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(I-AutoNewsWire.com, October 09, 2018 ) According to a new research published by Polaris Market Research the worldwide Automotive Aftermarket market is anticipated to reach USD 519.2 billion by 2026. In 2017, the tire segment dominated the global market, in terms of revenue. In 2017, North America accounted for the majority share in the global market.
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Top Key Players In Global Market-
• Royal Dutch Shell PLC • Denso Corporation • Johnsons Controls Inc. • Exide Technologies, Inc. • 3M Company • Delphi Automotive PLC • Magneti Marelli S.p.A
The expanding global automotive industry, along with increasing average age of vehicles majorly drives the market growth. Consumers are increasingly becoming aware of proper maintenance and repair of vehicles, which supports market growth. Other factors driving market growth include greater need for long distance travel, technological advancements in telematics technologies, and changing lifestyles. New emerging markets, emerging consumer demographics, and sale through online channels would provide growth opportunities for automotive aftermarket market in the coming years.
The automotive aftermarket market is highly competitive. Vendors offer products and services required for repair and maintenance for wide range of cars, trucks, vans, and buses. Consumers consider factors such as quality, price, convenience, and vehicle age before making informed decisions about repair and maintenance offered by market players.
Established industries, technological advancements, and high investment in R&D are factors expected to drive the market growth in the region. Asia-pacific is expected to grow at the highest CAGR during the forecast period. This is due to economic growth in countries such as China and India, leading to rising living standards and high disposable income. Expansion of global players into these countries to tap market potential boosts the market growth. Favorable regulations for production of automotive aftermarket components, and poor road infrastructure in developing countries such as India, and Pakistan are expected to augment market growth during the forecast period.
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The various types of automotive aftermarket products include tire, wheels, battery, lighting, exhaust components, body parts, accessories, telematics, and others. The tire segment is expected to lead the market during the forecast period. Tires are easily damaged by external factors and need to be replaced periodically. There has been an increasing demand of radial tires owing to low rolling resistance, higher durability, and enhanced service.
The well-known companies profiled in the report include Royal Dutch Shell PLC, Denso Corporation, Johnsons Controls Inc., Exide Technologies, Inc., 3M Company, Delphi Automotive PLC, Magneti Marelli S.p.A, Goodyear Tire & Rubber Company, Robert Bosch GmbH, Cooper Tire & Rubber Company among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Some points from TOC: -
• Automotive Aftermarket Market Insights
1. Automotive Aftermarket – Industry snapshot 2. Automotive Aftermarket - Ecosystem analysis 3. Automotive Aftermarket Market Dynamics 1. Automotive Aftermarket – Market Forces 1. Automotive Aftermarket r Market Driver Analysis 2. Automotive Aftermarket Market Restraint/Challenges analysis 3. Automotive Aftermarket Market Opportunity Analysis 2. Industry analysis - Porter's five force 1. Bargaining power of supplier 2. Bargaining power of buyer 3. Threat of substitute 4. Threat of new entrant 5. Degree of competition 3. Automotive Aftermarket Market PEST Analysis, 2017 4. Automotive Aftermarket Market Value Chain Analysis 5. Automotive Aftermarket Industry Trends 6. Competitive Ranking Analysis
Browse Full Research Report with in-depth TOC @ https://www.polarismarketresearch.com/industry-analysis/automotive-aftermarket-market/
About us Polaris Market Research
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.
We mainly focus on aiding our customers with substantial competitive intelligence, helping them to secure a competitive advantage in the market and accomplish sustainable growth in different market domains. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers. Through dedicated qualitative and quantitative primary and secondary market research and consulting assignments, we adeptly formulate competitive strategies to address business challenges for our clients through analyzing market trends and emerging technologies.
Contact us-
Mr. Neel Corporate Sales, USA Polaris Market Research Phone: 1-646-568-9980 Email: neel@polarismarketresearch.com
Polaris Market Research
Neel
+1-646-568-9980
neel@polarismarketresearch.com
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