US Automotive Parts Aftermarket by Type and Distribution Channel - Forecast and Analysis 2023-2027

US Automotive Parts Aftermarket Market Forecast 2023-2027

The US automotive parts aftermarket market size is estimated to grow by USD 30.83 billion between 2022 and 2027 accelerating at a CAGR of 7.69% 

The US market is growing due to the benefits of using original OE replacement parts. They come with a warranty and adhere to quality standards and specifications, boosting buyer confidence. However, finding and selecting the right replacement part can be challenging, and the presence of fake or duplicate parts in the market adds to the confusion. It's crucial to ensure that aftermarket parts are genuine and original to ensure optimal vehicle performance. Genuine aftermarket parts adhere to required standards and come with a limited warranty against defects, providing peace of mind for buyers. These factors are expected to drive market growth in the forecast period.

What will be the Size of the US Automotive Parts Aftermarket Market During the Forecast Period?

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Market Dynamic and Customer Landscape

Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Significant Trends

The growth in the availability of automotive aftermarket parts on e-commerce platforms is a significant trend impacting the US aftermarket automotive attachments and components market. Sales of online retail parts have been consistently increasing, reflecting a shift towards online platforms. E-commerce platforms offer several advantages, such as providing detailed information about the parts or components, and the ability to compare prices with other websites. Brake parts, filters, lighting components, tires, lubricants, and batteries are among the popular automotive aftermarket components bought online. These factors are expected to support market growth during the forecast period.

Major Challenge

The growing adoption of 3D printing in the manufacturing industry could potentially hinder the growth of the US aftermarket automotive parts and components market. The use of 3D printing allows for same-day production and shipments, enabling automotive spare part manufacturers to shift towards on-demand manufacturing to reduce inventory management and packaging costs. This reduces the need for bulk production, and manufacturers can save on inventory, time, and labor costs. As a result, the adoption of 3D printing is increasing in industries such as electronics, automotive components, and workshop tools. However, this may reduce the demand for automotive components, negatively impacting the growth of the aftermarket in the US during the forecast period.

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Market  Segmentation by Type, Geography

Type Analysis

The US passenger vehicles market is a dominant force in driving growth for the market. Popular vehicles such as hatchbacks, sedans, and estates require regular service and maintenance, driving high-volume sales in this segment. The rise of plug-in hybrid and battery electric vehicles is also contributing to its growth. The US market is highly diverse, with both local and foreign automakers enjoying high-volume sales. The overall quality and reliability of passenger vehicles have improved, leading to longer product lifecycles and increased demand for replacement. 

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Commonly replaced wear and tear components include wipers, brake pads, tires, air filters, and spark plugs. Well-established companies such as Continental, ZF Friedrichshafen, and Delphi Technologies offer OE replacement components, while AutoNation and AutoZone are players in the pure-play aftermarket. Online players such as Amazon, eBay, and US Auto Parts Network dominate the market for automotive aftermarket parts sold online. Overall, these factors are expected to drive the growth of the passenger vehicles segment during the forecast period.

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Who are the Major US Automotive Parts Aftermarket Market Players?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market in the US. One of the major vendors in the market include:

Adient Plc -The company offers automotive parts such as foam, trim, and commercial vehicle seats. The company's operations in the Americas region, which includes North and South America, fall under this segment. The segment covering Europe, Middle East, and Africa handles the company's business activities in those regions. The Asia Pacific and China region is covered by this segment of the company's operations.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• 3M Co.
• Adient Plc
• Aisin Corp.
• American Axle and Manufacturing Holdings Inc.
• Aptiv Plc
• DENSO Corp.
• FlexNGate Group of Companies
• Lear Corp.
• Magna International Inc.
• NGK SPARK PLUG Co. Ltd.
• Panasonic Holdings Corp.
• Pioneer Corp.
• Robert Bosch GmbH
• Samsung Electronics Co. Ltd.
• Schaeffler AG
• Stellantis NV
• Tenneco Inc.
• Valeo SA
• Yazaki Corp.
• ZF Friedrichshafen AG

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Type Outlook (USD Billion, 2017 - 2027)
  • Passenger vehicles
  • Commercial vehicles
• Distribution Channel Outlook (USD Billion, 2017 - 2027)
  • Offline 
  • Online

Market Analyst Overview

The Market in the US is witnessing significant digitization and evolution, driven by advancements in technology and changes in consumer behavior. With a focus on auto repair and maintenance service delivery, car owners are increasingly turning to online platforms for purchasing custom components such as mufflers, resonators, and turbochargers. Overseas suppliers and distributors are also leveraging digitalized technologies to expand their reach into the US market. Key players like Continental AG and 3M Company are at the forefront of this transformation, offering online portals and digital platforms to cater to the diverse needs of consumers and service dealers alike. However, supply chain disruptions and restrictions on movement due to factors like stay-at-home orders have impacted the availability of automotive aftermarket products and components, leading to delays in production and distribution.

Despite these challenges, the Market in the US continues to adapt and thrive, fueled by the growing demand for aftermarket accessories and environmental concerns driving the adoption of Electric Vehicles (EVs). The US market is experiencing significant changes in the automotive parts industry, particularly in the mufflers and resonators segment. In the US automotive parts aftermarket market, a key focus lies in addressing emissions concerns, notably greenhouse gas (GHG) and CO2 emissions. As fuel prices rise, consumers turn to aftermarket retailers, wholesalers, and distributors for cost-effective solutions. These players offer a wide range of aftermarket parts and components sourced from reliable raw materials, ensuring quality and reliability.The trend of internationalization and consolidation is reshaping the landscape of auto parts suppliers, influencing their ecommerce strategy. The adoption of online systems is transforming the way installers and logistics experts operate.

Amid evolving fuel economy standards, technological advancements in production technologies, including robotics and automation, are reshaping auto repair and maintenance service delivery models. Startups like CarParts and Auto Parts Warehouse are leveraging turbocharged engines and addressing the needs of the transportation industry, especially heavy-duty diesel engines, through their online sales platforms. However, the market faces challenges such as supply shortages, longer lead times, and economic impacts on consumer spending habits, leading to a shift in focus from nonessential vehicle repairs to essential vehicle modifications. The tire segment is a key player in the automotive aftermarket, contributing to the overall growth and adaptability of the industry.

US Automotive Parts Aftermarket Market Scope
Report Coverage	Details
Page number	136
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 7.69%
Market growth 2023-2027	USD 30.83 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	7.09
Regional analysis	US
Performing market contribution	US at 100%
Key countries	US and North America
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	3M Co., Adient Plc, Aisin Corp., American Axle and Manufacturing Holdings Inc., Aptiv Plc, DENSO Corp., FlexNGate Group of Companies, Lear Corp., Magna International Inc., NGK SPARK PLUG Co. Ltd., Panasonic Holdings Corp., Pioneer Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Schaeffler AG, Stellantis NV, Tenneco Inc., Valeo SA, Yazaki Corp., and ZF Friedrichshafen AG
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our  market research reporthas not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across US
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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