Home » Europe, Manufacturing & Industry, Marketing & Sales, Retail, Services » European Service Parts Market will Continue to Devolop Gradually Over the Period 2011-2019 by Radiant Insights
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Summary
The passenger car engine oil market will continue to evolve over the next four years to 2019. Emissions regulations, manufacturers’ desire for improved durability and motorists’ pursuit of greater fuel economy will continue to drive demand for higher value engine oils, which use higher quality base oils, include innovative new additive ingredients and which offer lower levels of viscosity. As a result, the lubricant is becoming an increasingly important component within the engine. Working closely with oil and additive companies is essential because the interaction between the oil and the components can make the difference between an optimized system and one that is functioning poorly.

Emissions regulations also shape the market demand for components like spark and glow plugs. Smaller capacity engines are now commonplace in the vehicle parc, with the result that spark and glow plug designs are changing. Downsized engines and more strict packaging requirements are driving the need for a thinner, longer glow plug, and there is also considerable RandD investment in developing new conductive materials, including ceramics, to ensure that the operation of the next generation plug is optimized.

The market for service parts including vehicle filters is also being affected by changing technologies, with newer vehicles often featuring in-built filters, whilst the number of older vehicles in the parc is suppressing demand. The major drivers of growth for the filters market is the increase in the production of vehicles, the increasing focus of vehicle owners on preventative maintenance, the increasing average age of vehicles in operation and the increasing number of miles driven per vehicle. In this market, oil filter, air filter, fuel filter and cabin air filters are some of the major segments of automotive filters. The fuel filter and cabin air filter segments are expected to show above average growth during the forecast period. Within the global automotive filter market, the oil filter segment is expected to remain as the largest market. Rising vehicle production and increasing demand from original equipment manufacturers (OEMs) and the aftermarket is expected to spur growth for this segment over the forecast period.

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Key Findings
– Intense industry-wide interest in the improvement of fuel economy has driven significant change to vehicles and lubricants Following the European financial crisis, the average mileage driven by motorists across Europe fell, resulting in service intervals becoming longer and motor oil being replaced less often. In many instances, motorists deferred the replacement of their motor oil in a bid to save money, and with many oils also offering extended drain intervals, sales volumes declined. However, the European economy is now growing, and, as a result, people are again buying new vehicles and are beginning to drive more. Oil volumes grew 3% between 2011 and 2015 as a result, and the expected future growth of the European vehicle parc to 2019 will help oil volumes to continue to grow over the next four years.

– Spark and glow plugs are having to work harder for longer Engine downsizing and the increased uptake of forced induction in both diesel and petrol engines is resulting in higher specific outputs which places increased pressure on each engine component. Combined with the trend for extended service intervals, components are now having to work harder for longer. To combat this, precious metals are being introduced to spark plugs to ensure heightened durability, and in some cases, manufacturers are suggesting a contraction of spark plug service times to biennial inspection rather than annual inspection. This is just one of the reasons why the European spark plug market saw volumes fall by 7% between 2011 and 2015, although volumes are expected to grow by 1% between 2016 and 2019.

– New vehicles, an increasing focus on preventative maintenance, and an aging parc drive growth in the filters market The European filters market is seeing rapid change as filter technologies continue to evolve. Petrol-powered vehicles are seeing a growing trend for filters to be in-built – this is particularly the case in new petrol-powered cars. The European new car market is growing, driving growth in the filters market. The value of the filters market is also influenced by technology and the emergence of more advanced products in the market. Evolving engine designs need high levels of oil and fuel cleanliness. As engine technologies across the world become more and more sophisticated, providing clean oil and fuel to these complex engines has become critical, making oil and fuel filters integral parts of modern automobiles.

Synopsis
“The European Service Parts Market 2011-2019”, a Trend Report by Verdict Retail, provides an executive-level overview of the European vehicle service parts market today, with forecasts of values and volumes up to 2019. It delivers deep quantitative and qualitative insight into the European service parts market, analyzing key trends in the market based on proprietary data from Verdict Retail’s aftermarket databases.

Related Report by Radiant Insights:
The European Mechanical Parts Market, 2011-2019; Market size, market forecast and recommendations –
http://www.radiantinsights.com/research/the-european-mechanical-parts-market-2011-2019

The European Steering and Suspension Parts Market 2011 – 2019; Market size, market forecast and recommendations –
http://www.radiantinsights.com/research/the-european-steering-and-suspension-parts-market-2011-2019

It provides in-depth analysis of the following:
– Market size and forecast; a look at the total market size and forecast size for service parts in Europe, with an overview regional analysis.

– Market value and forecast; a look at the total market value and forecast value for service parts in Europe, with an overview regional analysis.

– Summary of main influences; an overview on the factors driving the evolution of the European service parts market.

Reasons To Buy
– This Trend Report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the European service parts market based on insights from within Verdict’s proprietary aftermarket database, consumer insight from our bespoke annual survey and interviews with industry experts.

– The report is designed for an executive-level audience, boasting presentation quality that allows it to be turned into presentable material immediately.

– The broad but detailed perspective will help manufacturers and retailers to understand and succeed in the challenging service parts market.

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