The report titled “Automotive Aftermarket in Canada” provides a comprehensive analysis of Canadian automotive aftermarket, growth of the sector, major products, developments, and future of Canadian automotive aftermarket.
Industry Overview: The automotive aftermarket consists of all materials that help in prolonging the life of a vehicle. Once the automobile is passed off from the manufacturer then the automotive aftermarket begins. Repair shops, collision centres, auto parts stores, manufacturers of all vehicle parts, chemicals, tools, equipment, and accessories make up the Canadian automotive aftermarket. It was observed that in the next five years the revenue for the automotive aftermarket industry in Canada is expected to increase drastically. The aftermarket industry in Canada relies heavily on the automakers and there is a variable demand for automobiles. This trend leads to a demand for industry products, demand for automobiles, and majority of the automakers will need to order auto parts from suppliers. It was also observed that there are strong sales in both domestic and commercial automobiles in Canada. The automotive aftermarket consumer confidence will improve steadily over the next few years and the revenue is expected to grow at a higher rate. The major threats and opportunities in the automotive aftermarket in Canada are a persistently high automotive production, greater manufacturing presence in nearby countries that leads to import growth and stricter emissions standards followed by domestic standards.
Automotive Aftermarket Products: Majority of the automotive aftermarket companies in Canada manufacture and rebuild a wide variety of motor vehicle parts and accessories. These parts and accessories include airbags, air conditioners, catalytic converters, engine exhaust systems, mufflers and resonators, radiators, radiator cores and wheels. These products are majorly used in new motor vehicle production. Air-conditioning systems such as heating, venting and air conditioning systems are consumed hugely and account for a key market share in terms of industry revenue. These systems consist of several specialized components, which are often purchased from small manufacturers. All the air-conditioning systems combine with ventilation ducts, a compressor and heat exchanger to control the temperature inside of a vehicle.
Developments in Canadian Aftermarket: Few other products in the Canadian automotive aftermarket are industry products, air-conditioning systems, fuel tanks and filters, exhaust systems, wheels, air bags, automobile body parts, and other auto parts. Majority of the aftermarket industry activities are manufacturing motor vehicle air conditioners, manufacturing motor vehicle air bag assemblies, manufacturing catalytic converters and engine exhaust, manufacturing mufflers and resonators, manufacturing radiators and cores, manufacturing wheels and rims. Automotive aftermarket manufacturers are shifting their focus towards parts suppliers, battery suppliers, and on-demand taxi service operators, and the auto parts supplier Magna has invested $200 million into Lyft.
Future of Canadian Automotive Aftermarket: Canadian automotive aftermarket market is expecting to generate huge revenues in the near future with the increase in the sales of parts and accessories. This sector is more positive in the recent years and in terms of revenue. The growth in automotive aftermarket has increased the demand for light automobile sales in the recent years and this trend may continue in the next few years. This will also increase a rise in car ownership in Canada and the aftermarket will witness a continuing growth over the coming years.
Key Topics Covered in this Report:
Canada Automotive Aftermarket Research Report
Canada Automotive Industry Analysis
Canada Automotive Aftermarket Volume Sales
Canada Automotive Aftermarket Revenue
Canada Automotive Aftermarket Analysis
Canada Automotive Aftermarket Sector Forecast
Canada Automotive Aftermarket Industry Competition
Canadian Automotive Aftermarket Industry Future Outlook
Canadian Automotive Aftermarket companies
Canada automotive Aftermarket Industry Trends
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Ankur Gupta, Head Marketing & Communications