The global Auto Parts and Accessories market will register a 2.9% CAGR in terms of revenue, the market size will reach USD 2387010 billion by 2027.
Automobile component sales are predicted to rise in response to increased car demand. Auto Parts and Accessories Market economies are expected to accelerate as a result of strict regulatory criteria for automobile safety. The Auto Parts and Accessories Market is growing due to technological advancements that are increasing the production of car parts. The Global Auto Parts and Accessories Market research offers a comprehensive analysis of the industry. The research includes a detailed analysis of key segments, trends, drivers, constraints, the competitive landscape, and other important market aspects.
Increasing Demand for Innovative Auto Parts to Meet Strict Emissions Regulations As the rate of scrapping of automobiles and engines rises, so does the demand for original equipment engines. Scrap rates are higher in developed countries because to stricter environmental restrictions, resulting in more frequent replacement of motor vehicles and engines than in developing countries. Similarly, developed countries are more likely to adopt new technology and engine advancements, such as hybrid engines, than poor countries. Growing government backing and significantly tighter pollution standards are driving up demand for car parts, pushing up demand for new vehicles with reduced fuel consumption.
April 13, 2022:: Toyoda Gosei Develops CNF-Reinforced Plastic for Automotive Parts--
Toyoda Gosei Co., Ltd. has developed* a cellulose nanofiber (CNF)-reinforced plastic with the aim of reducing CO2 over the lifecycle of automotive components, from raw material procurement and production to recycling and disposal. The newly developed CNF-reinforced plastic combines 20% CNF in a general-purpose plastic (polypropylene) used in automobile interior and exterior components. For practical application, reduced impact resistance from the inclusion of CNF was initially an issue.
February 28, 2022: Lear Completes Acquisition of Kongsberg Automotive’s Interior Comfort Systems Business Unit--
Lear Corporation (NYSE: LEA), a global automotive technology leader in Seating and E-Systems, today announced it has completed the acquisition of substantially all of Kongsberg Automotive’s Interior Comfort Systems (ICS) business unit. The acquisition will further advance Lear’s seat component capabilities and expand product offerings in increasingly popular thermal and comfort seating solutions, such as seat heating and ventilation, and massage and lumbar support.
The market is segmented based on the type, applications, companies and regions.
By Type, it is segmented into
By Application, it is segmented into
The Asia Pacific market is distinguished by rising vehicular sales of both passenger automobiles and commercial vehicles in growing economies such as China and India. In addition, there has been an increase in consolidation among parts distributors, as a result of new tax reforms, which are responsible for displacing the current unorganized sector. These factors are expected to propel APAC to a leading position in the worldwide market. The second-largest market share is predicted to be held by Europe. The use of advanced technologies in the production of auto parts, as well as the digitization of automotive component supply sales, are driving this region's market growth.
This market is expected to grow steadily in North America, with the United States accounting for the largest share. The presence of major manufacturers has positioned this region as a major aftermarket production hub for automobile parts and accessories. Because of increased fabrication and modification work in Mexico, the Latin American industry is likely to grow rapidly, whereas the Middle East market is still in its infancy.
North America
The Auto Parts and Accessories Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Auto Parts and Accessories Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
Report Attributes | Report Details |
Forecast Period 2022 to 2028 CAGR | CAGR of 2.9% over the forecast period (2022-2027) |
By Type |
|
By Application |
|
By Companies | Robert Bosch, Denso, Magna International, Continental, ZF Friedrichshafen, Hyundai Mobis, Aisin Seiki, Faurecia, Lear, Valeo, Delphi Automotive, Yazaki, Sumitomo Electric, JTEKT, Thyssenkrupp, Mahle GmbH, Yanfeng Automotive, BASF, Calsonic Kansei, Toyota Boshoku, Schaeffler, Panasonic Automotive, Toyoda Gosei, Autoliv, Hitachi Automotive, Gestamp, BorgWarner, Hyundai-WIA, Magneti Marelli, Samvardhana Motherson and others. |
Regions Covered |
|
Countries Covered |
|
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 133 |
Customization Available | Yes, the report can be customized as per your needs |
Frequently Asked Questions
What is the study period of this market?
The Auto Parts and Accessories Market is studied from 2017 - 2027.
What is the growth rate of Auto Parts and Accessories Market?
The Auto Parts and Accessories Market is growing at a CAGR of 2.9% over the next 5 years.
Who are the key players in Auto Parts and Accessories Market?
Robert Bosch, Denso, Magna International, Continental, ZF Friedrichshafen, Hyundai Mobis, Aisin Seiki, Faurecia, Lear, Valeo, Delphi Automotive, Yazaki, Sumitomo Electric, JTEKT, Thyssenkrupp, Mahle GmbH, Yanfeng Automotive, BASF, Calsonic Kansei, Toyota Boshoku, Schaeffler, Panasonic Automotive, Toyoda Gosei, Autoliv, Hitachi Automotive, Gestamp, BorgWarner, Hyundai-WIA, Magneti Marelli, Samvardhana Motherson and others.
What regions does this Auto Parts and Accessories Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Auto Parts and Accessories Market?
Driveline & Powertrain, Interiors & Exteriors, Electronics, Bodies & Chassis, Seating, Lighting, Wheel & Tires, Others
What are the major end-use applications of Auto Parts and Accessories Market?
OEMs, Aftermarket
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Application_List
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
Reach us with your research requirements and we shall provide the optimum solution to suit your needs.
Discounts available for multiple report purchases.