Latin America Automotive After Market Size & Outlook
Latin America automotive aftermarket market, 2017-2030 (US$M)
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Latin America automotive aftermarket market highlights
- The Latin America automotive aftermarket market generated a revenue of USD 65,008.7 million in 2023.
- The market is expected to grow at a CAGR of 4.9% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 65,008.7 million |
| Market revenue in 2030 | USD 91,028.9 million |
| Growth rate | 4.9% (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, Latin America region accounted for 14.5% 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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Latin America 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 21.15% in 2023. Horizon Databook has segmented the Latin America 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.
Central & South America automotive glass aftermarket is predicted to witness the slowest growth compared to other regions as the region is yet to experience full economic recovery.
After the economic recession of 2016, in countries such as Brazil and Argentina, the economy of the region, as of 2018, is predicted to witness sluggish growth in 2019. In addition, the region is yet to enter into a phase of rapid economic growth similar to that of 2010.
The slow growth rate of the region’s economy indicates weaker growth in per capita purchasing power and weaker consumer confidence in terms of consumption. This has resulted in negatively influencing the demand for aftermarket automotive glass over the coming years.
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Target buyers of Latin America 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 Latin America automotive aftermarket market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America automotive aftermarket market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America automotive aftermarket size, by country, 2017-2030 (US$M)
Latin America Automotive Aftermarket Market Outlook Share, 2023 & 2030 (US$M)
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