Asean Automotive Aftermarket

The automotive aftermarket is the automotive industry market which includes equipment, replacement tires, service repair, collision, repair and accessories, etc. Companies operated in automotive aftermarket are manufacturing, remanufacturing, retailing, distribution, and installation of replacement vehicle parts, automotive accessories, service repair, and equipment. The automotive aftermarket deals with oil and lubricants, batteries, tires, filters, starters and alternators, coatings and paint consumables, exhaust components, spark plugs, crash parts, etc. There are interior and exterior accessories including audio/video devices, steering wheels, parking brake handles, shift boots, grills, headlight covers, front & rear guards, mirrors, etc. Consumers can repair their vehicles on their own with the DIY segments or can take the vehicle to professional repair facilities.

Market Dynamics:

Increase in the average age of a vehicle is expected to boost growth of the ASEAN automotive aftermarket during the forecast period. Material and technology used for automotive manufacturing has improved from the past which increases the average age of vehicles. According to Coherent Market Insights’ analysis, in 2016, the number of vehicles on the road with an age range of 5-8 years was around 6 million in Thailand. According to the same source, the number of vehicles over 12 years old is expected to increase by 15% over the next five years globally. Moreover, the reliability of vehicles has improved substantially over the past decade. Consumers are not selling their vehicle instead of keeping old cars as second preferable vehicle. As a result of this, the age of vehicles is increasing, which, in turn, increases the demand for replacement parts, repairs, and maintenance. Thus, these factors are expected to drive the market's growth over the forecast period.

Furthermore, rising disposable income and increased vehicle parts sales are expected to propel the ASEAN automotive aftermarket forward during the forecast period. Disposable income in ASEA has increased significantly, and increased consumer expenditure on automotive parts is driving the growth of the market due to increased automotive sales.

Key features of the study:

• This report provides in-depth analysis of the ASEAN Automotive Aftermarket, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the ASEAN Automotive Aftermarket based on the following parameters– company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered in the ASEAN Automotive Aftermarket includes Bridgestone Corporation, Denso Corporation, Hella KGaA, BorgWarner Inc., Robert Bosch GmbH, Continental AG, Enkei Corporation, F.C.C. Co.,Ltd., Mitsuba Corp., Schlemmer, Showa Corporation, Yachio Industry Co., Ltd., TOYOTA MOTOR CORPORATION, and ZF Friedrichshafen AG
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• ASEAN Automotive Aftermarket report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the ASEAN Automotive Aftermarket

Detailed Segmentation:

• ASEAN Automotive Aftermarket, By Automotive Component:
  • Battery
  • Body Parts
  • Brake Parts
  • Exhaust Components
  • Filters
  • Lighting and Electronic Components
  • Tire
  • Engine Components
  • Powertrain
  • Electrical & Air Conditioning
  • Wheels
  • Lubricants
  • Others
  • Cars
• ASEAN Automotive Aftermarket, By Vehicle Type:
  • Bikes
  • Vans, Racing Bikes, and Cars
  • Commercial Vehicles
• ASEAN Automotive Aftermarket, By Sales Channel:
  • General Repair & Service Stations
  • Body Shops
  • Independent & OEM Authorized Service Center/Dealers
• Company Profiles:
  • Bridgestone Corporation
  • Denso Corporation
  • Hella KGaA
  • BorgWarner Inc.
  • Robert Bosch GmbH
  • Continental AG
  • Enkei Corporation
  • C.C. Co.,Ltd.
  • Mitsuba Corp.
  • Schlemmer
  • Showa Corporation
  • Yachio Industry Co., Ltd.
  • TOYOTA MOTOR CORPORATION
  • ZF Friedrichshafen AG