What you need to know

The parts replacement market as defined by Mintel for this report is valued at an estimated £5.37 billion in 2015. Despite its size, the sector has suffered from sluggish growth recently, expanding by only 9% in real prices between 2010 and 2014. Although revenues have been boosted by rises in the costs of raw materials, the market is also being restrained by a number of factors such as the greater reliability of parts, rising competition and the presence of low-cost imports.

Within the market by far the largest segment is replacement tyres. Revenues are estimated at £2.85 billion in 2015 and 53.4% of the total market. Other replacement parts comprise a number of different products (shocks, oil, tyres, exhausts, batteries, brakes, clutches and related components) with revenues valued at an estimated £2.52 billion in 2015.

The supply base for replacement parts is relatively fragmented although the market does support a number of major multinationals. A key development in recent years has been the arrival of low-cost importers although their impact has been variable. Within the replacement tyre market, low-cost imports or budget brands have captured over half of sales in 2015 with South Korean manufacturer, Nexen, believed to lead this sector ahead of names such as Goodyear Dunlop, Michelin, Continental, Bridgestone and Pirelli.

Our research shows that the UK car parc is ageing with 21% of cars over 10 years old. Certain parts, notably tyres, are more likely to be purchased on a regular basis than others while when it comes to channels to purchase parts, specialist retailers are the most popular choice.

Scope of this report

Car aftermarket parts are defined as products that need to be replaced in order that, mechanically, the car may function better or, indeed, at all. In this respect, they differ from car accessories, which may include comfort, security and/or appearance as the prime motivators to purchase.

For the purpose of this report only a number of major aftermarket parts are reviewed. These are defined as those parts that are typically able to be serviced at automotive fast-fit centres in addition to dealers and garages. Replacement tyres are also included in this definition. The full line-up of parts reviewed is as follows:

  • shock absorbers and related parts

  • oil filters and related parts

  • tyres

  • exhausts and related parts

  • batteries

  • brakes and related parts

  • lightbulbs and related parts.

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