The Market value of Catalytic Converters sold via Autocentres channel in United States of America attained a value of Euro 418.60 Million in 2020
The indicator recorded a historical decline (CAGR) of 9.42% between 2017 to 2020, and is expected to grow by...
GlobalData projects the indicator to grow at a CAGR of...
The US automotive aftermarket sector overview
The Automotive Aftermarket sector includes the sale of automotive components for use on vehicles after first purchase. The components include: Air Filters, Alloy Wheels, Alternators, Antifreeze Or Coolant, Bonnets, Brake Discs, Brake Drums, Brake Pads, Brake Shoes, Bumpers, Cabin Filters, Catalytic Converters, Clutches, Diesel Filters, Doors, Exhaust Systems, Floor Mats, Glass, Glow Plugs, In Car Entertainment, Light Housings, Oil, Oil Filters, Paints And Solvents, Petrol Filters, Radiators, Roof Bars, Roofboxes, Satellite Navigation, Shock Absorbers, Spark Plugs, Starter Batteries, Starter Motors, Tow Bars, Tyres, Windscreen Wash, Windscreen Wiper Blades, and Wings.
Impact of COVID-19 on the automotive aftermarket sector in the US
The market’s decline in 2020 was largely due to the COVID-19 pandemic, which caused significant lead times for cars, resulting in a decline in new vehicle sales. A global semiconductor shortage exacerbated supply chain issues and led to shortages of components for car manufacturing. This resulted in significantly reduced demand in the automotive aftermarket, as the sale of cars and servicing/maintenance for cars are highly correlated. The market’s growth in 2021 was driven by a substantial rise in the sale of used cars, as consumers moved away from new cars due to higher prices and long lead times. As older cars require more frequent services and are more likely to require replacement parts, an increased the sale of older cars facilitated growth in the automotive aftermarket, through increased demand.
Who are the leading players?
AutoZone is engaged in the retailing and distribution of automotive replacement parts and accessories. The company's stores offer a number of products, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products, for cars, sport utility vehicles, vans and light trucks.
O’Reilly Automotive is a specialty retailer of automotive aftermarket parts, tools, supplies, equipment and accessories. The company's stores offer DIY and professional service provider customers a selection of brand name, house brand and private label products for domestic and imported automobiles, vans, and trucks. The firm recorded notable revenue and a great profit in 2020.
Advance Auto Parts (AAP) is a US retailer which operates stores that offer a broad selection of automotive replacement parts, accessories, batteries and maintenance items for vehicles. The company serves professional and DIY customers through an integrated channel of stores under different names: Advance Auto Parts, Autopart International (AI), Carquest and Worldpac.
Genuine Parts Company is a distributor of automotive replacement parts, industrial parts, business products and electrical/electronic materials. The firm markets through its brands Sparco, Compucessory, Lorell, NatureSaver, Elite Image, and Integra, among others.
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