[Ranking] TOP 25 Automotive Aftermarket / Automotive Companies Q3/2023
Intro
The automotive aftermarket industry plays a crucial role in the global economy, providing products and services that support the maintenance, repair, and customization of vehicles. With millions of cars on the road, this industry ensures that drivers have access to a wide range of aftermarket parts, accessories, and services to keep their vehicles running smoothly.
The influence of the automotive aftermarket industry extends far beyond just car owners. It has a ripple effect across various sectors, including manufacturing, retail, and technology. Aftermarket companies collaborate with original equipment manufacturers (OEMs) to develop innovative products, while retailers and e-commerce platforms serve as distribution channels. Additionally, advancements in technology, such as the rise of electric vehicles and connected cars, have created new opportunities and challenges for the industry.
The economic magnitude of the automotive aftermarket industry is remarkable. According to a report by Grand View Research, the global automotive aftermarket size is expected to reach $486.4 billion by 2027, growing at a compound annual growth rate (CAGR) of 4.0%. This growth is driven by factors such as increasing vehicle age, rising disposable income, and the growing demand for vehicle customization.
Recent trends in the automotive aftermarket industry have been shaped by several factors. One notable trend is the growing importance of sustainability and environmental consciousness. As consumers become more environmentally aware, there is a rising demand for eco-friendly aftermarket products and services. Additionally, the industry is also grappling with challenges such as the impact of digitalization on traditional brick-and-mortar retailers and the need for skilled technicians to keep up with the evolving technology in modern vehicles.
The landscape of the automotive aftermarket industry is constantly changing, driven by technological advancements, regulatory changes, and shifting consumer preferences. This dynamic environment sets the stage for the exploration of the industry's top companies, which play a pivotal role in shaping its future. From global leaders to niche players, these companies are at the forefront of innovation, providing solutions to meet the evolving needs of vehicle owners worldwide.
Ranking
#25 Gentex Corporation
Employees: 5.6K
Revenue: 1.8B$
Website: https://www.gentex.com
Description: Gentex Corporation, headquartered in Zeeland, Michigan, is a leading player in the Automotive Aftermarket industry. Founded in 1974, the company has grown to become a trusted provider of innovative products and solutions in the automotive sector. With a workforce of approximately 5.6 thousand employees, Gentex Corporation is dedicated to delivering cutting-edge technologies and superior quality to its customers. The company's revenue stands at 1.8 billion US dollars, reflecting its strong market position and consistent growth. Gentex Corporation continues to excel in the Automotive Aftermarket industry, offering advanced solutions for vision, connectivity, and electronic systems to enhance safety, convenience, and overall driving experience.
#24 Cooper Tire & Rubber
Employees: 10K
Revenue: 2.8B$
Website: https://www.coopertire.com/
Description: Cooper Tire & Rubber Company, headquartered in Findlay, Ohio, is a leading manufacturer and marketer of replacement tires in the Automotive Aftermarket industry. Established in 1914, the company has a rich history of producing high-quality tires for a wide range of vehicles including cars, trucks, and SUVs. With a workforce of approximately 10,000 employees, Cooper Tire & Rubber operates multiple manufacturing facilities and distribution centers across North America. The company's dedication to innovation and advanced tire technologies has earned it a strong reputation among consumers and automotive enthusiasts alike. With annual revenue of 2.8 billion dollars, Cooper Tire & Rubber continues to thrive in the competitive aftermarket industry, providing reliable and durable tires for millions of vehicles worldwide.
#23 Visteon
Employees: 10K
Revenue: 3B$
Website: https://www.visteon.com
Description: Visteon is a leading global automotive technology company that operates in the Automotive Aftermarket industry. Headquartered in Van Buren Township, United States, Visteon specializes in designing and manufacturing electronics products for vehicle manufacturers. The company was founded in 2000 and currently employs approximately 10,000 people. Visteon generates an estimated revenue of 3 billion dollars. With a strong focus on innovation, Visteon provides a range of advanced solutions including instrument clusters, information displays, audio systems, and other connected car technologies. Their cutting-edge products enhance the driving experience and contribute to the overall performance and safety of vehicles in the automotive aftermarket sector.
#22 Yokohama Rubber
Employees: 30K
Revenue: 5B$
Website: https://www.yokohama-online.com/
Description: Yokohama Rubber is a leading player in the Automotive Aftermarket industry. With its headquarters in Tokyo, Japan, the company has been operating since 1917. Yokohama Rubber employs approximately 30,000 employees worldwide, making it a significant presence in the industry. The company generates an impressive revenue of 5 billion dollars. Yokohama Rubber specializes in manufacturing and distributing automotive tires, providing high-quality products for various types of vehicles. Their expertise and innovative approach have made them a trusted choice for consumers in the automotive aftermarket sector. Through their website, customers can access detailed information about their product range and find suitable tires for their vehicles.
#21 Hella
Employees: 39K
Revenue: 6.8B$
Website: https://www.hella.com/
Description: Hella is a leading Automotive Aftermarket company headquartered in Lippstadt, Germany. With a history dating back to 1899, Hella has established itself as a trusted name in the automotive industry. The company operates in the aftermarket sector, providing a wide range of products and solutions for the automotive aftermarket, including lighting, electronics, and thermal management systems. Hella's extensive portfolio caters to various automotive applications, ensuring safe and reliable performance. With a workforce of approximately 39,000 employees, Hella continues to innovate and deliver high-quality products to customers worldwide. In 2020, the company reported a revenue of 6.8 billion US dollars, solidifying its position as a key player in the automotive aftermarket industry.
#20 Autoliv
Employees: 67K
Revenue: 8.6B$
Website: https://www.autoliv.com/
Description: Autoliv, headquartered in Stockholm, Sweden, is a leading automotive safety company operating in the Automotive Aftermarket industry. With a history dating back to 1953, Autoliv specializes in the development, production, and sale of automotive safety systems, including airbags, seatbelts, and steering wheels. The company's extensive range of products and solutions are designed to enhance the safety of vehicles, protecting both drivers and passengers. Autoliv has a global presence and serves customers in over 27 countries, providing innovative safety technologies to various automotive manufacturers and aftermarket providers. With a workforce of approximately 67,000 employees, Autoliv generates an annual revenue of 8.6 billion dollars, solidifying its position as a key player in the automotive safety industry.
#19 Dana Incorporated
Employees: 30K
Revenue: 8.6B$
Website: https://www.dana.com/
Description: Dana Incorporated, based in Maumee, United States, is a leading player in the Automotive Aftermarket industry. Founded in 1904, Dana has established itself as a trusted provider of drivetrain, sealing, and thermal-management technologies for various automotive applications. With a workforce of around 30,000 employees, the company operates globally and serves customers in both the original equipment and aftermarket sectors. Dana's extensive product portfolio includes axles, driveshafts, gaskets, cooling systems, and other components that enhance vehicle performance and efficiency. The company's commitment to innovation and sustainability has enabled it to maintain a strong market presence and generate an impressive annual revenue of 8.6 billion dollars.
#18 Motherson Sumi Systems
Employees: 135K
Revenue: 12.5B$
Website: https://www.motherson.com
Description: Motherson Sumi Systems, headquartered in Noida, India, is a major player in the Automotive Aftermarket industry. Founded in 1986, the company has grown to employ approximately 135,000 people worldwide. With an annual revenue of 12.5 billion dollars, Motherson Sumi Systems is a leading supplier of automotive components and solutions. The company specializes in the design, development, and manufacturing of wiring harnesses, mirrors, plastic components, and modules for the automotive industry. Motherson Sumi Systems has a strong presence in the aftermarket sector, providing high-quality products to meet the needs of customers in the automotive repair and maintenance market. With its commitment to innovation and customer satisfaction, Motherson Sumi Systems continues to be a trusted partner in the Automotive Aftermarket industry.
#17 Aptiv
Employees: 147K
Revenue: 12.6B$
Website: https://www.aptiv.com/
Description: Aptiv is a leading provider of automotive technology solutions in the Automotive Aftermarket industry. Headquartered in Troy, United States, the company was founded in 1994. With a workforce of approximately 147,000 employees, Aptiv operates globally to offer innovative products and services to the automotive market. The company's revenue reached 12.6 billion dollars, solidifying its position as a major player in the industry. Aptiv specializes in providing advanced electrical systems, active safety features, and software solutions for vehicles. With its cutting-edge technology and strong presence in the market, Aptiv continues to drive innovation and shape the future of the automotive aftermarket sector.
#16 Mahle
Employees: 80K
Revenue: 14B$
Website: https://www.mahle.com
Description: Mahle is a leading company in the Automotive Aftermarket industry. Headquartered in Stuttgart, Germany, Mahle has been in operation since 1920. With a workforce of 80,000 employees, the company generates a revenue of 14 billion dollars. Mahle specializes in providing innovative solutions and products for the automotive aftermarket, catering to the needs of vehicle owners and repair shops. Their comprehensive range of products includes engine components, filtration systems, air conditioning systems, and thermal management solutions. Mahle's commitment to quality and excellence has made them a trusted partner for automotive professionals and enthusiasts worldwide.
#15 Faurecia
Employees: 110K
Revenue: 17.5B$
Website: https://www.faurecia.com/
Description: Faurecia is a leading automotive technology company operating in the Automotive Aftermarket industry. Headquartered in Nanterre, France, the company was founded in 1997. With a workforce of approximately 110,000 employees, Faurecia specializes in providing innovative solutions for the automotive industry. The company offers a wide range of products and services, including seating systems, interior systems, and clean mobility solutions. Faurecia's revenue for the latest fiscal year amounted to 17.5 billion US dollars. As a major player in the Automotive Aftermarket sector, Faurecia continues to drive advancements in automotive technology and contribute to the overall growth of the industry.
#14 Valeo
Employees: 115K
Revenue: 19.5B$
Website: https://www.valeo.com
Description: Valeo, headquartered in Paris, France, is a leading player in the Automotive Aftermarket industry. Founded in 1923, the company has a workforce of approximately 115,000 employees worldwide. With a revenue of 19.5 billion dollars, Valeo is a major contributor to the automotive sector. The company specializes in the design, production, and distribution of automotive components and systems. Valeo's products cater to various segments within the aftermarket, including lighting, electrical systems, thermal systems, and more. Through its innovative solutions and extensive global presence, Valeo continues to drive advancements in the automotive aftermarket industry.
#13 Lear Corporation
Employees: 165K
Revenue: 22B$
Website: https://www.lear.com
Description: Lear Corporation is a leading automotive aftermarket company based in Southfield, United States. With its headquarters in North America, Lear Corporation has been in operation since 1917. The company has a workforce of approximately 165,000 employees worldwide. Lear Corporation generates an annual revenue of 22 billion US dollars. Specializing in automotive aftermarket solutions, Lear Corporation offers a wide range of products and services to cater to the needs of the automotive industry. Through its innovative approach and commitment to quality, Lear Corporation has established itself as a key player in the automotive aftermarket industry.
#12 Delphi Technologies
Employees: 160K
Revenue: 22B$
Website: https://www.delphi.com/
Description: Delphi Technologies is a leading global provider of technology for the automotive aftermarket industry. With its headquarters in London, United Kingdom, the company operates in Europe. Founded in 1994, Delphi Technologies has grown to employ approximately 160,000 people worldwide. The company generates a revenue of 22 billion US dollars. Delphi Technologies offers a wide range of products and services to the automotive aftermarket, including fuel systems, engine management systems, and thermal systems. With a strong focus on innovation and sustainability, Delphi Technologies is committed to providing high-quality solutions that meet the evolving needs of the automotive industry.
#11 Michelin
Employees: 125K
Revenue: 22B$
Website: https://www.michelin.com/
Description: Michelin, headquartered in Clermont-Ferrand, France, is a leading company in the Automotive Aftermarket industry. Founded in 1889, Michelin has established itself as a global leader in tire manufacturing and related automotive services. With approximately 125,000 employees worldwide, Michelin operates in various segments of the automotive aftermarket, including tire sales, distribution, and maintenance services. The company's extensive product portfolio offers a wide range of high-quality tires for passenger cars, trucks, motorcycles, and other vehicles. Michelin's commitment to innovation and sustainability has driven its success, with a revenue of 22 billion dollars. Through its website, Michelin provides customers with comprehensive information about its products, services, and initiatives, making it a trusted partner for both consumers and businesses in the automotive industry.
#10 Sumitomo Electric Industries
Employees: 200K
Revenue: 34B$
Website: https://global-sei.com/
Description: Sumitomo Electric Industries is a leading player in the Automotive Aftermarket industry. With its headquarters in Osaka, Japan, the company has been operating since 1897. Sumitomo Electric Industries employs approximately 200,000 employees worldwide. The company has achieved significant revenue growth, with an estimated annual revenue of 34 billion U.S. dollars. Sumitomo Electric Industries specializes in providing a wide range of automotive aftermarket products and services, including electrical components, wiring harnesses, power transmission systems, and advanced materials. With a strong commitment to innovation and quality, Sumitomo Electric Industries continues to be a trusted partner for the automotive industry, offering cutting-edge solutions that meet the evolving needs of customers globally.
#9 Bridgestone
Employees: 140K
Revenue: 35B$
Website: https://www.bridgestone.com/
Description: Bridgestone is a leading company in the Automotive Aftermarket industry. Headquartered in Tokyo, Japan, Bridgestone operates in the Asia continent. The company was founded in 1931 and currently has approximately 140,000 employees worldwide. With a revenue of 35 billion dollars, Bridgestone is a major player in the automotive aftermarket sector. The company offers a wide range of automotive products and services, including tires, automotive parts, and maintenance solutions. Bridgestone's commitment to innovation and quality has made it a trusted brand among consumers and automotive professionals alike.
#8 Aisin Seiki
Employees: 120K
Revenue: 36B$
Website: https://www.aisin.com/
Description: Aisin Seiki is a Japanese automotive components company operating in the Automotive Aftermarket industry. Headquartered in Kariya, Japan, the company was founded in 1949. With approximately 120,000 employees, Aisin Seiki is a major player in the industry. The company generates an annual revenue of 36 billion US dollars. Aisin Seiki is involved in the development, manufacture, and sales of automotive parts and systems including drivetrain, body, brake & chassis, engine, and information-related products. With a strong focus on innovation and quality, Aisin Seiki continues to be a leading supplier of automotive aftermarket components worldwide.
#7 ZF Friedrichshafen
Employees: 160K
Revenue: 37.2B$
Website: https://www.zf.com
Description: ZF Friedrichshafen is a leading company in the Automotive Aftermarket industry. Headquartered in Friedrichshafen, Germany, the company has a rich history dating back to its founding in 1915. With a workforce of approximately 160,000 employees, ZF Friedrichshafen operates globally, providing a wide range of automotive aftermarket products, solutions, and services. The company's revenue stands at an impressive 37.2 billion US dollars. ZF Friedrichshafen is known for its innovation and expertise in areas such as driveline and chassis technology, as well as active and passive safety technology. Through its comprehensive offerings, ZF Friedrichshafen plays a vital role in supporting the automotive industry by supplying high-quality aftermarket components and systems to vehicle manufacturers, repair shops, and end consumers worldwide.
#6 Magna International
Employees: 168K
Revenue: 39.4B$
Website: https://www.magna.com/
Description: Magna International, headquartered in Aurora, Canada, is a leading global automotive supplier operating in the Automotive Aftermarket industry. Founded in 1957, the company has grown to employ approximately 168,000 employees worldwide. With a revenue of 39.4 billion dollars, Magna International offers a wide range of products and services in the automotive aftermarket sector. They specialize in supplying innovative technologies and systems to automotive manufacturers, providing solutions in areas such as powertrain, chassis, exteriors, seating, and electronics. With a strong focus on research and development, Magna International is committed to delivering high-quality products and driving innovation in the automotive industry.
#5 Mitsubishi Electric
Employees: 150K
Revenue: 40B$
Website: https://www.mitsubishielectric.com
Description: Mitsubishi Electric, headquartered in Tokyo, Japan, is a leading player in the Automotive Aftermarket industry. With a rich history dating back to 1921, the company has established itself as a trusted provider of high-quality automotive components and solutions. Employing approximately 150,000 people worldwide, Mitsubishi Electric generates an impressive revenue of 40 billion dollars. The company's dedication to innovation and cutting-edge technology has enabled it to offer a wide range of automotive aftermarket products, including electrical and electronic systems, air conditioning systems, powertrain components, and much more. Mitsubishi Electric's commitment to excellence and customer satisfaction has solidified its position as a key player in the automotive industry.
#4 Thyssenkrupp
Employees: 160K
Revenue: 42.6B$
Website: https://www.thyssenkrupp.com
Description: Thyssenkrupp, headquartered in Essen, Germany, is a global leader in the Automotive Aftermarket industry. With a history dating back to 1999, the company has established itself as a major player in the automotive sector. Thyssenkrupp operates a wide range of activities within the industry, including manufacturing and supplying automotive components, systems, and solutions. The company's extensive portfolio covers areas such as chassis technology, body systems, powertrain components, and more. With a workforce of approximately 160,000 employees, Thyssenkrupp continues to drive innovation and provide high-quality products and services to the automotive aftermarket. In 2020, the company reported a revenue of 42.6 billion US dollars, solidifying its position as a key player in the industry.
#3 Continental
Employees: 244K
Revenue: 44.5B$
Website: https://www.continental.com
Description: Continental, a leading automotive technology company, operates in the Automotive Aftermarket industry. Headquartered in Hanover, Germany, Continental has a rich history dating back to its founding in 1871. With a workforce of approximately 244,000 employees, the company is a major player in the industry. Continental generates impressive revenue, amounting to 44.5 billion USD. The company's activities in the Automotive Aftermarket focus on providing innovative solutions for vehicle owners and service providers. They offer a wide range of products including tires, brake systems, powertrain components, and vehicle electronics. Through their advanced technology and expertise, Continental aims to enhance safety, efficiency, and sustainability in the automotive industry.
#2 Denso
Employees: 170K
Revenue: 48.1B$
Website: https://www.denso.com
Description: Denso is a leading automotive aftermarket company based in Kariya, Japan. With its headquarters in Asia, the company has established a strong presence in the global automotive industry. Founded in 1949, Denso has grown to become a key player in the aftermarket sector, offering a wide range of automotive parts and systems. With a workforce of approximately 170,000 employees, Denso is dedicated to providing innovative solutions and high-quality products to meet the evolving needs of the automotive aftermarket. The company's revenue stands at an impressive 48.1 billion dollars, reflecting its strong position in the market.
#1 Bosch
Employees: 400K
Revenue: 50B$
Website: https://www.boschaftermarket.com/
Description: Bosch, headquartered in Stuttgart, Germany, is a prominent player in the Automotive Aftermarket industry. Founded in 1886, the company operates globally and employs approximately 400,000 people. With a revenue of 50 billion dollars, Bosch offers a wide range of automotive aftermarket products and services. They provide innovative solutions for vehicle maintenance, repair, and diagnostics, catering to both professional workshops and do-it-yourself enthusiasts. Bosch's offerings include automotive parts, diagnostic equipment, workshop tools, software solutions, and technical training. Their expertise in automotive technology and commitment to quality makes them a trusted partner for customers in the automotive aftermarket sector.
Summary
The automotive aftermarket industry is thriving, with several top companies leading the way. In terms of revenue and market share, the top players in the sub-industry of Automotive Aftermarket include Company A, Company B, and Company C. These companies have achieved significant accomplishments in terms of sales growth and customer satisfaction.
One unexpected finding is the rapid growth of Company B, which has quickly risen to become one of the top players in the industry. Despite being a relatively new entrant, Company B has been able to capture a significant market share by offering innovative products and exceptional customer service.
Company A, a long-standing leader in the automotive aftermarket, has consistently ranked among the top companies in the industry. They have established a strong reputation for their wide range of high-quality products and reliable customer support. Company B, on the other hand, is a newcomer that has disrupted the market with its cutting-edge technology and unique product offerings. Company C is another prominent player known for its focus on sustainability and eco-friendly solutions.
One common element driving the prosperity of these leading firms is their commitment to research and development. They invest heavily in developing new products and improving existing ones to meet the evolving needs of customers. Moreover, these companies have robust distribution networks, ensuring their products reach customers efficiently.
What sets these eminent companies apart from their rivals is their ability to adapt to changing market trends and customer preferences. They constantly analyze market data and customer feedback to identify emerging opportunities and tailor their products accordingly. Additionally, these companies prioritize customer experience by providing excellent pre- and post-sales support, which helps build strong brand loyalty.