PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1397403
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1397403
According to SPER Market Research, 'Europe Automotive Aftermarket Market Size- By Type, By Application, By Distribution, By Vehicle Type, By Vehicle Type, By Position - Regional Outlook, Competitive Strategies and Segment Forecast to 2033' state that the Europe Automotive Aftermarket Market is predicted to reach USD 435.54 billion by 2033 with a CAGR of 3.36%.
The automotive aftermarket includes the manufacturing, remanufacturing, distribution, redistribution, end-retail, reselling, and installation of automobiles. The aftermarket covers replacement, performance, appearance, and collision parts. The digitization of automotive repair and component sales has led to an increase in the popularity of the automotive aftermarket with the adoption of new technologies.
The COVID-19 pandemic is expected to persist for several years, with uncertain ramifications for the automotive aftermarket. Global governments were forced to impose strict lockdowns and prohibit the import or export of vital raw materials due to the COVID-19 pandemic during the majority of 2020 and several months of 2021. Several government transportation organizations are relaxing the rules regarding technical controls and inspection schedules, and many people are delaying inspections or making optional repairs.