Global Automotive Wholesale and Distribution Aftermarket Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Automotive Wholesale and Distribution Aftermarket market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The worldwide Automotive Wholesale And Distribution Aftermarket Market is anticipated to reach over USD 295.2 billion by 2027. In 2021, the passenger vehicles segment dominated the market, in terms of revenue. In 2021, North America accounted for the majority share in the automotive wholesale and distribution aftermarket market.
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The expanding global automotive industry, along with increasing average age of vehicles majorly drives the automotive wholesale and distribution aftermarket market growth. The increasing sale of passenger vehicles, especially form the emerging economies of Asia-Pacific, and use of advanced technology for fabrication of auto parts boosts the market growth. Consumers are increasingly becoming aware of proper maintenance and repair of vehicles, which supports market growth. Other factors driving market growth include greater need for long distance travel, technological advancements in telematics technologies, and changing lifestyles. New emerging markets, and emerging consumer demographics would provide growth opportunities for automotive wholesale and distribution aftermarket market in the coming years.
COVID-19 Impact
The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Automotive Wholesale and Distribution Aftermarket Market also experienced a slowdown. Statista estimates that the Automotive Wholesale and Distribution Aftermarket Market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Automotive Wholesale and Distribution Aftermarket Market generated revenues of US$ 5.4 trillion at a record high.
The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Automotive Wholesale and Distribution Aftermarket Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
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In 2017, North America accounted for the highest share in the global automotive wholesale and distribution aftermarket market. The established automotive industry, technological advancements, and high investment in R&D are factors expected to drive the market growth in the region. Asia-Pacific is expected to grow at the highest CAGR during the forecast period. This is due to economic growth in countries such as China and India, leading to rising living standards and increasing disposable income. Expansion of global players into these countries to tap market potential boosts the market growth. Favorable regulations for production of automotive wholesale and distribution aftermarket components, and poor road infrastructure in developing countries such as India, and Pakistan are expected to augment Automotive Wholesale And Distribution Aftermarket Market Growth during the forecast period.
The companies operating in the market include Denso Corporation, Robert Bosch GmbH, ZF Friedrichshafen AG, Continental AG, 3M Company, Delphi Automotive PLC, Magneti Marelli S.p.A, Goodyear Tire & Rubber Company, Cooper Tire & Rubber Company, and Federal-Mogul Corporation. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
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