The ongoing geopolitical crisis caused by Russia’s invasion of Ukraine has aggravated existing supply chain disruptions. However, strong demand for auto parts alongside technological developments in manufacturing processes are driving the growth of the auto parts sector in the United States.
The automotive aftermarket industry is projected to hit $855 billion by 2028, growing at a 6.4% CAGR. The strong demand for hybrid and electric vehicles amid soaring crude oil prices, and the emergence of 3D printing in the automotive aftermarket industry, are further boosting the market’s growth.
