European Automotive Aftermarket size is projected to reach USD 230 billion by 2027, according to a latest forecast report by Graphical Research. Rising consumer awareness of product pricing coupled with the increasing average lifecycle of vehicles will propel the requirement for aftermarket products.
In 2019, the total automotive vehicles in use reached 1.6 billion units of which around 28% market share was held by Europe. The region shows a significant demand for the aftermarket products owing to the presence of large automotive fleets. Moreover, the presence of a well-established automotive manufacturing industry in Germany, France, and the UK is likely to drive the demand for aftermarket products.
The rising demand for automotive filters owing to their benefits, such as enhancement in engine performance and lower carbon emissions, will support industry growth. Major components of the filter are cabin air filters, fuel filters, air intake filters, and oil filters. The usage of air filters in buses and their appropriate maintenance reduce the annual fuel cost by about USD 900 per bus. Consistent maintenance of fuel filters and standby of old filters with new filters are encouraged by automotive component manufacturers after every 35,000 to 45,000 kilometers. The above factors will lead to an awareness among customers on the appropriate replacement of fuel, cabin air filter & oil filter to increase engine performance and vehicle distance.
Browse detailed statistical insights from the report, “Europe Automotive Aftermarket Forecast 2027 By Product (Replacement Parts [Belt, Brakes, Clutch, Electrical Parts, Lighting, Engine & AC Parts, Exhaust, Filters, Suspensions, Transmission, Wiper Parts, Others], Accessories [Car Exteriors, Car Interiors]), By Sales Outlet (Professional [Quick Lubes, Garages & Service Stations, Automobile Dealerships, Government, Commercial Fleets & Other Professional Outlets), DIY [Discount Department Stores, Auto Parts Stores], OEM Factory Fill), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Due to COVID-19 Europe industry has witnessed a substantial drop in its revenue compared to the previous year. It can be ascribed to the restrictions on international travels & trades and restrictions imposed on the mobility of people to control the pandemic outburst.
The accessories segment hold over 13% market share in 2020. Car interior accessories include floor carpet, hardwood floor, tibia pad, headliner, door trim, door opening trim, assist trim, seat fabric, luggage trim, rear shelf, etc. Exterior accessories consist of hood silencer, bumper core, mudguard, fender liner, protective paints & coatings, etc. The increasing popularity of vehicle customization, rising inclination toward enhanced driving experience, and growing focus toward better aesthetic appeal & convenience will trigger the market growth.
The wiper parts segment is expected to grow at a CAGR of 2.4% between 2021to 2027 owing to the increasing trends of light & quiet wiper systems are expected to drive the segment growth over the forecast period. In addition, the rising consumer preference for integrated & reversible wiper systems is likely to propel the overall industry size.
The European automotive aftermarket research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD Million from 2016 to 2027 for the following segments
Europe Market, By Product
- Replacement parts
- Electrical parts
- Engine & AC parts
- Wiper parts
- Car exteriors
- Car interiors
Europe Market, By Sales Outlet
- Quick lubes
- Garages & service stations
- Automobile dealerships
- Commercial fleets & other professional outlets
- Discount department stores
- Auto parts stores
- OEM factory fill
The above information has been provided for the following countries:
- Rest of Europe