Mobile Phone
+86 18170007007
Call Us

European and American auto parts market

Auto parts have always been just needed overseas, especially in the United States. Because the labor cost is very expensive, many car owners will replace parts, repair, and daily care by themselves. In the United States, for example, there are 290million cars, with an average age of 12 years. At present, car ownership in Europe is about 340million, with an average age of 11.5 years. Therefore, auto parts have a considerable market in European and American countries.

In 2019, the size of the U.S. automotive after-sales market was $300billion. Due to the epidemic, many car owners were unable to drive their cars out for maintenance. The entire after-sales market fell to $280billion in 2020. After the epidemic gradually slowed down and stabilized in 2021, the size of the after-sales market rebounded.

McKinsey pointed out in the report “after the epidemic: looking into the aftermarket of automobiles” that due to the impact of home isolation and the closure of offline repair shops, more and more end consumers in the United States began to buy auto parts online. The report also pointed out that this trend of change in purchasing methods will continue.

According to the statistics of eMarketer, a famous research company in North America, the growth rate of online sales of auto parts reached 14% in 2021, and the total transaction volume of the online market reached more than $60 billion, an increase of nearly 50% from $40 billion in 2018.

The high potential categories of auto parts in 2022 mainly include auto truck parts, motorcycle parts, ATV UTV parts, ship parts, snowmobile parts, auto tools, and equipment. Auto and truck parts are the largest business demand segment in the auto and motorcycle parts category. With the rapid rise in the proportion of online purchases in Europe and the United States, we expect the share of automobile and motorcycle wiring in 2022 to increase by more than 50% compared with 2020.

Post time: Jul-23-2022