US Automotive Aftermarket Market and Analysis Report – Opportunities and Forecast 2023-2030
US automotive aftermarket is driven by the increasing demand for replacement parts with the rising sales of passenger vehicles in the country.
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US Automotive Aftermarket Overview
US automotive industry is the one of the largest industry and second largest market in terms of vehicle production and sales in 2020. For instance, 14.5 million light vehicles were sold in 2020. Major auto manufacturers operating in US automotive market are Ford, GM, Tesla, BMW, Stellantis NV, Fiat and Daimler.
Major US Automotive Aftermarket Drivers
The key factors driving the US automotive aftermarket industry includes growth in automotive production, increase in the vehicles sales, surge in the used car market, growing smartphone users and rapid urbanization in US. With the increase in the disposable income of consumers, the demand for luxury cars is expected to expand. Rising trend of designing and remodelling of vehicles will further rises the demand for automotive aftermarket products. Vehicle retirement and replacement programs was introduced by the US government to replace used and fuel-inefficient vehicles for households For instance, Car Allowance Rebate System launched in 2009 to provide USD 3,500 to 4,500 to households if they scrap old vehicles and buy new fuel-efficient vehicle.
The market is driven by the strict regulations by the government agencies such as US environment protection agency focuses on regulating the quality and safety of the automotive aftermarket parts has boosted the automotive aftermarket industry in the United States. High demand for original and certified replacement parts has further raised the sales in USA. Vehicle owners are conscious about the counterfeit products as it damage the vehicle performance, which rises the demand for genuine parts among people. Increasing awareness regarding the maintenance of cars to maintain the efficiency and performance among consumers. This is predicted to increase the auto components manufacturing in the USA automotive industry.
Surge in the demand for vehicle modification among car owners. OEMs are focusing on vehicle accessories to provide more comfort and convenience to meet the increasing demand of consumers, will enhance the market growth. R&D initiatives in the automotive industry is further projected to create new opportunities in the US automotive aftermarket. For example, USD 18 billion was spend on R&D in the US as per the auto alliance in 2018.
USA is the manufacturing hub for the automotive components and aftermarket parts which is dominated by the well established players in the automotive industry. Factors like favourable government initiatives and policies and high demand for the auto parts is likely to propel the market growth in near future. Easy availability of replacement parts on online platforms with the increase in the used car sales is further supporting the United states of America automotive aftermarket industry. Online services has ensured more transparency for the maintenance services and auto repair delivery. This further helps the consumers to speculate the replacement parts costs. Some of popular automotive auto parts such as engine components, brake parts, batteries, tire and lighting components. Moreover, rapid improvement in the digital technologies has created numerous opportunities for the car manufacturers and dealers in the united states automotive aftermarket. For example, Continental AG extended its product portfolio on the online portal for the automotive aftermarket in 2020. However, high cost of the original and genuine auto parts will hinder the growth of the automotive aftermarket in US.
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Tire segment is estimated to dominate the market share
Increase in the sale of tire because of the frequent replacement of tires as compare to other replacement parts. For instance, Bridgestone net sales were USD 28.93 billion, in which tire cover 83% of shares and Americas cover 32% of total tire production volume in 2022. According to the US tire Manufacturer Association, the US tire manufacturing industry contribute USD 148 billion in economic output in the United States. These factor is expected to propel the tire market in the US.
Passenger vehicles segment is projected to grow at the faster CAGR.
The market is driven by the increasing awareness about the fuel mobility with the increasing disposable income of consumers. Change in the consumer preference with the rapid urbanization is supporting the growth of the passenger vehicle market. United States reported 14,452,892 units of new car registration in 2020.
Commercial vehicles market is driven by the increasing production of commercial vehicle. According to the International Organization of Motor Vehicle Manufacturers, in United States the total production of commercial vehicles was 8.37 million in 2019.
Genuine parts segment is estimated to hold the largest market share.
Genuine parts market is driven by the growing awareness about the original parts benefits among vehicle owners as it improves the efficiency and performance of the vehicle. Genuine replacement parts provides greater assurance of quality and warranty of replacement parts offered by the car manufacturers.
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Key Developments:
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- In 2023, Delphi Technologies, part of BorgWarner Inc. planned to expand its product portfolio and aftermarket innovation in fuel pump & power electronics components across US. Through this expansion, the company will strengthen its position in automotive industry.
- In 2023, ZF Friedrichshafen AG extended its support for more than 73.5 million vehicle in US and Canada. The company also introduced 47 parts for brake pad sets which will be available for more than 11.9 million VIO.
- In 2022, Continental AG opened new automotive manufacturing plant in Texas, US. This facility was built in 215,000 m2 area and invested USD 110 million. Through this expansion, company planned to create more than 500 new job opportunities in the state.
- In 2021, Goodyear Tire completed the acquisition of Cooper Tire & Rubber company worth of USD 2.5 billion. The company planned to expand its tire manufacturing footprint through three new plants with the production capacity of 97,000 units per day in US.
- In 2021, Lear Corp. announced that it is the lead investor for the Series C round of financing in CelLink Corporation, a San Carlos, California- based manufacturer of a new class of flat and flexible circuits that minimize complexity, space, and weight.
Segments covered in the Report:
The US Automotive Aftermarket has been segmented on the basis of vehicle type, certification, replacement part. Based on the vehicle type, the market has been segmented into commercial vehicles and passenger vehicles. By replacement parts, the market is segmented into tire, battery, brake parts, filters, Lighting Components, Electronic components, Lubricants, Clutch Parts, Engine Components and others. Based on certification, the market has been segmented into Genuine Parts, Certified Parts, Counterfeit Parts, Others.
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Report Coverage |
Details |
| Market Revenues (2022) |
USD Million |
| Market Base Year |
2022 |
| Market Forecast Period |
2023-2030 |
| Base Year & Forecast Units |
Revenues (USD Million) |
| Market Segment | By Vehicle Type, By Replacement Parts and By Certification |
| Regional Coverage | United State |
| Companies Profiled | Profiles of Top 10 Major Companies Operating in “US Automotive AfterMarket” |
| 25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
US Automotive Aftermarket by Vehicle Type
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- Commercial Vehicles
- Passenger Vehicles
US Automotive Aftermarket by Replacement Parts
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- Tire
- Battery
- Brake Parts
- Filters
- Air Filter
- Oil Filter
- Others
- Lighting Components
- Electronic components
- Lubricants
- Clutch Parts
- Engine Components
- Timing Belt
- Spark Plugs
- Others
- Others
US Automotive Aftermarket by Certification
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- Genuine Parts
- Certified Parts
- Counterfeit Parts
- Others
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