Press release
Future of the Automotive Performance Parts Market: Trends, Innovations, and Key Forecasts Through 2034
Automotive Performance Parts
Automotive Performance Parts Market Size Growth Forecast: What to Expect by 2025?
In recent times, the market size for automotive performance parts has seen a robust expansion. The growth is projected to continue, with figures anticipated to rise from $340.28 billion in 2024 to $359.75 billion in 2025, marking a compound annual growth rate (CAGR) of 5.7%. This growth during the historic period has been driven by factors such as an increase in vehicle ownership, rising interest in motorsports, higher disposable incomes, a burgeoning community of enthusiasts, and the improved longevity of vehicles.
How Will the Automotive Performance Parts Market Size Evolve and Grow by 2029?
The size of the automotive performance parts market is anticipated to witness substantial growth in the coming years. Estimated to reach $445 billion in 2029 with a compound annual growth rate (CAGR) of 5.5%, the growth during this forecast period can be ascribed to elements like the surging adoption of electric vehicles (EVs), an escalating emphasis on fuel efficiency and emission reduction, advancements in 3D printing technology, rising customer inclination towards personalization, increased involvement in car exhibitions and events, and the expanding online retail platforms. Key trends projected for the forecast period comprise performance parts suitable for electric vehicles (EVs), an inclination towards superior materials and lightweight parts, expansion in intelligent and interconnected performance parts, an emphasis on ecological solutions for efficiency and emission control, and the incorporation of Artificial Intelligence (AI) and machine learning in performance parts design optimization.
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What Drivers Are Propelling the Growth of Automotive Performance Parts Market Forward?
The burgeoning interest in sports cars and luxury vehicles is predicted to augment the growth of the automotive performance part market. Sports cars, known for their improved speed and agility, alongside luxury vehicles that focus on comfort, quality, and state-of-the-art features, are seeing a rise in consumer demand. This surge is due to buyers seeking vehicles that not only offer high-performance but also provide an enhancement to their status. Performance parts are widely used in both sports cars and luxury vehicles to amplify speed, handling, and overall driving dynamics, appealing to vehicle enthusiasts while ensuring comfort and performance for owners of luxury vehicles. In a January 2024 report by the International Council on Clean Transportation, a nonprofit organization located in the U.S geared towards the progress of clean, efficient, and viable transportation, it was indicated that luxury vehicle sales in Europe had surged by 63% in comparison to 2021. Furthermore, there was a 63% increase in new car registrations in the luxury segment in 2022 compared to the previous year. In 2022, sports and utility vehicle segments made up 47% of new vehicle registrations. Therefore, the escalating demand for sports cars and luxury vehicles is anticipated to steer the growth of the automotive performance part market.
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Which Emerging Trends Are Transforming the Automotive Performance Parts Market in 2025?
Leading firms in the automotive performance parts market are turning their focus towards technology innovations in their quest to improve vehicle performance and extend their market footprints. In particular, they are increasingly deploying full titanium exhaust systems that are lightweight, durable, and enhance an engine's performance. As a case in point, in December 2023, Akrapovic d.d., a Slovenian automotive component producer, launched two racetrack-centric performance products for the Ferrari 296 GTB. These included the Slip-On Race Line (Titanium), a full titanium exhaust system, and the Link Pipe Set (SS), made from high-grade stainless steel. The former offers a 3.6% lower weight than stock and includes 3D-printed and cast parts to maximize performance and aesthetic appeal, while also enhancing the engine's sound. On the other hand, the latter further cuts weight (38.4%) and fosters better exhaust flow to produce a fierce engine sound, potentially boosting performance with mandatory ECU remapping.
What Are the Key Segments in the Automotive Performance Parts Market?
The automotive performance parts market covered in this report is segmented -
1) By Product Type: Exhaust Systems, Suspension Parts, Brakes, Fuel Air And Intake Systems, Transmission Parts, Power Adders
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
3) By Sales Channel: First Fit, Aftermarket
Subsegments:
1) By Exhaust Systems: Cat-Back Exhaust Systems, Header And Header-Back Exhaust Systems, High-Performance Exhaust Manifolds, Turbo Back Exhaust Systems, Mufflers And Resonators, Exhaust Tips And Pipe Kits
2) By Suspension Parts: Performance Shocks And Struts, Coilover Kits, Suspension Springs (Lowering And Performance Springs), Sway Bars And Anti-Roll Bars, Performance Control Arms And Bushings, Strut Tower Braces, Adjustable Ride Height Suspension Kits
3) By Brakes: Performance Brake Pads, High-Performance Brake Rotors (Slotted, Drilled), Big Brake Kits, Brake Lines And Hoses (Braided Stainless Steel), Performance Brake Calipers, Brake Fluid And Cooling Systems
4) By Fuel Air And Intake Systems: Cold Air Intakes, Performance Air Filters, Turbochargers And Superchargers, Intercoolers And Piping Kits, Fuel Injectors And Regulators, Performance Throttle Bodies, Intake Manifolds
5) By Transmission Parts: Short Shifters And Shift Knobs, Performance Clutches And Flywheels, Lightweight Transmission Parts (Gear Sets), Limited Slip Differentials (LSD), Performance Torque Converters, Transmission Coolers And Kits
6) By Power Adders: Turbochargers, Superchargers, Nitrous Oxide Systems, Methanol Injection Kits, Performance Ec Or Ecm Tuners And Chips, Performance Exhaust Turbines
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Who Are the Key Players Shaping the Automotive Performance Parts Market's Competitive Landscape?
Major companies operating in the automotive performance parts market are Robert Bosch GmbH, Denso Corporation, Continental AG, Honeywell International Inc, AISIN SEIKI Co Ltd, Mitsubishi Heavy Industries Ltd, Cummins Inc., Tenneco Inc., Mahle GmbH, BorgWarner Inc., KW Automotive, The NGK Spark Plug Co Ltd, Brembo SpA, Donaldson Company Inc, EXEDY Corporation, Holley Performance Products Inc, K&N Engineering Inc, Eibach Springs Inc, MagnaFlow, Edelbrock LLC, HKS Co Ltd, Borla Performance Industries, Mishimoto Automotive, AEM Performance Electronics, Cobb Tuning, APR LLC, Dinan Engineering Inc, Akrapovic dd
What Geographic Markets Are Powering Growth in the Automotive Performance Parts Market?
North America was the largest region in the automotive performance parts market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive performance parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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