The development trend of the auto parts aftermarket industry in the next five years

With the rapid development of the automobile market and the continuous improvement of consumers' demands on automobile safety, comfort and performance, the automobile aftermarket is also facing new opportunities and challenges. In the next five years, the auto parts aftermarket industry will face the following development trends.

• Electrification and intelligence trends

With the rapid development of new energy vehicles and smart vehicles, the traditional automotive aftermarket is transforming towards electrification and intelligence. In the next five years, auto parts after-sales companies need to invest more funds and technology research and development to develop more efficient and intelligent vehicle maintenance equipment and tools, and provide more professional and efficient services for the repair and maintenance of electrified and intelligent vehicles.

But the impact of electrification on the aftermarket still needs to be observed,Countries are proposing regulations to limit new registrations to zero- or low-emission vehicles, with similar trends ahead in China, the US, Europe, and this is having a potential impact on the aftermarket, illustrating why we are seeing customers opting for more Rapid adoption of electric vehicles. In the US, for example, the light truck industry dominates the electrified sector in new vehicle registrations in the US in 2022, accounting for 60% of all EV registrations. While BEVs are growing well, the percentage suggests they are still relatively small, with many waiting for the technology to become more mature and the infrastructure to improve before switching to pure electric.

• Environmental protection trends

With the continuous improvement of global environmental protection awareness, the automotive aftermarket also needs to adapt to environmental protection trends, and actively promote environmentally friendly auto parts and clean technologies to reduce waste gas and waste water emissions and reduce the impact on the environment.

• Supply chain management

The automotive aftermarket needs to achieve efficient management of the supply chain to ensure timely supply of parts and competitive prices. In the next five years, the automotive aftermarket will pay more attention to the management of the supply chain, and adopt digital technology and Internet of Things technology to optimize the process and efficiency of the supply chain.

• Cross-border cooperation

In the next five years, the automotive aftermarket will pay more attention to cross-border cooperation with other industries, such as cooperation with the Internet, logistics, insurance and other industries. This will help the automotive aftermarket to open up new service areas and markets, and improve the profitability and competitiveness of enterprises.

• Data-based operation

With the continuous improvement of informatization, the automotive aftermarket will pay more attention to data-based operation in the next five years, using artificial intelligence, big data and other technologies to carry out operation management and business decision-making, and improve service quality and customer satisfaction .

To sum up, in the future, the auto parts aftermarket industry will face various development trends such as electrification, intelligence, environmental protection, supply chain management, cross-border cooperation, and data-based operations. Enterprises need to actively adapt to these trends, continuously innovate and improve service quality in order to win market competition.