Lightweight vehicles impact ASEAN auto aftermarket

Source：Ringier Metalworking Release Date：2017-01-13 281

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The growing popularity of new, lightweight vehicle models impacting the ASEAN automotive aftermarket. 

The US$19.3 billion ASEAN automotive aftermarket is predicted to surpass US$48 billion in revenues by 2026 end, increasing at a healthy CAGR of 9.6% through 2026, according to Future Market Insights.

Other key trends include: Advances in OEM technology and OEM globalisation, adoption of remote vehicle diagnostic systems, growing awareness about self-inflating tyres, and widespread acceptance of electric vehicle technology, online sales of automotive parts and accessories, and establishment of franchises in emerging countries, especially those where vehicle parc is steadily gaining traction.

Key players focussing on boosting expansion capacity

The key players highlighted in the ASEAN automotive aftermarket include Denso Corporation, Hella KGaA Hueck & Co., Continental AG, Delphi Automotive PLC, ACDelco, Faurecia SA, Magneti Marelli SpA, Robert Bosch GmbH, Aisin Seiki Co., Ltd., and Bridgestone Corporation. Bridgestone, one of the top companies, announced expansion of its international manufacturing capabilities in Germany this year. Post-acquisition of Speedy France, the company also launched a new manufacturing plant based in Indonesia. Continental AG also opened its new production plants in India and China this year.

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