© 2016 Global Market Insights, Inc. USA. All Rights Reserved Fuel Cell Market size worth $25.5bn by 2024 Automotive Aftermarket By Product, Industry trends and Statistics, Forecast, 2016 – 2024: Fractovia.org

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  The rising automotive industry coupled with the consumer preference for maintained and efficient vehicles will boost the automotive aftermarket industry size in the years ahead.  A major focus is toward improving the overall vehicle efficiency which is derived from lower fuel emissions. For instance, Corporate Average Fuel Economy (CAFÉ) and European legislations are imposing strict norms for enhancing the efficiency of the vehicles.  The increased average lifespan of the automobiles is a significant factor generating huge avenues for the automotive aftermarket industry. Latin America, in this regard, is witnessing a huge demand for automotive aftermarket products and is forecast to witness a CAGR of 5% over the timeframe of  Asia Pacific will be one of the major regions driven by this trend, with an estimated annual growth rate of 6% over the coming seven years. Key Insights of Automotive Aftermarket:

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Europe automotive aftermarket industry is projected to witness gains at over 4% during the estimated timeframe, primarily driven by the demand across Germany and UK. The large presence of OEMs and a huge customer base will be the prime factors favoring the regional demand.  Technological advancements in the automotive industry has led to an appreciable sale of the replacement aftermarket products, particularly the electrical components and brakes which almost accounted for 50% of the overall replacement product sales.  The industry with the presence of varied service channels is quite fragmented and competitive. To sustain the competition and retain the market value, the players need to upgrade the product quality and enhance the brand recognition and regional presence. Notable industry participants include Denso Corporation, Continental AG, Magneti Marelli, 3M Company, Akebono Brake Corporation, Yazaki, Cooper Tire & Rubber Company, Lear Corp, ALCO Filters, Magna International, Johnson Controls, and BASF. Continued…

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