Cars have long been a cornerstone of vehicle-based businesses, and the automotive industry is continually evolving. Currently, the aftermarket car parts sector is experiencing significant growth in America, fueled by increasing demand for enhancements like cameras, sensors, and advanced control systems. This thriving segment is broadly recognized as the automotive aftermarket. Furthermore, rising disposable incomes in the US are empowering consumers to personalize their vehicles, further boosting this market.
Understanding the American Automotive Aftermarket Segment
The aftermarket in the U.S. automotive industry refers to the secondary market where vehicle owners purchase parts, components, and accessories after the initial sale of the vehicle. This dynamic market is gaining considerable traction in America, with leading automotive aftermarket companies innovating to establish profitable businesses.
Many original equipment manufacturers (OEMs) are now considering launching their own lines of aftermarket products. Moreover, these major corporations are increasingly collaborating with top aftermarket companies to maintain their market presence and broaden their product offerings.
The demand for aftermarket solutions is significantly driven by modern consumer preferences, particularly millennials who seek advanced features and functionalities for their vehicles. American consumers are increasingly drawn to high-quality products offered by reputable aftermarket companies. These aftermarket parts provide a vast array of customization options exceeding those available as original equipment. In fact, the United States is rapidly becoming the largest consumer base for products from major automotive aftermarket companies.
The Valuation of Major Automotive Aftermarket Companies in America
According to the “American Automotive Aftermarket Companies’ Market Report,” published by market analysts at Verified Market Research, the aftermarket is expanding at an exceptional rate.
Driven by consistent growth in consumer interest across America, market indicators suggest that the aftermarket’s valuation is poised to surpass that of other established segments within the automotive industry. This surge indicates a highly lucrative business environment. For a detailed overview, you can download a sample report here.
America’s Top 9 Automotive Aftermarket Companies
Robert Bosch GmbH
Robert Bosch GmbH is a global engineering and technology company headquartered in Gerlingen, near Stuttgart, Germany. Founded in 1886 by Robert Bosch, the company operates across various sectors, including automotive, industrial technology, consumer goods, and building technology. Dr. Stefan Hartung currently serves as Chairman of the Board of Management.
Subsidiaries: BSH Hausgeräte, ETAS, Bosch Rexroth, and more.
Products Offered: A wide range of automotive parts, including braking systems, fuel injection systems, starters, alternators, car batteries, filters, lighting, and diagnostics tools. Beyond automotive, Bosch offers power tools, security systems, home appliances, and is involved in engineering, electronics, cloud computing, and IoT solutions.
Bosch, as a significant player in the automotive aftermarket, focuses on delivering “Invented for life” technologies. Their aftermarket division is renowned for providing reliable and innovative solutions to workshops and drivers, ensuring vehicle maintenance, repair, and upgrades are performed to the highest standards. They are a trusted supplier of quality aftermarket parts in the American market, known for their engineering excellence and comprehensive product portfolio covering virtually all vehicle systems.
Denso Corporation
Denso Corporation, headquartered in Kariya, Aichi, Japan, is a leading global automotive supplier. Established in 1949, with Koji Arima as its CEO, Denso has strong ties to Toyota Motor and Toyota Industries.
Subsidiaries: Denso Wave, Denso Techno Co., Ltd., and more.
Products Offered: A diverse range of automotive components, including oxygen sensors, air conditioning compressors, starters, alternators, fuel pumps, oil and air filters, windshield wipers, spark plugs, and engine management systems.
Denso stands as the largest aftermarket parts manufacturer in the American market, recognized for its cutting-edge technology and components that are favored by top American vehicle manufacturers. Their aftermarket products benefit from OEM-level engineering, ensuring high performance, reliability, and durability. Denso’s commitment to quality and innovation has solidified its position as a leading supplier in the automotive aftermarket, providing a wide array of essential and upgrade components for vehicles.
Magna International Inc.
Magna International Inc. is based in Aurora, Ontario, Canada, and ranks among Canada’s largest corporations. Frank Stronach founded Magna in 1957, and Seetarama Kotagiri is the current CEO.
Subsidiaries: Magna Steyr, Magna PT, Cosma International Inc., and more.
Products Offered: Comprehensive automotive systems, modules, and components, including body exteriors and structures, power and vision technologies, seating systems, and complete vehicle assembly.
Magna International has been a key player in the automotive industry for over half a century. Their innovation and advanced technologies have secured them a prominent position among the top aftermarket parts suppliers in America. While known extensively as an OEM supplier, Magna’s expertise in automotive manufacturing translates to high-quality aftermarket products, particularly in body parts, lighting, and exterior components. Their engineering and manufacturing prowess ensures that aftermarket parts meet rigorous standards of quality and performance.
Continental AG
Continental AG, headquartered in Hanover, Germany, has a rich history dating back to 1871. Founded by Alfred Teves, Continental is now led by CEO Nikolai Setzer.
Subsidiaries: Barum, ContiTech, Vitesco Technologies, and more.
Products Offered: A broad spectrum of automotive products, including tires, brake systems, powertrain and chassis components, automotive safety systems, vehicle electronics, instrumentation, and infotainment systems.
Continental Automotive is dedicated to producing versatile and reliable products. They uphold core values of delivering safe, efficient, and affordable aftermarket solutions, making them a major name in the American market. Continental’s aftermarket division leverages their OEM expertise to offer a wide range of high-quality replacement parts and upgrades, particularly in braking, tires, and electronics. Their commitment to safety and performance makes them a trusted brand for aftermarket components.
ZF Friedrichshafen AG
ZF Friedrichshafen AG is headquartered in Friedrichshafen, Germany. Established in 1915 by Ferdinand von Zeppelin, ZF is currently headed by CEO Wolf-Henning Scheider. The Zeppelin Foundation is the company’s parent organization.
Subsidiaries: WABCO Holdings, 2getthere B.V., and more.
Products Offered: Comprehensive driveline and chassis technology, including transmission systems, steering systems, axle components, electronic systems, advanced driver-assistance systems (ADAS), inflatable restraint systems/airbags, seat belt systems, and brake systems.
ZF Friedrichshafen is recognized as a rapidly growing organization in the U.S. aftermarket parts sector. Their extensive portfolio includes systems for passenger cars and commercial vehicles. ZF’s aftermarket offerings benefit from their strong OEM background, providing high-quality replacement parts and performance upgrades, especially in transmissions, chassis components, and steering systems. Their focus on innovation and safety positions them as a key player in enhancing vehicle performance and safety in the aftermarket.
Aisin Corporation
Aisin Corporation is headquartered in Kariya, Aichi, Japan. Founded in 1969 (though Aisin Seiki was founded in 1949, merged to become Aisin Corporation in 2021) by Kiichiro Toyoda, Aisin is now led by CEO Morio Nishikawa.
Subsidiaries: ADVICS CO.,LTD., Aisin Takaoka Co., Ltd., and more.
Products Offered: A wide array of automotive parts and systems, including drivetrain components, chassis and brake systems, body parts, engine-related parts, and electronics.
Aisin Corporation is a Japanese company producing top-tier aftermarket products. The company’s R&D division is among the most advanced in the automotive sector, contributing significantly to aftermarket innovation in America. Aisin’s aftermarket parts are known for their quality, reliability, and advanced engineering, stemming from their strong OEM partnerships. They provide a comprehensive range of components, ensuring vehicles maintain optimal performance and durability.
Lear Corporation
Lear Corporation is headquartered in Southfield, Michigan, United States. William Powell Lear founded the company in 1917, and Raymond E. Scott is the current CEO.
Subsidiaries: Xevo Inc., and more.
Products Offered: Automotive seating systems, flooring and acoustic systems, door panels, headliners, electrical and electronic distribution systems, and instrument panels.
Lear Corporation focuses on enhancing in-vehicle experiences for customers in American and global markets. Their skilled workforce is driven by a commitment to operational excellence and sustainability. A Fortune 500 company, Lear is a highly successful enterprise in the automotive aftermarket. Lear’s aftermarket focus is primarily on interior components, leveraging their expertise in seating, acoustics, and electrical systems to offer high-quality replacement and upgrade options for vehicle interiors, enhancing comfort and functionality.
Flex-N-Gate Corporation
Flex-N-Gate Corporation is based in Illinois, United States. Founded in 1956, Shahid Khan is the owner, President, and CEO of Flex-N-Gate.
Subsidiaries: Ventra Salem, LLC, Flex-N-Gate Royal Oak LLC, and more.
Products Offered: Metal and welded components, assemblies, and plastic parts for the automotive industry, including bumpers, lighting, exterior trim, and complex assemblies.
Flex-N-Gate Corporation is the 7th largest American automotive parts supplier and the 33rd largest globally. They are a highly dependable organization known for their comprehensive services. Flex-N-Gate’s aftermarket presence is significant in exterior components, particularly bumpers and lighting. Their reputation for quality and comprehensive manufacturing capabilities ensures reliable and durable aftermarket parts for vehicle repairs and upgrades.
Adient PLC
Adient PLC is headquartered in Ireland, established in 2016 as a spin-off from Johnson Controls International’s Automotive Experience division. Douglas G. DelGrosso is the President and CEO.
Subsidiaries: Adient US LLC, Adient Aerospace, LLC, and more.
Products Offered: Complete seating systems, commercial vehicle seats, foam, trim, and related components.
Adient is committed to reducing carbon footprint globally, especially in America. They continually innovate new products and systems that contribute to environmental sustainability. Adient is a leader in promoting eco-friendly practices within the automotive industry. While primarily focused on OEM seating, Adient’s aftermarket contributions are in replacement seating components and trim, maintaining high standards of comfort and quality. Their commitment to sustainability is increasingly relevant in the aftermarket sector, appealing to environmentally conscious consumers.
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