Transport Vehicle Components Market Size, Share, Growth, Trends And Report 2024-2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Transport Vehicle Components Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $1038.59 billion In 2028 At A CAGR Of 6.6%.

The transport vehicle components market size has grown strongly in recent years. It will grow from $753.75 billion in 2023 to $803.35 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to automotive design evolution, market demand for fuel efficiency, globalization of supply chains, evolving emissions regulations, materials and manufacturing innovations.

The transport vehicle components market size is expected to see strong growth in the next few years. It will grow to $1038.59 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to electrification growth, innovative lightweight materials, connected vehicle ecosystem expansion, sustainable solutions emphasis, urban mobility expansion. Major trends in the forecast period include supply chain resilience and localization, rise in urban mobility solutions, sustainability and eco-friendly solutions, safety and advanced driver-assistance systems (adas), connected vehicle ecosystem.

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Transport Vehicle Components Market Major Segments
The transport vehicle components market covered in this report is segmented -
1) By Type: Motor Vehicle Body, Stamped Metal, Motor Vehicle Engine, Power Train and Parts, Motor Vehicle Electrical and Electronic Equipment, Steering Suspension, Interiors
2) By Vehicle Type: Passenger Cars, Commercial Vehicles
3) By Component Type : Battery Packs, DC-DC Converters, Controller and Inverter, Motor, Onboard Charger
4) By Sale Channel: OEM (Original Equipment Manufacturer), Aftermarket

Key Driver - Rising Demand For Commercial Vehicles Drives Growth In The Transport Vehicle Components Market

The increasing demand for commercial vehicles is expected to propel the growth of the transport vehicle components market going forward. A commercial vehicle is permitted to be used for the transportation of goods or materials rather than people. Commercial vehicles increasingly require components for their functioning, hence, the growth of this market will result in the growth of the transport vehicle components market. For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), a France-based international trade association whose members are 39 national automotive industry trade associations, the commercial vehicle production increased from 21,787,126 in 2020 to 23,091,693 in 2021. Therefore, increasing demand for commercial vehicles is expected to grow the transport vehicle components market.

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Prominent Trend - Technological Advancements In The Transport Vehicle Components Market

Technological advancements are a key trend gaining popularity in the transport vehicle components market. Major companies operating in the market are focused on developing technologically advanced products to strengthen their position in the market. For instance, in January 2021, FCA, a UK-based automaker that designs, engineers, manufactures, and sells vehicles, along with Engie EPS and Terna, Italy-based technology players in energy storage, hydrogen, and e-mobility, launched the first phase of a vehicle-to-grid (V2G) pilot project in Turin, Italy, to test potential connections of the company's vehicles to the grid. Vehicle-to-grid technology enables owners of electric vehicles to use their batteries for additional purposes. This may include plugging in the car while it's parked and allowing the electricity provider to control how the power is controlled, or it could more practically involve powering their own home.

Transport Vehicle Components Market Players
Major companies operating in the transport vehicle components market report are Robert Bosch GmbH, Aisin Seiki Co. Ltd., Valeo SA, Continental AG, Aptiv PLC, ZF Friedrichshafen AG, Magna International Inc., Faurecia SE, Magneti Marelli SpA, Brembo S.p.A., Akebono Brake Industry Co. Ltd., Hella KGaA Hueck & Co., ACDelco, LG Chem Ltd., Tesla Inc., Hitachi Ltd., ABB Ltd., Samsung SDI Co. Ltd., BYD Company Limited, Contemporary Ampere*x Technology Co. Limited, Panasonic Corporation, Exor S.p.A., Denso Corporation, Harman International Industries, Alps Alpine Co. Ltd., Toyota Industries Corporation, KION Group AG, Mitsubishi Logisnext Co. Ltd., Jungheinrich AG, Crown Equipment Corporation.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the transport vehicle components market in 2023. The regions covered in the transport vehicle components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Transport Vehicle Components Market Report Structure
3. Transport Vehicle Components Market Trends And Strategies
4. Transport Vehicle Components Market - Macro Economic Scenario
5. Transport Vehicle Components Market Size And Growth
…..
27. Transport Vehicle Components Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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