The report titled “Automotive Aftermarket in Australia”, provides a comprehensive analysis of Australia’s automotive aftermarket, growth of the sector, major products, leading players, developments, technology and future of Brazil’s automotive aftermarket. According to the report Electric car industry statistics will witness an increase in the battery-powered models in the next few years. This trend may help in the growth of the Australian automotive aftermarket in the near future. Tesla is going for a mass-production of electric cars at an affordable range. Majority of the electric cars will receive a boost in year 2018 from the new Nissan Leaf and Hyundai Ioniq EV as well as Hyundai’s hydrogen-powered Nexo SUV. BMW and Renault also initiated electric cars as consumers are more appealing towards electric vehicles. Volkswagen, Porsche, Mercedes and Volvo also have new models on the way in the near future as luxury brands are likely to lead the electric automobile industry. With the drastic growth in the electric cars, the Australian automotive aftermarket sector will witness a steady growth in the next few years.
Industry Overview: The automotive aftermarket is a secondary market in the automotive industry. It comprises of manufacturing, remanufacturing, distribution, retailing and installation of all vehicle parts, chemicals, equipment, and accessories. The extra parts and accessories are not necessarily manufactured by the original equipment manufacturer. The aftermarket parts are divided into two categories such as replacement or spare parts and accessories. The spare parts are automotive parts remanufactured to replace original equipment parts of an automobile as they become worn out or get damaged after a period of time. Various automobile accessories are certain parts made for comfort, convenience, performance, safety, or customization, and are designed for add-on after the original sale of the motor vehicle. Aftermarket consists of parts for replacement, collision, appearance, and performance, such as electric propulsion. It also provides a wide variety of parts of varying qualities and prices for all types of vehicle and models. Majority of the consumers repairing their own vehicles themselves or take their vehicle to a professional repair facility. The aftermarket usually helps the vehicle owners to keep vehicles on road by providing vehicles services, maintenance, or customized. Automotive aftermarket in Australian is a national automotive industry association representing vehicle manufacturers, distributors, wholesalers, importers and retailers of automotive parts, accessories, tools, equipment, vehicle service, repair and modification services. The automotive aftermarket in Australian also provides tires, batteries, collision body parts, oils, lubricants, and others.
Toyota, Holden, and Ford automotives dominate the Australian automobile industry with their history of manufacturing within the country. With increasing number of players within the automotive aftermarket industry, the market share of the major original equipment manufacturer (OEMs) has slightly started to decline offering more choices to consumer. The average lifetime of passenger automobiles in Australia is higher compare to the other developed regions around the world. The leading companies in automotive aftermarket are Autobarn, Autopro, Burson Auto Parts, Ford, Holden, Repco, Supercheap Auto and Toyota.
Recent Developments in the Automotive Aftermarket in Australia: The automotive supply chain business in Australia has expected a collapse in the recent years due to a downtrend in the nation’s car industry. Australian Toyota has closed its Holden’s Adelaide plant in October 2017 due to the downtrend. The nation witnessed the death of the car industry recently and also a critical job situation due to the automotive downtrends. The most affected are the third-party suppliers, also known as supply chains who manufacture parts, spare parts of the automobile and its components. The component makers faced serious job losses because more than half of the top-tier car component manufacturers closed business. The automotive workers in Australia are being re-skilled, supply chain firms are diversifying and country is adjusting into new areas for the growth in the economy.
Australian automotive aftermarket sector is expecting less revenue over the next few years due to the shutdown of the car industry. The components segment may expect a lucrative growth but the overall growth in the next few years will slow down gradually. As the lifetime of the vehicles in Australia increases consumers will witness a need for components and services in order to improve the durability and performance of the automobile. The continuing need of the automotive aftermarket in Australia will drive the market over the next few years but may not witness a drastic growth due to a massive downtrend in car industry.
Key Topics Covered in this Report:
- Australia Automotive Aftermarket Research Report
- Australia Automotive Industry Analysis
- Australia Automotive Aftermarket Volume Sales
- Australia Automotive Aftermarket Revenue
- Australia Automotive Aftermarket Analysis
- Australia Automotive Aftermarket Sector Forecast
- Australia Automotive Aftermarket Industry Competition
- Australia Automotive Aftermarket Industry Future Outlook
- Australia Automotive Aftermarket companies
- Australia automotive Aftermarket Industry Trends
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Ankur Gupta, Head Marketing & Communications