Press release
The Automotive Ancillaries' Products Market Reach USD 28,583 Million by 2032 Growing at 6.6% CAGR
The global automotive ancillaries' products market has experienced significant growth and transformation driven by a combination of an increase in global automobile sales, surge in popularity of vehicle electrification & hybridization, and an upsurge in trend toward weight reduction in automobiles. Moreover, increase in R&D in autonomous and connected vehicle technology and surge in demand for sustainable & eco-friendly solutions, are likely to shape the industry's future.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง ๐๐๐ - 280 ๐๐๐ ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/request-sample/A185104
The global automotive ancillaries' products market size was valued at $15,380 million in 2022 and is projected to reach $28,583 million by 2032, registering a CAGR of 6.6% from 2023 to 2032.
The automotive ancillaries' products market analysis is segmented on the basis of component, application and distribution channel, and region. On the basis of component, the market is divided into engine transmission & suspension components, electrical parts, sheet metal parts & body and chassis, cleaning, maintenance & repair products, and others. On the basis of application, the market is fragmented into commercial vehicles and passenger vehicles. On the basis of distribution channel, the market is segregated into OEM and aftermarket. By region, the market is analyzed across North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐๐ฎ๐ฅ๐ฅ ๐ฌ๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ ๐๐ญ : https://www.alliedmarketresearch.com/automotive-ancillaries-products-market-A185104
๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ข๐ฅ๐ฅ๐๐ซ๐ข๐๐ฌ' ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ฌ ๐๐๐ซ๐ค๐๐ญ
โ The leading companies have adopted strategies such as acquisition, agreement, expansion, partnership, contracts, and product launches to strengthen their market position.
โ On August 17, 2023, Uno Minda commissioned two new manufacturing facilities in Haryana, India. The new manufacturing facilities look after the manufacturing of ancillaries' products for electric vehicles. The new manufacturing facility is expected to majorly manufacture on-board chargers, off-board chargers, motor control units, DC-DC converters, and battery management systems for electric 2 and 3-wheelers.
โ On January 13, 2023, Robert Bosch GmbH announced its plan to invest $1 billion in component manufacturing of electric vehicles in China. The company plans to build a new manufacturing facility and research and development center in Suzhou City. The company also plans to increase its production of electric drive systems for commercial vehicles, including electric motors and power electronic control units, in China; the investment in a new manufacturing facility is anticipated to boost the company's presence in the Asia-Pacific region.
โ On July 10, 2023, ZF Friedrichshafen AG showcased its next gen of electric powertrains for OEM. The new product range includes all-electric central drives, axle drives, and other related components, which are particularly developed for light, medium, and heavy-duty trucks and trailers. The new integrated, modular e-driveline systems ensure noiseless and emission-free vehicle operation.
๐๐ ๐ฒ๐จ๐ฎ ๐ก๐๐ฏ๐ ๐๐ง๐ฒ ๐ช๐ฎ๐๐ฌ๐ญ๐ข๐จ๐ง๐ฌ, ๐๐ฅ๐๐๐ฌ๐ ๐๐๐๐ฅ ๐๐ซ๐๐ ๐ญ๐จ ๐๐จ๐ง๐ญ๐๐๐ญ ๐จ๐ฎ๐ซ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ ๐๐ญ: https://www.alliedmarketresearch.com/connect-to-analyst/A185104
By region, Asia-Pacific held the highest market share in terms of revenue in 2022, and the fastest CAGR of 7.8% from 2023 to 2032, and is estimated to maintain its leadership status throughout the forecast period, due to the higher adoption rates of smart mobility solutions such as EV and hybrid vehicle due to increasing in disposable income. Moreover, the region has witnessed an increase in sales of passenger vehicles, due to increasing disposable income among consumers and a growing inclination towards personally owned vehicles. Furthermore, rapid urbanization in the Asia-Pacific region and a growing population in cities have resulted in consumers spending more on owning a passenger vehicle for their daily commute.
The automotive ancillaries' products market is highly competitive, with several key players dominating the industry. Prominent manufacturers focus on innovation, product differentiation, and strategic partnerships to maintain their market positions. Market leaders include companies such as Robert Bosch GmbH, Uno Minda, Continental AG, NIPPON, Duncan Engineering Ltd, ZF Friedrichshafen AG, DENSO CORPORATION, Magna International Inc, AISIN CORPORATION, and Lear Corporation
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A185104
๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐๐๐๐๐
โ By component, the electrical part segment is anticipated to exhibit significant growth in the automotive ancillaries' products market size in the near future.
โ By application, the passenger vehicle segment is anticipated to exhibit significant growth in the automotive ancillaries' products market analysis in the near future.
โ By distribution channel, the aftermarket segment exhibits significant growth in the automotive ancillaries' products market size in the near future.
โ By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฉ๐ญ๐จ ๐๐% ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ (280 ๐๐๐ ๐๐ฌ ๐๐๐ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐๐ก๐๐ซ๐ญ๐ฌ, ๐๐๐๐ฅ๐๐ฌ, ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/automotive-ancillaries-products-market/purchase-options
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