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 advantages of e-commerce, such as convenience, competitive pricing, and a vast selection of parts, are driving this shift. Consequently, the US automotive parts aftermarket market is experiencing robust growth through online sales channels. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Passenger vehicles
  • Commercial vehicles
• Distribution Channel
  • Offline
  • Online
• Service Channel
  • Independent Repair Shops
  • Dealership Service Centers
  • DIY (Do It Yourself)
  • Independent Repair Shops
  • Dealership Service Centers
  • DIY (Do It Yourself)
• Product
  • Engine and Exhaust Components
  • Transmission and Drivetrain Parts
  • Electrical and Electronic Components
  • Brake Parts and Suspension Components
  • Other Parts
  • Engine and Exhaust Components
  • Transmission and Drivetrain Parts
  • Electrical and Electronic Components
  • Brake Parts and Suspension Components
  • Other Parts
• Geography
  • US

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 Automotive Parts Aftermarket in the US encompasses various segments including parts sourcing, wholesale distribution, retail sales, and consumer behavior. It covers automotive technology and vehicle systems such as engine components, braking systems, electrical systems, body parts, interior parts, and exterior parts. Tire sales, battery sales, oil changes, and vehicle recalls are also part of this market. Customer service, parts installation, mechanic training, shop equipment, and equipment maintenance are essential services provided. Warranty processing, payment processing, fraud prevention, risk management, efficiency improvements, and customer satisfaction are key aspects ensuring brand loyalty and market growth.

Market Research Overview

The automotive parts aftermarket in the US encompasses businesses involved in the production and distribution of replacement parts and equipment for various vehicle types, including passenger cars, electric vehicles, commercial vehicles, heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. The market size is determined by the consolidated revenue generated by manufacturers of these components and equipment. Key growth drivers include the rising demand for electronic components in automobiles, such as electronic control units (ECUs) and other electrical components, due to the increasing sales of electric vehicles, motorcycles, and passenger cars over the past decade. Additionally, the importance of efficient parts logistics and supply chain management in ensuring timely vehicle maintenance and repair further bolsters market growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/