Global Motor Vehicle And Parts Dealers Market Overview:
The sector has benefited from rising per capita disposable income, which has allowed more customers to spend on industry services, as well as an ageing car fleet. Vehicles require more regular maintenance and repairs as they age, increasing demand for industry products. There were around 117,800 motor vehicle and parts dealer operations in the United States by the middle of 2020. Between 2019 and 2020, the number of such enterprises climbed by 0.5 percent.
- Growing Working Population Coupled with Expanding Middle Class
- Increasing Usage of Additional Features like Bluetooth and Touch Screens and safety features
- Limited Availability of Resources Such As Metal and Others
- Issues Related to High Fuel and Labor Costs
- Government Regulations related to environment protection
- Increasing Number of Automobile Manufacturers
- Growing Demand in Replacement of Automobile Parts from Speciality Dealers
- Lack of availability of Skilled Labors is affecting the market growth. COVID 19 outbreak has affected the automotive sector as 78% of the companies are not having enough staff to run the production line. Also, 80% of the world auto supply chain is connected to China. Therefore, According to China Passenger Car Association, the sales in first two months have declined by 40% as compared to same period in 2019 which is having negative impact on the industry.
The global Motor Vehicle And Parts Dealers market is witnessing rise in competitiveness among the players. In terms of market share, the major players are currently dominating. However, some of the companies are increasing the market presence by securing new contracts and tapping new markets. The manufacturers are try to achieve competitive advantage by lowering the manufacturing costs and adopting cost effective techniques.
Some of the key players profiled in the report are Robert Bosch Gmbh (Germany), Denso (Japan), Varroc Lighting (United States), Hyundai (South Korea), Volkswagen (Germany), NISSAN (Japan), O'Reilly Auto Parts (United States), Advance Auto Parts (United States), Penske Automotive Group (United States) and AutoZone (United States). Additionally, following companies can also be profiled that are part of our coverage like Group 1 Automotive Inc, Sonic Automotive Inc, Hendrick Automotive Group, Asbury Automotive Group Inc, Genuine Parts Company, AutoNation and Lithia Motors Inc. Analyst at AMA Research see United States Vendors to retain maximum share of Global Motor Vehicle And Parts Dealers market by 2026. Considering Market by Ownership, the sub-segment i.e. Retail Chain will boost the Motor Vehicle And Parts Dealers market. Considering Market by Stores, the sub-segment i.e. Exclusive Retailers/Showroom will boost the Motor Vehicle And Parts Dealers market.
Latest Market Insights:
October 2018, Walmart Inc.and Advance Auto Parts Inc. Have Formed a Strategic Partnership to Create a Car Parts Store on Walmart.Com, Beginning in 2019.
In July 2019, Continental and Knorr-Bremse are Taking a Further Step in their Development Partnership Towards Highly Automated Commercial Vehicle Driving. and In July 2019, ZF Aftermarket Offers a Comprehensive Range Of OE Quality Steering And Chassis Components Under Its Lemforder Brand.
What Can be Explored with the Motor Vehicle And Parts Dealers Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Motor Vehicle And Parts Dealers Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Motor Vehicle And Parts Dealers
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Motor Vehicle And Parts Dealers market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Motor Vehicle And Parts Dealers market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers, Raw Material Suppliers, Automobile Enterprises, Research Institutes, Suppliers and Distributors and Government Associations.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Motor Vehicle And Parts Dealers Market?
The Motor Vehicle And Parts Dealers market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Motor Vehicle And Parts Dealers Market?
Top performing companies in the Global Motor Vehicle And Parts Dealers market are Robert Bosch Gmbh (Germany), Denso (Japan), Varroc Lighting (United States), Hyundai (South Korea), Volkswagen (Germany), NISSAN (Japan), O'Reilly Auto Parts (United States), Advance Auto Parts (United States), Penske Automotive Group (United States) and AutoZone (United States), to name a few.
3. What trending factors would impact Motor Vehicle And Parts Dealers Market growth most?
"Use of Recycled Parts to Prevent the Use of Raw Materials
" is seen as one of major influencing trends for Motor Vehicle And Parts Dealers Market during projected period 2020-2026.