Automotive Parts & Accessories Stores Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 8/2/2021
SIC Codes: 5015, 5531
NAICS Codes: 44131
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Automotive Parts & Accessories Stores Industry Profile

Companies in this industry operate physical retail establishments that sell new, used, and/or repaired automobile parts and accessories, as well as repair and install automotive accessories. Major companies include Advance Auto Parts, AutoZone, and The Pep Boys (all based in the US), as well as ATU (Germany); AUTOBACS SEVEN and Yellow Hat (Japan); Halfords Group (UK); and Supercheap Auto (Australia).

The global automotive industry is expected to experience healthy growth over the next several years, due largely to economic expansion in emerging markets. The global light duty vehicles market size was valued at over $520 billion in 2018 and is expected to grow 8.5% from 2019 to 2025, according to Grand View research. China is the world's largest consumer of auto parts, followed by the US, Japan, and Germany, according to Statista. Mature economies in North America and Europe will likely grow but at a much slower pace than emerging markets.

The US automobile parts retail industry includes about 37,500 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $57 billion. The US automotive light duty aftermarket sales are expected to grow from around $280 billion to around $310 billion, according to a joint forecast by Automotive Aftermarket Suppliers Association (AASA) and the Auto Care Association.

The industry includes retailers of new and used automobile parts. Some large retailers also distribute auto parts. Tire wholesalers and tire dealers, which are not part of the ...

 
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