Automotive Aftermarket Industry to Record CAGR of 3.6% Over 2025-2032; Aging of Vehicles and Increasing Vehicle Ownership Drives Market Growth

The global automotive aftermarket industry size was valued at USD 430.51 billion in 2024. The market is projected to grow from USD 443.12 billion in 2025 to USD 565.73 billion by 2032, exhibiting a CAGR of 3.6% during the forecast period.

Fortune Business Insights™ presents this information in its latest report titled “Automotive Aftermarket Industry Size, Share & Industry Analysis, By Replacement Part Type (Battery, Brake Pads, Filters, Gasket & Seals, Lighting Component, Body Part(Interior and Exterior), Wheels & Tires, and Others), By Vehicle Type (Passenger Cars and Commercial Vehicles), and Regional Forecast, 2025 – 2032”.

The automotive aftermarket industry refers to the market that fulfills the needs and preferences of vehicle owners by providing products beyond those offered by OEMs. This industry encompasses a broad spectrum of offerings, including replacement parts, components to improve performance, accessories, and services such as vehicle maintenance and repair. The key driver propelling the growth of the global market is the rising average age of vehicles, which enhances the demand for compatible car parts, particularly for electric vehicle (EVs).

Lumax Auto Technologies’s Aftermarket Division Partners with Bluechem Group to Develop Car Care Products 

In February 2024, Lumax Auto Technologies’s aftermarket division teamed up with the Bluechem Group, a company based in Germany, to develop car care products. Through this partnership, the company is set to offer domestic customers a variety of products designed for cleaning, servicing, and maintaining vehicles across different segments.

Aging of Vehicles and Increasing Vehicle Ownership Drives Market Growth

The market is undergoing notable growth driven by the aging vehicle population. Old vehicles demand more frequent maintenance, repairs, and replacement of components due to wear and tear, which is anticipated to support the automotive aftermarket industry growth. Additionally, the rising rate of vehicle ownership and the growing tendency among vehicles to keep their vehicles for more extended periods are further driving the market growth.

However, rapid advancements and increasing complexity in vehicle technology have resulted in a significant challenge for market growth.

Market Leadership Driven by Innovation in Vehicle Components

Robert Bosch GmbH, ZF Friedrichshafen AG, and Continental AG are among the top companies projected to dominate the automotive aftermarket industry share in 2024. These companies are actively working to deliver vehicle components tailored to next-generation models while also fulfilling the needs of the traditional vehicle industry.

Notable Industry Development

• November 2024: AISIN unveiled plans to establish a new company focused on the aftermarket sector. This new company will result from the merger of AWTEC, an AISIN subsidiary that specializes in transmission remanufacturing, with the aftermarket division of AISIN World Corp. of America (AWA). The newly formed company will strengthen and expand AISIN’s existing product portfolio, which includes cooling systems, powertrain products, steering and suspension, chemicals, and fluids.

List of Key Companies Profiled in the Report

• Robert Bosch GmbH (Germany)


• Denso Corporation (Japan)


• Magna International Inc. (Canada)


• Continental AG (Germany)


• ZF Friedrichshafen AG (Germany)


• Aisin Seiki Co. (Japan)


• Lear Corp. (U.S.)


• Bridgestone Corporation (Japan)


• Faurecia (France)


• Valeo SA (France)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/automotive-af

Further Report Findings:

• The North American region secured the highest share of the automotive aftermarket in 2024. The region’s growth can be attributed to consumers' growing interest in vehicle customization and personalization, which is propelling demand for aftermarket products.


• The European region accounted for a major automotive aftermarket industry share in 2024. The region's growth is supported by the high number of vehicles in operation, which has led to an increased proportion of aging vehicles. This factor is likely to support the growth of the global market.


• In terms of vehicle type, the passenger car segment obtained a significant share of the global automotive aftermarket industry in 2024. Rapid urbanization has increased dependence on passenger cars for daily transportation, resulting in greater wear and tear on vehicle components and a subsequent need for repairs and replacements. This factor, along with the rise in vehicle ownership, is supporting the market growth for automotive aftermarket.

Table of Segmentation