aftermarket auto parts manufacturers | The automotive spare parts market in Russia

The automotive spare parts market in Russia



The automotive sector is experiencing significant changes globally in terms of volume, with stable values ​​in Europe and increasingly growing in the countries of Eastern Europe, in the automotive spare parts market India, in China and in Russia. This is linked not only to the sale of new cars, but also to the expansion of the so-called aftermarket, namely the after-sales realized by the professionals in the repair and distribution of spare parts. At global level, the aftermarket market is currently worth 440 billion euros and is estimated to reach 640 at 2020.

The Italian aftermarket market has a value of about 12.6 billion euros and, despite some downturns that have been recorded compared to previous years, it remains a very profitable market, even more so than that relating to the sale of new cars. According to ANFIA data, in the first half of 2016, Italian exports to European Union countries were worth € 10.61 billion and accounted for 70.3% of all component exports. In fact, every 7 seconds every country sells a car or moto-European spare parts, the first reference markets for Italian exports and in particular in the first place we find Germany followed by France and Spain. Among the countries outside the European Union, exports to Russia are growing (+ 51% and a balance of around 93 million euros) and towards Turkey (+ 36%)

Several factors lead to affirm the thesis on the steady growth of the aftermarket market in Russia, including for example the decrease in sales of new cars, especially in the last two years, following a significant drop in the purchasing power of the population. In fact, the aftermarket market in 2015 grew by 2% (960 million units, compared to 940 million in 2014) for a total value of about 20 billion euros. For 2016, the data collected so far show growth similar to that of the previous year.

According to the statistics, about 50% of the 40 million transport vehicles currently in circulation in Russia were produced before 2005. If it is laptop-globovero pc that means of this type require continuous maintenance services and spare parts, it is also It is true that vehicle owners are often very cost-conscious and therefore very often the selection criterion is based only on the price range.

The majority of car owners are therefore oriented to the cheaper option and that is why many of the products sold in Russia come from China, where labor and production costs are much lower, making the Chinese product even more competitive of local Russian manufacture products.

The opposite behavior is denoted by the owners of premium-class cars, which instead prefer to direct purchases on products of high manufacturing, regardless of costs.

The critical condition of many roads in Russia and the adverse weather conditions are the main causes of the replacement of tires, suspension components and shock absorbers, which explains the strong demand for these parts .

The Russian automotive market has a total value of around 45 million euros, of which imports are worth around 28 million euros. Russia is currently the market with the highest growth rates at the European level. As a result, the components industry offers great opportunities to sell spare parts and even more to create production lines in Russia. Despite the crisis that crosses the country, the automotive market has shown positive results in recent years and the decline in purchases of cars, both new and used, is good to hope especially for the producers of spare parts.

This article is based on a market analysis carried out by GruppoBPC International (www.gruppobpc.com) and it is possible to study this topic by downloading the entire Industry Report for free in the following link