The automotive aftermarket, also known as independent suppliers, her explanation is a sector of the automobile industry that does not rely on large manufacturers to make its profits. In fact, historically the aftermarket has been one of the most recession-resistant sectors of the automotive industry. While global recessions can affect new car sales, they have not affected the aftermarket. Increasing economic pressure may delay purchases of new cars, but it may also lead to an increase in the demand for aftermarket parts and services. Should you have any kind of questions relating to exactly where along with the best way to make use of Car mats, you’ll be able to contact us in our page.
Distribution channels are a key component of the automotive aftermarket. The internet has opened up new distribution channels for these products. Internet retailers send orders to warehouse distributors, who then drop ship them to consumers. Manufacturers are expanding their online presence to bypass traditional distribution channels. As such, her explanation the market in automotive parts is likely to continue growing. But how can companies compete in this automotive aftermarket? Here are some key factors to consider when looking for a partner.
One of the most significant trends in the automotive industry is the rising average age. The average age of the U.S. vehicle fleet was more than 11 years last year. With extended vehicle lifespan, the window for component failure has widened. This has increased the need for aftermarket parts. Another trend is the growing use of the aerospace automotive aftermarket. The trend of increasing the use of the automotive aftermarket in aerospace is expected to continue, as the average age of the fleets of the five largest airlines in the world grew to 12.2 years in 2018.
The automotive industry has evolved to meet changing consumer needs. While digital technologies have greatly changed the way consumers buy cars, a majority of consumers still prefer a physical experience. Consequently, online automotive aftermarket retailers are embracing the omnichannel experience and offering both physical and digital shopping experiences. This is driving a significant transformation in the automotive sector. This is true for the automotive industry as well. The consumer has more options and convenience thanks to digital channels.
North America is expected continue to be the most lucrative region in the automotive aftermarket. North America’s automotive industry is expected to grow by USD 265 billion by 2028. GCC leaders continue to invest in the automobile industry as the region develops. This will increase consumer spending power and create new jobs. It will also help the aftermarket keep up with the growing demand for parts. The automotive aftermarket is poised to grow with an increasing number of drivers.
The automotive aftermarket also includes truck racks and auxiliary lighting. Many aftermarket purchases are made to support the overlanding lifestyle. Typically, overlanders outfit their vehicles with additional accessories and equipment so that they can live off the grid. This type of lifestyle is highly mobile, so storage and protection are essential for the overlander. Companies that offer navigation equipment and pickup-bed crossbar systems are growing in this industry.
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