What Are Aftermarket Car Parts? A Beginner's Guide
Aftermarket car parts refer to any components that aren't made by the original equipment manufacturer (OEM). It's an industry that's already valued at USD$448.24 billion in 2023. (1)
While OEM (original equipment manufacturer) parts are made by the vehicle's original maker, aftermarket parts are produced and supplied by third-party companies. These aftermarket car parts are alternatives to OEM parts from the factory and competitively priced. They're often used when people are looking for replacement parts, making repairs or upgrading an existing OEM car part with a higher performing variant.
Buying car parts can be challenging as there is a huge amount of different suppliers and ensuring vehicle compatibility is paramount. Sites like Compare Parts, provides a very sophisticated search allowing owners to find aftermarket car parts from sellers all over the globe, meaning the chances of finding what you need on this platforms is pretty high. For fleet operators who also need to keep vehicles on the road and monitored efficiently, solutions such as Trackershop provide GPS fleet tracking services that complement aftermarket upgrades by improving operational oversight and safety.
With the cost of car repairs rising, aftermarket parts are an attractive alternative that offers value and performance.
The Advantages of Aftermarket Car Parts
One of the biggest benefits of aftermarket car parts is the cost. Often referred to as "cheaper aftermarket options," these car parts can save you a significant amount of money compared to higher margin OEM replacement parts.
Variety and Availability
Aftermarket auto parts stores offer a wide range of options, often providing alternatives that OEM parts may not. Additionally, aftermarket parts include performance car parts, such as upgraded suspension for better handling or components designed for higher speed and enhanced performance. The variety available is extensive, catering to various needs and preferences.
Quality Options
The misconception that only OEM parts are high-quality is just that - a misconception. Many companies produce aftermarket parts that meet or even exceed the standards of the original manufacturer. Certain brands have specialized in certain automotive components, offering enhancements in durability or performance.
Innovative Features
The automotive aftermarket is renowned for its innovation, with companies frequently integrating advanced technologies and materials into their products, offering features that OEM parts may not provide. While some OEM parts are designed as consumables to generate recurring revenue, aftermarket alternatives are often built to last the lifetime of the vehicle.
Aftermarket car parts definitely bring many benefits. But when should you buy them?
When To Consider Aftermarket Parts
Wondering when to consider aftermarket automotive parts? They're best for the following:
Replacement Needs
Need a quick fix without breaking the bank? Aftermarket replacement parts are a viable option when it comes to routine maintenance or repairs. Their performance and reliability have vastly improved over the years.
Power and Aesthetic Boost
For those looking to boost the power and appearance of their vehicles - individuals who are mostly between the ages of 18 and 44 - performance aftermarket parts can help you achieve that. If you're dreaming of installing a upgraded turbocharger or replacing your mild steel OEM exhaust with a Stainless or Titanium variant, there are aftermarket suppliers ready to assist. (2)
Customization and Style
Automobiles aren't just a means of transportation. They're personal expressions, too! Aftermarket automotive parts and accessories offer opportunities for vehicle modifications that reflect your personality and style. Unique grilles and custom alloy wheels can make your vehicle stand out.
Of course, like with any purchase, it's important to be extra careful when deciding to buy any aftermarket car part. Let's discuss the considerations you should make next.
Potential Considerations With Aftermarket Choices
While aftermarket components can be an excellent choice, there are a few things to keep in mind:
Warranty and Compatibility
While many aftermarket parts meet high standards, certain OEM warranties may not cover repairs made with third-party parts. Whilst many aftermarket parts are designed for compatibility, it's also crucial to ensure that they match your vehicle's specifications to avoid any issues down the line.
Insurance Implications
By 2024, the motor vehicle insurance market is expected to grow to USD$0.93 trillion in value globally. However, some insurance companies have stipulations regarding the use of aftermarket parts in repairs. They may insist on OEM parts in certain scenarios to maintain coverage, so checking with your provider beforehand is prudent. (3). Performance modifications need to be declared to insurance companies, otherwise there is a risk of invalidating a claim should the need arise.
Quality Assurance
As with anything, not all aftermarket parts are created equal. The aftermarket auto parts industry includes both high-quality products and lower-end options. Doing a bit of research or consulting with a trusted auto parts store can help ensure you're purchasing quality aftermarket parts.
Basically, it's all about being meticulous when buying aftermarket automotive parts.
Finding the Right Aftermarket Car Parts for Your Needs
What is it that you're seeking? Is it cost-effective replacement parts? Maybe you're interested in performance enhancers? Or perhaps you just want to make your ride uniquely yours through some customizations? Worry not as there's always something available for you in aftermarket car parts stores. Still, don't forget to do your homework to make the most suitable choices.
References:
1. "Automotive Aftermarket Industry Size, Share & Trends Report
Automotive Aftermarket Industry Size, Share & Trends Analysis Report By Replacement Part (Tire, Battery), By Distribution Channel, By Service Channel, By Certification, By Region, And Segment Forecasts, 2024 - 2030", Source: https://www.grandviewresearch.com/industry-analysis/aftermarket-automotive-parts-market
2. "Fueling Brand Love In The Performance Car Market With Gen-Z And Millennial Buyers With Empower's CEO Matt Rubel", Source: https://www.forbes.com/sites/jefffromm/2021/04/29/fueling-brand-love-in-the-performance-car-market-with-gen-z-and-millennial-buyers-with-empowers-ceo-matt-rubel/
3. "Motor Vehicle Insurance - Worldwide", Source: https://www.statista.com/outlook/fmo/insurances/non-life-insurances/motor-vehicle-insurance/worldwide
