Turkey Automotive Aftermarket Market Growth and Share, Trends, Industry Demand, Revenue, Business Challenges, CAGR Status and Future Opportunities Till 2033: SPER Market Research
The automotive aftermarket includes car manufacture, remanufacturing, distribution, redistribution, end-of-sale, reselling, and installation activities. The aftermarket includes parts for replacement, collision repair, cosmetic, and performance enhancement. The adoption of sophisticated technology has resulted in the digitization of car maintenance and component sales, increasing the attractiveness of the automotive aftermarket. Digitally driven products and services are establishing new trends and accelerating market growth.
According to SPER market research, ‘Turkey Automotive Aftermarket Market Size- By Vehicle Type, By Replacement Parts, By Distribution Channel, By Certification- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Turkey Automotive Aftermarket Market is predicted to reach USD XX Billion by 2033 with a CAGR of XX%.
Turkey has positioned itself as a strong production and engineering base within the global automotive industry value chain. With its amazing capabilities, Turkey has the 15th largest automobile sector in the world. The country’s average export rate remains consistently strong, cementing its position as a key centre for multinational brands in terms of production, engineering, and export to global markets.
The Turkish automotive industry is mostly concentrated in a few significant towns, including Izmit, Bursa, Ankara, Izmir, and Aksaray, which serve as hubs for manufacturing and innovation in the sector. Furthermore, favourable business conditions have fueled an increase in domestic demand in Turkey’s automotive industry.
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Replacement parts are in high demand, as is the need for better safety, connection, convenience, and driver assistance features. These characteristics are defining Turkey’s advanced automobile sector. However, difficulties such as improving and controlling chip shortages are identified as possible challenges for automakers throughout the area.
OEM manufacturers are strategically preparing to expand their manufacturing facilities in Turkey, with support from the Turkish government, which sees the automobile sector as a significant revenue generator. The government actively promotes foreign direct investment in the automotive industry, hence accelerating its expansion.
Turkey stands out as one of the most important and rapidly expanding vehicle markets in the area. The success of the industry is attributed to a variety of factors, including the availability of trained labour, effective research and development efforts, geographical advantages, and government help. With a good economic outlook and rising consumer purchasing power, the country is expected to see a significant increase in auto sales by forecasted year.
COVID Impact: The COVID-19 pandemic had a severe influence on the Turkish automotive aftermarket business, including supply chain interruptions, lower consumer spending, and decreased vehicle utilisation owing to lockdown measures. With economic uncertainty, consumers prioritised necessary spending, affecting aftermarket sales. Furthermore, movement limitations and social separation techniques limited car repair and maintenance. However, once limits were lifted, aftermarket demand gradually recovered, driven by pent-up repair demands and a trend towards personal vehicle ownership for safety reasons, generating confidence for market rebound despite continued obstacles.
Turkey Automotive Aftermarket Market Key Players:
Additionally, some of the market key players are Aisin Corporation, Basbug Auto Spare Parts AS, Continental AG, ZF Friedrichshafen AG, Other.
For More Information, refer to below link:-
Turkey Automotive Aftermarket Market Revenue
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