Global Motor Vehicle Parts Market Huge Growth, Latest Trends And Demand - Forecasts By 2023
The global motor vehicle parts market is expected to decline from $2784.1 billion in 2019 to $2742.8 billion in 2020 at a compound annual growth rate (CAGR) of -1.5%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 9% from 2021 and reach $3462.2 billion in 2023.
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The motor vehicle parts market consists of sales of motor vehicle parts by entities (organizations, sole traders and partnerships) that produce motor vehicle gasoline engines and engine parts, motor vehicle electrical and electronic equipment, motor vehicle steering and suspension components (except springs), motor vehicle brake systems, motor vehicle transmission and power train parts, motor vehicle seating and interior trim, motor vehicle metal stampings, and other motor vehicle parts and accessories. This market includes sales of rebuilt motor vehicle parts. This market includes sales of both new and used vehicles..
Motor vehicle parts manufacturers are producing engines that offer higher fuel economy and better performance. Efficient combustion engines increase the fuel economy of motor vehicles and also enable motor vehicle manufacturers to meet emission norms of several state and national governments across the world.
Motor Vehicle Parts Market Segmentation: -
1. Motor Vehicle Body, Metal Stamping & Other Parts
2. Motor Vehicle Engine, Power Train & Parts
3. Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors
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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Motor Vehicle Parts Market Characteristics
4. Motor Vehicle Parts Market Product Analysis
5. Motor Vehicle Parts Market Supply Chain
20. Motor Vehicle Parts Market Competitive Landscape
21. Key Mergers And Acquisitions In The Motor Vehicle Parts Market
22. Market Background: Transportation Market
The report covers the trends and market dynamics of the motor vehicle parts market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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Some of the key players involved in the motor vehicle parts market are Robert Bosch; Denso Corporation; Magna International Inc; Aisin Group; Continental Automotive Systems Corporation
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