Automotive Aftermarket

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Global Automotive Aftermarket refers to the secondary market concerned with all parts, accessories, chemicals, equipment, and services used for the maintenance, repair, and customization of vehicles after their initial sale by the Original Equipment Manufacturer (OEM). It is a vast and non-discretionary market driven by the need to keep the global fleet of vehicles (the “Vehicle in Operation” or VIO) running.

Global Automotive Aftermarket is poised for steady expansion. The market size was valued at approximately USD 448 billion in 2024 and is projected to reach around USD 610-633 billion by 2033. This growth corresponds to a Compound Annual Growth Rate (CAGR) in the range of 3.4% to 4.1% during the 2026–2033 forecast period. Key drivers include the aging vehicle fleet, the continued shift to online parts sales, and a stable demand for routine maintenance and repair services. The Asia-Pacific region is often cited as a leading market, driven by increasing vehicle ownership and developing maintenance infrastructure.

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