Automotive Aftermarket Developments and Forecasts

The automotive aftermarket’s light-vehicle segment has been the most resilient to recession in general. Its size is dependent on the size and number of new vehicles sold. People tend to defer buying new cars as they feel more pressured by the economy, so repairs on older vehicles are becoming more important. This will impact the demand of automotive parts and service. The following article examines the latest developments, forecasts, and predictions for the automotive aftermarket. If you have almost any queries about wherever as well as how to utilize Mazda Car Mats, you can e-mail us with click the next page internet site.

With the introduction of digital channels, the automotive aftermarket is changing rapidly. Digital channels have changed the way that consumers purchase and service cars. This offers new opportunities to service providers and manufacturers to communicate with consumers. Autodata provides a comprehensive overview of the U.S. aftermarket industry and best-in class consumer data. To help drive this transformation, we offer an overview of the U.S. automotive aftermarket market.

Automotive Aftermarket Developments and Forecasts 3

The average age of U.S.-fleet vehicles has been steadily rising; it reached 11.7 years in 2019. This trend has led to an increase in the demand for aftermarket parts. The chances of component failure increasing with age has also increased. This means that OEM parts cost upwards of $100,000, which means that the aftermarket is expanding at an astounding rate. The industry faces some challenges. This industry must grow its product portfolio and expand internationally to succeed in the new environment.

The automotive industry’s key driver is the expansion of click the next page aftermarket. Growth is driven by increasing consumer demand for scheduled maintenance, repair, and an increase in vehicle accidents. Both retailers and manufacturers are benefiting from digitalization, which is increasing the aftermarket market. The increased competition and technological advancements are driving growth in the aftermarket. So how can this market expand? With an increasing emphasis on consumer expectations and growing demand, the industry has many opportunities for growth.

Both AAPEX & SEMA Show are the premier events in the automotive aftermarket sector. SEMA connects people and companies around the world. Over 2,400 companies exhibit the latest products and tools in performance, styling, comfort, and convenience. The SEMA Show includes powersports, off-road performance, and tools to work on vehicles. And with the SEMA Show in Chicago, there is no shortage of opportunities. You can find a job, internship, or career at this event.

Automotive aftermarket is becoming more complex. Parts are distributed through multiple channels, from manufacturers to retailers. The traditional distribution channel, which includes warehouse distributors and retail stores, accounts for about 80% of click the next page automotive aftermarket. But, the internet has opened up new sales channels. Manufacturers are also selling directly to consumers, bypassing traditional distribution channels. This is one reason why so much business is concentrated on the automotive aftermarket.

This market is growing because of the increasing demand for automotive parts in emerging countries such as China and India. The region is seeing a rise in demand for electric vehicles and other energy-efficient vehicles, which is driving product entry. In Japan and South Korea, there is a growing demand for Bluetooth-equipped smartphones as well as other electronic devices. This will drive growth in the automotive aftermarket. As a result, there will be a strong automotive aftermarket. To meet consumer needs, many key players are increasing their presence in emerging markets.

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