The market for automotive aftermarket services is made up of a wide range of companies and products that cater to cars' ongoing maintenance, customization, and repair needs. Distributors of components, independent repair shops, online vendors, and independent service providers are all included. This industry is essential to keeping cars on the road, extending their useful lives, and satisfying the various needs of car owners. The aftermarket sector provides routine maintenance, repairs, replacement parts, diagnostics, and accessory installation. The industry offers a wider range of solutions at more affordable prices, more availability, and more competitive pricing for vehicle owners as compared to original equipment manufacturer (OEM) services and components.
According to SPER market research, ‘Germany Automotive Aftermarket Market Size By Replacement Part, By Distribution Channel, By Certification - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Germany Automotive Aftermarket Market is predicted to reach USD 27.12 billion by 2033 with a CAGR of 1.56%.
Drivers:
Growing automobiles are a factor in the industry's expansion.
The age of cars is the primary factor driving the expansion of the automotive aftermarket industry. Older cars usually need more frequent maintenance and repairs because of the gradual wear and strain on its components. The aftermarket industry benefits from a consistent demand for its replacement parts and services. Among the components of an automobile that deteriorate with time and use are the exhaust systems, tires, and brakes. The requirement for different parts to be replaced in older automobiles is what drives the market.
Challenges:
The German vehicle aftermarket sector is confronted with certain challenges that require careful thought. One of the biggest challenges is the increasing complexity of contemporary autos. Cars need specialized knowledge and equipment for maintenance and repairs due to the complexity of their electronic systems and parts, which is making them more technologically advanced. Due to the intricacy of the rapidly evolving technology, independent garages and aftermarket suppliers may find it challenging to stay up to date and to make the required investments in tools and training.
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Lockdowns have been imposed by German government officials in response to the rising number of coronavirus cases. Government rules have harmed the automotive aftermarket in Germany. The necessary repairs have been pushed off by many, and certain transportation corporations no longer enforce the deadlines for technical supervision and inspections. Fewer individuals are visiting garages, repair shops, and service stations as a result of these developments. Due to the epidemic, German auto retailers reported a 50% drop in business.
The fact that end users are now trying to buy replacement parts online lessens the impact of deadlines and closed workshops. Therefore, it is anticipated that a rise in online auto part sales will create new opportunities for Germany's automotive aftermarket in the case of a pandemic.
Additionally, Some of the market key players are Continental AG, Compagnie Generale des Etablissements Michelin SCA, ZF Friedrichshafen AG, Mobivia, Others.
Germany Automotive Aftermarket Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Replacement Part: Based on the Replacement Part, Germany Automotive Aftermarket Market is segmented as; Bed Tire, Battery, Brake parts, Filters, Body parts, Lighting & Electronic components, Wheels, Exhaust components, Turbochargers, Others.
By Distribution Channel: Based on the Distribution Channel, Germany Automotive Aftermarket Market is segmented as; Supermarkets and Hypermarkets, Specialty Stores, Online, Others.
By Certification: Based on the Certification, Germany Automotive Aftermarket Market is segmented as; Genuine Parts, Certified Parts, Uncertified Parts.
By Region: This research also includes data for Eastern Region, Western Region, Southern Region, Northern Region.
For More Information, refer to below link:-
Germany Automotive Aftermarket Market Outlook
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