Europe Automotive After Market Size & Outlook, 2023-2030
Europe automotive aftermarket market, 2017-2030 (US$M)
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Europe automotive aftermarket market highlights
- The Europe automotive aftermarket market generated a revenue of USD 94,237.6 million in 2023.
- The market is expected to grow at a CAGR of 2.3% from 2024 to 2030.
- In terms of segment, tire was the largest revenue generating replacement part in 2023.
- Turbochargers is the most lucrative replacement part segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 94,237.6 million |
| Market revenue in 2030 | USD 110,289.5 million |
| Growth rate | 2.3% (CAGR from 2023 to 2030) |
| Largest segment | Tire |
| Fastest growing segment | Turbochargers |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Tire, Battery, Brake Parts, Filters, Body parts, Lighting & Electronic components, Wheels, Exhaust components, Turbochargers |
| Key market players worldwide | 3M Co, Continental AG, Goodyear Tire & Rubber Co, Denso Corp, HELLA GmbH & Co KGaA, Robert Bosch Engineering & Business Solutions, Valeo SA |
Other key industry trends
- In terms of revenue, Europe region accounted for 21.0% of the global automotive aftermarket market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 185,505.5 million by 2030.
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Automotive Aftermarket Market Scope
Automotive Aftermarket Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe automotive aftermarket market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automotive aftermarket market will help companies and investors design strategic landscapes.
Tire was the largest segment with a revenue share of 22.75% in 2023. Horizon Databook has segmented the Europe automotive aftermarket market based on tire, battery, brake parts, filters, body parts, lighting & electronic components, wheels, exhaust components, turbochargers covering the revenue growth of each sub-segment from 2017 to 2030.
The Europe demand for aftermarket automotive glass is projected to grow mainly on account of rising demand for aftermarket glass from Eastern Europe. The automotive glass aftermarket in Western Europe is relatively flat as compared to that in Eastern Europe.
Moreover, changing car ownership model, with a transition from private car ownership to fleet ownership, is projected to play a major in shaping the dynamics of the market in Europe.
According to the European Automobile Manufacturers’ Association, there were roughly 308.3 million vehicles in circulation on the roads of the European Union in 2018. Such a large vehicle fleet size coupled with moderate road traffic accident rates in the region is expected to drive the aftermarket of automotive glass in the region over the coming years.
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Target buyers of Europe automotive aftermarket market databook
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Our clientele includes a mix of automotive aftermarket market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe automotive aftermarket market , including forecasts for subscribers. This continent databook contains high-level insights into Europe automotive aftermarket market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Europe automotive aftermarket size, by country, 2017-2030 (US$M)
Europe Automotive Aftermarket Market Outlook Share, 2023 & 2030 (US$M)
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