Auto Parts Manufacturing Market Size To Reach US$ 2,523 Billion by 2028 | Exclusive Report by IMARC Group

IMARC Group has recently released a new research study titled "Auto Parts Manufacturing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The global auto parts manufacturing market size reached US$ 2,138 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2,523 Billion by 2028, exhibiting a growth rate (CAGR) of 2.8% during 2023-2028.. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Market Outlook:

Auto parts refer to the various elements of a vehicle's body that are employed in the manufacturing of an automobile. This comprises motors and engines, steering and suspension components, braking systems, trimmers, and electronics. Auto parts manufacturing is the factory production of such parts in bulk by several vehicle production companies, partnered organizations, and sole traders that manufacture motor vehicles. The auto parts manufacturing process includes supplying the accessories and parts by the producers to original equipment manufacturers (OEMs) for the complete assembly of motor vehicles.

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Market Growth Drivers and Opportunities:

The rising interest among automobile drivers to improve their vehicle performance which includes exhaust sound, speed, and appearance parameters is driving the market growth. The rising demand for vehicles and an increasing consumer preference for advanced safety and comfort features are contributing to the market growth. The rising trend toward electric and hybrid vehicles is acting as another major growth-inducing factor. Moreover, governments of various nations have stringent vehicle emission regulations for product manufacturers to manufacture environmentally sustainable and highly effective automobile products for both the domestic and international markets, which, in turn, is contributing to the market growth. Other factors, such as extensive research and development (R&D) activities and significant technological advancements, are creating a positive outlook for the market.

Auto Parts Manufacturing Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:             

Who are the key players/companies in the global Auto Parts manufacturing market?

• Aisin Corporation
• Akebono Brake Industry Co. Ltd.
• Brembo S.p.A.
• Continental AG
• DENSO Corporation
• Faurecia SE, General Motors Company
• Magna International Inc.
• Marelli Holdings Co. Ltd.
• Robert Bosch GmbH
• Schaeffler AG
• Valeo

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Auto Parts Manufacturing Market Segmentation:

The report has segmented the market into the following categories:

Breakup by Component Type:

• Battery
• Cooling System
 Compressor
 Radiator
 Pump
 Thermostat
• Underbody Components
 Brake
 Exhaust
• Engine Components
 Starter
 Pump
 Engine
 Alternator
• Automotive Filter
• Lighting Components
• Electrical Components
 Ignition Coil
 Ignition Switch
 Spark and Glow Plug
• Others

Breakup by Sales Channel:

• OEM
• Aftermarket

Breakup by Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Others

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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Website: https://www.imarcgroup.com

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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