marketresearchfuture

  Market overview: The Aftermarket car parts industry  was valued at USD 383.15 billion in 2020 and is expected to grow at a CAGR of 4 % from 20 23  to 20 30 , reaching USD 513.86 billion by 20 30 . The primary factor driving market growth is increasing consumer awareness about maintenance and repair to improve the age of vehicles due to an increase in consumer disposable income, the demand for making new vehicles with reduced fuel utilization due to increased government initiatives with more stringent emission norms increases the demand for automotive parts. Vehicles' average lifespan has increased due to advancements in materials and manufacturing techniques used in vehicle production. Vehicles' uncompromising quality has also improved. As vehicles age, the demand for replacement parts, repair, and maintenance drives the Aftermarket car parts industry 's  growth. With the advancement of technology, equipment is now equipped with sensors, and minor wear and tear of vehicle

  Market overview: The Aftermarket car parts industry was valued at USD 383.15 billion in 2020 and is expected to grow at a CAGR of 4% from 2023 to 2030, reaching USD 513.86 billion by 2030. The demand for automotive parts is primarily driven by rising consumer awareness of maintenance and repair to extend the life of vehicles due to rising disposable income among consumers and the demand for new vehicles with lower fuel consumption due to rising government initiatives with stricter emission standards. The improvement in materials and manufacturing methods utilised in the manufacture of vehicles has led to an increase in the average lifespan of vehicles. Uncompromising vehicle quality has also increased. The aftermarket auto parts market is expanding as a result of a rising need for replacement components, repairs, and maintenance as vehicles get older. The market won't stagnate because of minor wear and tear of car parts because technology has advanced to the point where equipm