The European Wear & Tear Parts Market 2012 – 2020: Market Size, Market Forecast and Recommendations

2017-03-21
Price :
Published : Mar-2017
No. of Pages : 77

European wear and tear market has seen volumes fall in recent years, as the effects of the recession and subsequent European scrappage schemes have rippled through the aftermarket. Overall values also suffered over the same period. That has now started to change. The exhaust system market has started to show an increase in volume, growing by 2.2% between 2012 and 2016. The catalytic converter market has also declined in volumes, being affected by reduced quantities of precious metals within them, which influences their longevity; the overall market has declined by 1.8% between 2012 and 2016.

Emissions regulations are one of the major influences on the manufacture of exhaust systems. The requirement for manufacturers to adhere to strict European emissions regulations means that vehicles and the components that are found in them are becoming lighter. As a result, the major components are not as heavy duty and need to be replaced more frequently. This is true for exhaust systems.

Across Europe there has also been a trend for motorists to own their vehicle for longer; the result is that the parc in Europe is ageing. These older cars require their exhaust systems to be replaced more frequently than do the newer vehicles which are entering the parc.

The European catalytic converters market is influenced by a number of different factors. In the UK, the catalytic converter market is shaped by a lot of early life failures, with the catalytic converters either becoming blocked or poisoned. With the proliferation of speed bumps, particularly in urban areas, many are also getting damaged before they have reached the end of their intended working life.

As the European new car market continues to recover with strong new vehicle sales, with registrations increasing and more vehicles are in the parc under warranty. This affects the volume of brake components that are sold within the aftermarket. With such a large proportion of the parc being under guarantee due to many drivers now buying new cars, these vehicles tend to be repaired in the main dealerships rather than independents.

Despite only having a sales volume of 37,252,037 units in 2016, shock absorbers generated just under €29,038,449,687 of sales across Europe. Proportionally, this makes the component one of the more valuable in the aftermarket. The volume of shock absorbers sold in Europe is expected to grow by 5.3% between 2017 and 2020, yet overall, values are expected to increase by an average of 9.3%.

“The European Wear & Tear Parts Market 2012 – 2020: Market Size, Market Forecast and Recommendations”, report provides an executive-level overview of the European vehicle Wear & Tear parts market and the major issues currently affecting wear and tear parts in the European aftermarket. Moreover, this report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the European Wear & Tear Parts market and helps manufacturers and retailers to understand and succeed in the challenging Wear & Tear Parts market.

Scope

  • The European wear and tear market has seen volumes fall in recent years, as the effects of the recession and subsequent European scrappage schemes have rippled through the aftermarket.
  • Overall values also suffered over the same period. That has now started to change. The exhaust system market has started to show an increase in volume, growing by 2.2% between 2012 and 2016.
  • The catalytic converter market has also declined in volumes, being affected by reduced quantities of precious metals within them, which influences their longevity; the overall market has declined by 1.8% between 2012 – 2016. Brake part volumes are increasingly influenced by the improvements in friction materials that have been made, increasing lifespans and reducing replacement rates.
  • The brake discs market increased by 7.0%, brake drums by 9.3%, brake pads by 4.5% and brake shoes by 8.2%.
  • The shock absorbers market has also seen an increase in volumes sold, growing by 8.5%, while the starter batteries market has grown by 5.5%. Finally, the windscreen wipers market has grown by 5.0%.
  • In many ways this has been influenced by the strong upturn in the European new cars market, which has seen the number of new registrations grow strongly year on year.
  • This report provides an overview of the major issues currently affecting wear and tear parts in the European aftermarket.

Reasons to buy

  • This Trend Report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the European consumables market based on insights from within GlobalData’s proprietary aftermarket database, consumer insight from our bespoke annual survey and interviews with industry experts.
  • The report is designed for an executive-level audience, boasting presentation quality that allows it to be turned into presentable material immediately.
  • The broad but detailed perspective will help manufacturers and retailers to understand and succeed in the challenging consumables market.
Filed in: Automotive
Publisher : GlobalData
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