The Global automotive aftermarket market is expected to reach more than USD 519 billion by 2026 with a CAGR of 4% during the forecast period as per a new study released by Polaris Market Research. The report “Automotive Aftermarket [By Product (Tire, Wheels, Battery, Lighting Components, Exhaust Components, Body Parts, Accessories, Telematics, and Others); By Sales Channel (OEM, Professional Service Stations); By Vehicle Type (Passenger Vehicles, Commercial Vehicles); By Region]: Market size & Forecast, 2017 – 2026”. provides an extensive analysis of present market dynamics and predicted future trends.
In 2017, the tire segment accounted for the majority revenue share in the global market. The key factor driving the market include expanding the global automotive industry and the rising average age of vehicles. The growing awareness about proper maintenance and repair of vehicles is expected to propel the demand in the coming years. Other factors boosting the market growth include technological advancements in telematics, greater need for long distance travel, and changing lifestyles. New emerging markets, sale through online channels, and emerging consumer demographics are expected to offer a new avenue for growth in the coming years.
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The competition is high in automotive aftermarket market owing to the presence of a large number of industry players and the players offer products and services required for repair and maintenance for a wide range of vans, trucks, cars, and buses. The factor such as price, quality, vehicle age, and convenience affect consumer buying behavior.
High investment in research and development is expected to open a new avenue for growth during the forecast period. The demand for replaceable parts and accessories such as clutch systems, axle, and engine parts is gaining owing to wear and tear of vehicles. Increase in the number of accidents has also propelled the demand.
In 2017, North America dominated the global market as to the presence of a large customer base with high disposable income and high demand for replaceable vehicle’s parts. Asia-pacific is anticipated to witness the highest growth rate during the forecast period owing to rising demand form the developing nation such as China and India and the expansion of global players. The rise in living standards and high disposable income is expected to boost the market growth in the coming year in the region. The factors such as poor road infrastructure and favorable production regulations, in developing nations such as India, and Pakistan are estimated to drive the demand during the forecast period.
The automotive aftermarket can be classified based on products into tire, battery, wheels, exhaust components, lighting, telematics, accessories, body parts, and others. The tire segment is expected to dominate the market during the forecast period. Tires require periodic replacement as external factors easily damage them. The radial tire is gaining popularity as to properties such as higher durability, low rolling resistance, and enhanced service.
The market is segmented based on vehicle type into passenger vehicles, and commercial vehicles. The growing demand for passenger vehicles in developing regions such as India, China, and Brazil is expected to provide numerous growth opportunities in the coming years. Commercial vehicles are mostly used for activities such as industrial, mining and construction, and logistics. These vehicles require frequent repair and maintenance and create a market for replaceable products.
The major vendors profiled in the report include Denso Corporation, Royal Dutch Shell PLC, Exide Technologies, Inc., Johnsons Controls Inc., Delphi Automotive PLC, 3M Company, Goodyear Tire & Rubber Company, Magneti Marelli S.p.A, Cooper Tire & Rubber Company, and Robert Bosch GmbH, among others. These vendors are involved in strategic initiatives such as new product development, merger and acquisition, and collaboration with other market leaders to meet the increasing needs and requirements of consumers.
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New York, NY 01 Mar 2021: The global automotive aftermarket market is expected to reach more than USD 519 billion by 2026 with a CAGR of 4% during the forecast period as per a new study released by Polaris Market Research.
The report “Automotive Aftermarket [By Product (Tire, Wheels, Battery, Lighting Components, Exhaust Components, Body Parts, Accessories, Telematics, and Others); By Sales Channel (OEM, Professional Service Stations); By Vehicle Type (Passenger Vehicles, Commercial Vehicles); By Region]: Market size & Forecast, 2017 – 2026”.
The growing awareness about proper maintenance and repair of vehicles is expected to propel the demand in the coming years.
New emerging markets, sale through online channels, and emerging consumer demographics are expected to offer a new avenue for growth in the coming years.
Asia-pacific is anticipated to witness the highest growth rate during the forecast period owing to rising demand form the developing nation such as China and India and the expansion of global players.
The factors such as poor road infrastructure and favorable production regulations, in developing nations such as India, and Pakistan are estimated to drive the demand during the forecast period.
The global automotive aftermarket market is expected to reach more than USD 519 billion by 2026 with a CAGR of 4% during the forecast period as per a new study released by Polaris Market Research.
The report “Automotive Aftermarket [By Product (Tire, Wheels, Battery, Lighting Components, Exhaust Components, Body Parts, Accessories, Telematics, and Others); By Sales Channel (OEM, Professional Service Stations); By Vehicle Type (Passenger Vehicles, Commercial Vehicles); By Region]: Market size & Forecast, 2017 – 2026”.
The growing awareness about proper maintenance and repair of vehicles is expected to propel the demand in the coming years.
New emerging markets, sale through online channels, and emerging consumer demographics are expected to offer a new avenue for growth in the coming years.Request for sample of this research report @ https://www.polarismarketresearch.com/industry-analysis/automotive-aftermarket-market/request-for-sampleThe competition is high in automotive aftermarket market owing to the presence of a large number of industry players and the players offer products and services required for repair and maintenance for a wide range of vans, trucks, cars, and buses.
The factors such as poor road infrastructure and favorable production regulations, in developing nations such as India, and Pakistan are estimated to drive the demand during the forecast period.Browse summary of this report with TOC @ https://www.polarismarketresearch.com/industry-analysis/automotive-aftermarket-marketThe automotive aftermarket can be classified based on products into tire, battery, wheels, exhaust components, lighting, telematics, accessories, body parts, and others.
The radial tire is gaining popularity as to properties such as higher durability, low rolling resistance, and enhanced service.The market is segmented based on vehicle type into passenger vehicles, and commercial vehicles.
Digital ID solutions make traveling through the airport more enjoyable and boost up passengers’ trust in airline services.
Check-in, security checks, and dwell times will determine the overall experience of passengers.From distributing tickets on different online channels to pre-check-in by mobile devices to the airport's design and layout, the airline industry strives to shorten check-in time and increase the level of passengers' "relaxation".While security and authentication checks are required and cannot be cut down due to the security factor of counter-terrorism, airlines and airports can certainly speed up processes.The modern aviation industry keeps an eye on cutting-edge technologies to streamline the identification and authentication process.
With robust blockchain digital ID solutions in optimizing identity authentication processes, airlines and travel service providers can interact and exchange data with customers in a safe, tamper-proof and reliable way at a global scale.Typical of passengers' journey, related to security checks, at the airport terminalApart from ticket retailers, customers need to interact and provide their identity information to other centralized systems during their journey through the airport.- At the Departure Station, passenger identity information is required for check-in and baggage drop as well as security and immigration (with international travel).
They will then wait in the lounge or duty-free shopping area before boarding.- At the Arrive Station, after disembarkation, identity information is again required during security and immigration (with international travel), baggage pick-up and bag code check on ticket stubs process, and when clearing customs before leaving the airport terminal.Blockchain digital ID solutions for identity management in the airline industryWhen the decentralized identity management solution - digital ID on blockchain - for the aviation industry comes into play, it creates more seamless links in the customer experience and the way networks interact.
The networks in this blockchain system will include specific groups of services related to aviation operations, including:- Passengers and governments agencies network (for issuing visa/passport)- Airports networkAirport security services network- IoT network for all devices at the airports- Ground handling service network- Customs Department network- Retailers and Financial services networkExcept for the Passenger network and Government Agencies, all other networks require only digital ID evidence to each stage of passenger movement within airports.
Customer data privacy and security are guaranteed with digital ID solutions.Why should the airline industry consider decentralized identity?
According to a new report published by Allied Market Research, titled, “Luxury Sunglass Market by Product Type, Frame Material, End User and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global luxury sunglass market size was valued at $4.1 Billion in 2020, and is expected to garner $6.9 billion by 2030, registering a CAGR of 5.5% from 2021 to 2030.
Extended exposure to sunlight may cause cataracts, macular degeneration, cataracts, pterygium, and photokeratitis.
The internet, the on-going trend of digitization, and social media platforms are a few factors expected to play a significant role in the global sunglass market growth in the future.
Increase in urbanization and growth of the middle class consumers in developing and developed markets have encouraged the adoption of convenience-oriented lifestyles, making luxury sunglasses more desirable for all age group people especially for youngsters.
Moreover, rise in trend of usage of luxury sunglasses with retro cat-eye lenses, round & transparent lenses, sunglasses with a chain, hexagon lenses, and visor sunglasses drives the growth of the luxury sunglass market.
In addition, increase in interest of children, teens, and adults toward sports activities augments the luxury sunglass market growth.According to the luxury sunglass market analysis, the market is segmented into product type, frame material, end user, distribution channel, and region.
