Press release
Major Industry Participants Reinforcing Their Presence in the Automotive Performance Parts Market
Automotive Performance Parts Market
Anticipated Growth and Market Value of the Automotive Performance Parts Sector
The automotive performance parts market is projected to expand consistently, reaching a valuation of $442.88 billion by 2030. This growth is expected to occur at a compound annual growth rate (CAGR) of 4.8%. Several factors contribute to this upward trend, including the rise of performance electric vehicle components, advances in digital engine tuning, the use of lightweight materials designed for performance, increased online sales of aftermarket parts, and the global spread of car culture. Key trends fueling market development include growing consumer demand for performance upgrades, a surge in motorsport-inspired components, expanding customization options, wider adoption of turbochargers and superchargers, and a general growth in aftermarket tuning activities.
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Top Industry Participants in the Automotive Performance Parts Market
The market features a range of leading companies known for their innovation and extensive product lines. Prominent names include 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., and Akrapovic d.d. A recent notable event occurred in February 2024, when Wharton Automotive Group (WAG), a US-based supplier of high-performance driveline components, acquired Competition Clutch Inc. The acquisition aims to strengthen Wharton's position in the market and broaden its product offerings. Competition Clutch Inc. specializes in performance products for sports vehicles, including compact clutch kits, flywheels, and related accessories.
Emerging Technological Advances in Automotive Performance Parts
Leading companies in this market are focusing heavily on technological innovations to improve vehicle performance and expand their global reach. One significant advancement is the increasing use of full titanium exhaust systems, prized for their lightweight nature, durability, and ability to boost engine efficiency. For example, in December 2023, Akrapovic d.d., an automotive component manufacturer based in Slovenia, unveiled two new race-focused products designed for the Ferrari 296 GTB: the Slip-On Race Line (Titanium) full titanium exhaust system and the Link Pipe Set made from high-grade stainless steel. The Slip-On Race Line reduces weight by 3.6% compared to the stock system, incorporating 3D-printed and cast parts to maximize performance and visual appeal, while enhancing engine sound with sport catalytic converters and optimized tailpipe design. The Link Pipe Set further reduces weight by 38.4% and improves exhaust flow, resulting in a more aggressive engine note and potentially better performance, albeit requiring mandatory ECU remapping.
View the full automotive performance parts market report:
https://www.thebusinessresearchcompany.com/report/automotive-performance-parts-global-market-report
Key Segments Driving Growth in the Automotive Performance Parts Market
This report breaks down the automotive performance parts market into several important segments, including product type, vehicle type, and sales channel.
By product type, the categories include Exhaust Systems, Suspension Parts, Brakes, Fuel Air and Intake Systems, Transmission Parts, and Power Adders.
Vehicle types covered are Passenger Cars and Light Commercial Vehicles.
Sales channels are divided between Original Equipment Manufacturer (OEM) and Aftermarket.
Further subcategories delve into specific parts such as:
- 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.
- 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.
- 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.
- 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.
- 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.
- Power Adders: Turbochargers, Superchargers, Nitrous Oxide Systems, Methanol Injection Kits.
This detailed segmentation highlights the wide array of products and applications that contribute to the sustained expansion of the automotive performance parts market.
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