TL;DR
The Asia Pacific automotive aftermarket is predicted to hit $239.8 billion by 2032, growing at 6.9% annually, driven by aging and more complex vehicles.
The automotive aftermarket in the Asia Pacific region is projected to experience substantial growth, with revenues expected to reach $239.8 billion by 2032. This forecast indicates an annual growth rate of 6.9%, more than double the pace of vehicle population expansion. The growth is attributed to the increasing age and complexity of vehicles, driving demand for maintenance and parts.
Research by Frost & Sullivan highlights the critical importance of regional integration and close collaboration with local governments and suppliers for success in this diverse market. India is identified as one of the key countries contributing to this growth, alongside China, Japan, Australia, Thailand, Indonesia, Malaysia, and Vietnam. The study, presented at Automechanika Frankfurt, covers passenger vehicles and offers a forecast up to 2035.
