Global Automotive After Market Size & Outlook, 2023-2030
Global automotive aftermarket market, 2017-2030 (US$M)
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Global automotive aftermarket market highlights
- The global automotive aftermarket market generated a revenue of USD 448,242.7 million in 2023 and is expected to reach USD 589,011.4 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 4% by 2030.
- In terms of segment, tire accounted for a revenue of USD 100,259.0 million in 2023.
- Turbochargers is the most lucrative replacement part segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Germany is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 448,242.7 million |
| Market revenue in 2030 | USD 589,011.4 million |
| Growth rate | 4% (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 |
Other key industry trends
- In terms of revenue, the North America accounted for 23.4% of the global automotive aftermarket market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Germany is the fastest growing regional market and is projected to reach USD 24,796.1 million by 2030.
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Automotive Aftermarket Market Scope
Automotive Aftermarket Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global 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 22.37% in 2023. Horizon Databook has segmented the Global 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.
Automotive industry has been witnessing significant technological innovations for the past many years. Despite the decline in the overall production of vehicles in 2018 and the first half of 2019, the demand for automotive aftermarket glass is anticipated to prevail over the forecast period due to increasing production of commercial vehicles.
Rising production of commercial vehicles represents a growth opportunity for automotive aftermarket glass market in the long term. This can be attributed to the fact that automotive glass needs to be replaced after a certain prolonged period of time since the quality and visibility of automotive glass decreases with time.
The below charts depict the production of light commercial vehicles in different regions between 2015 and 2019. Increasing global production of light commercial and heavy commercial vehicles means rising vehicle fleet size in operation around the world. Increasing vehicle fleet size indicates wider consumer base for aftermarket automotive glass.
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Target buyers of Global 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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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 global-level data and insights on the Global automotive aftermarket market , including forecasts for subscribers. This global databook contains high-level insights into Global automotive aftermarket market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Global automotive aftermarket size, by regions, 2017-2030 (US$M)
Top 10 countries: Automotive aftermarket size, 2023 (US$M)
Global automotive aftermarket share, by replacement part, 2023 & 2030 (%, US$M)
Automotive aftermarket market: Opportunity assessment by country
Global automotive aftermarket market, by region, 2023 (US$M)
| Replacement Part | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 80,288.1 | 82,860.1 | 91,572.8 | 93,600.4 | 97,183.9 | 100,837.0 | 104,827.5 | 108,726.4 | 112,524.5 | 116,213.4 | 119,785.7 | 121,667.6 | 124,909.4 | 127,509.6 | 2.8% |
| Europe | 74,772.9 | 76,415.3 | 83,626.4 | 85,142.8 | 88,055.7 | 91,007.3 | 94,237.6 | 97,359.3 | 100,365.1 | 103,248.7 | 106,005.1 | 106,415.4 | 108,782.0 | 110,289.5 | 2.3% |
| Asia Pacific | 82,275.1 | 90,063.5 | 105,573.6 | 109,412.3 | 115,181.3 | 121,790.1 | 129,024.2 | 136,375.2 | 143,830.7 | 151,378.7 | 159,007.6 | 169,104.6 | 176,902.4 | 185,505.5 | 5.3% |
| Latin America | 42,502.9 | 45,690.8 | 52,597.6 | 54,923.0 | 58,256.8 | 61,481.5 | 65,008.7 | 68,580.8 | 72,191.6 | 75,456.4 | 78,973.8 | 83,739.6 | 87,163.9 | 91,028.9 | 4.9% |
| MEA | 38,185.9 | 40,200.3 | 45,029.6 | 47,021.5 | 49,835.1 | 52,392.6 | 55,144.7 | 57,865.1 | 60,542.3 | 63,543.3 | 66,253.2 | 69,043.9 | 71,885.8 | 74,677.9 | 4.4% |
| Overall | 318,024.9 | 335,230.0 | 378,400.0 | 390,100.0 | 408,512.7 | 427,508.5 | 448,242.7 | 468,906.8 | 489,454.1 | 509,840.5 | 530,025.4 | 549,971.2 | 569,643.5 | 589,011.4 | 4.0% |
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