DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/whlck5/automotive_parts) has announced the addition of the "Automotive Parts Aftermarket Market in US 2014-2018" report to their offering.
The analysts forecast the Automotive Parts Aftermarket in the US to grow at a CAGR of 2.04 percent over the period 2014-2018. One of the key factors contributing to this market growth is the fact that the costs of aftermarket parts are lower than those of original equipment components. The Automotive Parts Aftermarket in the US has also been witnessing the increasing mean age of light vehicles. However, the growing vulnerability of the US Auto-parts industry could pose a challenge to the growth of this market.
The key vendors dominating this market space are Bridgestone Corp., Compagnie Generale des Etablssements Michelin SCA, Continental AG, Cooper Tire and Rubber co., Magna International Inc., and The Goodyear Tire and Rubber Co.
Other vendors mentioned in the report are Exide Technologies, Standard Motor Products Inc., Accuride Corp., Eastern Manufacturing Inc., Federal-Mogul Corp., Dorman Products Inc., Remy International Inc., Motorcar Parts of America, BBB Industries LLC, OE plus Ltd., UCI-FRAM Group, Tomkins Ltd., Gates Corp., Standard Motor Products Inc., Veyance Technologies Inc., Plews Inc., Goodyear Tire & Rubber Co., Affinia Group Inc., Tenneco Inc., Fras-le S.A., Eaton Corp., Continental Corp., Brembo S.p.A, SKF VSM North America, , MAHLE GmbH, Freudenberg-NOK Sealing Technologies, Exedy Corp., AP Exhaust Technologies Inc., Eastern Manufacturing Inc., K&N Engineering Inc., NGK Spark Plug Co. Ltd., WAI Global, Bridgestone Corp., Compagnie Generale des Etablssements Michelin SCA, Pirelli Tyre Co., Cooper Tire and Rubber Co., Denso Corp., Robert Bosch GmbH, and Autolite Co.
Commenting on the report, an analyst from the team said: The Automotive Parts aftermarket in the US is a highly fragmented market. Players in the market include independent companies, OEM-owned dealers, and manufacturer-authorized dealers. The market is also continuing to use the consolidation strategy as a means of increasing competitiveness. Also, the aim to become a desirable supplier has led to the major producers acquiring smaller companies in the market. In addition, falling prices and reduced profit margins have increased market consolidation, which will make it very difficult for small players to stay competitive in the market.
According to the report, the main factor that is driving the Automotive Parts aftermarket in the US is the low costs associated with these components. The aftermarket parts are relatively cheaper than OE parts, and are, hence, beneficial for end-users. The prices may vary from store to store, and the end-user can check for the best possible price without compromising on product quality. Hence, the affordable nature of aftermarket parts is a major factor which is leading to people opting for these components.
For more information visit http://www.researchandmarkets.com/research/whlck5/automotive_parts
About Research and Markets
Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.