MALAYSIA AUTOMOTIVE AFTERMARKET MARKET

Malaysia Automotive Aftermarket Market 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.

Malaysia Automotive Aftermarket Market Overview

Malaysia automotive industry holds 3rd position in Southeast Asia and 20th position worldwide with the annual production of 702, 275 vehicles in 2022. An increase of 45.8% in terms of vehicle production as compared to 2021. Automotive Industry is the one of the foremost industries boosting the Malaysian economy. Malaysia reported more than 27 vehicle producers and 640 component manufacturers. Proton and Perodua are the major car manufacturers operating in the automotive industry in Malaysia. As per the Malaysian Automotive Association, Proton and Perodua captured more than 50% of market share in terms of vehicles production and sales.

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Major Malaysia Automotive Aftermarket Market Drivers

Malaysia Automotive Aftermarket market is predicted to grow due to the increase in vehicle production and sales. With the increasing income and change in the consumer habits, the demand for passenger and commercial vehicles is expected to increase. Rising average age of vehicle along with the vehicle in operation is further boosting the Malaysia Spare Parts Aftermarket Industry. Moreover, government initiatives such as National Automotive Policy is propelling the Malaysia’s automotive aftermarket. National Automotive Policy was inaugurated in 2006 to diversify the automotive industry in Malaysia and to develop Malaysia as a regional hub. In 2009, government focused to boost the investment and to strengthen the capability of the domestic market. In 2014, Malayasia focused on green initiatives by making country as a regional hub for the Energy Efficiency Vehicle. The government further aimed to increase the exports of vehicles, automotive spare parts and aftermarket sectors, which will further encourage the Automotive Aftermarket Service Industry in Malaysia. NAP2020 planned to digitally transform the automotive industry by adopting advanced technologies such as AI, IoT, Industry 4.0, autonomous driving and others.  All these government initiatives is projected to support the Malaysian automotive aftermarket market.

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Passenger and commercial vehicles is estimated to register higher sales in 2022 as compared to 2021. Malaysian Automotive Association reported passenger new vehicle registration in 2022 was 641,773 units from 452,486 units in 2021, YoY growth rate was 41.8%. Commercial vehicle segment reported higher growth in sales i.e., 78,885 units in 2022 as compared to 56,397 unit in 2021. An increase of 39.9% in commercial vehicle owing to the growing demand and rising investment by various car makers in Malaysia.

As per the GMI Research report, Automotive Aftermarket in Malaysia will continue to grow during the forecast period. The market is propelled by the rapid expansion of the organised sector has boosted the online aftermarket industry in Malaysia due to the consumer desire to improve the overall vehicle performance.

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Segments covered in the Report:

The Malaysia Automotive Aftermarket has been segmented on the basis of vehicle type, certification and replacement part. By replacement parts, the market is segmented into Clutch Parts, brake parts, tire, filters, Lighting Components, battery, electronic components, Engine Components, Lubricants, and others. Based on the vehicle type, the market has been segmented into commercial vehicles and passenger vehicles. Based on certification, the market has been segmented into Certified Parts, Counterfeit Parts, Genuine Parts, Others.

Market Segmentation

Malaysia Automotive Aftermarket by Vehicle Type

• • Commercial Vehicles
  • Passenger Vehicles

Malaysia Automotive Aftermarket by Replacement Parts

• • Tire
  • Battery
  • Brake Parts
  • Filters
    • Air Filter​
    • Oil Filter​
    • Others​
  • Lighting Components​
  • Electroniccomponents​
  • Lubricants​
  • Clutch Parts​
  • Engine Components
    • Timing Belt​
    • Spark Plugs​
    • Others​
  • Others

Malaysia Automotive Aftermarket by Certification

• • Genuine Parts
  • Certified Parts
  • Counterfeit Parts
  • Others