The Automotive Aftermarket
Globally, aftermarket revenue continues to grow at a very healthy pace especially in markets like China where it is projected to triple by 2022. During that same time period, the overall market will double, exceeding $50bn presenting a tremendous opportunity for those who get it right. And it’s not just competitors, customers and countries that are causing the disruption. The industry itself is poised to make the biggest changes, as the arrival of autonomous vehicles slowly draws closer to alter forever our relationship with the car. Autonomous cars will result in more miles being travelled and more vehicles on the road, with the direct consequence that more parts and services will be needed.