Chile Automotive Aftermarket Market and Analysis Report – Opportunities and Forecast 2024-2031
Chile 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.
Chile Automotive Aftermarket Market Overview
Chile automotive industry is fastest growing industry due to the government support, investment on R&D activities, easy availability of labor and high purchasing power of consumer. Chile government is focusing on automotive sector and supporting FDI flows in the industry.
Major Chile Automotive Aftermarket Market Drivers
Chile automotive aftermarket market is predicted to increase in next seven years due to the increasing disposable income of consumers along with the rising sales of the passenger vehicles. Due to rise in per capita income of consumers and easy accessibility of car loans, the demand for passenger vehicles increases. As per the OICA, passenger vehicle sales has been increased to 304,045 units in 2021 as compared to 194,128 units in 2020 and reported 57% YoY growth rate in Chile. Growing demand for original replacement and spare parts for better performance of the vehicle among car owners is supporting the automotive aftermarket in Chile.
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Rising spending to buy vehicle, auto spare parts and accessories among Chilean consumers is further boosting the Chile aftermarket auto parts. Increasing demand for replacement parts such as engine components, tires, gearbox, clutches, brake components, among others is paving way for the market growth. GMI Research predicted that Chile automotive spare parts will continue to grow due to growing demand for good quality and certified replacement parts, which in turn to increase the vehicle sales in Chile.
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Segments covered in the Report:
The Chile 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 commercial vehicles and passenger 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 | Chile |
| 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
Chile Automotive Aftermarket by Vehicle Type
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- Commercial Vehicles
- Passenger Vehicles
Chile 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
Chile Automotive Aftermarket by Certification
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- Genuine Parts
- Certified Parts
- Counterfeit Parts
- Others
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