Aftermarket
Aftermarket is the secondary market in the field of capital goods (e.g. machines) and durable consumer goods (e.g. automobiles), which includes all goods and services that are required after the purchase of the originally purchased, primary goods as part of their maintenance, repair and retrofitting are delivered or performed. It is about the sale of services and parts that are directly related to the goods previously sold, e.g. B. Consumables and accessories .
Those parts that are not produced by the manufacturer of a higher quality product itself, but buys are of so-called original equipment manufacturers ( english OEM supplied). In the aftermarket business, a distinction is made between OEM parts that are supplied by the original equipment manufacturer of the original goods and those from the independent aftermarket (IAM).
meaning
In the field of high-quality capital goods, the aftermarket is becoming increasingly important. This is due to the fact that maintenance and repair contracts with long terms are often agreed here, which ensure long-term customer loyalty and a continuous flow of sales from the perspective of the provider. This means that the maintenance service provider can plan the required resources in the long term and thus has the opportunity to optimize the associated use of resources (service technicians, spare parts supply, etc.).
It can be observed that the aftermarket is often a division that generates high returns , shows particularly stable growth and can be more profitable than the division that actually handles the sale of the capital goods. It is not uncommon for an industrial manufacturer to have up to three business areas responsible for one and the same capital asset:
and the yield strength follows the same hierarchy.
Especially in the automotive sector
In addition to the vehicle manufacturers, other manufacturers also offer spare parts for use with a specific vehicle type. The overall market for these wear, repair, accessory and tuning parts is referred to as the "aftermarket".
A distinction is made between the two areas of the so-called independent aftermarket (IAM) and the tied parts market, which is often based on the term OEM for vehicle manufacturers and OES (Original Equipment Service; translated as maintenance and repair with Original parts). The abbreviation OES is also used for the suppliers in this market who produce the spare parts for sale via the vehicle manufacturer under his brand.
Since many owners in Germany visit the vehicle manufacturer's authorized workshops for vehicle inspections within the warranty period or the guarantee period , the aftermarket is usually only created here after these deadlines have expired. In other countries, spare parts from the aftermarket are also used in the first few years of a vehicle's life.
In Germany, the automotive aftermarket is generally referred to as the market that is entered after the vehicle has been sold to the end customer. The automotive aftermarket is therefore initially to be seen regardless of whether the demand is being met in the free or tied market.
The margins in the aftermarket are usually significantly better for the manufacturing suppliers than in sales to the original equipment or the vehicle manufacturer. Often, a supply to a vehicle manufacturer only becomes profitable through the subsequent aftermarket business. Nevertheless, there are blocking clauses in many areas based on patents and contractual agreements that prohibit the supplier from selling spare parts, regardless of the vehicle manufacturer.
The world's largest aftermarket trade fair is the Automechanika in Frankfurt am Main. In addition, the Automechanika is held at many other international locations.
See also
Individual evidence
- ^ Definition of aftermarket . Business dictionary; accessed on February 16, 2015.
- ↑ Automechanika Internet presence worldwide. ( Memento of the original from May 18, 2017 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved June 21, 2011.
