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Automotive Parts Market worth $729.64 billion by 2030, growing at a CAGR of 4.99% - Exclusive Report by 360iResearch
Automotive Parts Market | 360iResearch
The Global Automotive Parts Market to grow from USD 494.03 billion in 2022 to USD 729.64 billion by 2030, at a CAGR of 4.99%.
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Automotive parts are crucial components and units that contribute to the proper functioning and operation of various motor vehicles, including passenger cars, trucks, and motorcycles. These parts play a vital role in ensuring vehicles' smooth performance and reliability. Automotive parts can be broadly categorized into various groups based on their function and location within the vehicle. Increasing vehicle production, technological advancements in automotive systems fostering greater integration, and rising demand for fuel-efficient vehicles are anticipated to drive the market demand. However, economic fluctuations affecting consumer spending on automobiles, availability of counterfeit products, and fluctuating prices of raw materials costs hamper the demand for automotive parts. Additionally, emerging trends such as electric vehicles (EVs), autonomous driving systems, connected cars, and ride-sharing services present significant opportunities for business expansion in the automotive parts sector.
The Americas have a significant landscape in the automotive parts market owing to customer purchasing behavior shifting towards more sustainable options due to increased environmental awareness. Rising automakers focus on producing lightweight components using high-strength materials to enhance fuel efficiency. Surging investment commitment towards electric vehicle development and further regional trade agreements facilitated cross-border collaboration among regional auto part manufacturers, contributing to the region's market growth. The EU automotive parts sector has been mainly driven by stringent regulations on CO2 emissions and an accelerating demand for electric vehicles. European manufacturers invested heavily in R&D activities with a focus on sustainable technologies. The Middle East and Africa automotive parts market is expected to grow, driven by rising vehicle ownership rates, expanding urbanization, and rising disposable incomes. APAC has witnessed significant demand for automotive parts due to having a significant automotive manufacturing hub, availability of raw materials, and several government initiatives promoting electric vehicles.
Market Segmentation & Coverage:
This research report categorizes the Automotive Parts Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Bodies & Chassis, Driveline & Powertrain, Electronics, Interiors & Exteriors, and Wheel & Tires. The Bodies & Chassis is further studied across Body Panels, Body-in-white, Chassis Frame, Steering Systems, and Suspension Systems. The Driveline & Powertrain is further studied across Engines and Transmission Systems. The Electronics is further studied across Driver Assistance Systems, Engine Control Units, Infotainment Systems, and Sensors. The Interiors & Exteriors is further studied across Instruments & Controls, Lights & Signaling Devices, and Seats. The Wheel & Tires is further studied across Brake Systems, Rims, Tires, and Wheel Bearings. The Bodies & Chassis commanded largest market share of 24.00% in 2022, followed by Electronics.
Based on Vehicle Type, market is studied across Heavy Commercial Vehicles, Light Commercial Vehicles, and Passenger Cars. The Heavy Commercial Vehicles commanded largest market share of 55.69% in 2022, followed by Passenger Cars.
Based on Sales Channel, market is studied across Aftermarket and Original Equipment Manufacturer. The Original Equipment Manufacturer commanded largest market share of 69.21% in 2022, followed by Aftermarket.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across Alabama, California, Florida, Indiana, Kentucky, Michigan, New York, Ohio, Pennsylvania, South Carolina, Tennessee, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 39.23% in 2022, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Automotive Parts Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Automotive Parts Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Automotive Parts Market, highlighting leading vendors and their innovative profiles. These include Adient PLC, Aisin Corporation, Akebono Brake Industry Co., Ltd., American Axle & Manufacturing Holdings, Inc., Aptiv PLC, BENTELER International AG, BorgWarner Inc., Brembo S.p.A., Bridgestone Corporation, Continental AG, Cummins Inc., Dana Incorporated, DENSO Corporation, Dorman Products, Inc., Faurecia Group, Flex-N-Gate Corporation, Ford Motor Company, Freightliner by Daimler Truck AG, General Motors Company, HASCO Hasenclever GmbH + Co KG, Hyundai Mobis Co., Ltd., Infineon Technologies AG, Kyocera Corporation, Lear Corporation, Magna International Inc., Mahle GmbH, Marelli Holdings Co., Ltd., Michelin Group, Mitsubishi Heavy Industries, Ltd., PACCAR Inc., Panasonic Holdings Corporation, Plastic Omnium SE, Robert Bosch GmbH, Samvardhana Motherson International Limited, Schaeffler AG, STMicroelectronics International N.V., Sumitomo Electric Industries, Ltd., TE Connectivity Ltd., Tenneco Inc., Tesla, Inc., ThyssenKrupp AG, Toyoda Gosei Co., Ltd., Toyota Industries Corporation, Valeo, Visteon Corporation, Weichai Power Co., Ltd., Yazaki Corporation, and ZF Friedrichshafen AG.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Automotive Parts Market, by Type
7. Automotive Parts Market, by Vehicle Type
8. Automotive Parts Market, by Sales Channel
9. Americas Automotive Parts Market
10. Asia-Pacific Automotive Parts Market
11. Europe, Middle East & Africa Automotive Parts Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Automotive Parts Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Automotive Parts Market?
3. What is the competitive strategic window for opportunities in the Automotive Parts Market?
4. What are the technology trends and regulatory frameworks in the Automotive Parts Market?
5. What is the market share of the leading vendors in the Automotive Parts Market?
6. What modes and strategic moves are considered suitable for entering the Automotive Parts Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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