The introduction of emission standards across the Asia-Pacific (APAC) region is driving demand for aftermarket consumables.
According to GlobalData, the APAC automotive aftermarket consumables market is forecast to record a compound annual growth rate (CAGR) of 2.1 per cent over 2023-28.
By accelerating the need for timely replacement of service parts to ensure compliance with environmental standards, these regulatory measures are positively influencing the aftermarket consumables market.
GlobalData’s latest report, “Global Sector Overview & Forecast: Aftermarket Consumables Q3 2024” reveals that the automotive aftermarket consumables market, including service parts and consumables, was at 5.3 billion units in 2023. It is forecast to reach 5.9 billion units by 2028 in the APAC region.
GlobalData automotive analyst, Madhuchhanda Palit outlined how stringent emission standards and strict compliance regulations across APAC countries are key drivers of the aftermarket consumables market.
“While consumers may delay replacements, the need to obtain pollution certificates—such as the Pollution Under Control Certificate (PUC) in India and China Compulsory Certification (CCC)—compels timely replacement of parts like engine oil, filters, and diesel components,” Palit says.
“Failing to replace these parts can lead to engine malfunctions, increased emissions, and pollutants like black carbon (soot), carbon monoxide, CO2, and volatile organic compounds, contributing to air pollution.”
Factors such as increasing population, industrial developments, and high traffic affect the air quality of a particular area, and in turn, contribute to a reduction in the lifespan of service parts, and early replacement.
“Polluted air quality impacts the aftermarket consumables market positively; the more hazardous the air quality index is of a city, the more service part replacements might be required, leading to growth in the aftermarket consumables market volume,” Palit says.