Despite a drop in vehicle sales in recent years, the automotive industry is expected to continue to grow in the coming years. This Internet page is because of regulations that encourage driving and reduce car density. According to estimates, in Seattle and San Francisco, vehicle collisions have declined by as much as 50 percent in the last two years. Similar trends were observed in Europe. The strong performance in China, the largest market for automobiles, could mask the effect of the slowdown elsewhere. Should you have any kind of queries concerning exactly where and the best way to utilize Hyundai Car Mats, it is possible to contact us at the page.
The automotive aftermarket sector is highly competitive and has many players. This industry includes independent manufacturers, distributors and marketers, retailers, as well as auto repair shops. Over 4,600 companies operate in this market, which has an estimated 280 million vehicles. In addition to the U.S., there are roughly 23,000 automobile repair businesses in Canada. This Internet page diversity and competitivity are driving innovation in the aftermarket.
E-commerce is revolutionizing the automotive aftermarket. Several consumer and business brands have already migrated to online shopping for parts. These players will likely offer an omnichannel model comparable to retailers. Increased affinity for buying online may create opportunities for new service options and business models in the automotive aftermarket. The following are some ways that the ecommerce revolution can help the automotive market. Explore these trends to find the latest trends in the automotive industry.
Automotive aftermarket is a huge business for both car dealers and manufacturers. Recent estimates indicate that U.S. lightduty automotive parts will exceed $290 billion by 2021. This will continue to grow due to increased awareness regarding scheduled vehicle servicing. Service providers are expanding their distribution networks in order to meet the growing demand of the industry. In fact, the automotive aftermarket is set to grow at a rate of 4% a year.
In addition to parts, the automotive aftermarket also includes accessories and upgrades for automobiles. Aftermarket purchases are most popular for wheels and tires, body armor, suspension upgrades, or suspension modifications. These accessories include auxiliary lighting, storage, and recovery gear. Overlanding is a new field that emphasizes protection and navigation. These are not the only upgrades available to aftermarket customers. According to the Specialty Equipment Market Association blacked out interiors are also on the rise.
More than 4 million Americans work in the automotive aftermarket. It includes car dealers, auto parts manufacturers, wholesale distributors and auto tire shops. This industry will see a 5% decline in the number of jobs. Despite the slowdown in the auto industry, it is projected that personal consumption of automotive parts will increase by 8% by the end of 2020, and the entire aftermarket will generate $439 billion in 2022.
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