Published by Persistence MarketResearch
Posted on October 11, 2021
4 min readLast updated: January 29, 2026
The automotive parts aftermarket is set to grow at a 5.4% CAGR through 2031, driven by maintenance needs and strict emission standards.
The global automotive parts aftermarket is projected to progress at a CAGR of 5.4% over the forecast period of 2021-2031, as per latest analysis by Persistence Market Research.
Demand for automotive parts in the aftermarket is being aided by increased maintenance and repair activities carried out by vehicle owners because stock vehicle parts suffer wear and tear over a period of time. Air filters, fuel filters, and spark plugs, as well as brake pads, are more likely to be replaced at regular intervals.
Governments all over the world have enacted strict car emission standards that require product manufacturers to provide ecologically sustainable and high-performing parts for both, local and international markets, which is expected to drive demand of automotive parts. The automobile parts industry has seen significant expansion in recent years, with rising economies such as China, India, and Brazil expected to drive worldwide market growth.
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Market players are rapidly innovating and bring in new, advanced parts into the aftermarket:
Key Takeaways from Market Study
“Incentives from governments, rising local demand, and readily available raw materials are expected to be key drivers for the development of the automotive sector, which is anticipated to drive demand for automotive parts in the aftermarket,” says a Persistence Market Research analyst.
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Market Landscape Identified to Be Fairly Competitive
On a regional, national, and global basis, the worldwide automotive parts aftermarket is highly competitive and fragmented.
Some of the key players included in the report are Robert Bosch GmbH, ZF Friedrichshafen AG, Hella KGaA Hueck & Co., NGK Spark Plug, Exide Technologies, Gabriel India Limited, Hitachi Astemo, Ltd., KYB Corporation, Tenneco, Inc., Denso Corporation, Magna International, Continental AG, Valeo SA, Bridgestone, Michelin, Goodyear, Pirelli, Mahle GmbH, BorgWarner, OSRAM Licht AG, Knorr-Bremse, and Aisin Corporation.
Conclusion
The automotive parts aftermarket is characterized by the presence of a few key players from North America, Europe, and China. Growing demand for passenger cars and commercial vehicles equipped with advanced technologies such as clean mobility, around the globe, is expected to propel demand for technologically advanced products over the coming years.
Technological developments along with collaborations & mergers and acquisitions by key market participants are expected to fuel sales of automotive parts in the aftermarket industry.
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The post Automotive Parts Aftermarket Unit Sales to Witness Significant Growth in the Near Future appeared first on Lake Shore Gazette.
The article discusses the projected growth of the automotive parts aftermarket, highlighting key trends and market dynamics.
Electrical parts are projected to be the fastest-growing product segment with a 6.7% CAGR through 2031.
Europe is projected to have the highest share in the global market, accounting for more than 34% by 2031.
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