Press release
Escalating Evolution and Innovation in Transport Vehicle Components Market: Impending Growth and Trends
"Evolving automotive designs and innovative lightweight materials aid the growth of the transport vehicle components market, revealing a promising compound annual growth trajectory.
What Is The Projected Market Size Of The Global Transport Vehicle Components Market And Its Growth Rate?
The transport vehicle components market showcases substantial growth figures:
• From $791.98 billion in 2024 to $839.2 billion in 2025 at a CAGR of 6.0%
• Anticipated to reach $1104.39 billion in 2029 at a CAGR of 7.1%
Driving factors include automotive design evolution, fuel efficiency demands, emerging emissions regulations, materials innovation, and an expanding connected vehicle ecosystem.
What Is Driving The Growth In The Transport Vehicle Components Market?
Rising demand for commercial vehicles powers the transport vehicle components market. An increase in the utilization of commercial vehicles for transporting goods drives the necessity for vehicle components, fuelling market growth. A notable example is a 22.1% sales surge in Chinese commercial vehicles in 2023, resulting in a record total of 4,031,000 units.
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Who Are the Key Players Driving Transport Vehicle Components Market Growth?
Leading companies in the transport vehicle components market include:
• 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
• Tesla Inc.
• Hitachi Ltd.
• ABB Ltd.
• BYD Company Limited
• Panasonic Corporation
• Denso Corporation
• Harman International Industries
• Alps Alpine Co. Ltd.
• Toyota Industries Corporation
• KION Group AG
• Mitsubishi Logisnext Co. Ltd.
• Jungheinrich AG
• Crown Equipment Corporation
What Are The Key Trends In The Transport Vehicle Components Market?
The transport vehicle components market is trending towards:
• 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
What Are The Segments Of The Global Transport Vehicle Components Market?
The transport vehicle components market comprises of the following segments:
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), After market
Which Region Leads The Transport Vehicle Components Market?
In 2024, North America was the largest region in the transport vehicle components market. Other regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Transport Vehicle Components Market Global Market Report?
- Market Size Analysis: Analyze the Transport Vehicle Components Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Transport Vehicle Components Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Transport Vehicle Components Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Transport Vehicle Components Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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