The automotive aftermarket is a booming industry that encompasses all vehicle parts, chemicals, tools, equipment, and accessories for both light and heavy vehicles after the original equipment manufacturer sells the vehicles to the consumers. Essentially, the aftermarket is the secondary market of the automotive industry that deals with the manufacturing, remanufacturing, distribution, retailing, and installation of these parts.
Why Is the Aftermarket Important?
The aftermarket, which is valued at around $257 billion in the United States, plays a crucial role in keeping vehicles on the road. It offers consumers a choice of where to have their cars serviced, maintained, or customized. It includes parts for replacement, collision, appearance, and performance, including electric powertrains. The aftermarket offers a massive selection of products of varying quality and price for almost every make and model of vehicle on the road. Consumers can opt to repair their vehicles themselves or take them to a professional repair shop.
Who Is Involved in the Aftermarket?
The aftermarket includes everyone from repair shops, manufacturers, and distributors of diagnostic and repair equipment, tools or spare parts, to publishers of technical information, automobile clubs, breakdown services, providers of fleet management solutions, inspection and testing services, and independent service providers. Essentially, anyone involved in the repair and maintenance of vehicles, directly or indirectly, belongs to the aftermarket industry.
Conclusion
The aftermarket industry is an essential part of the automotive sector. It affords vehicle owners options for repair and maintenance services and provides a vast range of products. It offers work to many individuals from manufacturers to independent service providers- while helping to keep the economy going.
FAQs
What is the automotive aftermarket?
The automotive aftermarket is the industry concerned with the manufacturing, distribution, retailing, and installation of vehicle parts, chemicals, tools, equipment, and accessories for light and heavy vehicles after the original equipment manufacturer sells the vehicle to the consumer.
Why is the aftermarket important?
The aftermarket plays a crucial role in keeping vehicles on the road. It offers consumers choices for where to have their cars serviced, maintained, or customized, provides parts for replacement, and contributes to the economy.
Who is involved in the aftermarket industry?
The aftermarket involves everyone from repair shops, manufacturers, and distributors of diagnostic and repair equipment, tools or spare parts, to publishers of technical information, automobile clubs, breakdown services, providers of fleet management solutions, inspection and testing services, and independent service providers.
