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Global Automotive Performance Parts Market Size, Share, and Forecast Analysis 2025-2029
Automotive Performance Parts
What Are the Automotive Performance Parts Market Size Forecast for 2025?
In recent years, the market size for automotive performance parts has seen a consistent growth. It is projected to expand from $340.24 billion in 2024 to $351.42 billion in 2025, boasting a compound annual growth rate (CAGR) of 3.3%. The growth experienced in the historic period can be linked to factors such as increased vehicle ownership, the growing popularity of motorsports, a rise in disposable incomes, an expanding community of enthusiasts, and the longevity of vehicles.
What Is the Market Size Outlook for Automotive Performance Parts Until 2029?
The size of the automotive performance parts market is anticipated to experience consistent growth in the forthcoming years, reaching a valuation of $420.45 billion by 2029, expanding at a compound annual growth rate (CAGR) of 4.6%. The augmentation in the projected period can be ascribed to the escalating adoption of electric vehicles (EVs), an intensified focus on fuel efficiency and emission reduction, progress in 3D printing technology, and increasing consumer enthusiasm towards customization. Additionally, there is a rise in participation in car exhibitions and an expanding presence of e-commerce platforms. Key trends forecasted for this period encompass performance parts for electric vehicles (EVs), the adoption of sophisticated materials and lightweight components, increasing popularity of smart and connected performance parts, a shift towards eco-friendly efficiency and emission solutions, and the incorporation of artificial intelligence (AI) and machine learning techniques in optimizing part design.
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What Are the Major Factors Driving Demand in the Automotive Performance Parts Market?
The projected growth of the automotive performance part market is anticipated to be buoyed by the escalating demand for sports cars and luxury vehicles. Sports cars, notable for their high-performance with emphasis on speed and agility, and luxury vehicles, renowned for their comfort, quality, and state-of-the-art features are gaining rising adoption. This is primarily fueled by consumers' increasing desires for automobiles that confer status and are marked by advanced and high-performance features. Performance parts, which are extensively used in sports cars and luxury vehicles, are crucial in augmenting speed, handling, and overall driving dynamics, hence appealing to car enthusiasts. These parts also enhance comfort and performance for luxury car owners. For instance, a report from the International Council on Clean Transportation, a nonprofit organization based in the U.S. that focuses on promoting sustainable and efficient clean transportation, noted in January 2024 that there was a 63% increase in sales of luxury segment vehicles in Europe compared to 2021. Furthermore, 2022 saw a 63% increase in new car registrations within the luxury segment compared to the preceding year. Notably, 47% of the new vehicle registrations in 2022 were accounted for by the sport and utility vehicle segments. Consequently, the automotive performance part market is expected to grow buoyed by rising demand for sports cars and luxury vehicles.
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How Are End-Use Segments Shaping the Automotive Performance Parts Market Outlook?
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, After market
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
What Are the Strategic Trends Transforming the Automotive Performance Parts Market Landscape?
Major businesses in the automotive performance parts market are honing their technological prowess to elevate vehicular performance and extend their market reach globally, by exploring benefits of innovations like full titanium exhaust systems. These systems are gaining recognition in the automotive performance parts sector due to their lightweight nature, resilience, and capacity to boost engine efficiency. In December 2023, Akrapovic d.d., an automobile component producer based in Slovenia, launched two performance products aimed at the race-track for the Ferrari 296 GTB. These include the Slip-On Race Line (Titanium), a full titanium exhaust system and the Link Pipe Set (SS) made from premium stainless steel. The Slip-On Race Line not only reduces weight by 3.6% in comparison to the original, but also integrates 3D-printed and cast parts, thereby optimizing performance and visual appeal, and improving engine sound via sport catalytic converters and a well-designed tailpipe. Further weight reduction is achieved (38.4%) with the Link Pipe Set and it also improves exhaust flow for a bolder engine noise, which could potentially enhance performance by requiring essential ECU remapping.
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Who Are the Prominent Companies in the Automotive Performance Parts Market by ?
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
Which Region Is Expected to See the Highest CAGR 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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