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.
For more info visit here: 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.
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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.
For more info visit @ https://www.grandviewresearch.com
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