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The US automotive parts aftermarket market size is estimated to grow by USD 35 billion between 2023 and 2028 accelerating at a CAGR of 8.09%. The Automotive Parts Aftermarket in the US is experiencing significant growth due to several factors. Firstly, the increasing average age of vehicles on the road is leading to higher demand for replacement parts. According to the National Automobile Dealers Association, the average age of vehicles in the US is currently over 11 years, and this trend is expected to continue. Secondly, there is a growing passion for vehicle customization among consumers, which is driving up the demand for original equipment (OE) replacement parts. These parts ensure that vehicles maintain their original performance and quality, making them a popular choice among enthusiasts. Thirdly, the number of vendors in the automotive parts aftermarket is also increasing, providing consumers with more options and competitive pricing. This market growth is expected to continue, with the aftermarket for replacement parts projected to reach USD 122 billion by 2025. In summary, the US Automotive Parts Aftermarket is experiencing robust growth due to the increasing average age of vehicles, the growing passion for customization, and the increasing number of vendors. This trend is expected to continue, making it an attractive market for investors and businesses.
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For automotive enthusiasts, finding quality OEM parts and performance parts is crucial to maintaining their vehicles. Alongside these components, investing in top-notch car care products ensures longevity and aesthetics. From enhancing stopping power with reliable brakes to upgrading aesthetics with sleek wheels and powerful exhaust systems, every aspect of the vehicle can be tailored to perfection. Moreover, optimizing suspension and fine-tuning engine parts maximizes performance potential, while cutting-edge automotive electronics provide advanced functionalities and connectivity. Proper maintenance requires attention to detail, including the selection of high-quality fluids and the occasional replacement of body parts for both aesthetic appeal and structural integrity. Whether it's for performance gains, aesthetic upgrades, or routine maintenance, a comprehensive selection of automotive products, ranging from OEM parts to car care products, caters to every need of discerning car owners.
The market is growing due to the benefits of using original OE replacement parts. The original automotive parts available in the aftermarket are generally available with a warranty and adhere to quality standards and specifications. The warranty period generally ranges from 1 year to 3 years, depending on parts to parts. This boosts the confidence among buyers in the commercial market, and therefore acts as the market enabler for the concerned market. Replacing a worn-out, older part of the component in a vehicle seems to be one of the challenging issues for the vehicle user. Not only does it require the user to check for the availability of the part/component in the store/online, but it also needs selective decision-making in terms of alternatives and cost. This can make the process quite tedious and hectic.
In addition, the availability of fake, unauthorized, or duplicate parts in the automotive aftermarket further adds to the confusion. This is because such parts or components not only fail to match the performance of the original and genuine parts but can also affect the performance of the vehicle as well. Hence, it becomes very important to make sure that all aftermarket parts are genuine and original. The original and genuine automotive aftermarket parts are quality-made and adhere to the required standards and specifications as needed. In addition, they generally also come up with a limited warranty against defects or malfunctioning, which gives peace of mind to a buyer as well. Hence, the presence of such factors is expected to drive the growth of the automotive parts aftermarket in US during the forecast period.
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.
Moreover, the 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.
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.
However, 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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The passenger vehicles segment 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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The passenger vehicles segment was valued at USD 33.10 billion in 2018. 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.
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:
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.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Remanufactured Automotive Parts Market: Remanufactured Automotive Parts Market Vehicle Type, Component, and Geography - Forecast and Analysis
Auto Parts Market: Auto Parts Market Analysis North America,Europe,APAC,South America,Middle East and Africa - US,China,Japan,Germany,UK - Size and Forecast
India - Auto Component Market: India - Auto Component Market by Channel, Component, and Vehicle Type - Forecast and Analysis
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.
Moreover, the 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 e-commerce strategy. The adoption of online systems is transforming the way installers and logistics experts operate.
Furthermore, 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.
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Industry Scope |
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Report Coverage |
Details |
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Page number |
138 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.09% |
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Market growth 2024-2028 |
USD 35 billion |
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Market structure |
USD Fragmented |
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YoY growth 2023-2024(%) |
7.34 |
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Regional analysis |
US |
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Performing market contribution |
North America at 100% |
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Key countries |
US and North America |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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., Niterra 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 |
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Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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