On a global level, the average use of vehicles is increasing significantly. The automotive aftermarket is benefiting from this as the demand for maintenance and spare parts increases. At the same time, the market is being shaped by trends such as electromobility, digitalisation, and sustainability.
With a global market volume of over $430 billion in 2024, the aftermarket represents a central pillar of the automotive industry. It drives not only sales, but also innovation. Since 2021, the aftermarket has been growing continuously, as drivers are holding on to their vehicles for longer. There are many reasons for this. Chief among them are the sharp rise in new car prices and the uncertainty surrounding the transition from internal combustion engines to electric drives, which are affecting consumer moods.
“A wait-and-see attitude seems to be the order of the day, and is exacerbated by the current reluctance to spend due to the poor economic situation. However, as people are dependent on their cars, existing vehicles are being driven for longer,” says Thomas Vollmar, Chairman of the Gesamtverbands Autoteile- Handel (German Association of Auto Parts Trading).
Worldwide, cars are getting older
According to various surveys, the average car age in the US and the EU has been rising since 2020. The Kraftfahrt- Bundesamt (Federal Motor Transport Authority) recently reported that the average car age in Germany reached 10 years for the first time in 2023. In the EU, the average age of a car has been rising steadily, from 10.6 years in 2016 to 12.3 years in 2022. (Editor's note: Australia is shown at 11 years average age with no figures for New Zealand.) The situation is different in emerging markets such as India and China: in India, the average age of a used car fell from six years in 2011 to four years in 2022, mainly due to improved infrastructure and logistics of the dealer network. In addition, the world’s most populous country has a growing middle class with higher incomes. Rising prosperity in China is also resulting in comparatively young cars.
Read more on increasing maintenance costs, remanufacturing and online retailing and much more on Gateway to Automotive: https:// automotive.messefrankfurt.com/global/en.html.
