The Motor Vehicle And Parts Dealers Global Market Report 2023 by The Business Research Company, provides motor vehicle and parts dealers market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Motor Vehicle And Parts Dealers Global Market Report 2023, the global motor vehicle and parts dealers market size will grow from $4,562.94 billion in 2022 to $4,929.73 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of motor vehicle and parts dealers is expected to grow to $6,467.01 billion in 2027 at a CAGR of 7.0%.
Motor vehicle and parts dealers are adopting a robust and cohesive strategy for data analytics in management. This technology is being deployed to enhance supply chain efficiency, streamline operations to engage customers, and build loyalty. Data has become critical for most retail operations. 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. This is expected to drive the market going forward.
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The motor vehicle and parts dealers market is segmented:
1) By Type: Auto Parts And Accessories, Automobile Dealers, Other Motor Vehicle Dealers
2) By Ownership: Retail Chain, Independent Retailer
3) By Type of Store: Exclusive Retailers/Showroom, Inclusive Retailers/Dealer Store
Motor vehicle dealers are increasingly offering unique experiences and features to meet customer expectations. Experiential retail refers to a store that offers consumers a chance to buy an experience rather than just an object or service. This trend is driven largely by millennials 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. For instance, car brand Audi has integrated a virtual reality (VR) experience in their showrooms to attract potential customers. The company designed the VR experience to present its vehicles to potential customers in a more personalized and engaging manner while solving the issue of smaller dealerships being unable to stock more than five cars.
The motor vehicle and parts dealers market report table of contents includes:
1. Executive Summary
2. Motor Vehicle And Parts Dealers Characteristics
3. Motor Vehicle And Parts Dealers Trends And Strategies
4. Motor Vehicle And Parts Dealers – Macro Economic Scenario
5. Motor Vehicle And Parts Dealers Size And Growth
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27. Motor Vehicle And Parts Dealers Competitive Landscape And Company Profiles
28. Microbiome Pipeline Analysis
29. Key Mergers And Acquisitions In The Motor Vehicle And Parts Dealers
30. Motor Vehicle And Parts Dealers Future Outlook and Potential Analysis
31. Appendix
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