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Automotive Aftermarket Share, Trend & Growth Forecast to 2027

The global automotive aftermarket size will touch a valuation of over USD 800 billion by 2027. The growth can be attributed to the constant technological advancements in replacement parts in order to generate massive revenue gains. There is also an inclining need for holistic automotive solutions worldwide. On account of these factors, the automotive aftermarket from the replacement part product segment accounted for a significant remuneration in 2020 and is expected to record an 8% share in the analysis timeline.

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Automotive Aftermarket Share, Trend & Growth Forecast to 2027

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  1. Automotive Aftermarket 2021-2027 | Regional Trends, Growth Forecast & Industry Share Report

  2. Industry Insights: • The automotive aftermarket will witness significant expansion driven by the higher deployment of digital platforms across a wide range of distribution channels. The rising preference for automobiles, mainly across the developing economies has ramped up the number of innovations in the automotive sector. This has in turn paved the path for the rise in automotive sales. According to estimates, the annual automotive sales in the U.S. crossed 9,615,374 units in 2021. In addition, the incessant requirement for innovative repair solutions will influence the market growth. • The growth can be attributed to the constant technological advancements in replacement parts in order to generate massive revenue gains. There is also an inclining need for holistic automotive solutions worldwide. On account of these factors, the automotive aftermarket from the replacement part product segment accounted for a significant remuneration in 2020 and is expected to record an 8% share in the analysis timeline.

  3. Demand for automotive aftermarket parts across OEM factory fills is anticipated to register more than USD 60 billion through 2027. This is mainly attributable to the increasing requirement for high-quality factory fill lubricants. • Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/1166 • The COVID-19 pandemic, which brought ructions to numerous industries, hampered the overall automotive sector with regard to demand and supply. This business vertical saw a halt in manufacturing worldwide, adding to more roadblocks to the aftermarket product demand. The shuttering of the production activities at the original equipment manufacturers also hampered the entire value chain. Taking note of this, the sales of passenger cars plummeted to around 60.5 million units during 2020, from a peak sale value of about 70 million units in 2017.

  4. Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-aftermarket Data Tables TABLE 1. Automotive aftermarket industry 3600 synopsis, 2017 – 2027 TABLE 2. Automotive aftermarket revenue, 2017 - 2020, (USD Billion) TABLE 3. Automotive aftermarket revenue, 2021 - 2027, (USD Billion) TABLE 4. Automotive aftermarket revenue by product, 2017 - 2020 (USD Billion)

  5. TABLE 5. Automotive aftermarket revenue by product, 2021 - 2027 (USD Billion) TABLE 6. Automotive aftermarket revenue by sales outlet, 2017 – 2020 (USD Billion) TABLE 7. Automotive aftermarket revenue by sales outlet, 2021 - 2027 (USD Billion) TABLE 8. Automotive aftermarket revenue by region, 2017 - 2020 (USD Billion) TABLE 9. Automotive aftermarket revenue by region, 2021 - 2027 (USD Billion) TABLE 10. Vendor matrix

  6. Region: • Europe houses some of the major automotive manufacturers in the world and thus regional market held close to 30% of the global automotive aftermarket share in 2020. The large automotive production rate in the continent is another factor driving the market expansion. It has been estimated that the region accounts for around 7% of the European Union GDP.

  7. Key Players • 3M • Robert Bosch GmbH • Denso Corporation • Continental AG • Hyundai MobisCo.Ltd. • ACDelco • Lear Corporation

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