Global Automotive Parts Market Overview:
The automotive parts manufacturing industry is comprised primarily of two segments such as original equipment (OE) suppliers and aftermarket suppliers. Original equipment suppliers design and manufacture parts required for the assembly of passenger cars and trucks. Aftermarket parts are automotive parts built or remanufactured to replace original equipment parts as they become worn or damaged. Automotive aftermarket buyers include retailers, repair or service facilities, do-it-yourself consumers, and wholesalers or distributors.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The Rising Demand for Passenger and Commercial Vehicles
Market Growth Drivers:
Aftermarket Maintenance, Repair and Enhancement of Vehicles
Challenges:
Increased Demand for Auto Parts Due to Higher Numbers of Older Vehicles Still in Operation
Restraints:
Automotive Sector Slowdown
Opportunities:
The Growth Opportunities from Emerging Economies and Aftermarket Opportunities
Competitive Landscape:
Automotive Parts is a fragmented market due to the presence of a large number of established competitors. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Robert Bosch (Germany), Denso Corp. (Japan), Magna International (Canada), Continental AG (Germany), ZF Friedrichshafen (Germany), Hyundai Mobis (South Korea), Aisin Seiki (Japan), Faurecia (France), Lear Corp. (United States), Valeo (France), Aptiv (Ireland), Yazaki Corp. (Japan), Sumitomo Electric (Japan), JTEKT Corp. (Japan) and Thyssenkrupp (Germany). Additionally, following companies can also be profiled that are part of our coverage like Mahle GmbH (Germany), Yanfeng Automotive (China), BASF (Germany), Calsonic Kansei Corp. (Japan), Toyota Boshoku Corp. (Japan), Schaeffler Group (Germany), Panasonic Automotive (Japan), Toyoda Gosei (Japan), Autoliv (Sweden), Hitachi Automotive (Japan), Gestamp (Spain), BorgWarner Inc. (United States), Hyundai-WIA Corp. (South Korea), Magneti Marelli (Italy) and Samvardhana Motherson (India). Analyst at AMA Research see Japanese and German Vendors to retain maximum share of Global Automotive Parts market by 2028. Considering Market by Sale Channel, the sub-segment i.e. OEM will boost the Automotive Parts market.
Latest Market Insights:
On 23 Sept. 2019, Aptiv and Hyundai Motor Group announced that they will be forming an autonomous driving joint venture. This partnership brings together one of the industry's most innovative vehicle technology providers and one of the world's largest vehicle manufacturers.
On 22 May 2019, Sumitomo Electric Industries, Ltd. has acquired the European manufacturer of powdered metal components Sinterwerke Herne GmbH (SWH, North Rhine-Westphalia, Germany) and Sinterwerke Grenchen AG (SWG, Canton of Solothurn, Switzerland).
What Can be Explored with the Automotive Parts Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Automotive Parts Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Automotive Parts
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automotive Parts market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Automotive Parts market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Automotive Parts Manufacturers, Automotive Parts Raw Material Suppliers, Automotive Parts Traders/Distributors, Automotive Parts Importer/Exporter, Industry Associations, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.