Europe Automotive Aftermarket Market 2021-2026

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    EUROPE AUTOMOTIVE AFTERMARKET MARKET

     

    INTRODUCTION

    Aftermarket operations encompass all activities connected to servicing a vehicle after its initial sale and until the end of its lifespan. The operations in question are also known as aftermarket parts and services.

     

    The word “aftermarket” refers to any components and services acquired for light- and heavy-duty vehicles after the original sale, such as replacement parts, accessories, lubricants, appearance items, and service repairs. This term also covers any extra creative services that aid in optimising the vehicle’s utilisation.

     

    Innovative services, such as telematics and mobility service packages, provide additional options to increase company and revenue while accounting for a rising proportion of the aftermarket.

     

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    These services are rapidly being incorporated into new technology. In addition to more complicated parts, they can compensate for the falling proportion of traditional parts, repair, and maintenance services over the lifespan of a car owing to improved overall quality and dependability of automobiles and parts.

     

    Autonomous cars would make use of all of the possibilities of shared vehicles. If those shared automobiles are still operated by individuals, just 50 to 60 percent of their potential will be realised.

     

    Inefficiencies in logistics are unavoidable. Because autonomous cars do not require a human driver, they will eliminate bottlenecks. The person behind the wheel is undoubtedly the most expensive aspect of a shared trip service.

     

    The savings would be remarkable if the driver was replaced by millions of lines of code and some commoditized sensors. The advantages would be realised in the form of fewer deaths, increased productivity, reduced traffic congestion, and fuel savings.

     

    EUROPE AUTOMOTIVE AFTERMARKET MARKET DYNAMICS

    In the European aftermarket car parts sector, competition occurs through two channels: the approved channel and the independent aftermarket, or IAM. Automakers, or OEMs, and their connected repair businesses, generally dealers, comprise the approved channel.

     

    Automakers collaborate with Tier-1 suppliers to manufacture components that are supplied through the OEMs’ sales network and utilised for repairs and maintenance by authorised workshops.

     

    The independent aftermarket is made up of repairers who are not tied to a certain car manufacturer. They provide parts and services for a variety of brands. This market’s suppliers rely on wholesale distributors to distribute components to repair shops.

     

    The digitization of component delivery sales and services, as well as the launch of an online portal selling aftermarket components in collaboration with major auto-part supplier groups, are likely to attract significant investments from important parties.

     

    Leading industry component providers, such as US Auto Parts Network, Inc. and CarParts.com, for example, will fuel worldwide market demand in the coming years.

     

    The online aftermarket companies arcade has a significant potential in emerging nations due to the aforementioned trade gateways. Furthermore, rising online sales of automotive components are expected to drive substantial market demand.

     

    Electric drivetrains, which need less maintenance, are being included into vehicle architectures. People are driving fewer miles. Driver assistance technology will help to decrease crashes and, as a result, the demand for replacement parts.

     

    New players and new sales tools will raise the stakes. Although business is recovering from the epidemic and will expand for both independent aftermarket firms and OEMs and authorised retailers, ongoing market change and increased competition have placed enterprises at a crossroads.

     

    Because of the increasing technical complexity, firms providing the independent aftermarket sales channel face the greatest risk.

     

    EUROPE AUTOMOTIVE AFTERMARKET MARKET SEGMENTATION

    The Europe Automotive Aftermarket Market can be segmented into following categories for further analysis.

    By Usage Part Type

    • Tires
    • Battery
    • Brake Parts
    • Filters
    • Body Parts
    • Lighting and Electronic Components
    • Wheels
    • Exhaust Components
    • Turbochargers

     

    By Vehicle Classification

    • Passenger Cars
    • LCV
    • HCV
    • Motorcycle

     

    By Product Sales Conveyance

    • Retailers
    • Repair Shops
    • Wholesalers
    • Distributors

     

    RECENT TECHNOLOGICAL TRENDS IN EUROPE AUTOMOTIVE AFTERMARKET MARKET

    Machines are made up of moving pieces that interact with one another. Because of the shift from internal combustion engines to autonomous, connected, electric, and sharing (ACES) cars, many CEOs are being forced to make critical long-term choices in the near term.

     

    ACES, for example, necessitates a significantly different set of parts and accompanying maintenance services. Executives must determine when to begin supporting ACES. Automobile aftermarket companies now have little access to end customers.

     

    Online access, on the other hand, is becoming more popular, while commerce in brick-and-mortar businesses is declining. To get critical insight into demand, aftermarket suppliers must collect data on the actions and behaviours of their online consumers.

     

    Analytics and big data for predicted demand sensing/reliability – Big data refers to huge amounts of organised and unstructured data that are available within a company. Data analytics encompasses all of the activities and techniques used to evaluate huge amounts of big data in order to better understand the internal and external ecosystems.

     

    While big data analytics can improve end-to-end supply chain operations from inventory forecasting to pricing, it also necessitates cohesive integration across various functions and teams along the value chain so that the data generated by these functions and teams can be analyses for quality demand forecasting.

     

    Telematics and a lot for improved reliability and agility – Telematics employs gadgets that measure activities and occurrences in a vehicle and communicates this data to a remote server through wireless connections.

     

    Telematics makes use of a variety of technologies, including GPS navigation, traffic information, entertainment, and crisis help. More significantly, it makes use of car diagnostics and dealer service connections, which is very useful in the automobile aftermarket.

     

    The Internet of Things (IoT) is a network of physical things such as gadgets, cars, and buildings that are equipped with sensors and utilise software and Internet access to gather and share data with other objects.

     

    EUROPE AUTOMOTIVE AFTERMARKET MARKET COMPETITIVE LANDSCAPE

    The aftermarket is on the verge of a re-enactment of the battle between the two channels over business practises and rules that erupted a decade ago. That fight was about requiring consumers to use approved workshops due to warranty restrictions.

     

    The battleground has shifted to technology. The 2010 Motor Vehicle Block Exemption Regulation (MVBER) of the European Union permitted automakers to legally tie vehicle dealers to a single brand.

     

    However, the legislation also banned OEMs from compelling consumers to utilise approved repair shops by threatening warranty loss, imposing unreasonable requirements for warranty-related services, or prohibiting their Tier 1 suppliers from selling spare parts in the independent aftermarket.

     

    Bosch Aftermarket is one of the most prominent aftermarket services in the current global operations scenario with its major focus of availability paced under all of the European nations.

     

    Bosch diagnostic solutions aid in the safe and reliable execution of diagnostics, the identification and correction of faults, and the maintenance and repair of cars.

     

    You are constantly up to date with the ESI [tronic] diagnostic software and the control unit tests from Bosch with the large and up-to-current vehicle and system databases, as well as repair and maintenance information (RMI).

     

    As with previous editions, ESI [tronic] provides you with the most recent, comprehensive information and instructions from Bosch for car diagnostics, troubleshooting, and repairs.

     

    Maintenance and circuit diagrams, all main diagnostic functions, repair and troubleshooting instructions, manuals, vehicle data, and experience-based repair cases (EBR) for over 150 vehicle models are constantly up to date with ESI [tronic] 2.0 Online.

     

    Schaeffler International is part of the automotive aftermarket with various components brought under the solutions alongside possible diagnostic solutions. Schaeffler invented a new form of chain that is still used in the market today.

     

    The innovative plate-link chain transmits high torque while being more efficient than traditional push-belts. This Schaeffler invention also spans the full torque range from tiny automobiles to the upper middle class due to its modular architecture.

     

    Modern CVT gearboxes are extremely efficient and impress with a high degree of driving comfort, as the engine may always be run in the optimum range, due to the constant conversion of engine speed and torque.

     

    Another benefit is that the absence of the tractive power interruption during gear changes improves driving pleasure. The only repair option for CVT automatic gearboxes – complete with plate-link chain and appropriate sliding rail.

     

    The RepSet is first offered for Volkswagen Group Multitronic gearboxes. These automatic gearboxes are now found in vehicles manufactured by Audi and Seat, among others.

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    EUROPE AUTOMOTIVE AFTERMARKET MARKET COMPANIES PROFILED

     

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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