DUBLIN–(BUSINESS WIRE)–The report “Global Motor Vehicle and Parts Dealers Market Report 2022” has been added to from ResearchAndMarkets.com offer.
The global motor vehicle and parts dealership market is expected to grow from $4,133.97 billion in 2021 to $4,608.47 billion in 2022 at a compound annual growth rate (CAGR) of 11.5%. The market is expected to reach $6,775.75 billion in 2026 at a compound annual growth rate (CAGR) of 10.1%.
The motor vehicle and auto parts dealership market comprises the sales of motor vehicles and auto parts and related services by entities (organizations, independent traders and partnerships) that sell automobiles, other motor vehicles, auto parts , accessories and tires to end users. Businesses in the industry typically operate out of showrooms where vehicles and related parts are displayed.
The main types of motor vehicle and parts dealers are auto parts and accessories dealers, automobile dealers and other motor vehicle dealers. A retail establishment that sells, rents, or leases new or used automobiles is called an automobile dealership. Ownership types are retail chains and independent retailers run by exclusive retailers/showrooms and inclusive retailers/dealers.
Asia-Pacific was the largest region in the Automotive Vehicles and Parts Dealers market in 2021. North America was the second largest region in the Automotive Vehicles and Parts Dealers market. Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Automotive and parts dealerships are adopting a robust and consistent strategy for data analytics in management. This technology is being deployed to improve supply chain efficiency, streamline operations to engage customers and retain customers, data has become essential for most retail operations.
With the rapid growth of retail data and the availability of technologies to analyze the data, it will become easier for automotive and parts dealers to identify and meet the needs and expectations of their customers, which is expected to drive the market in the future.
Auto dealerships are increasingly offering unique experiences and features to meet customer expectations. Experiential retail refers to a store that offers consumers the opportunity to purchase an experience rather than just an item or service. This trend is largely driven by millennials and their preference for experiences over things. These stores often use technology such as augmented reality and combine traditional elements with mobile apps and activities.
For example, car brand Audi has integrated a virtual reality (VR) experience into its showrooms to attract potential customers. The company designed the VR experience to present its vehicles to potential customers in a more personalized and engaging way while solving the problem of small dealerships unable to stock more than five cars.
Major companies in the Automotive Vehicles and Parts Dealers market include
Penske Automotive Group Inc.
Lithia Motors Inc.
O’Reilly Automobile Inc.
Group 1 Automotive Inc.
Jardine Cycle & Carriage Limited
Advance Auto Parts Inc.
Sonic Automotive Inc.
Main topics covered:
2. Structure of the report
3. Characteristics of the Automotive and Aftermarket Dealers Market
3.1. Market definition
3.2. Key segments
4. Automotive Vehicles and Parts Dealers Market Product Analysis
4.1. Featured products/services
4.2. Key Features and Differentiators
4.3. Development products
5. Supply Chain of Motor Vehicle and Aftermarket Dealers Market
5.1. Supply Chain
5.3. End customers
6. Automotive and Aftermarket Dealer Market Customer Information
6.1. Customer preferences
6.2. End-use market size and growth
7. Automotive Vehicles and Parts Dealers Market Trends and Strategies
8. Impact of COVID-19 on Motor Vehicle and Parts Dealerships
9. Automotive Vehicles and Parts Dealers Market Size and Growth
9.1. Market size
9.2. Historical Market Growth, Value (Billions of dollars)
9.2.1. Market Drivers
9.2.2. Market Constraints
9.3. Market growth forecast, value (in billions of dollars)
9.3.1. Market Drivers
9.3.2. Market Constraints
10. Automotive and Aftermarket Dealership Market Regional Analysis
10.1. Global Automotive and Parts Dealership Market, 2021, by Region, Value (USD Billion)
10.2. Global Automotive and Parts Dealership Market, 2016-2021, 2021-2026F, 2031F, Historical & Forecast, By Region
10.3. Global Automotive and Parts Dealership Market, Growth and Market Share Comparison, by Region
11. Automotive and Aftermarket Dealership Market Segmentation
11.1. Global Automotive and Aftermarket Dealership Market, Segmentation by Type, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
Automotive parts and accessories
Other Motor Vehicle Dealers
11.2. Global Automotive and Aftermarket Dealership Market, Segmentation by Ownership, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
Chain of shops
11.3. Global Automotive and Aftermarket Dealership Market, Segmentation by Store Type, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
Inclusive Retailers/Reseller Store
12. Automotive and Aftermarket Dealership Market Metrics
12.1. Motor vehicle and parts dealers market size, percentage of GDP, 2016-2026, global
12.2. Average per capita spending in the motor vehicle and parts dealership market, 2016-2026, world
For more information on this report visit https://www.researchandmarkets.com/r/thrqy1