Japan Automotive Aftermarket to be Dominated by Passenger Cars till FY2027
Increasing demand for vehicle upgradation and digitization of
distribution channels are driving the growth of Japan automotive aftermarket in
the forecast period, FY2023-FY2027.
According
to TechSci Research report, “Japan Automotive Aftermarket By Vehicle Type
(Passenger Cars, Commercial Vehicles), By Component (Tires, Spark Plugs, Air
Filter, Fuel Filter, Brake Pad, Brake Shoe, Brake Calliper, Batteries, Others),
By Service Channel (DIFM (Do it for Me), DIY (Do it Yourself), and OE
(Delegating to OEMs)), By Region, Competition, Forecast & Opportunities,
FY2027”,
the Japan automotive aftermarket is anticipated to witness steady growth in the
forecast period, FY2023-FY2027. High demand for automotive parts and components
for automotive maintenance and repair services across the country and the
fierce competition among the market players is the primary influencing factor
for the Japan automotive aftermarket. The growing awareness of the benefits of
using automotive accessories as it enhances the driving experience and upgrades
the existing automobiles with novel technologies is expected to create
lucrative opportunities for market growth. The rising popularity of ADAS,
entertainment, and infotainment systems and the growing use of telematics and
connected technology in automobiles is expected to accelerate the Japan automotive
aftermarket growth. Automotive accessories comprise interior and exterior
parts. The main use of installing accessories in automobiles is to amplify the
protection of both vehicles and passengers and improve the aesthetic appearance
of automobiles. The accessories used in the automobiles are generally not
provided by the original equipment manufacturers and are installed based on the
needs and requirements of the consumers. Digitization of the automotive
components and parts and the integration of advanced technologies is expected
to boost the growth of the Japan automotive aftermarket. Automotive replacement
part suppliers and service providers are adopting practices to strengthen the
aftermarket parts, components, and accessories supply chain. These work
together and provide results and affect the automotive sector at various
stages. Availability of advanced automotive components and the simplification
in the transactions along with the digitalization of the automotive aftermarket
part sales is expected to influence the market sales. Due to the rise in the
number of road accidents, consumers are keen to install safety equipment and
technology in their automobiles, driving the sales of safety aftermarket
components and accessories.
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The
Japan automotive aftermarket is segmented into vehicle type, component, service
channel, regional distribution, and competition landscape.
On the basis of vehicle type, the Japan automotive
aftermarket is divided into passenger cars and commercial vehicles. The
passenger cars segment is expected to hold the largest market share in the
forecast period, FY2023-FY2027. Improvement in the lifestyle of the consumers
and a growing preference for private vehicle ownership is driving the sales of
passenger cars in Japan. Efforts made by the passenger car manufacturers to
magnify the passenger car performance and efficiency in terms of speed, exhaust
system, and fuel efficiency are expected to create huge growth potential for
the Japan automotive aftermarket growth.
On the basis of component, the Japan automotive
aftermarket is divided into tires, spark plugs, air filters, fuel filters,
brake pads, brake shoe, brake calliper, batteries, and others The tires segment
is expected to account for significant market share in the forecast period. The
presence of advanced features in automobiles is increasing the average life of
automobiles. Tires experience wear and tear in the long run, and to avoid any
case of mishappening, consumers prefer to change the tires at regular
intervals.
On the basis of service channel, the
Japan automotive aftermarket is divided into DIFM (Do it for Me), DIY (Do it
Yourself), and OE (Delegating to OEMs). The DIY (Do It Yourself) is expected to
witness the fastest incremental growth in the next five years. The high sales
of old and new automobiles and the availability of affordable aftermarket
products in the market are the primary driving factors for the segment's
growth. Market players are offering easy-to-use kits and launching innovative
products to attract more customers. Increasing per capita income of consumers makes
such products afford quality products to amplify the driving experience.
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“The high sales of electric vehicles in
Japan to achieve the zero-emission target and produce environment-friendly
vehicles influence the Japan automotive aftermarket sector to focus on
providing excellent aftermarket services to retain and attract more customers.
The aftermarket players' use of advanced technologies, providing quick and
cost-effective solutions to the customers, and providing doorstep services to
fulfill customer requests is expected to contribute to the growth of the Japan Automotive
Aftermarket. Supportive government policies along with the availability of
advanced electric vehicle charging infrastructure are expected to propel the
Japan Automotive Aftermarket growth till FY2027” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Japan Automotive
Aftermarket By Vehicle Type (Passenger Cars, Commercial Vehicles), By Component
(Tires, Spark Plugs, Air Filter, Fuel Filter, Brake Pad, Brake Shoe, Brake
Calliper, Batteries, Others), By Service Channel (DIFM (Do it for Me), DIY (Do It
Yourself), and OE (Delegating to OEMs)), By Region, Competition Forecast &
Opportunities, FY2027”, has evaluated the future
growth potential of Japan Automotive Aftermarket and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in Japan Automotive Aftermarket.
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