The ASEAN automotive aftermarket is expected to experience significant growth in the coming years due to the increasing demand for vehicle maintenance, repair, and replacement services in the region. The rise of vehicle ownership, expanding vehicle parc, and growing number of aging vehicles is driving the demand for aftermarket services, including parts and accessories, maintenance, and repair. Additionally, the emergence of e-commerce platforms and digitalization is creating new opportunities for aftermarket players to reach customers more effectively and efficiently. However, the market is also facing challenges, including price competition, counterfeit products, and stringent regulations. Overall, the ASEAN automotive aftermarket is expected to experience steady growth in the coming years, driven by the rising demand for quality and affordable automotive aftermarket services.
The ASEAN Automotive Aftermarket was estimated to account for US$ 28,450 Mn in terms of value in 2021 and is predicted to grow at a CAGR of 9.3% during the forecast period (2022 to 2030).
Major Players in the ASEAN Automotive Aftermarket:
1. Bridgestone Corporation
Bridgestone Corporation is a Japanese multinational tire manufacturing company founded in 1931. It is headquartered in Tokyo, Japan, and operates in over 150 countries worldwide, including the United States, Canada, Brazil, China, and Europe. Bridgestone is known for its premium quality tires and automotive products. In March, 2023 Fia Partners With Bridgestone on Ecorally Cup Initiative
2. ACDelco
ACDelco is an American automotive parts supplier owned by General Motors (GM). It was founded in 1916 and is headquartered in Grand Blanc, Michigan. ACDelco operates in over 100 countries, providing replacement parts for GM vehicles as well as other makes and models.
3. Denso Corporation
Denso Corporation is a Japanese automotive components manufacturer founded in 1949. Its headquarters are located in Kariya, Japan, and the company operates in over 30 countries, including the United States, China, and Europe. Denso is known for its innovative products, including electronic systems, engine components, and air conditioning systems. In March, 2023 DENSO CORPORATION, a leading mobility supplier, announced it has developed its first-ever inverter with silicon carbide (SiC) semiconductors.
4. Aisin Seiki Co., Ltd.
Aisin Seiki Co., Ltd. is a Japanese automotive parts supplier founded in 1949. Its headquarters are located in Kariya, Japan, and the company operates in over 20 countries, including the United States, China, and Europe. Aisin Seiki is known for its transmission and brake systems, as well as its engine and body components.
5. Hella KGaA Hueck & Co.
Hella KGaA Hueck & Co. is a German automotive parts supplier founded in 1899. Its headquarters are located in Lippstadt, Germany, and the company operates in over 35 countries, including the United States, China, and Europe. Hella is known for its lighting systems, electronics, and other automotive components.
6. BorgWarner Inc.
BorgWarner Inc. is an American automotive parts supplier founded in 1928. Its headquarters are located in Auburn Hills, Michigan, and the company operates in over 60 countries, including the United States, China, and Europe. BorgWarner is known for its transmission and drivetrain components, as well as its turbocharger systems. In March, 2023 BorgWarner Inc. announced that it has completed its acquisition of Hubei Surpass Sun Electric’s (SSE’s) Electric Vehicle Charging Solution, Smart Grid and Smart Energy businesses.
7. Robert Bosch GmbH
Robert Bosch GmbH is a German multinational engineering and technology company founded in 1886. Its headquarters are located in Gerlingen, Germany, and the company operates in over 60 countries, including the United States, China, and Europe. Bosch is known for its automotive components, including engine systems, braking systems, and other electronic components.
8. Continental AG
Continental AG is a German automotive parts supplier founded in 1871. Its headquarters are located in Hanover, Germany, and the company operates in over 60 countries, including the United States, China, and Europe. Continental is known for its tires, brake systems, and other automotive components. In November 2022 Continental advances development of Brake Caliper for electric vehicle (Green Caliper) are more compact and lighter than those for conventional vehicles but with the same deceleration power.
9. Magneti Marelli SpA
Magneti Marelli SpA is an Italian automotive parts supplier founded in 1919. Its headquarters are located in Corbetta, Italy, and the company operates in over 20 countries, including the United States, China, and Europe. Magneti Marelli is known for its lighting systems, powertrain components, and other automotive components.
10. Delphi Automotive PLC
Delphi Automotive PLC is a British automotive parts supplier founded in 1994. Its headquarters are located in London, England, and the company operates in over 30 countries, including the United States, China, and Europe. Delphi is known for its powertrain components, electronics, and other automotive components.
11. Faurecia SA
Faurecia SA is a French automotive parts supplier founded in 1997. Its headquarters are located in Nanterre, France, and the company operates in over 35 countries, including the United States, China, and Europe. Faurecia is known for its automotive seating and interior systems, as well as its emissions control systems.
*Definition- ASEAN automotive aftermarket refers to the services and products related to vehicle maintenance, repair, and replacement that are offered after the sale of a vehicle. It includes parts and accessories, maintenance, repair, and other related services provided by third-party companies or manufacturers.
