As cited by the business intelligence report titled ‘Asia Pacific Automotive Aftermarket Size By Sales Outlet, By Product, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report, Asia-Pacific automotive aftermarket is anticipated to record significant growth over 2020-2026.
 

According to industry experts, growing efforts of manufacturers towards catering to the constantly changing consumer demands coupled with technological advancements and rapid development in logistic support services are catalyzing Asia Pacific automotive aftermarket growth.
 

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Moreover, rising ‘do it yourself (DIY)’ trend, rapid digitalization, escalating investments in online order management systems as well as vendor management solutions, and increasing establishment of e-commerce platforms are accelerating industry expansion.
 

For the record, primary operations in the automotive aftermarket include manufacturing, distribution, retailing, installation, and remanufacturing of automobile components after the equipment and accessories are sold by the OEMs (original equipment manufacturers) to their customers.
 

Based on product landscape, Asia Pacific automotive aftermarket is bifurcated into accessories, replacement parts, and others.
 

With regards to sales outlet, the market is split into OEM factory fill, DIY (do it yourself), and professional among others.
 

From a geographical viewpoint, Malaysia, Indonesia, India, Thailand, China, South Korea, and Japan are the top contributors to Asia Pacific automotive aftermarket value. Among these, the South Korea marketplace is touted to grow at 7% CAGR over 2020-2026, on account high concentration of major automotive organizations as well as manufacturing facilities, technological advancements, and escalating demand for luxury vehicles in the country.
 

Yanfeng Automotive Interiors Systems Co., Ltd., 3M Co., Denso Corp., Yazaki Corp., Continental AG, Hella KGaA Huech & Co., BASF SE, Bridgestone Corp., Aptiv plc, Toyota Motor Corp., and Lear Corp. are the key participants in Asia Pacific automotive aftermarket.