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Auto Parts Stores in the US - Industry Market Research Report

  • August 2017
  • 33 pages
  • Ibisworld
Report ID: 198894

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Pumping the breaks: Advancements in motor vehicle technology will hinder industry expansion

Abstract

Auto Parts Stores in the US

The Auto Parts Stores industry is expected to grow over the five years to 2017, as per capita disposable income and corporate profit have bolstered demand for auto parts. Moreover, favorable car usage trends have led to growth in demand for industry products in the short term.

However, advancements in motor vehicle technology have made it increasingly difficult for vehicle owners to repair and maintain vehicles without professional help. As a result, many consumers are opting to take their vehicles to auto mechanics instead of purchasing auto parts for do-it-yourself repairs, which has threatened industry growth.

Over the five years to 2022, industry revenue is expected to grow at the same rate as the previous period. As the national level of per capita disposable income continues to rise, some consumers will increase their spending on industry products.

However, other consumers will make use of their higher incomes to hire the services of an auto mechanic, foregoing the purchase of replacement auto parts. In addition, the popularity of electric vehicles may hamper demand for industry products, as they are more advanced and often require professional repair services.

This industry comprises operators that sell new and used automotive parts and accessories, repair automobiles and install automotive accessories.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

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