Automotive Parts and Accessories Market Trends : Industry Overview
Automotive parts and accessories market falls under the umbrella of the automotive industry which has a wide range of companies involved in designing, manufacturing and selling of the automotive vehicles globally. This industry is one of the crucial economic sector globally by revenue.
Automotive parts and accessories market has evolved with years from steel as prominent choice of material to highly advanced material used today. The usage of the right material for Automotive parts and accessories is determined by several factors. One such factor is to focus on fuel efficiency to decrease the amount of exhaust to overcome the concern of global warming. Lot of research and technology is involved today to increase the conventional efficiency of the engine, to reduce vehicle weight, in making of electric cars and more. All these aim at ensuring consumer safety and decreasing the amount of emission in vehicle exhaust.
Automotive parts and accessories market includes engines, engines parts, batteries, tires, bodies, chassis and more. Some of the ever in demand products of the automotive parts and accessories market
specifically include suspension and steering, electrical and electronic components, brake systems, exhaust systems, auto-body wheels and parts, HVAC parts, radiators, filters, transmission and other components.
In the current Automotive parts and accessories market scenario, quite a large profit in sales numbers is coming from B2C online sales along with direct B2C sales. It is expected that the automotive industry will make $20 million alone in North America and Europe by 2020. It is predicted that the market of Western countries will drive the volume of transactions up. Emerging markets in Automotive parts and accessories is expected to show a continuous growth in retail and online parts purchasing in years to come. Companies like the U.S. Auto Parts Network (U.S.) and Oscaro (France) came into the market from nowhere and made their niche space today. For the sales of many such retailers to boost, companies like Amazon have played an important part. Although Amazon is not a conventional automotive online retailer company, it has still played its part in the growth process of automotive parts and accessories market. Big players like BMW have already started online retailing across a number of digital marketplaces such as eBay and Tmall, and some other online shops as well to help boost their profits and sales of automotive parts and accessories market.
Thus, advanced technology infused in the making of automotive parts and accessories market products help take care of the safety and comfort of end users. With increasing population and easy availability of these products online and other major platforms, automotive parts and accessories market is definitely a fast progressing industry and will remain so for many more years to come. Below is an expertly researched report accumulated by eMarketOrg on automotive parts and accessories market:
Global Auto Parts And Accessories Market Research Report 2017 @ https://emarketorg.com/pro/global-auto-parts-and-accessories-market-research-report-2017/