Total U.S. aftermarket size
- The U.S. automotive aftermarket is a $296 billion industry (2018) with a compound annual growth rate of 3.4% projected through 2021.*
- The entire aftermarket, including medium and heavy-duty vehicles, is projected at $392 billion in 2018 and is projected to reach $433 billion in 2021.*
- It includes 535,000 individual businesses consisting of independent manufacturers, repair shops, distributors, marketers and retailers. These businesses serve all 280+ million light, medium and heavy-duty vehicles registered in the U.S. today.
How large is the auto aftermarket industry?
The entire automotive aftermarket is a $390+ billion after-sales parts and accessories industry that services approximately 281 million light, medium and heavy-duty vehicles in operation (VIO) in the U.S. The industry breaks down into different categories and markets; one common way to categorize it is by automotive/light truck and medium/heavy duty vehicles.* The Auto Care Association represents the entire $396 billion industry, also referred to as the “auto care industry.”
Total automotive aftermarket size, a subset of the entire aftermarket
According to the Automotive Aftermarket Suppliers Association (AASA) the U.S. automotive aftermarket is a $287 billion industry (2017) with a compound annual growth rate of 3.6% projected through 2020. The AASA industry size includes the automotive segment only and does not count the medium and heavy duty vehicles segment. Both the Auto Care Association and AASA agree on the $287 billion industry size, as published in the Joint Channel Forecast Model, which is published by both trade associations.
Note that the word “automotive” is used generically and includes trucks and SUVs.
Total size of the replacement tire market
According to Modern Tire Dealer (MTD) the replacement tire market for cars and trucks was a $39.6 billion market in 2017. This is a segment of the entire U.S. aftermarket. The replacement tire market breaks down into passenger cars at around $25 billion, medium and heavy duty trucks at around $7 billion, light trucks at about $5 billion, off-road vehicles including commercial vehicles at around $2 billion and farm vehicles at $0.5 billion. MTD broke those numbers down by shipped units and there were 208 million replacement passenger tires, 31 million replacement light truck tires and 19 replacement million medium and heavy duty truck tires shipped in 2017.***
Total size of the specialty equipment market
According to the Specialty Equipment Market Association (SEMA) the specialty equipment market, which is a subset of the entire automotive aftermarket, is $44 billion in 2018. The specialty equipment market is sometimes referred to as the as performance parts and accessories market.*
Total size of the US online auto parts market
Online sales of auto parts and accessories in the US, excluding online auctions and used parts, have been projected to break $10 billion in 2018, according to Hedges & Company, a market research and digital marketing agency dedicated to the aftermarket. They report the growth rate of online parts sales is about 16% per year. This includes replacement parts, aftermarket parts and accessories.
They project that nearly $138 billion in auto parts and accessory sales through all sales channels (traditional retail and online) will be influenced by the Internet in 2018 including online research by consumers, Google search, manufacturer websites and reseller reviews.
Hedges & Company has been tracking online sales of auto parts for ten years.
Total size of the automotive aftermarket in Canada
According to Automotive Industries Association of Canada (AIA Canada) the Canadian aftermarket was a CA$21 billion industry in 2015, with employment growing at around 2.2% per year.** The Canadian aftermarket sector employed around 388,100 Canadians in 2015, up 2.2% from 379,800 the previous year. Ontario is the largest aftermarket province with 128,200 employees. Quebec and Alberta have the second and third largest total aftermarket employment with 87,400 and 55,100 employees, respectively. There were 4,656 auto parts and accessories and tire store retailers in Canada in 2015. There were 25.6 million light vehicles registered in Canada in 2015, which was a 4.4% increase from the 24.5 million in 2014.
Total size of the automotive aftermarket in Mexico
The Mexican aftermarket is estimated to be just over US$4 billion in 2016 and is expected to grow at 5%-6% over the next several years and has approximately 30 million vehicles in operation (VIO) making it the world’s 11th largest fleet.* The Mexican automobile industry is expected to manufacture 5 million light vehicles for 13 makes, in over 30 automobile factories, by 2020.
Total size of the automotive aftermarket in China
The Chinese parts and repair aftermarket is projected at US$188 billion by 2020. It has the second largest VIO fleet in the world, behind the US, with around 139 million vehicles.*