Global Motor Vehicle And Parts Dealers Market Trends And Strategies Of Major Players In The Motor Vehicle And Parts Dealers Market 2021-2030
17 Feb, 2021
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. The motor vehicle and parts dealers’ market is segmented into auto parts and accessories; automobile dealers and other motor vehicle dealers.
Global Motor Vehicle And Parts Dealers Market Size And Drivers:
The global motor vehicle and parts dealer market is expected to grow from $3.92 trillion in 2020 to $4.35 trillion in 2021 at a compound annual growth rate (CAGR) of 11.1%. The market is expected to reach $5.67 trillion in 2025 at a CAGR of 7%. With the rapid growth in retail data and the availability of technologies to analyze 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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Trends In The Global Motor Vehicle And Parts Dealers Market
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.
Global Motor Vehicle And Parts Dealers Market Segments:
The global motor vehicle and parts dealer market is further segmented based on type, ownership, type of store and geography.
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 global motor vehicle and part dealer market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, Asia Pacific is the largest region in the global motor vehicle and parts dealer market, accounting for 37% of the market.
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Motor Vehicle And Parts Dealers Global Market Report 2021 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 and growth for the global motor vehicle and parts dealers market, motor vehicle and parts dealers market share, motor vehicle and parts dealers market players, motor vehicle and parts dealers market segments and geographies, motor vehicle and parts dealers market’s leading competitors’ revenues, profiles and market shares. The motor vehicle and parts dealers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.