Automotive Aftermarket Industry Soars USD 114.60 Bn by 2034

Automotive Aftermarket Industry Competitive Landscape and Future Outlook

According to market projections, the automotive aftermarket industry sector is expected to grow from USD 73.44 billion in 2024 to USD 114.60 billion by 2034, reflecting a CAGR of 4.55%. Asia Pacific dominates the automotive aftermarket industry, driven by e-commerce growth, while North America is set for strong growth with rising car detailing shops. The retail segment leads due to easy access to parts, and genuine parts are preferred for vehicle quality.

Last Updated: 31 March 2025 Category: Aftermarket Insight Code: 1678 Format: PDF / PPT / Excel

Senior Research Analyst

Dr. Arjun Patel

Reviewed By

Aditi Shivarkar

Automotive Aftermarket Industry Expansion and Technological Breakthrough

The automotive aftermarket industry is forecasted to expand from USD 76.78 billion in 2025 to USD 114.60 billion by 2034, growing at a CAGR of 4.55% from 2025 to 2034.

Automotive Aftermarket Industry Size 2023 - 2034

Introduction

The automotive aftermarket industry is a prominent branch of the automotive industry. This industry deals in manufacturing and distribution of high-quality automotive parts in different parts of the world. There are various types of replacement products available in the market consisting of tire, battery, brake parts, filters, body parts, lighting & electronic components, wheels, exhaust components, turbochargers and some others. These products are certified in different categories including genuine parts, certified parts, uncertified parts and some others. The rising development in the automotive aftermarket industry has boosted the industrial expansion. This market is predicted to rise significantly with the growth of the e-commerce sector around the globe.

U.S. Automotive Aftermarket Revenue in USD Billion (2023-27)

  • According to a report published by Motor & Equipment Manufacturers Association, the U.S. automotive aftermarket was valued at US$ 391 billion in 2023 that is expected to reach US$ 472 billion in 2027.

Highlights of the Automotive Aftermarket Industry

  • Asia Pacific held the largest share of the automotive aftermarket industry due to the rising development in e-commerce sector across this region.
  • North America is expected to grow with a significant CAGR due to the increase in number of car detailing shops in this region. 
  • The retail segment held the largest share of the market due to the availability of aftermarket parts in retail outlets.
  • The genuine parts segment led the industry due to the growing consumer preference to use genuine products in their vehicles.

Key Metrics and Overview

Metric Details
Market Size in 2024 USD 73.44 Billion
Projected Market Size in 2034 USD 114.60 Billion
CAGR (2025 - 2034) 4.55%
Leading Region Asia Pacific
Market Segmentation By Material Type, By Application, By End Use Vehicle Type, By Manufacturing Process and By Region
Top Key Players 3M Company; Continental AG; Delphi Automotive PLC; Denso Corporation; Cooper Tire & Rubber Company

Industry Leader Announcement

In September 2024, Bill Nunnery, the Senior Director, Sales and Marketing, Global Aftermarket for Dana Incorporated announced that, “Quality, velocity, and authenticity are driving vehicle performance in today’s rapidly evolving aftermarket, with customers demanding quick, responsive, and unmatched service, we’re leaning into their highest expectations with a relentless drive for continuous innovation throughout our aftermarket portfolio.”

Geographical Insights

Asia Pacific held the highest share of the automotive aftermarket industry. The growing demand for superior-grade automotive parts has driven the market expansion. Also, the rising investment in commercial vehicles industry coupled with technological advancements in automotive components industry is crucial for the industrial growth. Moreover, the presence of several aftermarket companies such as Hyundai Mobis Co, Shandong Zhengnuo Group Co., Ltd, ASIMCO Technologies Ltd. and some others is driving the market growth in this region.

Competitive Landscape

Automotive Aftermarket Industry Companies

The automotive aftermarket industry is a highly fragmented market with the presence of several dominating players. Some of the prominent companies in this industry consists of 3M Company; Continental AG; Delphi Automotive PLC; Denso Corporation; Cooper Tire & Rubber Company; Federal-Mogul Corporation; HELLA KGaA Hueck & Co. and some others. These companies are constantly engaged in developing aftermarket products for the automotive sector and adopting numerous strategies to maintain their dominance in this industry.

3M Automotive Aftermarket Size in USD Million (2022-24)

  • According to the annual report of 3M, the revenue of the automotive aftermarket segment in 2022 was US$ 1209 million that increased to US$ 1235 million in 2024.

Market Segmentations

By Material Type

  • Metals
  • Plastics
  • Composites
  • Ceramics  

By Application

  • Structural Components
  • Body Panels
  • Interior Components
  • Electrical Components

By End Use Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Manufacturing Process

  • Injection Molding
  • Die Casting
  • 3D Printing
  • Machining

By Region

  • North America
  • Europe
  • South America
  • Asia Pacific
  • Middle East and Africa
Share With : linkedin twitter facebook

About The Author

Dr. Arjun Patel is a distinguished expert in the automotive industry, holding advanced degrees in Automotive Engineering and Mechanical Engineering. His expertise spans automotive market dynamics, technological advancements, and sustainable practices. Dr. Patel excels in conducting in depth research and analysis on market trends, consumer preferences, and the economic implications within the automotive sector. He is renowned for his insightful publications on topics such as electric vehicles, autonomous driving technologies, and the evolution of sustainable transportation solutions. Dr. Patels research contributions have significantly advanced understanding in the field, earning him recognition as a leading authority in automotive research and analysis.

FAQ's

The automotive aftermarket industry market was valued at USD 76.78 billion in 2025.

Asia Pacific dominated this industry.

The rising trend of vehicle modification along with rapid investment in aftermarket industry has boosted the market growth.

Some of the prominent players of this industry consists of Delphi Automotive PLC; Denso Corporation; 3M Company; Continental AG; Cooper Tire & Rubber Company; Federal-Mogul Corporation; HELLA KGaA Hueck & Co.; Robert Bosch GmbH; Valeo Group; and some others.

Ready to talk to a Towards Automotive consultant?

We offer automotive expertise for market projections and customizable research, adaptable to diverse strategic approaches.

Contact Us