Automotive Aftermarket MarketAutomotive Aftermarket Market is predicted to witness a promising growth over the forecast period (2020-2027), owing to the ongoing technological innovations and growing competition across the automotive industry.Request For a FREE Sample Report on Automotive Aftermarket MarketRapid digitalization and growing demand of new and second-hand vehicles is the major factor strengthening the automotive aftermarket market. Further, increasing concerns among consumers about the safety and comfort with the adoption of Internet of Things will boost the market growth. With the advent of autonomous driving, the complications in vehicles needing reduced maintenance intervals has increased, surging the automotive aftermarket market share.By replacement part, the tire segment is projected to lead the market over the forecast period, owing to the low substitution cycle of tires over its counterparts. The growing need for comfort and high maintenance of tires among customers will fuel the automotive aftermarket market size.By region, Asia-Pacific region is forecast to expand at a higher CAGR during the forecast period, owing to the expansion across Japan, China, India, and South Korea and the growing production of aftermarket products in the automotive industry. North America is anticipated to hold a larger share over the forecast period, due to the rising safety concerns of vehicles.Leading automotive aftermarket companies in the market include 3M Company, Continental AG, BorgWarner Inc., Tenneco Inc., Marelli Holdings Co., Ltd., Robert Bosch GmbH, The Goodyear Tire & Rubber Company, ZF Friedrichshafen AG, Denso Corporation, and Cooper Tire & Rubber Company, among other companies.Key Developments:In 2020, BorgWarner Inc., a major company offering effective technology solutions for hybrid, combustion, and electric vehicles, adopted Delphi Technologies PLC. This will improve the company’s business portfolio in the automotive aftermarket industry.In 2018, Tenneco Inc., adopted Federal-Mogul Corporation, leading global suppliers of original equipment manufacturers and the aftermarket in automotive industry. This acquisition helped to enhance the product portfolio of the company in the aftermarket products.Automotive Aftermarket Market Segmentation:Automotive Aftermarket Market by Replacement PartTireBatteryBrake PartsFiltersBody PartsLighting & Electronics ComponentsExhaust ComponentTurbochargersOthersAutomotive Aftermarket Market by Distribution ChannelOnlineOfflineAutomotive Aftermarket Market by Region:Asia PacificChinaJapanIndiaRest of APACNorth AmericaUnited States of AmericaCanadaEuropeUnited KingdomGermanyFranceSpainRest of EuropeRoWBrazilSouth AfricaSaudi ArabiaUAEAbout GMI ResearchGMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.Media ContactCompany Name: GMI RESEARCHContact Person: Sarah NashEmail: [email protected]: Europe – +353 1 442 8820; US – +1 860 881 2270Address: Dublin, IrelandWebsite: www.gmiresearch.com