TechNavio recognizes the following companies as the key players in the Automotive Parts Aftermarket Market in US: Bridgestone Corp., Compagnie Generale des Etablissements Michelin SCA, Continental AG, Cooper Tire & Rubber Co., Magna International Inc., and The Goodyear Tire and Rubber Co.
Commenting on the report, an analyst from TechNavio’s team said: “The Automotive Parts aftermarket in the US is a highly fragmented market. Players in the market include independent companies, OEM-owned dealers, and manufacturer-authorized dealers. The market is also continuing to use the consolidation strategy as a means of increasing competitiveness. Also, the aim to become a desirable supplier has led to the major producers acquiring smaller companies in the market. In addition, falling prices and reduced profit margins have increased market consolidation, which will make it very difficult for small players to stay competitive in the market.”
According to the report, the main factor that is driving the Automotive Parts aftermarket in the US is the low costs associated with these components. The aftermarket parts are relatively cheaper than OE parts, and are, hence, beneficial for end-users. The prices may vary from store to store, and the end-user can check for the best possible price without compromising on product quality. Hence, the affordable nature of aftermarket parts is a major factor which is leading to people opting for these components.
Further, the report states that the main challenge faced by the market is the increasing vulnerability of the US Automotive Parts industry. The US Automotive Parts industry is one of the main industries that support domestic employment, and its vulnerability is proving to be a challenge to the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/automotive-parts-aftermarket-in-the-us-2…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/automotive-and-aerospace
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TechNavio Announces the Publication of its Research Report -Automotive Parts Aftermarket Market in US 2014-2018
