The Canadian Automotive Aftermarket reached a record C$ 22.61 / USD 17.6 Billion in 2018. The Automotive Aftermarket sector of Canada is growing at a CAGR of 2.5% and is expected to reach a market size of USD 20.92 Billion in 2025.
- Definition / Scope
- Market Overview
- Market Risks
- Top Market Opportunities
- Market Drivers
- Market Restraints
- Industry Challenges
- Technology Trends
- Regulatory Trends
- Other Key Market Trends
- Market Size and Forecast
- Market Outlook
- Distribution Chain Analysis
- Competitive Landscape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
Automotive Aftermarket is an allied market of the Automotive Industry involving the manufacturing, remanufacturing, distribution, retailing and installation of all auto parts, equipment, chemicals and accessories after the purchase of the automobile by the customer from the Original Equipment Manufacturer.
The Aftermarket encompasses parts for replacement, appearance, collision and performance, including electric propulsion. The Aftermarket provides a wide variety of spare parts at varying quality levels and pricing for all vehicle makes and models.
Consumers have the option of repairing their vehicles themselves (the "do-it-yourself" or "DIY" segment) or can take the vehicle to a professional repair facility (the "do-it-for me" or "DIFM" segment). The aftermarket helps keep vehicles on the road by providing consumers the choice of where they want their vehicles serviced, maintained, or customized.
In Canada the Automotive Aftermarket is a USD 17.6 Billion Industry that employs about 5,00,000 people.
The Automotive Aftermarket sector is the largest retail sector in Canada ahead of clothing, food, furniture, and pharmaceuticals. The automotive aftermarket encompasses production, re-manufacturing, distribution and retailing of replacement parts, tools, equipment, accessories, chemicals and services used to repair and replace automotive parts and components after their initial production.
Using the NAICS codes, Statistics Canada estimates the retail value of the automotive aftermarket at C$23.1 billion (US$18.5 billion) in 2018. The Automotive Aftermarket market will experience an average annual real growth rate of 3-4 percent forecast for 2018 onward through 2025
The Aftermarket parts are categorized into two categories which includes :
Replacement parts are automotive parts built or remanufactured to replace OE parts after their wear and tear.
Accessories are parts made for comfort, convenience, safety, performance or customization and are designed for add-on after the sale of the automobile.