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An aftermarket is a market for products and services to upgrade, customize, repair and maintain a durable item such as a vehicle or mobile device. Aftermarket products are complementary with the original durable product and support its use. In some cases, an aftermarket generates more revenue than the original product itself. The following are the common types of aftermarket.
PartsParts for repair, upgrade and maintenance. For example, an industrial machine that requires that certain parts be replaced according to a maintenance schedule.ComponentsComponents for repair, upgrade and customization. For example, a navigation system in an automobile that can be upgraded.SoftwareSoftware such as apps for a mobile device.Consumables that they need to be regularly purchased such as ink for a printer.
ComfortComfort related upgrades such as interior furnishings for a sailboat.Convenience items such as an autopilot for a sailboat.PerformancePerformance upgrades such as modifications that make an automobile faster.SafetySafety equipment such as a life ring for a sailboat.StyleProducts that change the appearance of the original equipment. For example, custom styling for automobiles is a major industry.
SecuritySecurity such as an alarm system.FunctionsTools to extend or modify the functionality of the original equipment. For example, snow chains that allow a vehicle to drive up an icy slope.FeaturesProducts and services that extend or modify the features of the original equipment. For example, upgraded headlights for a vehicle.NotesAftermarket products are often sold by both the original equipment manufacturer and independent sellers.The original equipment manufacturer may view competition in the aftermarket as a positive as it extends their product ecosystem. For example, a mobile device may have thousands of popular accessories that add to the overall customer experience.The original equipment manufacturer may offer a certification program for aftermarket products to improve quality. Such programs are typically revenue generating and involve fees.The original equipment manufacturer may attempt to prevent competition in the aftermarket. This may be viewed as anti-competitive behavior in some circumstances as the goal is often to control the market to charge high prices.|
| Type | | | Definition | A market for products to upgrade, customize, repair and maintain a durable product such as a vehicle or mobile device. | | Related Concepts | |
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