Vietnam Automotive Aftermarket Size, Share & Trends Analysis Report By Application, By Region, And Segment Forecasts till to 2025: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Due to rapid urbanization and growth of passenger vehicle sales, Vietnam Automotive Aftermarket Service Industry is expected to grow at a CAGR of ~8.4% between 2020 and 2025: Ken Research Increased awareness on health and hygiene in the post COVID-19 scenario has acted as a catalyst for the demand of private vehicles, which contributes to the aftermarket services industry. Rapid urbanization couple with fast growing middle class section is another major growth driver in the market as it has led to higher disposable income and in turn shift in preference from two wheelers to four wheelers. Low localization rate and increased dependency on imports for components and spare parts acts as a challenge in the aftermarket industry Increasing Car Ownership and Reduction of Import Tax: Vietnamese government has proposed various regulations since FY’18 to improve the ecosystem of the automotive industry and making it to convenient for the consumers to purchase private vehicles by reducing the import tax to 0% for cars imported from ASEAN region, which brings down the price of the final product. Government initiatives to strengthen Vietnam’s road infrastructure along with the increased awareness on health and hygiene brought about by the advent of COVID-19 is expected to increase the prospect of vehicle ownership in the future. There has been a gradual surge in vehicle parcs in recent times, expanding at a CAGR of ~25.7% in between FY’15 and FY’20. Growth of car ownership in Vietnam stood at ~10.5% in FY’20, which was comparatively higher than its South East Asian counterparts. Increasing car ownership acts as catalyst for the aftermarket services industry which is expected to grow at a significant rate in coming years. Request For Sample Report:- https://www.kenresearch.com/sample-report.php?Frmdetails=NDkzMDY3 Rapid Urbanization and Fast Growing Middle Class: Rapid urbanization over the years is contributing to the growth of automotive market in Vietnam, as more and more consumers are migrating to urban cities. It is estimated that in FY’20, the urbanization rate stood at ~37.3% of its overall population compared to ~36.6% rate in FY’19. Urbanization serves as one of the growth drivers for the aftermarket service industry as consumers migrate for better payment opportunity in the cities, it allows them to have the financial means to avail private transport thereby increasing the prospect of aftermarket services. To curb excessive traffic jams in the cities, Hanoi, a major city in the Northern Region of Vietnam has proposed to ban motorcycles by 2030, thereby enhancing the opportunity of passenger vehicle sales for the country’s fast growing middle class in coming years. Enhancing Online Ecosystem: Aftermarket service companies in Vietnam has not been able to adapt to the growing significance of the online ecosystem over the years. However, the advent of COVID-19 has changed the perception of consumers towards the utilization of online space. More consumers are utilizing digital medium for buying and selling products as well as booking services through online medium. Similarly, there exist a shift in aftermarket service industry wherein consumers are preferring to book slots for their vehicle services online. Therefore, the automotive aftermarket service and spare parts companies are expanding their presence in the online space for better visibility among consumers and compete on the basis of brand integration. Servicing companies have initiated the process of online booking to enhance customer’s convenience. This also helps the servicing companies to maintain COVID protocols such as curb in overcrowding in public places as set by the Vietnamese government. Increased Awareness on Health and Hygiene: With the advent of COVID-19, consumers were witnessed to be more concerned on maintaining personal health and hygiene. Therefore they are preferring the option of private transportation rather than availing public transport system. The change in consumer’s behavior and preference is expected to act as an opportunity for the automotive aftermarket service industry in Vietnam. As more and more consumers prefer availing private transportation medium, the demand for new cars would surge in the coming years. With the surge in the vehicle parc, consumers would also require to periodically maintain their vehicle every 18 months as prescribed by the government of Vietnam, thereby the demand for aftermarket services would enhance. Therefore the future prospect of the industry looks strong wherein OEM and multi brand workshops in the market could utilize this opportunity to integrate the domain. Integration of Electric Vehicles: In order to curb the rising impact of climate change, governments all over the world have pledged to reach zero net carbon emissions by 2050. Hence, there is a greater deliberation of replacing fuel operated vehicles with electric vehicles (EVs) to minimise pollution. “National Automobile Development Strategy by 2025” adopted by the Vietnamese government aims to stimulate manufacturing and increase the volume of use of EVs in the coming years. With the integration of EVs in the market, vehicle service companies will have to update their equipment’s and train their mechanics for servicing electric cars which would require huge investment by these companies thus, impacting their business financials. Unorganized workshops will face challenge in servicing EVs as they operate on lower budget than required to cater to the demand of EV ecosystem. Lack of Technological Adoption and Dependence on Imports: Domestic automotive and aftermarket services industry has not been able to invest in core and high end technology products such as transmission system. Localized parts required for vehicle servicing and production are mostly of low technology products such as tires, mirrors, glasses, batteries and plastic products. Therefore, aftermarket services industry in Vietnam remains largely dependent on imported components and spare parts, which increases their cost of operating their business. The report titled “Vietnam Automotive Aftermarket: OEM, Multi-brand Outlet Services and the Spare Parts Market – Outlook to 2025: Driven by Rapid Urbanization and Growth of Vehicle Sales; fueled by Fast Growing Middle Class population and the growing preference for private vehicles in the post-COVID scenario” by Ken Research suggested that the automotive aftermarket service industry in Vietnam is expected to grow further in the near future, with the surge in vehicle parc due to increased awareness on health and hygiene followed by the aftermath of COVID-19, thus showcasing a change in consumer preference from availing public transport to private transportation medium. As more consumers shift from availing motorbikes which has historically been the dominant form of transportation in Vietnam to availing four wheeler vehicles, the demand for aftermarket services would increase in coming years. Rapid urbanization coupled with fast growing middle class would act as major growth drivers for the aftermarket service industry in Vietnam. The market is expected to register a positive CAGR of 8% in terms of revenue during the forecast period of FY’20-FY’25E. Key Segments Covered in Vietnam Automotive Aftermarket Service Industry:- By Type of Workshop OEM/Authorized Large Multi Brand Small/Unorganized By Type of Vehicle Serviced Sedan SUV Hatchback Compact SUV MPV By Age of Car 0-3 years 3-6 years 6-9 years 9 years & above By Region North Central South By Booking Mode Online Offline (including telephonic as well as Physical Booking) By Service Split Maintenance Car Care Accident Repair Vietnam Spare Parts Aftermarket Segmentation By Type of Spare Parts Tires Battery Shocks & Struts Oil & Lubricants Drain Plug Gasket Alternator & Starter Others Key Target Audience:- Automotive Companies OEM Vehicle Service Companies Multi Brand Vehicle Service Companies Automotive Spare Parts Companies Government Bodies Automotive Associations Time Period Captured in the Report:- Historical Period: 2015-2020 Forecast Period: 2020-2025 Automotive Aftermarket Service Companies in Vietnam:- OEM/Authorized Vehicle Service Companies Hyundai Vietnam Toyota Motors Vietnam Honda Vietnam Mitsubishi Vietnam Ford Vietnam Suzuki Vietnam Vinfast Lexus THACO Multi Brand Vehicle Service Companies Vietnam Car Care Thanh Phong Auto Vuong Phat Auto Garage Doanh Workshop Thanh Tam Auto Vu Khoi Garage Pham Vu Ngyuen Khoi Liem Gia Phat Spare Part Suppliers Denso Yazaki Sumitomo Electric Toyota Boshoku Harada Hanoi Plastics Casumina Kumho Tires Estec Pinaco Tam Hop Key Topics Covered in the Report:- Vietnam Automotive Aftermarket Service Industry Overview Value Chain Analysis of Vietnam Automotive Aftermarket Service Industry Ecosystem of Major Entities of Vietnam Automotive Aftermarket Service Industry Market Size of Vietnam Automotive Aftermarket Service Industry on the basis of Revenue and Number of Vehicles Serviced, FY’15-FY’20 Passenger Vehicle Sales in Vietnam, FY’15-FY’20 Vehicle Parc in Vietnam, FY’15-FY’20 Vietnam Automotive Aftermarket Service Industry Segmentation, FY’20 Competitive Analysis of Vietnam Automotive Aftermarket Competition in Vietnam OEM Automotive Aftermarket Service Industry Competition in Vietnam Multi Brand Automotive Aftermarket Service Industry Company Profiles of Hyundai, Toyoto Motors, Vinfast, Mitsubishi Motors, Honda, Vietnam Car Care, Thanh Phong Auto, Vuong Phat Auto, Garage Doanh Workshop and Thanh Tam Auto Pricing of Major OEM Automotive Service Companies Pricing of Major Multi Brand Automotive Service Companies Trends and Developments in Vietnam Automotive Aftermarket Service Industry Issues and Challenges in Vietnam Automotive Aftermarket Service Industry Porter 5 Forces Analysis of Vietnam’s Automotive Aftermarket Service Industry Government Regulations in Vietnam Automotive Aftermarket Service Industry Key Decision Making Parameters for Automobile Servicing: OEM and Multi Brand Vehicle Servicing Companies Technology Platforms used by OEM and Multi Brand Vehicle Service Companies Analysis of Multi Brand and OEM Workshops in Vietnam Operating Model of Multi Brand Workshops in Vietnam Operating Model of OEM Workshops in Vietnam Pain Points in the OEM and Multi Brand Aftermarket Industry Opportunities in the OEM and Multi Brand Aftermarket Industry Spare Parts Landscape in Vietnam Market Size of Spare Parts Aftermarket Industry and Classification by Different Type of Spare Parts Ecosystem by Different Type of Spare Parts and Consumables Market in Vietnam Impact of COVID in the Vietnam Automotive and Aftermarket Industry Future Market Size of Vietnam Automotive Aftermarket Service Industry on the basis of Revenue and Number of Vehicles Serviced, FY’20-FY’25E Future Outlook and Segmentations for Vietnam Automotive Aftermarket Service Industry, FY’20-FY’25E Analyst Recommendation For More Information on the research report, refer to below link:- Vietnam Automotive Aftermarket Service Market Related Reports:- Indonesia Automotive Aftermarket Service Market Outlook to 2026: Influx of new players and car variants from abroad are contributing to the growth of automotive aftermarket service industry in Indonesia Malaysia Automotive Aftermarket Service Market Outlook to 2025: Surging Used Car Sales contributing to the Growth of Automotive Aftermarket Service Industry in Malaysia Saudi Arabia Automotive & Spare Parts Logistics Market Outlook To 2025: Lifting Of Ban On Female Drivers And Growing Aftermarket For Spare Parts To Influence Market Growth Sri Lanka, Bangladesh, Nepal and Bhutan Automotive (Light Vehicle, Heavy Vehicle, Two Wheelers, Taxi, Earth Moving Equipment, Power Tiller, Medium Vehicles, Heavy Buses, Tractor, Medium Buses, Electric Vehicle) Industry Outlook to 2025 Follow Us LinkedIn | Facebook | Twitter | YouTube Contact Us: Ken Research Ankur Gupta, Head Marketing & Communications Support@kenresearch.com +91-9015378249 Tags: Analysis of Multi Brand Workshops Vietnam, Analysis of OEM Workshops Vietnam, Automotive Aftermarket Service Industry In Vietnam, Automotive Aftermarket Service Market In Vietnam, Automotive Companies In Vietnam, Automotive Spare Parts 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