New Report Offers Auto Parts Manufacturing Market, Trends, Future Prospects during 2017-2025

New research report offers a comprehensive analysis of the “Global Market Study on Auto Parts Manufacturing: Underbody Components Segment Estimated to Reach a Significant Valuation in Excess of US$ 115 Bn by 2025 End “The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.

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Persistence Market Research has published a new research report featuring the auto parts manufacturing market at a global level. This research study includes volume sales along with the value generated from the sales of prominent automotive components and parts that encompasses cooling system, engine, battery and drivetrain components, lighting components, underbody components as well as electrical components. The research study segments the market into passenger cars, heavy commercial vehicles and light commercial vehicles. This research report can be called exhaustive in nature as it portrays a holistic view of the market. It highlights sales with respect to new vehicle production through OEM (original equipment manufacturer) as well as the independent aftermarket.

As per Persistence Market Research (PMR) forecasts, the global auto parts manufacturing market is projected to grow at a CAGR of 3.6% throughout the period of forecast. The valuation as estimated by PMR is expected to reach more than US$ 465 Bn by the end of the period of assessment from a value of about US$ 352 Bn in 2017. This growth in value can be attributed to the increasing demand for high energy density battery, rising adoption of hybrid power trains, rising demand for advanced pump for mid-size segments and increasing automotive production and vehicle parc.

Engine components to generate high revenue in the global auto parts manufacturing market

Engine components segment in the component type category reflected a high market share of around 46% in 2017 and led the global market. This segment is likely to dominate the global market in the coming years with a high market valuation and is estimated to reach a value of around US$ 212 Bn by the end of the year of estimation (2025) from a value of about US$ 164 Bn in 2017 and is projected to grow at a value CAGR of 3.3% during the period of forecast.

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Engine to significantly contribute to the growth of the overall engine components segment

The engine sub segment in the engine components segment is expected to grow at a CAGR of 3.1% throughout the period of forecast and is estimated to reach a value of more than US$ 129 Bn by the end of the period of assessment. This sub segment is anticipated to dominate the engine components category and hence the parent market and thus contributes largely to the revenue growth of the engine components segment during the assessment period. On the other hand, the pump sub segment has a major role in the growth of the parent segment with respect to growth rate. The pump sub segment is projected to grow at the highest pace owing to increased adoption and is poised to register a comparatively high value CAGR of 3.8%. Additionally, the pump sub segment is estimated to be the second largest from a market share and value perspective.

Automotive filters to grow at a significant rate throughout the period of forecast

The automotive filters segment in the component category is projected to grow at the highest pace during the assessment period and is expected to register high CAGR of 5.3% during the said timeline. However, it is estimated to reflect a lower market valuation of around US$ 17 Bn by the end of 2025 from US$ 11.3 Bn in 2017.

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This release was published on openPR.