Welcome!

News Feed Item

Frost & Sullivan: ASEAN 3 Automotive Aftermarket Positioned for High Growth Due to Boom in the Vehicle Market

HONG KONG and KUALA LUMPUR, Malaysia, April 8, 2014 /PRNewswire/ -- The automotive aftermarket sector in the 3 largest ASEAN markets - Indonesia, Thailand and Malaysia - is positioned for high growth as millions of new vehicles enter the market, predicts Frost & Sullivan.

New analysis from Frost & Sullivan (http://www.automotive.frost.com) Strategic Analysis of ASEAN Automotive Aftermarket finds that the aftermarket parts market is expected to grow at a compound annual growth rate (CAGR) of 12.9 per cent (2010-2018).

Ms. Silka Yosa, Consulting Analyst, Automotive Practice, Asia Pacific at Frost & Sullivan predicts wiper blades to be one of the fastest growing segments in the automotive aftermarket sector due to the short life-span of the product. She said that wiper blades' replacement in ASEAN 3 could grow at a compound annual growth rate (CAGR) of 15.2 per cent to reach US$243.5 million in 2018.

"The growth rates for products such as wipers, clutches, compressors, filters and brakes are expected to be high, in the region of 13 per cent annually for the next 5-7 years, due to the boom in ASEAN vehicle sales," she added.

However, components such as starters, alternators, radiators and fans are expected to have a lower growth rate as their sales only peak when the vehicle reaches 8-12 years old, she said.

Ms. Yosa also said that it is common for vehicle owners to return to their respective authorized service centers for servicing and maintenance procedures due to warranty obligations in the first few years of ownership.

"However, when a vehicle has exceeded its factory warranty period, most people take it to an unauthorized service workshop for routine maintenance because of the workshop's lower pricing and usually better proximity," Ms. Yosa said.

She also said that performance chemicals such as fuel or oil treatment additives are used to restore engine performance, provide cleaner injectors, improve fuel efficiency, and overall engine protection.

However, ASEAN vehicle owners are generally skeptical about using such products unless they are endorsed or recommended by OEMs or service centers, Ms. Yosa said.

She added that most vehicle owners rely on recommendations by dealers and/or service centers for replacement of vehicle parts/components.

"Vehicles under manufacturer warranty are bound by replacement of only original, approved parts. Consumers not bound by warranties generally opt for aftermarket parts due to pricing, but still consider factors such as brand, quality, and warranty when making a choice," she added.

She also said that remanufacturers are successfully penetrating the ASEAN aftermarket, with recycled auto parts such as starters and alternators. "Sales of vehicle accessories such as in-dash navigation, electronics, and high-performance upgrades show strong growth among young driving population," she added.

If you are interested in more information on Frost & Sullivan's Strategic Analysis of ASEAN Automotive Aftermarket (P786-18) research, please send an email to Alice Chia, Corporate Communications – Asia Pacific, at [email protected], with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

Strategic Analysis of ASEAN Automotive Aftermarket
P786-18

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.  
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible.  This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.  

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion
Join Us: Join our community
Subscribe: Newsletter on "the next big thing"
Register: Gain access to visionary innovation

Media Contact:

Alice Chia
Corporate Communications – Asia Pacific
Email: [email protected]



More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Ovum, a leading technology analyst firm, has published an in-depth report, Ovum Decision Matrix: Selecting a DevOps Release Management Solution, 2016–17. The report focuses on the automation aspects of DevOps, Release Management and compares solutions from the leading vendors.