Auto Parts Supply

Operators in the Auto Parts Stores industry have been living in the fast lane after periods of steady movement. Over the five years to 2022, the industry has experienced fairly stable, albeit slow, growth, especially between 2018 and 2020. During the period, the industry benefited from increased levels of per capita disposable income, which enabled more consumers to spend on industry services. Moreover, the average age of the vehicle fleet expanded slightly over the five years to 2022, increasing demand for repair parts from the industry. However, the industry remains in an era of long-term sluggish movement, with profit declining overall and little room for substantial revenue expansion. Revenue is estimated to grow at an annualized rate of 2.7% to reach $76.6 billion over the five years to 2022, including an increase of 4.2% in 2022.