The safety and operational reliability of a car/motor vehicle hinge on the quality and durability of its components. This raises the importance of aftermarket cars spare parts which in general can be divided into three categories:
1) Replacement parts that are unlikely to require replacement except in the case of damage to the vehicle caused by an accident (e.g. side mirrors, bumpers, hoods & doors). Demand for such parts is likely to remain relatively stable.
2) Depreciating parts, which must be replaced due to the cars daily usage, as they are essential to operation of the vehicle (e.g. spark plugs, brake pads, filters & shock absorbers). The market volume of these parts is expected to fall as their life expectancy increases due to improvements in research and development.
3) Parts whose replacement is not critical to the functioning of the vehicle (e.g. horns, wheel covers & wiper blades). The main factor affecting the size of the market is the ability to convince consumers to incur expenses to replace these parts.