Top 10 Aftermarket Automotive Parts Manufacturers in 2024

When your car makes unusual noises, stalls, or components become unresponsive, it’s likely that parts need to be replaced. But with a wide range of auto parts suppliers on the market, how do you make a wise choice? High-quality aftermarket parts manufacturers can not only ensure that the vehicle’s performance is restored to its original state, but also save you repair costs and time. The key is to examine the supplier’s product quality certification system, the degree of matching with original accessories, supply stability, and after-sales service guarantees. Whether it’s an individual car owner, a repair shop, or a parts dealer, choosing a regular supplier with strong technical strength and strict quality control can keep your car in the best condition and avoid secondary repairs caused by inferior parts.

Automotive Aftermarket Industry Size, Growth, and Trends

In recent years, the global automotive aftermarket has continued to expand, driven mainly by three core factors: the increasing aging of vehicles, strong demand for intelligent technology upgrades, and the rise of personalized modification culture. The following are key industry data verified by multiple parties (as of July 2024):

​​Market size​​

Global valuation in 2024: US$408.5 billion (S&P Global authoritative data)
2028 forecast: US$529.8 billion (CAGR 4.3%, McKinsey model verification)

Vehicle aging

The average age of vehicles in the United States hit a new high: 12.2 years (an increase of 0.4 years from 2023)

Industry impact: Maintenance expenses for vehicles over 10 years old increased by 23%

E-commerce penetration

Online transaction volume in 2024: US$57 billion (including professional platforms and comprehensive e-commerce)

Growth momentum: The online purchasing rate of new energy vehicle owners is 37% higher than that of traditional vehicle owners

Electrification transformation

EV aftermarket forecast in 2030: US$50 billion

Key areas: Demand for battery testing equipment increased by 81% annually

Regional pattern

Asia-Pacific leads the world in growth (accounting for more than 60% of the new market)

China’s market contribution rate exceeds 35% (driven by urbanization rate and ownership)

Industry prediction:

Traditional maintenance companies need to accelerate the layout of electrification diagnostic capabilities

Competition between OEMs and third-party parts suppliers will be fierce

Battery recycling/Internet of Vehicles services become new profit growth points

Top 10 Aftermarket Automotive Parts Manufacturers in 2024:

In this ranking, the top ten global automotive parts suppliers in 2024 are the same as last year, but the rankings of individual companies have changed slightly.

Supplier	Country	Ranking	2024 Turnover (Euro)	Increase
Bosch	DE	1	55.89B	-0.007
Denso	JP	2	42.5.2B	-0.07
Continental	DE	3	39.71B	-0.041
Magna	CA	4	39.57B	0
Hyundai Mobis	KR	5	38.79B	-0.075
ZF Friedrichshafen	DE	6	38.09B	-0.112
CATL	CN	7	32.49B	-0.127
Aisin	JP	8	28.44B	-0.096
Michelin	FR	9	27.19B	-0.041
Forvia	FR	10	26.97B	-0.01

#1 Robert Bosch

Bosch ranked first, with sales of 55.8 billion euros in its automotive business, a slight decrease of 0.7%, and a profit margin of 3.7%, which was under pressure. This shows that even market leaders are feeling the pressure of the market.
#2 DENSO

Sales volume was 42.5 billion euros. It is worth mentioning that although Denso’s sales volume fell by 7%, its profit margin increased to 7.7%, indicating that its product structure has been optimized or cost control is very effective.
#3 Continental

With operating income of 39.7 billion euros, the ranking rose by 2 places, and the profit margin improved to 5.8%. By the way, the German giant announced in April 2025 that its automotive sub-group would be independent as AUMOVIO, and its listing plan is scheduled to take place in September. In addition, Continental also announced in June 2025 that it would sell its ContiTech sub-group, and the specific matters will be carried out in 2026.
#4 Magna

Sales were 39.6 billion euros, basically the same as in 2023, business was stable, and the ranking rose by 2 places.
#5 Hyundai Mobis

The ranking dropped by one place and sales fell by 7.5%, which may be related to the decline in sales of Korean cars in the global market.
#6 ZF

Ranking down three places from the previous year and with a profit margin of just 0.5%, the German supplier is facing huge challenges and is going through a difficult period.
#7 CATL

Its power battery revenue dropped by 12.7%, but it still retained the 7th place. In fact, CATL’s power battery sales volume increased, and the decline in turnover was due to the decline in the price of raw materials such as lithium carbonate. The price of its power battery products was adjusted accordingly, resulting in a decline in turnover.
#8 Aisin

Aisin founded in 1940 years. Headquarters located in Kariya City, Aichi, Japan. Turnover in 2024 is 28.44Billion Euros.

#9 Michelin

Michelin founded in 1900 years. Headquarter located in French. Turnover in 2024 is 27.19 Billion. 

#10 Forvia

Forvia founded in 1997 years . Headquarters located in Nanterre, France. Main produts are Seating systems, interiors, clean mobility solutions, and electronics.

Turnover in 2024 years is 26.97 Billion Euros.

Look for Aftermarket Automotive Parts Manufacturers?

After the epidemic, the global automobile market has recovered slowly. The main challenges currently faced include overcapacity, weak market demand, supply chain and many other complex issues. In adversity, no matter how large the business volume is, profit margin is the most critical indicator of survival and development.Switch City Corp builded the good relationship with some of the above suppliers. 

Conclusion:

Data shows that the automotive industry is still in the process of transformation – while some traditional suppliers are shrinking their businesses, emerging technology companies are aggressively seizing new markets; the electric vehicle sector is booming, but battery manufacturers have entered a period of integration after experiencing a market boom, and semiconductor companies continue to maintain their profit advantages at the high end of the value chain.

The performance of German suppliers is mixed. Schaeffler’s mergers and acquisitions have significantly increased its business and obtained a more complete and highly complementary product portfolio; while ZF is almost unprofitable and plans to sell part of its business, but the cold capital market has slowed down its sales plan; Continental’s overall business has stabilized, but after major moves such as splitting the automotive sub-group and selling the ContiTech sub-group in the future, the group’s scale advantage is no longer there, and next year’s list will also undergo more changes.

Competition in the Asian market is becoming increasingly fierce: China has shown an unstoppable leading edge in the new energy vehicle market and has made breakthroughs in many technical fields, which will give it more development opportunities.Korean battery experts are experiencing severe tests, and the pattern of China, Japan and South Korea in the global power battery field may be rewritten. We will wait and see.

Opportunities and challenges coexist, and the industry reshuffle is intensifying, which will determine the new industry pattern in the next few years. Looking ahead, we believe that the innovation and leadership of technology will be more important than the traditional scale advantage. Scale can hardly hide its ugliness in the test of profit margin. Slimming down or transformation is imperative. Product structure and continuous innovation for the future market are likely to bring new growth and development space.