What does aftermarket mean?
The aftermarket is the market for goods and services connected to a product after its initial sale — most famously replacement parts, accessories, repairs, and upgrades for automobiles and other machinery. When a car leaves the showroom, everything that happens to it afterward, from new tires to a custom sound system to routine servicing, belongs to the aftermarket. The term is also applied more broadly to any secondary economic activity following a primary sale, including financial markets where previously issued securities are traded. Used chiefly in business and technical contexts, 'aftermarket' often appears as a modifier, as in 'aftermarket parts' or 'aftermarket accessories'. While aftermarket goods are frequently cheaper than original manufacturer items, quality can vary widely, so the word carries neutral-to-cautious connotations depending on context. For manufacturers, the aftermarket is often a major profit center, sometimes more lucrative than the original sale itself.
nounThe secondary market in goods and services relating to a product after its original sale, especially parts, accessories, and repairs for vehicles or equipment; also, the market for such goods themselves.
- The market for parts, accessories, repair services, and upgrades purchased after the original sale of a product (especially vehicles and machinery).
- By extension, any secondary market activity that follows the initial sale of a good.
"He saved money by buying brake pads from the aftermarket rather than the dealership."
"After the warranty expired, she switched to an independent shop that used quality aftermarket components."
"The company profits less from selling cars than from the lucrative aftermarket in servicing and accessories."
Rarely pluralized; the singular usually suffices even when referring to multiple industries, though 'aftermarkets' appears in business writing about several sectors.
"The firm serves aftermarkets across the aviation, marine, and automotive sectors."
The global automotive aftermarket is worth hundreds of billions of dollars a year — your car's second life is big business.
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Etymology of aftermarket
The word 'aftermarket' is a straightforward English compound formed from 'after' (Old English 'æfter', meaning behind or subsequent) and 'market' (from Latin 'mercatus', via Old French 'marchiet'). It arose in twentieth-century American commercial usage, particularly within the automobile industry, to describe the trade in parts and services following a vehicle's sale. Its cognates include the many English words derived from Latin 'merx' (goods), such as 'merchant' and 'commerce'.
How aftermarket is actually used
Used almost exclusively in commercial, industrial, and consumer-goods contexts. The term carries no strong connotation — aftermarket parts can be cheaper alternatives to original equipment, though some consumers associate them with variable quality. Commonly used attributively as a modifier ('aftermarket parts', 'aftermarket stereo').
Easily confused with aftermarket
The gray market refers to the trade of genuine goods through unofficial channels, whereas the aftermarket refers to products and services sold after the original purchase of an item.