Comprehensive Guide to the National Auto Parts Industry
This article provides an in-depth look at the auto parts industry in our country, highlighting manufacturing, aftermarket services, key suppliers, online sales channels, and future growth prospects. It emphasizes the industry's significance, economic impact, and consumer options for vehicle maintenance and upgrades.
Comprehensive overview of the country's auto parts sector
The auto parts market is a vital segment of the automotive sector, ranking as the world's second-largest industry. In our country, this industry encompasses manufacturing, distribution, remanufacturing, retail, and aftermarket services for vehicle parts, including equipment, chemicals, and installation services. Original Equipment Manufacturers (OEMs) produce these automotive components.
The aftermarket auto parts fall into two categories: vehicle accessories and replacement parts. These parts are remanufactured by OEMs when damaged or worn out, ensuring vehicles remain functional and safe.
Replacement parts serve various functions, including enhancing comfort, safety, design, and customization. Prominent suppliers in the sector include American Auto and Truck Salvage, Deercreek Auto and Truck Parts, US Truck and Car Parts Inc., SAP USA Auto Parts, and Collins Car and Truck Auto Parts. Customers can also perform DIY repairs with technician support, saving costs and increasing independence in vehicle maintenance.
By 2020, the auto parts industry was projected to surpass $700 billion in revenue. Since 2015, sales of auto parts and accessories have steadily increased, driven by demand for both standard and customized components. The industry benefits from international procurement and middlemen facilitating negotiations, boosting sales and fostering growth. The future outlook is promising, with the auto parts sector poised to surpass many other major industries in revenue.
Online retail channels have expanded the reach of auto parts sales. Platforms like Amazon and eBay now offer a wide range of parts, from performance upgrades and tires to tools and vehicle fluids. Customers can browse by categories such as brake systems, lighting, electrical, engine components, and suspension, making parts more accessible and convenient to purchase nationwide.
