The Germany automotive aftermarket is projected to reach USD 23.4 billion by 2025 and expected to grow with the CAGR of 1.1% over the forecast period, from 2019 to 2025, according to Million Insights. Factors like rapidly evolving customer expectation, technological advancement, and increased intense competition among market players are expected to drive the automotive aftermarket growth in Germany.
Germany is one of the most prominent manufacturers of automotive vehicles and reported high demand and sales for automobiles. Vehicle parc has observes considerable growth in recent years due to rising vehicle sales. Further, rising vehicle parc has led to increase replacement of several automotive parts; thereby expected to drive the market growth in the next few years. Furthermore, innovative business models and online tailored services is expected to boost the market growth during the forecast period. Market players from OESs and OEMs to workshops, insurers and wholesalers in the value chain are striving to get profit from online sales of automotive parts, which is anticipated to boost the market growth over the forecast period.
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Another factor boosting the sale of automotive parts is high penetration of internet, which is around 70% of people are using internet. Hence, online aftermarket channels is expected to grow vastly over online channels in this country and expected to open new avenues for spare parts and accessories providers. Some aftermarket players are engaged to develop online portals, which is based on online shops and offering through third-party retail providers. . This factor is expected to drive the aftermarket growth in the next few years.
In distribution channel and sales, the aftermarket growth is expected to have significant on-going revolution. Small players are engaged in fulfilling the customer requirements to sustain in this competitive market. This requires electronic tools along with specialization in service models in order to strengthen their position in the market. Franchise operations, fast fitters, and automotive centres are emerging as a prominent service provider in the automotive aftermarket for certified automotive parts sales.
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Further key findings from the report suggest:
• Among replacement parts, wheel segment is projected to gain traction in Germany automotive aftermarket. Rising awareness about robust performance of magnesium aluminum has fueled the growth of this segment.
• In distribution channel, retailers held the largest market share, in 2018. However, the growth of this is expected to be steady, allowing distributors and wholesaler to overtake its lead position by the end of 2025.
• In 2018, original equipment manufacturers are accounted for the largest market share. The DIFM and DIY segments are projected to have significant growth during the forecast period due to increasing popularity of e-commerce industry.
• Based on certification, genuine parts segment is projected to retain its lead position from 2019 to 2025. Certified Parts segment is projected to grow with highest growth rate during the forecast period.
• Continental AG, Federal-Mogul Corporation, 3M, Delphi Automotive PLC, and Denso Corporation are prominent players included in the market.
Million Insights has segmented the Germany automotive aftermarket on the basis of replacement part, distribution channel, sales channel, and certification:
Germany Automotive Aftermarket Replacement Part Outlook (Revenue, USD Billion, 2014 – 2025)
• Tire
• Battery
• Brake parts
• Filters
• Body parts
• Lighting & Electronic components
• Wheels
• Exhaust components
• Turbochargers
• Others
Germany Automotive Aftermarket Distribution Channel Outlook (Revenue, USD Billion, 2014 – 2025)
• Retailers
• W&D
Germany Automotive Aftermarket Sales Channel Outlook (Revenue, USD Billion, 2014 – 2025)
• DIY
• DIFM
• OE
Germany Automotive Aftermarket Certification Outlook (Revenue, USD Billion, 2014 – 2025)
• Genuine Parts
• Certified Parts
• Uncertified Parts
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