the most well-established industries of its kind, globally. It comprises every replacement, detailing, customisation, done to the vehicle once it is sold. The market covers all the segments from manufacturing and remanufacturing of the vehicle parts, accessories and components to their distribution and retailing to finally installing and/or repairing them. The automotive industry itself is a trillion dollar recording the sales of vehicles around ~74 million vehicles in 2015, which creates enormous opportunities for the automotive aftermarket parts and services.
The global automotive aftermarket is forecast to grow at a healthy CAGR of 8% as improved global economic conditions prompt consumers to buy new vehicles and replace older vehicles with new fuel-efficient models are growing in the market.
BIS Research Team
As the automotive aftermarket is growing, the average age of vehicles has been increasing, along with original equipment manufacturers globalizing their base. The aftermarket business fetches 5-6% of its revenue through e-tailing channels, and the percentage share will continue to rise in future due to convenience, cheaper prices, variety of options available to the customers.
The aftermarket has been tracked and estimated by type and geography. The aftermarket by type, can be further segmented into powertrains, chassis and safety, body and security and tires. The market has also been estimated for growth in each of these segments with individual CAGR and y-o-y growth rates, factors driving the growth and impeding it, along with government regulations and policies and other initiatives associated with the market dynamics.
The demand for these products are fulfilled by many major players, some of them being Continental AG, Federal Mogul, ZF-TRW, WABCO, Infineon AG, Hitachi, Bosch, Denso Corporation, Delphi, Continental AG, Magna International, NSK Ltd., Akebono Brake, and Brembo S.p.A., which have been profiled in detail. All of these companies deal in one or multiple of the products of the aftermarket. These companies are driving the industry with continuous business expansions, mergers and acquisitions, partnerships and products.
The major geographies covered are North America- U.S and Canada, Asia- China & India, Europe- U.K. & Germany, and ROW- Brazil. A thorough geographical analysis has identified and predicted European Union to be currently the largest market for automotive after-parts and components, at the manufacturer level of the organized sector, globally. Asia, is predicted to grow at the fastest CAGR, with China and India as the major contributors in the predicted increase. All these are strongly dependent on the number and average age of vehicles on road, stringent government regulations and policies, developmental activities, economic conditions of the country, and the import and export data along with government support.
The report provides complete revenue generation estimation (2016-2022) for selected countries within each geography and their individual dynamics for the revenue to grow by each type of product viz, powertrain, chassis & safety, body & interior and tires.
Asia
China
India
Rest of Asia
North America
United States
Canada
Rest of America
European Union
Germany
United Kingdom
Rest of the World
Brazil
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The automotive industry is one of the major industries of its kind in the world, and also one of the key contributors to the GDP of every country. The aftermarket is the secondary market of the automotive industry which is being driven by the robust global base of vehicle fleet. Keeping in view the rapidly growing automotive industry, leading to growth in the aftermarket segment, BIS Research has published a report, titled – “Global Automotive Aftermarket- Analysis and Forecast 2016-2022, Focus on Powertrain, Chassis & Safety, Body & Interior, and Tires”, providing insights on the various aspects of the market by segmenting it into categories such as- type and regions (along with segmenting the regions into countries). The market numbers play an important role in the industry, following which a proper market sizing & estimation by technology type and by geographical location (regions and countries) has been done for the industry. The global market sizing and estimation in terms of revenue generated by type and geography have been included in the report.
The ongoing changes in the industry has led BIS Research to incorporate a detailed chapter on the market dynamics segment including the key trends, along with the drivers and challenges for the global automotive aftermarket through the forecast period, 2016-2022. The industry’s potential has also been identified through a comprehensive listing of product launches, acquisitions, and partnerships among others, the report has included a separate section of the detailed competitive landscape.
The recent activities by the key players in this market have also been tracked in the form of company profiles. Some of the key companies covered in the report are Continental AG, Federal Mogul, ZF-TRW, WABCO, Infineon AG, Hitachi, Bosch, Denso Corporation, Delphi, Continental AG, Magna International, NSK Ltd., Akebono Brake, and Brembo S.p.A.
A thorough geographical analysis of the automotive aftermarket with the help of a detailed study of the governing factors such as average age of vehicles, import-export data in the automotive industry, and the government regulations influencing the process of manufacturing have been considered for the analysis, estimation and forecast of the global automotive aftermarket.
BIS Research has estimated the industry to grow up to $735 billion by 2022 at a CAGR of 8% through 2016-2022, with Asia growing at the fastest rate, followed by EU and North America.
Continental AG, Federal Mogul, ZF-TRW, WABCO, Infineon AG, Hitachi, Bosch, Denso Corporation, Delphi, Continental AG, Magna International, NSK Ltd., Akebono Brake, and Brembo S.p.A.