by The automotive aftermarket in Australia refers to the secondary market of the automotive industry that manufactures, remanufactures, distributes, retails and installs automobile parts and components to repair, service or maintain vehicles post delivery. Automotive aftermarket plays a crucial role in enhancing vehicle performance as well as ensuring passenger safety. Demand for both wear and tear components as well as crash replacement parts is increasing in the country owing to rising vehicle age and miles traveled. Also, the comprehensive service, maintenance and repair provided by automotive aftermarket distributors and retailers help increase vehicle lifecycle.
Australia Automotive Aftermarket Market is estimated to be valued at US$ 9.88 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the Australia Automotive Aftermarket are Denso Corporation, Hella KGaA Hueck & Co., Continental AG, Delphi Automotive, ACDelco and Among Others. The automotive aftermarket industry in Australia offers ample opportunities for players to expand their businesses. Rising vehicle parc, increasing average age of vehicles and miles traveled are driving demand for replacement parts and repairs. The key players are focused on strategic investments and partnerships to enhance their market presence.
The automotive aftermarket industry in Australia offers opportunities for considerable market penetration through broadening and enhancing digital offerings. There is an increased focus on developing advanced telematics systems, digital value-added services and multi-channel marketing strategies to drive aftersales revenue.
The growing automotive industry globally has encouraged key stakeholders to expand their footprint in other regions. Companies based in Australia are exploring opportunities outside their domestic market by collaborating with local players and developing alliances. Partnerships with regional distributors help strengthen international supply chains and service networks.
Market Drivers
One of the key drivers for the Australia automotive aftermarket industry is the increasing vehicle parc. Over the past few years, both commercial and private vehicle ownership has witnessed strong growth on the back of rising incomes and higher mobility needs. As the fleet ages, demand for replacement components increases, benefiting industry participants. The average vehicle age presently stands at over 10 years, generating strong demand for repairs, remanufacturing and components.
PEST Analysis
Political: Australia’s local regulations and political instability can impact the automotive aftermarket market. Strict emission norms boost demand for advanced components.
Economic: Rising income levels and growing vehicle fleet increase aftermarket spending. Changing economic conditions and fluctuations impact sales.
Social: Increasing vehicle ownership and preference for high-quality components drive the market. Awareness about vehicle maintenance boosts aftermarket component replacement.
Technological: Developments in electronics, advanced materials, and connectivity enable innovative aftermarket products. Automation, AI, and data analytics create new opportunities.
Australia’s most populous regions like Sydney, Melbourne, Brisbane, Perth, and Adelaide account for over 70% of the total automotive aftermarket market value in the country. These capital cities and surrounding areas have a large consumer base and well-established automotive service networks. Other major population centers like Gold Coast, Newcastle, and the surrounding regions are also significant markets.
The fastest growing region for the Australia automotive aftermarket market is anticipated to be Western Australia led by Perth as its capital. Rising vehicle fleet, improving economic conditions, urbanization, and higher spending on mobility are fueling aftermarket growth. Investments in mining and resources industries are increasing disposable incomes. This enables higher vehicle ownership and spending on repairs and replacement parts.
What Are The Key Data Covered In This Australia Automotive Aftermarket Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Australia Automotive Aftermarket’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Australia Automotive Aftermarket and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Australia Automotive Aftermarket Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Australia Automotive Aftermarket vendors
FAQ’s
Q.1 What are the main factors influencing the Australia Automotive Aftermarket?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Australia Automotive Aftermarket companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Australia Automotive Aftermarket’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
