Some automobile manufacturers are even recommending longer intervals between standard maintenance services such as oil changes or tire rotations. On the flip side, people do wash new cars more frequently! There are a lot of cars on the road, and keeping them running, keeping them clean and making them your own is big business. This breadth of opportunity and such strong market trends make 2018 an exciting time to get involved! You can see automotive franchises expanding in your area here. Matt Sena is a writer and researcher, a co-founder, a former portfolio manager, a rider and a dad. He earned his mba in Finance from Kellstadt Graduate School of Business while working at Goldman, sachs co). By dietmar Ostermann, doug Harvey, jan Hesse, shan Haque.
Automotive, seating, industry, report
Rentals: Cars, moving trucks and even motorcycles This list scrapes the surface but doesnt even mention some obvious opportunities like gas stations (and now charging stations taxi services, used year car dealerships, detail shops, etc, etc, etc. A few things to keep in mind The increase in complexity of vehicles often requires specialized training. Repair shops can gain an edge by specializing and staying current. However this specialization is leading to a shortage of trained techs in the market. Electric and hybrid cars are bringing new opportunities to market service, parts, and fuel businesses will need to expand to support these trends. Service providers are now able to leverage technology to gain marketing efficiencies. For example, timely reminders about snow tires and oil changes have already proven to provide an uptick in return business. New cars are getting more personal reliable. Improvements in technology and materials are increasing useful life and requiring fewer services. New cars, in other words, are able to last longer with less money spent in aftermarket services.
Though the growth has plateaued with improving economic conditions this average is still increasing and was expected to reach.7 years by 2017. Opportunities, the automotive industry is a huge, diverse set of manufacturing and service businesses that bring cars and trucks to market, keep them in working order, paint, clean, fix and even trash them when its time. While there are often interesting business opportunities short at the auto dealership level, its generally after the cars are sold that things get really exciting for those interested in franchising. A few examples: Service work - maintenance or general repair: Specialty shops performing transmission work, repeatable oil change service, collision and more. For the professional or home mechanic: Snap-on, mac tools many more. Glass replacement: Repair and decorative services Car washes: Traditional and eco friendly! Miscellaneous: Driving lessons, a video game party truck and rubbish removal.
In 2015 there were 257.9 million passenger vehicles registered in the United States, an increase.3 million (2.3) over 2014. As mentioned the number of cars per licensed driver now stands.1 and has been increasing steadily since 1972. The scrappage rate - the rate at which cars are taken off the road - has also been declining with only.4 writing million cars retired in 2014. Fewer cars are being unregistered, abandoned, or junked. In 2015, new vehicle registrations was greater than scrappage by 42 - the highest number recorded by the. The fleet is getting older. In 2015 the average age of registered vehicles was.5 years old and has been increasing steadily since the Great Recession. With more than 70 of the population driving to work, folks need their car. Cant live without one and cant buy a spondylolisthesis new one - you better keep the one you have running.
Us gross Domestic Product. It is estimated that over.2 million people work in the industry and growth is expected. The aftermarket industry is strong! Chief among the reasons for this strength: the large and growing fleet of vehicles and their high average age. Older cars need more care and an aging and older national fleet is great news for aftermarket providers. The value of the repair/replacement market for vehicles 0-4 years old.7 billion, but the value of the aftermarket for those 8 or more years old is a whopping.3 billion. The fleet is growing.
Automotive, pcb, industry, analysis market
Auto Industry overview, automobiles are complex machines that increasingly include sophisticated computers. They are absolutely essential to the majority of masters the working population, and are frequently a point of pride for their owners. They require both regular and emergency service, replacement parts, paint, cleaning, stereo presentation system installations and a whole lot more. The automotive aftermarket provides these parts and services, and largely flourishes during economic uncertainty. When people arent buying new cars they are keeping older cars longer. The average age of vehicles in the United States is high - and has been climbing steadily over the last several years. Even new cars require regular service but as they age they require more care and they break down more frequently.
Service stations and parts retailers both benefit. And there are a lot of cars on the road: more than 1 car for every American over 16 years old. Those of us that only only one are bringing down the average! With the return of economic stability, new car sales have been increasing as well - but the aftermarket remains strong. More new cars hitting the road plus cars are getting older (but staying registered) has these aftermarket businesses running hot. The, autocare Association estimated that the us automotive aftermarket would be worth 273.4 billion in 2017 - an increase of almost 35 billion in just four years. This puts the aftermarket between.5 and 2 of the.
Report Scope, attribute, details, base year for estimation 2015. Actual estimates/Historical data, forecast period, market representation, revenue in usd billion, and cagr from 2016 to 2025. Regional scope, north America, europe, asia pacific, south America, and Middle east africa. S., canada, mexico, germany, uk, china, japan, India, and Brazil. Report coverage, revenue forecast, company share, competitive landscape, growth factors, and trends 15 free customization scope (equivalent to 5 analyst working days). If you need specific market information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Segments covered in the report, this report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2016 to 2025. For the purpose of this study, grand view Research has segmented the wholesale distribution automotive aftermarket based on replacement parts and regions. Replacement Parts Outlook (revenue, usd billion; ). Tire, battery, brake parts, filters, body parts, lighting electronic Components. Wheels, exhaust Components, others, regional Outlook (revenue, usd billion; ) North America. Canada mexico europe germany uk asia pacific China japan India south America Brazil mea. Get your motor running, during the Great Recession of many people felt that the end of the American automobile industry was upon. But while that real risk was narrowly avoided for the automobile manufacturing industry, what most people dont think about is the massive industry that comes after the car is manufactured and sold. The automotive aftermarket, as opposed to the sales of new cars, performed extremely well during that economic downturn - and is continuing to do so today.
China, automotive, industry, outbound Investment, report
The increasing vehicle penetration is driven by the overall improvement in lifestyles in developing countries, such as India and Brazil. This is expected to drive the growth of the automobile industry in the region. A surge in automotive manufacturing across various regions, along with increasingly stringent norms regarding emissions, is expected to drive the growth of the automotive aftermarket sales over the forecast period. Competitive insights, key industry participants in the market include 3M (U.S. continental ag (Germany delphi automotive plc (uk denso corporation (Japan and Federal-Mogul Corporation (U.S.). Key players in the market have adopted the strategy of mergers acquisitions to expand their product and service portfolios. For instance, in 2016 Denso corporation entered into a joint venture with toyota Tsusho to form toyota Tsusho denso Electronics Thailand., Ltd. The joint venture aimed at developing software to improve the efficiency of the engine electronic control unit.
Customers are also keen on replacing gas various accessories of vehicles, such as body parts, lighting electronic components, wheels, and more. These replacements enhance the performance and appearance of the vehicle. Regional Insights, the growth in the global automotive aftermarket is directly related to the growth of the global automobiles market. In developing regions, such as Asia pacific, south America, and the middle east, a surge in the usage of passenger vehicles is anticipated over the next decade, thereby bolstering the growth of the automotive aftermarket. Wholesale distribution automotive aftermarket by region, 2016. In the emerging markets of Brazil, russia, india, china, and south Africa (brics a greater e-commerce participation has been observed in the automotive aftermarket. This trend is likely to increase over the forecast period.
each time a brake is applied. The vehicle often experiences stoppages in traffic, which results in the faster wear and tear of brakes. Additionally, the weight and size of a vehicle are also responsible for affecting the brake pads. The auto filter prevents harmful debris from entering into the air and fluid flows of the vehicle, such as radiator, engine, and fuel lines. Over the period, filters undergo aging and get contaminated with debris and pollutants. This leads to decreased performance and damages various parts of the vehicle.
Servicing and repairing aggregation has emerged as a popular choice among customers, leading to technological advancements in the automotive sector. Technical information along with coding teresa parts are not freely available to aftermarket for carrying out maintenance and repair, due to which the growth of independent workshops is hampered. The manufacturers of aftermarket replacement components face a great risk from counterfeit automotive component manufacturers. These manufacturers design a fraudulent imitation of original auto-components, thereby hampering the life of automobiles alongside threatening passenger safety. Replacement Part Insights, tires are one of the first automotive parts that need replacement due to friction and wear tear. The average age of vehicles is increasing due to technological advancements. As a result, an increasing need for replacement parts, especially tires, has been observed.
Automotive industry risk thomson reuters
Industry Insights, the global wholesale and distribution automotive aftermarket size was valued at usd 150.58 billion in 2015. The automotive aftermarket is the secondary commercial channel of the automotive sector. Once vehicles are sold by Original Equipment Manufacturers (OEMs they require replacement parts, servicing items, and accessories for failed or damaged components throughout their life. Aftermarket parts are manufactured by oems and other manufacturers who supply them to bill oems. Due to higher dependability, the aftermarket parts industry is dependent on the changing trends in the primary automotive industry. Stringent production norms have led automotive vendors to improvise and optimize their techniques and introduce advanced technologies and innovations to their products in a bid to reduce automobile production costs. With the increasing sales of automobiles worldwide, the demand for automotive collision repair is expected to grow. Wholesale distribution automotive aftermarket by replacement parts, (usd million).