The ASEAN automotive aftermarket is expected to expand its roots at a solid CAGR of 8. 5% during the forecasted period. The market is expected to generate a profit of $24. 56 billion in 2023, while it is expected to exceed $55. 53 billion through 2033.
Between 2023 and 2033, Thailand will grow by 7. 6% in the ASEAN automotive aftermarket. The expansion of the automotive sector following the discovery of the COVID-19 virus is the cause of this increase. Thailand-based automotive spare parts market factors and Japanese auto spare parts are witnessing market expansion.
Companies across the country unveiled their mobility solutions, which come complete for any application center. In addition, the tight maintenance budget after car purchase encourages end-users to ditch OEM responses and opt for aftermarket automotive solutions.
The monetary situation of Americans is improving, and the expansion of foreign automakers into the ASEAN domain has turned it into a market. Rising maintenance prices and expensive OEM auto parts are driving end-users to look for alternatives. In addition, the long list of factors is divided into categories based on the quality of the materials, their size, and their price.
Key Findings of the ASEAN Automotive Aftermarket Report:
Competitive Aftermarket:
What does it evaluate?
ASEAN Automotive Aftermarket Segmentation:
Category Type:
By Type:
By country:
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner, and member of the New York Chamber of Commerce) provides deep insight into the drivers driving market demand. FMI is the world’s leading provider of market intelligence, consulting and advice. and event facilities in the packaging, food and beverage, consumer, technology, healthcare, commercial, and chemical markets. With an extensive team of more than 400 analysts worldwide, FMI provides global, regional and local expertise in industry spaces and trends in more than 110 countries.
Contact us:
Nandini Singh Sawlani
The Associate Vice President of Future Market Insights is deeply committed to uncovering actionable insights for customers and food and beverage stakeholders. It brings a combination of analytics, industry trends, and customer habits to put knowledge into perspective.
What you do with knowledge becomes a pleasure to read. She is a reviewer and contributor to publications such as Process Industry Informer and Spinal Surgery News as she understands the pulse of the market and the conversion of customer preferences.
He likes to invite experts to a panel discussion to assess the effect of a trend on an industry. Read their discussion on the effect of AI on packaging.