Automotive Aftermarket industry Statistics
As we gear around exhibit on Automotive Aftermarket item Expo (AAPEX) a couple of weeks from today, we wanted to talk a little bit about a few of the top automotive aftermarket styles, including some supply chain trends those who work in the automotive aftermarket are experiencing in an occasion that may simply be called a business in transformation (similar to industries, and particularly production). In tomorrow's post we're going to after that expand from automotive aftermarket styles & the importance of utilizing a 3PL business to produce those who work in the automotive aftermarket more competitive.
A Chinese proverb says: “once the winds of change blow, some individuals develop walls as well as others build windmills.” If you should be employed in an industry like automotive aftermarket sector, where you are able to feel a consistent snap of innovation, you'll have to develop an intuition for boundaries and options, or in various other words – set-up your windmill as soon as the minute is appropriate.
The internet retail market for the automotive aftermarket components industry and add-ons will continue to emerge as a huge development chance for the aftermarket parts industry. While predicted product sales volumes of the internet based components industry vary, tests cover anything from $2 billion to $4 billion annually.
With its March 2014 report, “Digital Disruption: e-Tailing inside Automotive Aftermarket, ” AASA reported that aftermarket e-tailing is continuing to grow considerably, with around 60 % of development happening before four years. Because of that, Booz & business estimated that by 2018, e-tailing marketplace size could achieve 7.3 % of marketplace penetration. Aftermarket suppliers should have an effective existence online inside acquisition procedure to take advantage of the possibilities in DIY and DIFM.
Over the past years, the automotive aftermarket has adapted to and profited from the overall trends into the automotive industry. Like the past many years, 2014 will again mark a peak inside creation of vehicles as well as the matching provider business. The high demand for spare parts is attached to the old-age of vehicles in the usa (ca. 11 years). Additionally, strong development in emerging areas supplies the automotive industry with a significant level of ascending potential.
Through the aftermarket business’s viewpoint, the continuity of the development is based on the firms’ capacity to more adjust to the future automotive aftermarket trends. The main driver behind these trends is technological modification.
For the duration of this initiative, spare parts management is subject to an efficiency analysis in each specific aspect. This requires brand-new ways of thinking and abets digital solutions.