Asia Pacific Automotive Aftermarket Dynamics and Forecast By 2027

Asia Pacific automotive aftermarket is projected to consolidate itself as one of the most lucrative investment grounds. A steady increment in the level of income and the associated purchasing power across a number of nations in the region will majorly be responsible for the APAC automotive aftermarket experiencing a distinguished growth rate. This can be credited to the recent upsurge in the number of consumers, especially across the luxury or higher-end automotive segments, seeking to customize their automobile according to individualistic requirements.
The principal factor responsible for the growth of the Asia Pacific automotive aftermarket industry from Vietnam is the rapid upsurge in automobile sales in the region. According to a prediction made by the Industrial Policies Strategies Institute under the Ministry of Trade and Industry, on the basis of the regional populace, income per head and the average number of automobiles per 1,000 people, the automobile industry in Vietnam is anticipated to hit 800,000 units by 2025 and close to 1.85 million units by 2035
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Yet a couple of major factors that have helped augment the industry growth is the relatively low cost and significantly high availability of aftermarket parts in APAC compared to the parts provided by original equipment manufacturers (OEMs), which are relatively scarce and higher in terms of cost. On account of the expanding economic growth across a plethora of APAC nations, the average distance travelled by a vehicle has also been slated to undergo a steady rise, further facilitating a very strong outlook for different replacement parts, which would push the Asia Pacific automotive aftermarket industry size.
According to a 2018 study by the Indian Brand Equity Foundation, the India automotive aftermarket industry has been experiencing a healthy growth rate since the last few years. In FY 2017-18, the nation’s automobile component industry grew by more than 18%, hitting a valuation over $50 billion. The nation’s overall automotive industry has also been expanding at a remarkable pace, making the country a favorable investment ground for Asia Pacific automotive aftermarket players.
The nation possesses a crucial competitive advantage over industries from other regions owing to its extremely cost-effective manufacturing sector, which allows costs to be lower by as much as 10% to 25%. As the demand for organized and unorganized auto components surges (with the latter mostly comprising aftermarket products) and India’s automotive exports observe an incline, APAC automotive aftermarket is likely to accrue substantial profits from India.
The Australian Automotive Aftermarket Association (AAAA), Australia’s automotive industry watchdog with more than 2500 member manufacturing firms, is known for enforcing high standards for the quality of products being offered in the market. The quality level maintained by AAAA is expected to benefit both the country’s automotive sector and its consumers as it compels industry players to launch better quality, safe products. Endorsed by a supportive regulatory landscape and a robust influx of new vehicle technologies, Asia Pacific automotive aftermarket is anticipated to garner commendable proceeds from Australia.
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Partial Chapter of the Table of Content
Charts & Figures
FIG. 1    Industry segmentation
FIG. 2    Industry ecosystem analysis
FIG. 3    Industry impact forces
FIG. 4    Vehicles Sales, China, 2015 - 2019
FIG. 5    Growth potential analysis, 2020
FIG. 6    Porter’s analysis
FIG. 7    PESTLE analysis
FIG. 8    SWOT Analysis, Robert Bosch GmbH
FIG. 9    SWOT Analysis, ACDelco
FIG. 10    SWOT Analysis, Hyundai Mobis Co., Ltd.
FIG. 11    SWOT Analysis, Toyota Motor Corporation
FIG. 12    SWOT Analysis, Delphi Technologies
FIG. 13    SWOT Analysis, Denso Corporation
FIG. 14    SWOT Analysis, ZF Friedrichshafen AG
FIG. 15    SWOT Analysis, Aisin Seiki Co., Ltd.
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