DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/ft99bs/automotive) has announced the addition of the "Automotive Aftermarket in Western Europe 2011-2015" report to their offering.
One of the key factors contributing to this market growth is the increasing demand for vehicle security. The Automotive Aftermarket in Western Europe has also been witnessing the growing importance of electronic parts. However, favorable policies in domestic Automotive industries in Western Europe could pose a challenge to the growth of this market.
The key vendors dominating this market space are Auto-Teile-Unger Handels GmbH & Co. KG Autodistribution SA., ATS Euromaster Ltd., and GKN plc.
The other vendors mentioned in the report are Federal-Mogul Corp., Affinia Group Inc., Honeywell Transportation Systems, Tenneco Inc., TRW Automotive, Centric Parts, Aisin Seiki Co. Ltd., Robert Bosch LLC, and Schaeffler Group USA Inc.
Commenting on the report, an analyst from TechNavio's Automotive team said: ''Aftermarket vendors are providing automotive electronics such as night-vision devices, global positioning systems, and parking-assist systems. This trend is being witnessed mainly because of the growing consumer demand for features such as entertainment, emergency assistance, gaming, information, and navigation. Since consumers are spending a good part of their day in their car, there is a growing demand for high-quality audio and information content while on the road. These demands are forcing many of the vendors to expand their market reach further. Hence, the increased use of electronics is a major trend observed in the Automotive Aftermarket in Western Europe.''
According to the report, currently, vehicles are becoming more advanced through an amalgamation of driveline and other material-associated innovations. The use of advanced technologies to manufacture electric battery, hybrid, and fuelâcell-powered vehicles is increasing around the world, along with the development of alternative fuels like CNG and ethanol, which add complexity to the service proposition. Moreover, the shift in the Automotive industry from mechanical to electrical and electronic systems opens up new opportunities as well as challenges. This transition is driving the growth in demand for replacement products and new service technologies.
Further, the report reveals that the improved quality of automotive parts is a major threat to the vendors in this market.
For more information visit http://www.researchandmarkets.com/research/ft99bs/automotive