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Global Automotive Aftermarket Demand Expected to Increase by 4.2% During 2019; China and India Expected to Offset the Slowdown in Developed Markets
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The global automotive aftermarket revenues will rise during 2019, buoyed by the growth in developing markets, unravelling new opportunities for passenger car and light truck parts and service providers, especially in the emerging markets. This research compiles findings from various deliverable published by Frost & Sullivan Mobility Team over the past two years. While the report includes key highlights of the Global Automotive Aftermarket during 2018, it also covers 2019 outlook in North America, Europe, China, India, and Latin America. The research includes analyses of vehicles in operation, vehicle ownership patterns, and aftermarket replacement revenues for top part categories. The report also highlights impact of sales in 2018 on the total model mix across regions, trends in eRetailing and also impact of data monetization on the automotive aftermarket. Regional aftermarket opportunities are also highlighted. Analysis includes identification of influencers and opportunities related to the automotive aftermarket in each region under scope. It includes analysis of Mega Trends impacting the global automotive aftermarket, with a specific focus on Digitization and Telematics in the aftermarket ecosystem – emergence of data monetization avenues and its implications on the aftermarket. Smart contracts and impact of blockchain find key mentions. Specific conclusions and an outlook are also presented for each region, along with identifying strategic imperatives for different market participants, keeping the outlook at the forefront.Key Trends covered in the 2019 Aftermarket Outlook:• ADAS Sensors & Recalibration Demand• Data Monetization Gains Traction in Repair Management• Shared Mobility Servicing• Impact of Blockchain• Voice StrategyThe research report also sheds light upon expansion of private labels in the eCommerce spectrum, growth of SUVs and trucks in recent past, impact of trade barriers on aftermarket growth, digitization in vehicle services, and impact of annual miles driven on the parts demand among othersThe scope of the research deliverable is global research on automotive aftermarket for the years 2018 and 2019 for the passenger vehicle segment
Key Issues Addressed
Author: Anuj Monga
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