Auto Parts Market: The global market is expected to grow at a CAGR of 3.8% during the forecasted period.
The auto parts market refers to the economic sector that deals with the buying and selling of components, accessories, and supplies used in the manufacturing, repair, and maintenance of automobiles. It encompasses a wide range of products, including engine parts, electrical components, brakes, tires, filters, body parts, and various accessories.
The auto parts market is driven by the demand for replacement parts due to vehicle wear and tear, accidents, and the need for regular maintenance. Factors such as vehicle age, mileage, and technological advancements also contribute to the demand for specific parts.
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• The global Auto Parts Market size was valued at USD 2168.1 billion in 2022 growing at a CAGR of 3.8% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
Evolve Business Intelligence has recently released a new market research report on the Global Auto Parts Market. The report covers a wide range of aspects, such as market size and forecast, market dynamics, analysis of competitors' market share, value and volume of the market, SWOT analysis, product benchmarking, recent developments of key players, and potential opportunities. Additionally, the market has been assessed based on four indicators in the market dynamic chapter, including Drivers, Restraints, Key Trends, and Challenges.
In terms of COVID 19 impact, the Auto Parts Market report also includes the following data points:
• COVID19 Impact on Auto Parts Market size
• End-User/Industry/Application Trend, and Preferences
• Government Policies/Regulatory Framework
• Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
• Opportunity in Auto Parts Market
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Some of the major Auto Parts Market players holding high market share include Denso Corporation, Continental AG, ZF Friedrichshafen AG and Hyundai Motor Group. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
• Robert Bosch GmbH
• Denso Corporation
• Continental AG
• ZF Friedrichshafen AG
• Hyundai Motor Group
• Aisin Corporation
• Magna International Inc.
• Valeo SA
• Lear Corporation
• YAZAKI Corporation
• Tenneco Inc.
Market Segment By Vehicle Type with focus on market share, consumption trend, and growth rate of Auto Parts Market:
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
Market Segment By Sales Channel with focus on market share, consumption trend, and growth rate of Auto Parts Market:
Market Segment By Component with focus on market share, consumption trend, and growth rate of Auto Parts Market Market:
• Cooling System
• Underbody Components
• Engine Components
• Auttomotive Filter
Market Size (2022) $ 2168.1 Billion
CAGR (2023 to 2033) 3.8%
Market Segmentation Vehicle Type, Sales Channel, Component
Country Covered US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America
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Global Auto Parts Market Geographic Coverage:
• North America
o Nordic Countries
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
• Middle East and Africa
o Saudi Arabia
o South Africa
o Rest of MEA
• Latin America
o Rest of Latin America
Reasons to Buy this Report:
• Detail analysis of the impact of market drivers, restraints, and opportunities
• Competitive Intelligence provides an understanding of the ecosystem
• Details analysis of the Total Addressable Market (TAM) of your products
• Investment Pockets and New Business Opportunities
• Demand-supply gap analysis
• Strategy Planning
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