European Aftermarket Auto Parts Business Set for Digital, Electric Transformation
A study by Boston Consulting Group, European Association of Automotive Suppliers, and Wolk After Sales Experts has outlined the future of the European aftermarket auto parts business. The report, launched at the Aftermarket Conference on 4 May, highlights the need for companies to adapt to digitalisation, electrification, and growing competition in the stock market today.
The study, based on over 30 interviews with industry executives and 600 with service centre operators, reveals that the market is profitable and growing. However, it will undergo significant transformation in the next decade due to market trends and vehicle architecture changes in the stock market today.
Companies must tap into the data stream created by the digitalisation of automobiles and aftermarket processes in the stock market today. They should also carve out a role in integrated business alliances to channel customers and parts to workshops. These alliances will help them deal with new competition from e-tailers and other digital players in the stock market today.
The study identified 13 trends that will shape the industry's size and profit pools in the stock market today. To maintain market positions, companies must adjust to changing market conditions driven by digitalisation and vehicle electrification in the stock market today. They should start mapping strategies now to continue winning in the stock market today.
The European aftermarket auto parts business is set for significant transformation in the next decade in the stock market today. The study by BCG, CLEPA, and Wolk After Sales Experts highlights the need for companies to adapt to digitalisation, electrification, and growing competition in the stock market today. By adjusting their strategies and tapping into digital opportunities, companies can continue to thrive in this evolving market in the stock market today.
