Mexico Automotive After Market Size & Outlook, 2023-2030
Mexico automotive aftermarket market, 2017-2030 (US$M)
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Mexico automotive aftermarket market highlights
- The Mexico automotive aftermarket market generated a revenue of USD 9,975.2 million in 2023 and is expected to reach USD 14,598.6 million by 2030.
- The Mexico market is expected to grow at a CAGR of 5.6% 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.
Automotive aftermarket market data book summary
| Market revenue in 2023 | USD 9,975.2 million |
| Market revenue in 2030 | USD 14,598.6 million |
| Growth rate | 5.6% (CAGR from 2023 to 2030) |
| Largest segment | Tire |
| Fastest growing segment | Turbochargers |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Mexico accounted for 2.2% of the global automotive aftermarket market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. automotive aftermarket market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 14,598.6 million by 2030.
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Automotive Aftermarket Market Scope
Automotive Aftermarket Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico 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 20.94% in 2023. Horizon Databook has segmented the Mexico 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.
In Mexico, the number of motor vehicles in operation reached 47.8 million units in 2018, an increase of approximately 20% as compared to the number of vehicles in operation in 2015. The automotive fleet size has witnessed a significant increase in the country since the last decade owing to the rising urbanization and rising disposable income.
These factors are likely to boost the demand for aftermarket glass in automotive industry over the forecast period. According to the estimates of World Health Organization (WHO), fatalities from road traffic accidents reached 15,008 in 2017. Road traffic fatalities in Mexico was estimated to be 12.13 per 100,000 inhabitants in 2017, according to the estimates of WHO.
The high road traffic accident rate in the country, coupled with an increasing number of registered vehicles as compared to the U.S. and Canada, is projected to fuel the demand for aftermarket glass for automobiles significantly in the country over the coming years.
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Target buyers of Mexico 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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Mexico automotive aftermarket market , including forecasts for subscribers. This country databook contains high-level insights into Mexico automotive aftermarket market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Mexico automotive aftermarket size, by replacement part, 2017-2030 (US$M)
Mexico Automotive Aftermarket Market Outlook Share, 2023 & 2030 (US$M)
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