Global Motor Vehicle And Parts Dealers Market Size, Forecasts, And Opportunities

December 15, 2021December 15, 2021 by The Business Research Company

Learn about the global motor vehicle and parts dealers market through The Business Research Company, which provides information on motor vehicle and parts dealers market size, motor vehicle and parts dealers market drivers and restraints, motor vehicle and parts dealers market players, the COVID-19 impact on the motor vehicle and parts dealers market, and more.

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The global motor vehicle and parts dealers market is expected to grow from $3920.36 billion in 2020 to $4355.18 billion in 2021 at a compound annual growth rate (CAGR) of 11.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $5676.57 billion in 2025 at a CAGR of 7%.

With the rapid growth in retail data and the availability of technologies to analyse data it will become easier for motor vehicle and parts dealers to identify and meet the needs and expectations of their customers; thus it is expected to drive the market going forward.

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The motor vehicle and parts dealers’ market consists of sales of motor vehicles and parts and related services by entities (organizations, sole traders and partnerships) that sell automobiles, other motor vehicles, automotive parts, accessories, and tires to ultimate users. The companies in the industry typically operate from showrooms where vehicles and related parts are displayed.

Global motor vehicle and parts dealer market segments include:

By Type: Auto Parts And Accessories, Automobile Dealers, Other Motor Vehicle Dealers

By Ownership: Retail Chain, Independent Retailer

By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global motor vehicle and parts dealers market, accounting for 37% of the market in 2020.

Motor vehicle dealers are increasingly offering unique experiences and features to meet customer expectations. Experiential retail refers to a store which offers consumers a chance to buy an experience rather than just an object or service. This trend is driven largely by millennial and their preference for experiences over things. These stores often use technology such as augmented reality and combine traditional elements with mobile apps and activities.

TBRC’s motor vehicle and parts dealers market report covers:

Major Market Players: AutoNation, CarMax, Group 1, Penske Automotive Group, Sonic Automotive.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Motor Vehicle And Parts Dealers Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides motor vehicle and parts dealers market overviews, analyzes and forecasts market size, share, motor vehicle and parts dealers market players, motor vehicle and parts dealers market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s motor vehicle and parts dealers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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