The ASEAN automotive aftermarket is expected to experience significant growth in the coming years due to the increasing demand for vehicle maintenance, repair, and replacement services in the region. The rise of vehicle ownership, expanding vehicle parc, and growing number of aging vehicles is driving the demand for aftermarket services, including parts and accessories, maintenance, and repair. Additionally, the emergence of e-commerce platforms and digitalization is creating new opportunities for aftermarket players to reach customers more effectively and efficiently. However, the market is also facing challenges, including price competition, counterfeit products, and stringent regulations. Overall, the ASEAN automotive aftermarket is expected to experience steady growth in the coming years, driven by the rising demand for quality and affordable automotive aftermarket services.
The ASEAN Automotive Aftermarket was estimated to account for US$ 28,450 Mn in terms of value in 2021 and is predicted to grow at a CAGR of 9.3% during the forecast period (2022 to 2030).
Major Players in the ASEAN Automotive Aftermarket:
Bridgestone Corporation
Bridgestone Corporation is a Japanese multinational tire manufacturing company founded in 1931. It is headquartered in Tokyo, Japan, and operates in over 150 countries worldwide, including the United States, Canada, Brazil, China, and Europe. Bridgestone is known for its premium quality tires and automotive products. In March, 2023 Fia Partners With Bridgestone on Ecorally Cup Initiative
ACDelco
ACDelco is an American automotive parts supplier owned by General Motors (GM). It was founded in 1916 and is headquartered in Grand Blanc, Michigan. ACDelco operates in over 100 countries, providing replacement parts for GM vehicles as well as other makes and models.
Denso Corporation
Denso Corporation is a Japanese automotive components manufacturer founded in 1949. Its headquarters are located in Kariya, Japan, and the company operates in over 30 countries, including the United States, China, and Europe. Denso is known for its innovative products, including electronic systems, engine components, and air conditioning systems. In March, 2023 DENSO CORPORATION, a leading mobility supplier, announced it has developed its first-ever inverter with silicon carbide (SiC) semiconductors.
Aisin Seiki Co., Ltd.
Aisin Seiki Co., Ltd. is a Japanese automotive parts supplier founded in 1949. Its headquarters are located in Kariya, Japan, and the company operates in over 20 countries, including the United States, China, and Europe. Aisin Seiki is known for its transmission and brake systems, as well as its engine and body components.
Hella KGaA Hueck & Co.
Hella KGaA Hueck & Co. is a German automotive parts supplier founded in 1899. Its headquarters are located in Lippstadt, Germany, and the company operates in over 35 countries, including the United States, China, and Europe. Hella is known for its lighting systems, electronics, and other automotive components.