The automotive aftermarket in Australia involves the manufacturing, remanufacturing, distribution, retailing, and installing of all vehicle parts, chemicals, accessories and tools for repairs and maintenance, excluding labor. The Aftermarket products include tires, batteries, lighting, engine components, vehicle body parts, electronics and facilities maintenance among others. The growing vehicle parc, increasing average age of vehicles and focus on cost-effective maintenance are fueling the demand for aftermarket products in Australia.
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 key players are investing in advanced technology products and establishing distribution networks to strengthen their market position.
The growing vehicle parc in Australia driven by rising incomes is driving the demand for automotive aftermarket products. Additionally, consumers are opting for customized and technology upgraded vehicle parts for better performance and safety.
The global players are expanding their operations in Australia to tap the growth opportunities. Several mergers and acquisitions have been observed as major players focus on geographical expansion plans and enhance their product portfolios.
Market Key Trends
Customization based on advanced technologies is a major trend witnessed in the Australia automotive aftermarket. Integrating tech upgrades like sensor-based and connectivity solutions is gaining popularity among consumers. For instance, TPMS sensor upgrades enables real-time tire pressure monitoring for safety. Similarly, telematics devices facilitate predictive maintenance and lower repair costs. Such technology driven customizations are fueling aftermarket sales while meeting changing customer preferences.
Porter’s Analysis
Threat of new entrants: The automotive aftermarket in Australia is a well-established industry with major suppliers and manufacturers dominating the space making difficult for new players to enter.
Bargaining power of buyers: Car owners in Australia have significant bargaining power as they can choose from a wide range of product options from major brands.
Bargaining power of suppliers: Key suppliers like auto-part manufacturers have some bargaining power over buyers due to their specialized product portfolio and established relationships with OEMs.
Threat of new substitutes: There exist few substitute products for most auto parts with advances in modern vehicle technologies.
Competitive rivalry: The market is highly competitive with focus on new product development, brand positioning, and competitive pricing.
Geographical Regions Where Market Is Concentrated In Terms Of Value
The automotive aftermarket in Australia is highly concentrated in the major urban centres of Sydney, Melbourne, Brisbane, Perth and Adelaide which account for over 70% of the country’s vehicle parc. The density of workshops and availability of skilled labour has made these regions prominent for aftermarket activities.
Fastest Growing Region For The Given Market
It is projected that the region of Western Australia will witness the fastest growth in the automotive aftermarket during the forecast period. This can be attributed to rising vehicle ownership, increasing spending power, establishment of new dealerships and workshops in small cities and towns.
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