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          1. Automotive Parts & Accessories Stores Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 8/24/2020
            SIC Codes: 5015, 5531
            NAICS Codes: 44131
            Chapters Include:
            Industry Overview Trends & Challenges Industry Forecast
            Quarterly Industry Update Call Prep Questions Website & Media Links
            Business Challenges Financial Information Glossary & Acronyms
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            Excerpt from Automotive Parts & Accessories Stores Industry Profile

            Companies in this industry operate physical retail establishments that sell automobile parts, supplies, batteries, and lubricants. Major companies include Advance Auto Parts, AutoZone, and The Pep Boys (all based in the US), as well as ATU Auto-Teile-Unger (Germany); AUTOBACS SEVEN and Yellow Hat (Japan); Halfords Group (UK); and Supercheap Auto (Australia).

            The global automotive industry is expected to experience healthy growth over the next several years, due largely to economic expansion in emerging markets. The global vehicle population of cars and light trucks is expected to grow 27% between 2015 and 2022, according to IHS Automotive, with the number of vehicles in operation in China rising 64% by 2018. China is the world's largest consumer of auto parts, followed by the US, Japan, and Germany, according to Global Market Insights. Mature economies in North America and Europe will likely grow but at a much slower pace than emerging markets.

            The US automobile parts retail industry includes about 37,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $90 billion. The US automotive aftermarket is expected to grow at a compound annual rate of 3.4% through 2021, to an estimated $327 billion, according to the Automotive Aftermarket Suppliers Association (AASA).

            The industry includes retailers of new and used automobile parts. Some large retailers also distribute auto parts. Tire wholesalers and tire dealers, which are not part of the industry, are covered in separate profiles.

             
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