How big is the US automotive aftermarket?
The US automotive aftermarket size reached USD 228. USD 350. CAGR of 4. The global e-commerce automotive aftermarket was valued at USD 250. It is projected to reach USD 745.
Who are Tier 3 automotive suppliers?
Some examples of Tier 3 suppliers include Faurecia, Stanley Black & Decker, LISI Automotive, Yazaki corporation TE connectivity, Cooper Standard, Saint-Gobain, Henkel AG & Co. They are responsible for managing the distribution and logistics of automotive components and parts. Tier 1 suppliers are the direct suppliers to the original equipment manufacturer (OEM), while Tier 2 suppliers provide components or services to Tier 1 suppliers. Tier 3 suppliers, on the other hand, supply materials or parts to Tier 2 suppliers.In the automotive sector, Tier 1 companies are suppliers that manufacture components or systems sold to original equipment manufacturers (OEMs)—companies that design and assemble vehicles.
Who is the largest aftermarket parts company?
Largest automotive aftermarket companies are also emphasizing the creation of environmentally friendly products and contributing to sustainability goals. In 2022, the market was dominated by Continental AG, ZF Friedrichshafen AG, and Robert Bosch. Generally, OE parts tend to be more expensive than OEM parts due to the branding and packaging by the manufacturer. However, both types maintain high quality and performance standards. Choosing between the two often comes down to cost preference and brand loyalty.OEM parts offer greater assurance of quality than aftermarket parts because they are the same as the parts on new cars and offer the same level of performance. Aftermarket parts, however, vary greatly in terms of quality, so there is a higher level of uncertainty concerning the quality of aftermarket parts.The automotive aftermarket is the secondary parts market of the automotive industry, concerned with the manufacturing, remanufacturing, distribution, retailing, and installation of all vehicle parts, chemicals, equipment, and accessories, after the sale of the automobile by the original equipment manufacturer (OEM) to .Here and everywhere else, OEM stands for “Original Equipment Manufacturer. More importantly, OEM automotive components stand for the official, genuine parts produced directly by your vehicle’s manufacturer.