Brazil 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.

Brazil Automotive Aftermarket Market Overview

Brazil Automotive Industry has been constantly expanding and developing in terms of production and sales. The Brazil automotive industry is one of the largest vehicle producers across the globe. This is driven by the increasing investment by the international companies such as BMW, Fiat, Kia, Suzuki, Land Rover, Mercedes-Benz, Volkswagen, Audi, among others. In addition, favourable environment has further increased the domestic demand. The Brazilian government is focussing on improving the business environment, incentives for the technological advancement and rising foreign investment in the Brazil automotive industry. The government is further promoting vehicle export and facilitating new trade agreements with other Latin America countries.

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Major Brazil Automotive Aftermarket Market Drivers

Brazil Automotive aftermarket is driven by the increase in the vehicle sales and rise in demand for modification among car owners. In addition, increase in the disposable income of people along with the improvement in the living standards is increasing the demand of passenger vehicle during the forecast period. Factors such as easy availability of labor availability, government support and R&D activities is accelerating the automotive industry in Brazil. Moreover, increasing average age of vehicles coupled with the rising number of cars is further boosting the automotive aftermarket in Brazil. With the increase in vehicle age, the demand for replacement parts increases which boost the automotive aftermarket expansion. In addition, increasing chances of auto parts failure in 10 years old vehicle is creating demand opportunities for filters, brake parts, clutch parts, tire, battery, among others.

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As automotive industry and disposable income of consumers increases, the sales of passenger and commercial vehicle will increase. Rising popularity of e-commerce is propelling the market growth. For instance, Brazil reported 15,58, 467 passenger car sales in 2021. The Brazil government further aimed to boost investment and technological innovations and skill development is driving the Brazil automotive aftermarket.

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Segments covered in the Report:

The Brazil 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.

Key questions answered in this research report:

• • At what pace is Brazil Automotive Aftermarket growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Brazil Automotive Aftermarket? What will be the impact of drivers and restraints in the future?
  • Which are the major revenue pockets for growth in the Brazil Automotive Aftermarket?
  • Which vehicle type generated maximum revenues in 2022 and identify the most promising type during the forecast period?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

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