The Germany automotive aftermarket size is expected to
reach USD 23.4 billion by 2025, registering a 1.1% CAGR from 2019 to 2025,
according to a new study by Grand View Research, Inc. The market is expected to
be driven by technological advancements, shift in competitive power with the rise
of new players, and evolving customer expectations.
Germany is among the most prominent
automotive vehicle manufacturer countries and reports the most significant
demand and sales for automobiles. Moreover, vehicle parc has witnessed
substantial growth in the last few years owing to surging vehicle sales.
Significant vehicle parc has led to increased replacement of various automotive
parts, which will translate to high growth opportunities for the market.
Furthermore, online retail tailored services and innovative business models
will support the growth of aftermarket parts over the forecast period. Most
market players in the value chain, from OEMs and OESs to wholesalers,
workshops, and insurers, are looking to benefit from online automotive parts
sales, which is further estimated to give the market a boost.
Another fact supporting online
automotive parts sales is that 70% of the people residing in Germany have
regular internet access. Online aftermarket channels have grown at a faster
pace in the country and this is expected to provide lucrative opportunities for
accessories and spare parts providers. Some spare parts wholesalers have also
developed online concepts, which is based on online shops as well as offering
via third-party retail providers. This is expected to benefit market growth in
the coming years.
There has been a significant ongoing
revolution in the aftermarket, specifically in the sales and distribution
channel segments. Small players have to fulfill customer requirements in order
to keep up with the competitive pace of top players. This requires electronic
tools with specialization in basic service models in order to retain or
strengthen their position in the market. Automotive centers, franchise
operations, and fast fitters are emerging as a prominent service chain in the
market for certified part sales. This trend is influenced by the sales of the
independent market and substantial rise in do-it-for me (DIFM) and
do-it-yourself (DIY) customers.
Browse full research report on Germany Automotive Aftermarket: https://www.grandviewresearch.com/industry-analysis/germany-automotive-aftermarket
Further key findings from the report suggest:
- In terms of replacement part, the wheels segment is estimated
to gain high traction in the market. Rising performance of wheels with
aluminum and magnesium materials has fueled the adoption of the same
- By distribution channel, retailers accounted for the dominant
market share in 2018. However, growth in the segment is expected to be
rather slow, allowing wholesalers and distributers to overtake its lead
position by 2025
- While original equipment manufacturers held the lead in 2018,
in terms of sales channel, the DIY and DIFM segments are anticipated to
register significant traction over the coming years, owing to the
sustainable growth of e-commerce
- Based on certification, the genuine parts segment is expected
to retain the lead position over the forecast period. Certified parts will
register the fastest growth through 2025
- Key participants in the Germany automotive aftermarket
include namely 3M, Continental AG, Delphi Automotive PLC, Denso
Corporation, and Federal-Mogul Corporation.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/germany-automotive-aftermarket/request/rs1
Grand View Research has segmented the Germany automotive
aftermarket on the basis of replacement part, distribution channel, sales
channel, and certification:
Germany Automotive Aftermarket Replacement Part Outlook (Revenue,
USD Billion, 2014 - 2025)
- Tire
- Battery
- Brake
parts
- Filters
- Body
parts
- Lighting
& Electronic components
- Wheels
- Exhaust
components
- Turbochargers
- Others
Germany Automotive Aftermarket Distribution Channel Outlook
(Revenue, USD Billion, 2014 - 2025)
- Retailers
- W&D
Germany Automotive Aftermarket Sales Channel Outlook (Revenue, USD
Billion, 2014 - 2025)
- DIY
- DIFM
- OE
Germany Automotive Aftermarket Certification Outlook (Revenue, USD
Billion, 2014 - 2025)
- Genuine
Parts
- Certified
Parts
- Uncertified
Parts
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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