Latest News- Automotive Parts Aftermarket Market in US: Passenger vehicles is expected to lead the Type segment during 2025-2029

The Automotive Parts Aftermarket Market in US is being driven by Advantages and benefits of original OE replacement parts

The Automotive Parts Aftermarket Market in US is expected to grow at a CAGR of 8.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 41 billion. The automotive parts aftermarket in the US is undergoing significant transformation, with online sales channels gaining increasing prominence. E-commerce platforms are spearheading this trend, contributing significantly to the market's revenue growth. In recent years, online retail sales of automotive aftermarket parts have surpassed traditional brick-and-mortar sales due to the digitalization of the industry. The benefits of using e-commerce platforms, such as convenience, accessibility, and competitive pricing, are driving this shift. As a result, e-commerce is becoming the preferred choice for consumers and businesses alike, propelling the automotive parts aftermarket market in the US toward new heights. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Advantages and benefits of original OE replacement parts
• Growing average age of vehicles in US
• Growing passion for vehicle customization and growth in number of vendors

However, the market also witnesses some limitations, which are as follows:

• Relatively high cost of original and genuine OE replacement parts
• Online retailers challenging traditional aftermarket retailers in US
• Adoption of three-dimensional (3D) printing in manufacturing industry

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Market Scope in Automotive Parts Aftermarket Market in US Research Report

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Research Analysis Overview

The US Automotive Parts Aftermarket encompasses a wide range of products including replacement parts for cars, trucks, and SUVs, as well as original equipment manufacturer (OEM) parts, accessories, performance parts, car care products, filters, brakes, batteries, tires, wheels, lighting, exhaust systems, suspension, engine parts, automotive electronics, fluids, tools, and body parts. This market caters to both individual consumers and professional repair shops, providing solutions for routine maintenance and customization needs.

Market Research Overview

The Automotive Parts Aftermarket in the US is experiencing significant growth, driven by several key factors. Digitization and internationalization are major trends, with an increasing number of car owners seeking custom components, such as mufflers and resonators, through digitalized technologies. Automakers and service dealers are also embracing digital platforms, with e-commerce strategies and online systems streamlining the purchasing and installation process. Logistics experts are optimizing transportation networks to meet the demands of a global market, while fuel economy standards and CO2 emissions regulations drive innovation in production technologies, including turbochargers and 3D printing, robotics, and automation. Automotive vendors are consolidating to remain competitive, with distributors leveraging technological advancements to improve their offerings and better serve installers. Overall, the Automotive Parts Aftermarket Market in the US is poised for continued growth, driven by the intersection of digitalization, internationalization, and the evolving needs of the transportation industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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Email: media@technavio.com
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