Canada Automotive Aftermarket Market and Analysis Report – Opportunities and Forecast 2024-2031
Canada Automotive Aftermarket present significant opportunities, with over millions of passenger vehicles are currently out of warranty in 2023, and the passenger cars with an out of warranty population is projected to grow at a robust CAGR from 2023-2031.
Canada Automotive Aftermarket Market Overview
Canada automotive industry is the second largest vehicle producer across the North America region. The industry provides employment to more than 125,000 people directly and 400,000 through aftermarket services. Canada is the one of the top 12 manufacturers of light vehicles and more than 1.4 million cars were assembled by the global players in the country. Major Automakers such as Ford, GM, Toyota, Honda and Stellantis supply around 700 auto parts, which makes Canadian automotive sector highly dependent on global supply chain. Automotive Parts Manufacturers Association was introduced by the country which represents OEM manufacturers of replacement parts, tools, aftermarket services and equipment.
Major Canada Automotive Aftermarket Market Drivers
Canada Automotive Aftermarket market is driven by the high presence of the global players in the automotive aftermarket sector. Growing demand for vehicle modification among car owners is further expected to boost the Canada automotive aftermarket market. As the vehicle age increases, the demand for replacement part will also increase, which will create more opportunities for the Canadian aftermarket in near future. Moreover, increasing sales of passenger vehicle is paving the way for the market growth. As per the OICA, Canada reported 320,605 units of new passenger vehicle registration in 2021.
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GMI Research analyst estimated that Canadian automotive aftermarket will increase at a higher CAGR in next seven years. Key players in the automotive aftermarket in Canada is adopting emerging technologies, which is attracting investment in the Canadian market. In addition, Canada government is heavily investing to reduce carbon emissions by 2050 and to make green economy.
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Segments covered in the Report:
The Canada Automotive Aftermarket has been segmented on the basis of certification, vehicle type, replacement part. By replacement parts, the market is segmented into brake parts, tire, battery, filters, Lighting Components, electronic components, Clutch Parts, Engine Components, Lubricants, and others. Based on the vehicle type, the market has been segmented into passenger vehicles and commercial vehicles. Based on certification, the market has been segmented into Certified Parts, Counterfeit Parts, Genuine Parts, Others.
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Report Coverage |
Details |
| Market Revenues (2023) |
USD Million |
| Market Base Year |
2023 |
| Market Forecast Period |
2024-2031 |
| Base Year & Forecast Units |
Revenues (USD Million) |
| Market Segment | By Vehicle Type, By Replacement Parts, By Certification |
| Regional Coverage | Canada |
| 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
Canada Automotive Aftermarket by Vehicle Type
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- Commercial Vehicles
- Passenger Vehicles
Canada Automotive Aftermarket by Replacement Parts
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- Tire
- Battery
- Brake Parts
- Filters
- Air Filter
- Oil Filter
- Others
- Lighting Components
- Electroniccomponents
- Lubricants
- Clutch Parts
- Engine Components
- Timing Belt
- Spark Plugs
- Others
- Others
Canada Automotive Aftermarket by Certification
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- Genuine Parts
- Certified Parts
- Counterfeit Parts
- Others
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