The report titled
“Automotive
Aftermarket in Australia”, provides a comprehensive analysis of
Australia’s automotive aftermarket, growth of
the sector, major products, leading players, developments, technology and
future of Brazil’s
automotive aftermarket. According to the report Electric car industry statistics will witness an increase in the
battery-powered models in the next few years. This trend may help in the growth
of the Australian automotive aftermarket in the near future. Tesla is going for
a mass-production of electric cars at an affordable range. Majority of the electric
cars will receive a boost in year 2018 from the new Nissan Leaf and Hyundai
Ioniq EV as well as Hyundai’s hydrogen-powered Nexo SUV. BMW and Renault also
initiated electric cars as consumers are more appealing towards electric
vehicles. Volkswagen, Porsche, Mercedes and Volvo also have new models on the
way in the near future as luxury brands are likely to lead the electric automobile
industry. With the drastic growth in the electric cars, the Australian
automotive aftermarket sector will witness a steady growth in the next few
years.
Industry Overview: The automotive
aftermarket is a secondary market in the automotive industry. It
comprises of manufacturing, remanufacturing, distribution, retailing and installation
of all vehicle parts, chemicals, equipment, and accessories. The extra parts and
accessories are not necessarily manufactured by the original equipment
manufacturer. The aftermarket parts
are divided into two categories such as replacement or spare parts and
accessories. The spare parts are automotive parts remanufactured to replace original
equipment parts of an automobile as they become worn out or get damaged after a
period of time. Various automobile accessories are certain parts made for comfort,
convenience, performance, safety, or customization, and are designed for add-on
after the original sale of the motor vehicle. Aftermarket consists of parts
for replacement, collision, appearance, and performance, such as electric
propulsion. It also provides a wide variety of parts of varying qualities and
prices for all types of vehicle and models. Majority of the consumers repairing
their own vehicles themselves or take their vehicle to a professional repair
facility. The aftermarket usually helps the vehicle owners to keep vehicles on
road by providing vehicles services, maintenance, or customized. Automotive aftermarket
in Australian is a national automotive industry association representing vehicle
manufacturers, distributors, wholesalers, importers and retailers of automotive
parts, accessories, tools, equipment, vehicle service, repair and modification
services. The automotive aftermarket in Australian also provides tires,
batteries, collision body parts, oils, lubricants, and others.
Toyota, Holden, and Ford automotives dominate
the Australian automobile industry with their history of manufacturing within the
country. With increasing number of players within the automotive aftermarket
industry, the market share of the major original equipment manufacturer (OEMs) has
slightly started to decline offering more choices to consumer. The average lifetime
of passenger automobiles in Australia is higher compare to the other developed
regions around the world. The leading companies in automotive aftermarket are
Autobarn, Autopro, Burson Auto Parts, Ford, Holden, Repco, Supercheap Auto and Toyota.
Recent
Developments in the Automotive Aftermarket in Australia: The automotive supply chain business in Australia has expected
a collapse in the recent years due to a downtrend in the nation’s car industry.
Australian Toyota has closed its Holden’s Adelaide plant in October 2017 due
to the downtrend. The nation witnessed the death of the car industry recently
and also a critical job situation due to the automotive downtrends. The most
affected are the third-party suppliers, also known as supply chains who
manufacture parts, spare parts of the automobile and its components. The component
makers faced serious job losses because more than half of the top-tier car
component manufacturers closed business. The automotive workers in Australia
are being re-skilled, supply chain firms are diversifying and country is adjusting
into new areas for the growth in the economy.
Australian
automotive aftermarket sector is expecting less revenue over the next few years
due to the shutdown of the car industry. The components segment may expect a
lucrative growth but the overall growth in the next few years will slow down
gradually. As the lifetime of the vehicles in Australia increases consumers will
witness a need for components and services in order to improve the durability
and performance of the automobile. The continuing need of the automotive
aftermarket in Australia will drive the market over the next few years but may
not witness a drastic growth due to a massive downtrend in car industry.
Key Topics
Covered in this Report:
· Australia Automotive Aftermarket
Research Report
·
Australia Automotive Industry
Analysis
·
Australia Automotive Aftermarket
Volume Sales
·
Australia Automotive Aftermarket
Revenue
·
Australia Automotive Aftermarket
Analysis
·
Australia Automotive Aftermarket
Sector Forecast
·
Australia Automotive Aftermarket
Industry Competition
·
Australia Automotive Aftermarket
Industry Future Outlook
·
Australia Automotive Aftermarket
companies
·
Australia automotive Aftermarket
Industry Trends
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Ken Research
Ankur Gupta, Head Marketing &
Communications
0124-4230204
