The Chinese Automotive Aftermarket to 2025 - Forecast to Reach $523.8 Billion by 2025 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 3, 2019--The “Chinese Automotive Aftermarket, Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
Chinese automotive aftermarket revenue* (including automotive parts, insurance, used cars, automotive beauty and accessories, and miscellaneous services) is expected to record a Compound Annual Growth Rate (CAGR) of 7.7%, increasing from $290.44 billion in 2017 to $523.8 billion in 2025.
During this period, the vehicles in operation (VIO) for Chinese passenger vehicles is expected to grow from 185 million units to 401.7 million units. Meanwhile, however, new and used car sales in China are likely to experience slower growth, recording a CAGR of 2.3% and 7.5% respectively.
Continuous growth of new and used car sales is the key factor driving VIO growth in China during the long term. The two-child policy, rising disposable income, competitive retail sales, electric vehicle penetration, and emission standard upgrade are the main drivers boosting vehicle sales growth in China.
The Chinese automotive aftermarket is likely to be diversified by eCommerce platforms, especially in online-to-offline parts retail and repair and maintenance services. Alibaba and Tuhu are the key eCommerce platforms leading the Chinese online automotive aftermarket. eCommerce penetration is likely to increase from 12.7% in 2017 to 40% in 2025.
Currently, the Chinese automotive parts aftermarket is well-developed, with foreign, domestic, and joint venture brands. Foreign and joint venture companies manufacturing automotive parts are dominating the market, with a 70% revenue share as of 2017. However, the revenue share of domestic automotive parts brands is on the rise.
Key Topics Covered
1. Executive Summary
2. Research Scope, Objectives, Background and Methodology
3. Aftermarket Regulation
4. Market Drivers and Restraints
3. Top Automotive Aftermarket Trends
4. VIO Market Analysis
5. Automotive Parts Market Analysis
6. Used Car Market Analysis
7. Automotive eCommerce Market Analysis
8. Growth Opportunities and Companies to Action
9. Conclusions and Future Outlook
Companies ProfiledAlibaba Tuhu
For more information about this report visit https://www.researchandmarkets.com/research/752gwd/the_chinese?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20190103005342/en/
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Related Topics:Automotive Aftermarket
KEYWORD: ASIA PACIFIC CHINA
INDUSTRY KEYWORD: AUTOMOTIVE AFTERMARKET
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 01/03/2019 07:40 AM/DISC: 01/03/2019 07:40 AM