Automotive Parts and Components market will register a 4.3% CAGR in terms of revenue, the global market size will reach $ 2145060 million by 2026, from $ 1815860 million in 2019. In particular, this report presents the global revenue market share of key companies.
Automotive Parts and Components Market Overview
The automotive industry is rising rapidly because of the introduction of new innovations, which is increasing the development of automotive parts and components. As a result, key participants are correcting their methodologies to market trends to keep up with the intensity in a particularly dynamic environment. For instance, demand for Automotive Parts and Components is anticipated to increase due to latest technology in car engine clutches.
Essentially, in developed nations, application of new technology and innovations in engines, such as hybrid engines, is more prevalent than in developing nations, which is why Europe is projected have a larger automotive parts and components market share. Demand for producing new vehicles with decreased utilization of fuel is supported by increasing government support with moderately stricter emission norms, bringing about more demand for automotive parts and components. These factors are expected to help the development of the worldwide market for auto parts in the market.
India’s Automotive Mission Plan FAME-II emphasizes providing government support to the country’s growing automotive and its components manufacturing industry. Over the past few years, the automotive parts and accessories manufacturing industry has gone through a comprehensive remodeling, which is leading to the advent of a highly competitive industry.
Industry News
January 2021, Continental announced that it is bundling information about its product and service portfolio for the automotive aftermarket in a new online portal intended to offer everything for future mobility from one single source – and this includes the relevant services, training courses and sales promotion concepts
July 1, 2021: DENSO Corporation today announced it will transfer its aftermarket and non-automotive products organization to DENSO Solution Japan Corporation, which at the same time will be renamed DENSO Solution Corporation. The transfer will include product planning, development and aftersales service functions undertaken by DENSO’s Automotive & Life Solutions Division and Customer Service Engineering Division.
What are the major Applications, Types and Regions for Automotive Parts and Components Market?
By Type, it is segmented into
- Driveline & Powertrain
- Interiors & Exteriors
- Electronics
- Bodies & Chassis
- Seating
- Lighting
- Wheel & Tires
- Others
By Applications
Automotive Parts and Components Market Regional Analysis
The North American region is expected to dominate the market during the forecast period owing to higher disposable income and increased purchasing power in this region. Latin America is expected to be the fastest-growing region in this market. Europe is expected to be the second-largest market for auto components. The Asia Pacific region is expected to be the second-largest market for auto components. The Middle East & Africa is projected to grow at a moderate rate during the forecast period.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
What is our Automotive Parts and Components Market report scope?
Reports Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 4.3% during the review period (2022 to 2027).
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By Type
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- Driveline & Powertrain
- Interiors & Exteriors
- Electronics
- Bodies & Chassis
- Seating
- Lighting
- Wheel & Tires
- Others
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By Application
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By Companies
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Robert Bosch, Denso Corp., Magna International, Continental, ZF Friedrichshafen, Hyundai Mobis, Aisin Seiki, Faurecia, Lear Corp., Valeo, Delphi Automotive, Yazaki Corp., Sumitomo Electric, JTEKT Corp., Thyssenkrupp, Mahle GmbH, Yanfeng Automotive, BASF
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Regions Covered
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• North America
• Europe
• Asia-Pacific
• Rest of the World
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Countries Covered
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• US
• Canada
• Germany
• France
• UK
• Italy
• Spain
• Rest of Europe
• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific
• Middle East & Africa
• Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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122
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market
Frequently Asked Questions
What is the study period of this market?
The Automotive Parts and Components Market is studied from 2017 - 2027.
Who are the key players in Automotive Parts and Components Market?
Robert Bosch, Denso Corp., Magna International, Continental, ZF Friedrichshafen, Hyundai Mobis, Aisin Seiki, Faurecia, Lear Corp., Valeo, Delphi Automotive, Yazaki Corp., Sumitomo Electric, JTEKT Corp., Thyssenkrupp, Mahle GmbH, Yanfeng Automotive, BASF, Calsonic Kansei Corp., Toyota Boshoku Corp., Schaeffler, Panasonic Automotive, Toyoda Gosei, Autoliv, Hitachi Automotive, Gestamp, BorgWarner Inc., Hyundai-WIA Corp, Magneti Marelli, Samvardhana Motherson.
What are the significant types of Automotive Parts and Components Market?
Driveline & Powertrain, Interiors & Exteriors, Electronics, Bodies & Chassis, Seating, Lighting, Wheel & Tires, Others.
What are the major end-use applications of the Automotive Parts and Components Market?
OEMs, After Market.
What segments are covered in the Automotive Parts and Components Market report?
The Global Automotive Parts and Components Market is Segmented on the basics of Product, Application, and Geography.
How can I get a sample report/company profile for the Automotive Parts and Components Market?
The sample report for the Automotive Parts and Components Market can be obtained on demand from the website. Also, the 24*7 chat support & direct call services are provided to procure the sample report.
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.
