Published by mark itwired
Posted on September 28, 2021
4 min readLast updated: February 1, 2026
The APEJ automotive aftermarket is forecasted to reach US$ 254.5 Bn by 2031, driven by IOT services and electric vehicle proliferation.
Future Market Insights (FMI) sees impressive prospects for automotive aftermarket in APEJ. It has forecast the market to US$ 254.5 Bn by the end of 2031. Auto-components are subjected to abrasions and wear-outs by end use. Hence the need of repair and replacement of automotive components in existing vehicles has created an aftermarket system, consisting of multiple vendors providing the respective components. The type of vendors range from tier-1 multinational to small scale domestic vendors. Several factors such as expansion of the auto-components industry and the penetration of aftermarket services are anticipated to drive the APEJ automotive aftermarket during the forecast. FMI has projected sales of automotive parts to account for leading share of the market. According to the report, segment comprising parts will account for over 65% of the market in 2021.
The APEJ automotive aftermarket is expected to gain significantly from the advent of IOT enabled services. Since public transport will be reduced due to social distancing, demand for personal driving will surge. More miles driven indirectly will create opportunities for the aftermarket growth. Besides this, proliferation of electric vehicles will have positive impact on the market in the near future.
“The automotive aftermarket has been a profitable business since the last few years. Predictive maintenance programs and product performance monitoring have offered a value added proposition to the aftermarket products. Robust supply chain management has proven to be instrumental in establishing the business footprint for component manufacturers.”
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The APEJ automotive aftermarket is a highly competitive market exhibiting presence of global as well as regional players. Companies operating in the market are focusing on innovations, launches, and strategic collaborations to gain significant impetus.
For instance:
Some of the leading players operating in the market are Bosch, Denso Corporation, Continental AG and ZF.
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| Attribute | Details |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2016-2020 |
| Market Analysis | USD Million for value |
| Key Countries Covered | India, China, South Korea, ASEAN, Oceania and Rest of APEJ |
| Key Segments Covered | Category, Vehicle Type and Country |
| Key Companies Profiled | Bosch Denso Corporation Hella KGaA Hueck & Co. Continental AG Delphi Automotive PLC 3M Aisin Seiki Co., Ltd. Bridgestone Corporation ZF Friedrichshafen AG Mahle GmbH |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
China currently leads the APEJ Automotive aftermarket. Sales in China will be over 60% of total demand throughout the forecast period.
The tires segment is highly sought auto-part, witnessing high demand in the automotive aftermarket. The demand is expected to continue surging in the near future.
Some of the leading companies in the APEJ Automotive aftermarket are Bridgestone, Continental and Bosch.
The passenger vehicles type is driving sales of automotive aftermarket because they come at lesser cost than commercial vehicles. Increasing ownership of passenger vehicles as a result of increasing disposable income in APEJ, will aid in overall expansion of automotive aftermarket in the region.
The post APEJ Automotive Aftermarket: Things to Focus on to Ensure Long-term Success| Aisin Seiki Co., Ltd., Bridgestone Corporation, ZF Friedrichshafen AG, Mahle GmbH first appeared on Market Research Blog.
The main topic is the growth and trends in the APEJ automotive aftermarket up to 2031.
China is expected to hold a dominant 60.8% share in the APEJ automotive aftermarket.
The proliferation of electric vehicles is expected to positively impact the APEJ automotive aftermarket.
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