Global Automotive Aftermarket Outlook Report 2021: Key Trends and Opportunities that will Shape the Growth Pipeline of the Aftersales Business in 2021 and Beyond – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Aftermarket Outlook, 2021” report has been added to ResearchAndMarkets.com’s offering.
This study identifies the size of the global automotive parts and services aftermarket and its growth opportunities in 2021, based on how the market performed in 2020 during the COVID-19 pandemic.
The study provides detailed analysis of key trends influencing the aftermarket, market revenues of major part categories, ownership behavior of customers, and identifies major opportunity areas for various stakeholders. These analyses are provided for major automotive markets: North America, Latin America, Europe, China, and India.
At the global level, the study discusses how 2020 shaped up for the automotive aftermarket, analyzing both qualitative and quantitative aspects. It also provides an outlook for the year ahead, thereby, discussing all major trends and key business models expected as an outcome.
Market Highlights
Aftermarket replacement revenue from parts and accessories sales dipped by 8.8% in 2020. The serious contraction in demand was primarily due to the restraints imposed by the COVID-19 pandemic which crippled the mobility demand. Work from home, higher adoption of the online channel for retail purchases, and large-scale unemployment meant vehicles were used less frequently for personal mobility across segments. Recessionary scenarios pertaining to the economy added to the woes of market participants.
On the flip side, the situation pushed market participants to innovate and invest in increasing the effectiveness of their solutions. As a result, in 2021, the analyst expects growth of aftermarket revenue to be 7.1%, making up for some of the revenues that were eroded in the previous year.
Key Topics Covered:
1. Strategic Imperatives
- Why is it Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top Three Strategic Imperatives on the Automotive Aftermarket
- Growth Opportunities Fuel the Growth Pipeline Engine
2. Executive Summary – 2021 Global Automotive Aftermarket Outlook
- 2020 Global Automotive Aftermarket – Actual vs. Forecast
- Global Automotive Aftermarket Replacement Revenue Forecast for Parts and Accessories, 2019-2025
- 2020 in Numbers
- 2020 in Trends
- 2021 in Numbers
- 2021 in Trends
- Challenges Faced by the Global Aftermarket Industry due to COVID-19 in 2020
3. Growth Environment and Scope – Global Automotive Aftermarket
- Research Scope
- Vehicle Segmentation
4. Macroeconomic Factors Impacting Global Automotive Aftermarket, 2021
- COVID-19 Impact on World GDP Growth
- Global Growth Scenario Analysis – Assumptions
- World GDP Growth Under Differing Scenarios
- COVID-19 Impact on Key Regions
5. Global Automotive Aftermarket Outlook and Trends, 2021
- Global Light VIO
- Global Aftermarket Revenue Market Size Potential
- Growth Opportunity by Region
- Trend 1 – eRetailing
- Trend 2 – EV Sales
- Trend 3 – Digitization
- Trend 4 – Pandemic-induced Products and Services
- Trend 5 – Uptake of Sub-compact and Compact SUVs
- Average Vehicle Age
- Impact on Distance Travelled
- Average Annual Miles Driven, 2019-2021
- Long-term Trends
- Long-term Opportunity
- OEM Activity in 2020
- eCommerce Activity in 2020
- OEM/Supplier Activity in 2020
- M&As, MoUs, and Partnerships in 2020
- Policy and Regulation Changes in 2020
6. North American Automotive Aftermarket Outlook, 2021
- Regional Outlook – United States
- Regional Outlook – Canada
- North America Aftermarket
- Aftermarket Outlook – Revenue by Parts Type
- VIO Ownership Pattern
- VIO Model Mix – North America
- Automotive Aftermarket Opportunity Areas
7. Europe Automotive Aftermarket Outlook, 2021
8. China Automotive Aftermarket Outlook, 2021
9. India Automotive Aftermarket Outlook, 2021
10. Latin America Automotive Aftermarket Outlook, 2021
11. Growth Opportunity Universe, 2021
- Growth Opportunity 1: Online Sales of Replacement Parts and Accessories in 2021
- Growth Opportunity 2: ADAS Sensor Recalibration Services
- Growth Opportunity 3: New Product Categories Offer Additional Revenues
12. Key Conclusions
For more information about this report visit https://www.researchandmarkets.com/r/w1hfpd
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