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A 566 billion euro business expected by 2025 for the automotive aftermarket sector
Editorial staff
A study on sector forecasts in the main world markets admits that the Asian market will be a particularly promising one
Within the next seven years, the worldwide turnover of the automotive aftermarket will grow by 42.2%, rising from an estimated €398 billion in 2018 to an estimated €566 billion in 2025. This data comes from a study carried out by the Autopromotec Observatory on the basis of another study carried out by Stern Stewart and Qvartz.
The study provides data on the potential growth of the automotive aftermarket in the main world markets. In particular, in the period 2018-2025 growth will be higher in emerging automotive markets: first of all, Asia (+93%), which, with its estimated 166 billion by 2025 will certainly be the most promising market as it will account for 30% of the total global market. The Asian market will be followed by Eastern Europe (up 55.2%) followed by Africa and the Middle East (+40%). However, the development of the automotive aftermarket will also affect more mature markets: for example North America (+28.8%), followed by Western Europe (+20%) and South America (+15.9%). The study also shows that the aftermarket market will change not only in geographical size but also in content. Technological innovations such as connectivity, autonomous driving, on-board telematics, electrification and shared mobility will have a profound impact on the global industry in the coming years. All these changes will bring challenges and opportunities for growth for the players in the supply chain, from component manufacturers to distributors and workshops. To keep pace with such changes, the automotive after-sales sector needs to realize how to invest in digitization, cutting-edge equipment, expertise and specialized training.
The study provides data on the potential growth of the automotive aftermarket in the main world markets. In particular, in the period 2018-2025 growth will be higher in emerging automotive markets: first of all, Asia (+93%), which, with its estimated 166 billion by 2025 will certainly be the most promising market as it will account for 30% of the total global market. The Asian market will be followed by Eastern Europe (up 55.2%) followed by Africa and the Middle East (+40%). However, the development of the automotive aftermarket will also affect more mature markets: for example North America (+28.8%), followed by Western Europe (+20%) and South America (+15.9%). The study also shows that the aftermarket market will change not only in geographical size but also in content. Technological innovations such as connectivity, autonomous driving, on-board telematics, electrification and shared mobility will have a profound impact on the global industry in the coming years. All these changes will bring challenges and opportunities for growth for the players in the supply chain, from component manufacturers to distributors and workshops. To keep pace with such changes, the automotive after-sales sector needs to realize how to invest in digitization, cutting-edge equipment, expertise and specialized training.
