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Advanced Technological Features Likley to Support the US Automotive Aftermarket

Date: 28th May 2021 | Category: Consumer & Retail

The U.S. automotive aftermarket is expected to record a value of US$448.9 billion in 2025, growing at a CAGR of 3.08%, for the duration spanning 2021-2025. The factors such as growth in automotive production, upsurge in used car sales, rising number of smartphone users, acceleration in electric vehicle sales and rapid urbanization would drive the growth of the market. However, the market growth would be challenged by expansion of ride-sharing services and rise in aftermarket fraudulent. A few notable trends may include growth in average age of vehicles, expansion of automotive dealer on online platforms and launch of new & advanced car accessories. 

The automotive aftermarket in the U.S. is growing enormously, due to the presence of well established automotive industry. The aftermarket in the automotive industry is comprised of the auto services and parts businesses. Favourable government policies, regulations, and subsidies in the U.S. are driving the demand for electric vehicles, leading to the increasing use of lightweight auto parts in the EV production to increase efficiency, which is likely to support the growth of the U.S. automotive aftermarket in coming years. 

The COVID-19 pandemic has created havoc in the automotive industry as companies were forced to shut down and business operation were halted, in order to curb the spread of the virus. Manufacturing facilities witnessed sudden closure for a particular period. However, with the upliftment of lockdown, automotive companies would start to function normally and would cope with supply chain disruption, which is likely to stabilize the automotive aftermarket in the U.S. 

Scope of the report:

The report provides a comprehensive analysis of the U.S. automotive aftermarket.

The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

The competitive landscape of the market, along with the company profiles of leading players (3M Company, Lear Corporation, AutoZone, O'Reilly Auto Parts, Advance Auto Parts and Cooper Tire & Rubber Company) are also presented in detail.

Key Target Audience:

Auto Parts & Components Manufacturers

Auto Service Providers 

Raw Material Suppliers

End Users (Automotive Industry, Ecommerce Industry, Business Entities and Consumers)

Investment Banks

Government Bodies & Regulating Authorities