Size of the automotive aftermarket
The United States automotive aftermarket is estimated to be worth $318.2 billion (2013), contributing more than 2.3% to GDP. The aftermarket employs 4.2 million people who work at manufacturers, distributors, retailers and repair shops.
In the United States, online sales of aftermarket accessories have showed year over year increases over traditional brick and mortar stores. In fact, according to Hedges & Company, "Sales of auto parts & accessories continued to climb in 2015, and will continue the trend into 2016 to reach $7.4 billion dollars, posting around a 16% increase over 2015.
Singapore, which does not have a domestic automobile industry, is an especially important destination for businesses exporting automotive parts and accessories due to its high automobile turnover stemming from the peculiarities of its driving laws. (In short, car owners are legally required to get rid of their cars after ten years of use and Singapore's compensation scheme to offset the registration fee of new cars has incentivized more frequent turnover.)
High automobile turnover and the preference for new parts means that the market for remanufactured and reconditioned auto parts is very small. Combined with a high demand for "accessories, car-care products, prestige items, and new spare parts" (vehicle owners like to keep their cars in top condition), Singapore's automotive aftermarket is large. In fact, Singapore has become a major automotive components manufacturing base, as several leading multinational corporations (MNCs) have established international procurement offices as well as their Southeast Asia distribution centers.
In Canada, the automotive aftermarket is a C$19.4 billion industry that employs about 420,000 people.
In Australia, the automotive aftermarket industry in 2013 was estimated to generate a AUD$5.2 billion turnover, with 21000 staff, and 1400 manufacturers.
Meeting platform for the international automotive aftermarket is the B2B trade fair Automechanika which takes place every two years in Frankfurt. At last edition the hot topics were connected cars, autonomous driving, alternative drives and the workshop of the future.