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

The Auto Parts Stores industry is expected to grow over the five years to 2018, 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. Over the five years to 2023, industry revenue is expected to grow at a similar rate as the previous period...purchase to read more.

Industry Statistics & Market Size
Revenue
$59bn
Annual Growth 13-18
1.8%
Forecast Growth 18-23
Profit
Employment
383,369
Businesses
63,051

Industry Threats & Opportunities

  • The industry has been in a period of long-term stagnation, with little room for substantial revenue expansion
  • The industry has undergone substantial consolidation
  • Newer vehicle owners are more likely to outsource repair to auto mechanics or dealerships
  • Industry Report - Industry Analysis Chapter

    Operators in the Auto Parts Stores industry primarily sell new and used automotive parts and accessories, while some operators offer repair and installation services as well. Over the five years to 2018, the industry has experienced fairly stable growth. The industry benefited during the period from increased levels of per capita disposable income and corporate profit, which enabled more consumers to spend on industry services. Moreover, the average age of vehicles is expected to grow over the five years to 2018. As vehicles become older, they require more frequent maintenance and repairs, which bolsters demand for industry products. However, the industry is in a period of long-term stagnation, with little room for substantial revenue expansion. As ...purchase to read more.

    Additional Insights for the Auto Parts Stores Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Auto Parts Stores Industry are

  • Having a cost-effective distribution system
  • Control of distribution arrangements
  • Having a loyal customer base
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Average age of vehicle fleet in the Auto Parts Stores industry impact industry performance..

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    What's in this report

    What is the Auto Parts Stores Industry?

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

    Industry Products
  • Critical parts (new)
  • Critical parts (used)
  • Maintenance parts
  • Performance parts
  • Vehicle accessories
  • Industry Activities
  • Selling automotive parts and accessories
  • Distributing automotive parts
  • Repairing automobiles
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Average age of vehicle fleet
  • Total vehicle miles
  • New car sales
  • Number of motor vehicle registrations

  • Current Performance
  • Long-term stagnation
  • Stable revenue base
  • Short-term drivers of growth
  • Industry consolidation
  • Profit growth
  • Chart: Revenue Growth

  • Industry Outlook
  • Continued stagnation
  • Stable revenue base
  • Profit and wages
  • Table: Auto Parts Stores Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Auto Parts Stores Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • New Car Dealers
  • Used Car Dealers
  • Auto Mechanics
  • Car Body Shops
  • Car Wash & Auto Detailing
  • Oil Change Services
  • Consumers

  • Key Selling Industries
  • Auto Parts Wholesaling

  • Products & Services
  • Critical parts (new)
  • Performance parts
  • Maintenance parts
  • Critical parts (used)
  • Vehicle accessories
  • Chart: Auto Parts Stores Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Households and individuals
  • Repair shops
  • Other
  • Retailers and wholesalers for resale
  • Chart: Major Market Segmentation for the Auto Parts Stores Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesDepreciation, rent, utilities, marketing and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Auto Parts Stores

  • Basis of Competition
  • Internal
  • External

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Auto Parts Stores Industry

  • Industry Globalization
    AutoZone Inc., O'Reilly Automotive Inc., Advance Auto Parts Inc., Genuine Parts Company,
  • Table: AutoZone Inc. - financial performance
  • Table: O'Reilly Automotive Inc. - financial performance
  • Table: Advance Auto Parts Inc. - financial performance
  • Table: Genuine Parts Company - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Auto Parts Stores Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Auto Parts Stores Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Number of motor vehicle registrations (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Aftermarket
  • The market for spare parts, accessories and components.
  • Do-It-For-Me (Difm)
  • Those who purchase materials themselves and then hire a third party to complete the project.
  • Do-It-Yourself (Diy)
  • Those who purchase products and complete projects themselves.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Auto Parts Stores Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Auto Parts Stores:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Auto Parts Stores market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Auto Parts Stores, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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