Automotive Parts and Components Market By Size, Share and Forecast 2028

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 553.2 billion
CAGR (2023-2028)	6.7%
Fastest Growing Segment	Driveline and Powertrain
Largest Market	Asia-Pacific

Market Overview

The Global Automotive Parts and Components Market size reached USD 553.2 billion in 2022 and is expected to reach USD 809.75 billion by 2028. The Global Automotive Parts and Components Market holds a pivotal role within the automotive industry, encompassing a vast array of essential components that contribute to vehicle functionality, performance, safety, and comfort. This intricate network of parts, ranging from engines and transmissions to electronics and interiors, forms the backbone of vehicle production and maintenance.

Technological advancements are a driving force behind the market's evolution. Manufacturers are consistently innovating to enhance the efficiency, durability, and environmental friendliness of automotive parts. Integration of smart technologies, such as sensors and connectivity, is becoming increasingly common to improve vehicle diagnostics, safety features, and overall driving experience. Global demand for automobiles directly influences the automotive parts and components market. As vehicle ownership rises, the need for replacement parts, maintenance, and repairs increases as well. Additionally, the trend toward electric and hybrid vehicles drives demand for specialized components like batteries, electric drivetrains, and charging infrastructure.

Safety and regulatory standards play a vital role in shaping the market. Manufacturers are required to adhere to stringent safety regulations, influencing the design and production of components like airbags, braking systems, and advanced driver assistance systems (ADAS). As environmental concerns grow, the market also sees a shift toward producing eco-friendly components that align with emissions regulations and sustainability goals. Globalization has transformed the automotive parts and components landscape into a complex ecosystem. Suppliers, manufacturers, and distributors are interconnected across various regions, contributing to a competitive market environment. The rise of e-commerce and digital platforms has further facilitated the distribution and accessibility of automotive parts on a global scale.

Vehicle design trends also impact the tire market, as advancements in electric and autonomous vehicles require specialized tires to accommodate their unique characteristics. Electric vehicles demand tires that minimize rolling resistance and enhance battery efficiency, while autonomous vehicles prioritize tire sensors and communication with vehicle systems for optimized performance and safety.

The Global Automotive Parts and Components Market represents an intricate web of technological innovation, global supply chains, regulatory standards, and shifting consumer preferences. It serves as the foundation of the automotive industry, powering vehicles with advanced systems, enabling safety features, and supporting the evolution toward sustainable and connected mobility solutions. The market's adaptability to changing trends and its role in shaping the future of transportation underline its significance within the broader automotive landscape.

Key Market Drivers

Growing Technological Advancements and Innovation

The relentless pursuit of technological advancements remains a primary driver. Manufacturers are continually exploring innovative materials, manufacturing techniques, and design methodologies to enhance the performance, efficiency, and safety of automotive parts. The integration of advanced electronics, sensors, and software is enabling the development of sophisticated components, such as electric drivetrains, autonomous driving systems, and infotainment solutions, revolutionizing the driving experience.

Growing Vehicle Production and Sales

The expansion of the automotive parts and components market is closely intertwined with the global demand for vehicles. As the automotive industry continues to grow, driven by rising consumer aspirations and urbanization, the need for components spanning engines, transmissions, chassis systems, interiors, and electronics escalates. The increasing number of vehicles on the road creates a substantial aftermarket demand for replacement parts, maintenance, and repair services, further stimulating the market's growth.

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Shifting Consumer Preferences and Regulatory Standards

Evolving consumer preferences and stringent regulatory standards are powerful forces shaping the market. Consumers are seeking vehicles that are fuel-efficient, environmentally friendly, and equipped with advanced safety features. Consequently, manufacturers are compelled to develop components that align with these demands, including eco-friendly drivetrains, lightweight materials, and integrated safety systems. Stringent emissions regulations and safety standards also drive innovation, pushing the market toward cleaner and safer solutions.

Rise of Electric and Hybrid Vehicles

The global transition toward electric and hybrid vehicles is a transformative driver for the automotive parts and components market. Electric powertrains require specialized components such as lithium-ion batteries, electric motors, power electronics, and charging infrastructure. As governments worldwide adopt stricter emissions standards and offer incentives for electric vehicles, manufacturers are investing heavily in developing electric-oriented components, reshaping the industry's landscape.

Global Supply Chain Integration and Connectivity

The automotive parts and components market operates within a globally interconnected supply chain. Manufacturers source components and materials from various regions, optimizing costs and quality. This integration is further facilitated by advancements in supply chain management and communication technologies. The rise of digital platforms and e-commerce has streamlined distribution, allowing consumers and businesses to access parts and components with unprecedented ease, regardless of geographical location. The Global Automotive Parts and Components Market is driven by a multi-dimensional interplay of technological innovation, consumer demands, regulatory pressures, electric vehicle adoption, and global supply chain integration. The intricate balance of these drivers underscores the market's resilience and adaptability as it shapes the present and future of the automotive industry.

Key Market Challenges

Rapid Technological Evolution and Complexity

One of the foremost challenges is the rapid pace of technological evolution. While innovation is a driver, it also presents complexities. The integration of advanced electronics, software, and connectivity features into automotive parts and components demands constant adaptation and upskilling. This challenge is amplified by the need for compatibility and seamless integration of components across a diverse range of vehicle models and manufacturers.

Sustainability and Environmental Concerns

The market faces increasing pressure to align with sustainability goals and reduce the automotive industry's environmental impact. Developing eco-friendly components, such as those suitable for electric and hybrid vehicles, requires substantial investments in research and development. Manufacturers must strike a balance between creating sustainable solutions and ensuring cost-effectiveness without compromising performance or safety.

Regulatory Compliance and Safety Standards

Stringent safety and emissions regulations globally require manufacturers to meet a complex web of compliance standards. The challenge lies in navigating these intricate requirements, particularly as they evolve in response to technological advancements. Manufacturers must invest in testing, validation, and certification processes to ensure their components meet the required standards, adding to development costs and time-to-market challenges.

Supply Chain Disruptions and Global Uncertainties

The automotive parts and components market operates within a vast and interconnected supply chain. Disruptions, such as those caused by natural disasters, geopolitical tensions, or global health crises, can disrupt the flow of materials and components. The increasing interdependence of global economies also exposes the market to uncertainties related to trade policies, tariffs, and currency fluctuations, impacting cost structures and supply chain stability.

The rapid pace of technological advancement presents a considerable challenge. While innovation drives progress, it also demands swift adaptation and expertise to integrate new technologies seamlessly into components. This challenges manufacturers to stay current and invest in upskilling their workforce. Another pressing challenge stems from the industry's shift towards electrification and sustainability. Developing components for electric and hybrid vehicles requires significant investment in research and development, as well as adapting production processes. Striking a balance between innovation and cost-effectiveness is paramount. Stringent global regulations regarding emissions and safety standards create complexity and raise the bar for compliance. Manufacturers must navigate a complex web of regulations, invest in testing, validation, and certification, and ensure components meet evolving standards. The ever-evolving global supply chain landscape introduces uncertainties. Disruptions caused by factors such as geopolitical tensions, natural disasters, or supply chain bottlenecks can impact the timely delivery of components. The increasing interdependence of economies also subjects the industry to uncertainties related to trade policies and currency fluctuations. Moreover, the demand for customization and personalization presents challenges in terms of production efficiency. As consumers seek tailored components and features, manufacturers must develop strategies to cater to diverse preferences while maintaining cost-effectiveness and production scalability. The Global Automotive Parts and Components Market grapples with challenges stemming from technological evolution, electrification, compliance with stringent regulations, supply chain intricacies, and customization demands. Addressing these challenges requires proactive strategies, continuous innovation, and collaborative efforts across the industry to navigate the complexities of the automotive landscape successfully.

The Global Automotive Parts and Components Market faces challenges arising from the rapid evolution of technology, the need for sustainability, compliance with stringent regulations, and the intricacies of a globally interconnected supply chain. Addressing these challenges requires continuous innovation, strategic planning, and a proactive approach to navigating the complexities of the automotive landscape.

Key Market Trends

Electrification and Hybridization

The trend towards electrification and hybridization is driven by the global push for cleaner and more sustainable transportation. As electric vehicles (EVs) and hybrids gain traction, there's a surging demand for components like lithium-ion batteries, electric motors, power electronics, and charging infrastructure. Automotive parts and components are evolving to accommodate the unique requirements of EVs, which include battery management systems, regenerative braking systems, and electric drivetrains. The integration of these components reflects a shift towards a future of zero-emission mobility.

Connectivity and Smart Technologies

Connectivity is redefining the automotive experience, with components increasingly incorporating smart technologies. Advanced sensors, actuators, and control units enable features like advanced driver assistance systems (ADAS), adaptive cruise control, lane departure warnings, and automated parking. Furthermore, infotainment systems with touchscreens, voice recognition, and smartphone integration are becoming standard components. These technologies enhance safety, convenience, and entertainment, laying the groundwork for autonomous driving capabilities.

Lightweight Materials and Efficiency

Efficiency and sustainability are driving the adoption of lightweight materials. Components crafted from aluminum, high-strength steel, and composite materials contribute to vehicle weight reduction without compromising structural integrity. Lighter vehicles translate to improved fuel efficiency and reduced emissions. This trend extends to interior components, where lightweight materials enhance passenger comfort and reduce overall vehicle weight.

Circular Economy and Sustainable Practices

Sustainability is a prominent concern, leading to a focus on circular economy practices within the automotive parts and components market. Manufacturers are prioritizing the use of recyclable and eco-friendly materials to create components that are not only durable but also easily disassembled and recycled. Remanufacturing and refurbishing parts are gaining prominence, reducing waste and conserving resources. These practices align with global sustainability goals, reducing the industry's environmental footprint.

3D Printing and Customization

The advent of 3D printing technology is revolutionizing the production and customization of automotive components. This trend offers the flexibility to produce complex geometries and customized parts on-demand, reducing lead times and enhancing production efficiency. 3D printing also supports localized manufacturing, minimizing transportation costs and carbon emissions. Customization is elevated as components can be tailored to specific vehicle models or individual consumer preferences, offering a personalized driving experience.

These trends are shaping the future of the Global Automotive Parts and Components Market. As manufacturers embrace electrification, connectivity, sustainability, lightweighting, and advanced manufacturing techniques, they are not only responding to industry shifts but also laying the foundation for a new era of automotive innovation and consumer-centric mobility solutions.

Segmental Insights

Powertrain components form the heart of a vehicle's mechanical systems. This segment encompasses engines, transmissions, drivetrains, and exhaust systems. As the industry shifts toward electrification, hybridization, and increased fuel efficiency, powertrain components are evolving to accommodate electric motors, battery packs, and innovative transmission technologies. Moreover, advancements in materials and manufacturing techniques are enhancing the performance and durability of traditional internal combustion engine components. This segment is characterized by the integration of advanced electronics and connectivity features into vehicles. It encompasses components such as infotainment systems, navigation systems, sensors, control units, and electronic control modules. The proliferation of connectivity and smart technologies is driving demand for sensors that enable features like ADAS, adaptive lighting, and automated parking. Infotainment systems with touchscreens, voice recognition, and smartphone integration are enhancing the driving experience and shaping consumer expectations.

Chassis and suspension components are integral to a vehicle's handling, stability, and comfort. This segment includes components such as suspension systems, shock absorbers, brakes, steering systems, and wheels. The trend towards lightweight materials and advanced suspension technologies is influencing the design of these components, resulting in improved ride quality, enhanced handling, and optimized safety. Components within this segment contribute to passenger comfort, aesthetics, and convenience. It encompasses interior materials, seats, climate control systems, lighting, and interior electronics. As consumers prioritize comfort and a premium driving experience, manufacturers are incorporating features like adjustable seating, advanced climate control, ambient lighting, and advanced infotainment systems that enhance interior aesthetics and create a luxurious cabin environment.

This segment includes components that define a vehicle's external appearance and contribute to its safety and aerodynamics. Body panels, lighting systems, mirrors, and aerodynamic enhancements fall within this category. Aesthetic trends are shaping exterior design, influencing the use of innovative materials, such as carbon fiber, to achieve lightweight designs without compromising structural integrity. Additionally, the integration of LED lighting and advanced sensor technologies enhances safety and visibility.

The Global Automotive Parts and Components Market's segmental insights underscore the industry's multifaceted nature. From powertrain evolution to electronics integration, chassis innovation, interior comfort, and exterior aesthetics, each segment plays a critical role in shaping vehicles that meet consumer expectations for performance, safety, sustainability, and connectivity.

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Regional Insights

North America boasts a mature automotive market characterized by a strong consumer base and a preference for larger vehicles such as trucks and SUVs. This drives the demand for powertrain components suited to these vehicles, including engines with higher torque capabilities and advanced transmission systems. The emphasis on safety features like ADAS and connectivity systems aligns with the region's technologically savvy consumers. Moreover, stringent emissions regulations stimulate the development of eco-friendly powertrain components.

Europe showcases a diverse automotive landscape with a rich history of luxury and performance vehicles. The emphasis on fuel efficiency, emissions reduction, and sustainability leads to a significant demand for lightweight materials, efficient powertrains, and advanced electronics. Regulations such as Euro 6 emissions standards drive the need for advanced exhaust systems and components that contribute to cleaner air quality. European consumers also value premium interiors and cutting-edge infotainment technologies.

The Asia-Pacific region is the epicenter of automotive growth, driven by emerging economies like China and India. The demand for affordable vehicles, along with rapid urbanization, fuels the need for powertrain components optimized for efficiency and performance. The region's leadership in electric vehicle adoption calls for a robust supply of components related to electric drivetrains and charging infrastructure. Asia-Pacific consumers also prioritize infotainment and connectivity features, driving demand for advanced electronics components.

The Middle East and Africa present a unique blend of luxury and rugged terrains. The demand for power-train components that withstand extreme temperatures and challenging conditions is prominent. Premium vehicles in the region require high-performance components, particularly for suspension systems and luxury interiors. Off-road capabilities are highly valued, driving the demand for durable chassis and suspension components. Furthermore, the region's increased interest in electric vehicles is shaping the demand for related components.

South America's automotive market is characterized by diverse road conditions and varying economic factors. The region's preference for compact vehicles and urban commuting drives demand for powertrain components that offer efficiency and affordability. Safety considerations, including mandatory safety features, influence the demand for components like airbags and braking systems. The market's sensitivity to economic fluctuations can impact component sales, prompting manufacturers to balance cost-effective solutions with quality.

Recent Developments

In June 2023, Fox Auto Parts in Belleville, Michigan, was acquired by Fenix Parent LLC, doing business as Fenix Parts ("Fenix Parts"), a prominent recycler and reseller of original equipment manufacturer vehicle parts.
In January 2022, A Sales and Hose Line Competence Centre for Powertrain Technology was established by Continental in Japan. The technology business intends to collaborate more closely with local powertrain technology pioneers and actively contribute to the transformation of mobility as part of Japan's Hydrogen Society plan by expanding its footprint in Japan.

Key Market Players

B Robert Bosch GmbH
DENSO CORPORATION
Continental AG, ZF
Friedrichshafen AG
Hyundai Motor Group
Aisin Corporation
Magna International Inc.
Valeo
Lear Corporation
Yazaki Group

By Type	By Demand Category	By Geography
Driveline and Powertrain Interiors and Exteriors Electronics, Bodies & Chassis Tires Others	OEM Replacement	North America Europe & CIS Asia-Pacific South America Middle East & Africa

Report Scope

In this report, the Global Automotive Parts and Components Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Automotive Parts and Components Market By Type:

o Driveline and Powertrain

o Interiors and Exteriors

o Electronics, Bodies & Chassis

o Tires

o Others

Automotive Parts and Components Market, By Demand Category:

o OEM

o Replacement

Automotive Parts and Components Market, By Region:

o North America

§ United States

§ Canada

§ Mexico

o Europe & CIS

§ Germany

§ Spain

§ France

§ Russia

§ Italy

§ United Kingdom

§ Belgium

o Asia-Pacific

§ China

§ India

§ Japan

§ Indonesia

§ South Korea

§ Australia

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ Turkey

§ Iran

§ Saudi Arabia

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Automotive Parts and Components Market.

Available Customizations:

Global Automotive Parts and Components Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Automotive Parts and Components Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

Introduction

1.1. Product Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Impact of COVID-19 on Global Automotive Parts and Components Market

5. Global Automotive Parts and Components Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Type Market Share Analysis (Driveline and Powertrain, Interiors and Exteriors, Electronics, Bodies & Chassis, Tires, and Others)

5.2.2. By Demand Category Market Share Analysis (OEM and Replacement)

5.2.3. By Regional Market Share Analysis

5.2.3.1. Asia-Pacific Market Share Analysis

5.2.3.2. Europe & CIS Market Share Analysis

5.2.3.3. North America Market Share Analysis

5.2.3.4. South America Market Share Analysis

5.2.3.5. Middle East & Africa Market Share Analysis

5.2.4. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2022)

5.3. Global Automotive Parts and Components Market Mapping & Opportunity Assessment

5.3.1. By Type Market Mapping & Opportunity Assessment

5.3.2. By Demand Category Market Mapping & Opportunity Assessment

5.3.3. By Regional Market Mapping & Opportunity Assessment

6. Asia-Pacific Automotive Parts and Components Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type Market Share Analysis

6.2.2. By Demand Category Market Share Analysis

6.2.3. By Country Market Share Analysis

6.2.3.1. China Market Share Analysis

6.2.3.2. India Market Share Analysis

6.2.3.3. Japan Market Share Analysis

6.2.3.4. Indonesia Market Share Analysis

6.2.3.5. South Korea Market Share Analysis

6.2.3.6. Australia Market Share Analysis

6.2.3.7. Rest of Asia-Pacific Market Share Analysis

6.3. Asia-Pacific: Country Analysis

6.3.1. China Automotive Parts and Components Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Type Market Share Analysis

6.3.1.2.2. By Demand Category Market Share Analysis

6.3.2. India Automotive Parts and Components Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Type Market Share Analysis

6.3.2.2.2. By Demand Category Market Share Analysis

6.3.3. Japan Automotive Parts and Components Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Type Market Share Analysis

6.3.3.2.2. By Demand Category Market Share Analysis

6.3.4. Indonesia Automotive Parts and Components Market Outlook

6.3.4.1. Market Size & Forecast

6.3.4.1.1. By Value

6.3.4.2. Market Share & Forecast

6.3.4.2.1. By Type Market Share Analysis

6.3.4.2.2. By Demand Category Market Share Analysis

6.3.5. South Korea Automotive Parts and Components Market Outlook

6.3.5.1. Market Size & Forecast

6.3.5.1.1. By Value

6.3.5.2. Market Share & Forecast

6.3.5.2.1. By Type Market Share Analysis

6.3.5.2.2. By Demand Category Market Share Analysis

6.3.6. Australia Automotive Parts and Components Market Outlook

6.3.6.1. Market Size & Forecast

6.3.6.1.1. By Value

6.3.6.2. Market Share & Forecast

6.3.6.2.1. By Type Market Share Analysis

6.3.6.2.2. By Demand Category Market Share Analysis

7. Europe & CIS Automotive Parts and Components Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Type Market Share Analysis

7.2.2. By Demand Category Market Share Analysis

7.2.3. By Country Market Share Analysis

7.2.3.1. Germany Market Share Analysis

7.2.3.2. Spain Market Share Analysis

7.2.3.3. France Market Share Analysis

7.2.3.4. Russia Market Share Analysis

7.2.3.5. Italy Market Share Analysis

7.2.3.6. United Kingdom Market Share Analysis

7.2.3.7. Belgium Market Share Analysis

7.2.3.8. Rest of Europe & CIS Market Share Analysis

7.3. Europe & CIS: Country Analysis

7.3.1. Germany Automotive Parts and Components Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Type Market Share Analysis

7.3.1.2.2. By Demand Category Market Share Analysis

7.3.2. Spain Automotive Parts and Components Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Type Market Share Analysis

7.3.2.2.2. By Demand Category Market Share Analysis

7.3.3. France Automotive Parts and Components Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Type Market Share Analysis

7.3.3.2.2. By Demand Category Market Share Analysis

7.3.4. Russia Automotive Parts and Components Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Type Market Share Analysis

7.3.4.2.2. By Demand Category Market Share Analysis

7.3.5. Italy Automotive Parts and Components Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Type Market Share Analysis

7.3.5.2.2. By Demand Category Market Share Analysis

7.3.6. United Kingdom Automotive Parts and Components Market Outlook

7.3.6.1. Market Size & Forecast

7.3.6.1.1. By Value

7.3.6.2. Market Share & Forecast

7.3.6.2.1. By Type Market Share Analysis

7.3.6.2.2. By Demand Category Market Share Analysis

7.3.7. Belgium Automotive Parts and Components Market Outlook

7.3.7.1. Market Size & Forecast

7.3.7.1.1. By Value

7.3.7.2. Market Share & Forecast

7.3.7.2.1. By Type Market Share Analysis

7.3.7.2.2. By Demand Category Market Share Analysis

8. North America Automotive Parts and Components Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Type Market Share Analysis

8.2.2. By Demand Category Market Share Analysis

8.2.3. By Country Market Share Analysis

8.2.3.1. United States Market Share Analysis

8.2.3.2. Canada Market Share Analysis

8.2.3.3. Mexico Market Share Analysis

8.3. North America: Country Analysis

8.3.1. United States Automotive Parts and Components Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Type Market Share Analysis

8.3.1.2.2. By Demand Category Market Share Analysis

8.3.2. Canada Automotive Parts and Components Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Type Market Share Analysis

8.3.2.2.2. By Demand Category Market Share Analysis

8.3.3. Mexico Automotive Parts and Components Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Type Market Share Analysis

8.3.3.2.2. By Demand Category Market Share Analysis

9. South America Automotive Parts and Components Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Type Market Share Analysis

9.2.2. By Demand Category Market Share Analysis

9.2.3. By Country Market Share Analysis

9.2.3.1. Brazil Market Share Analysis

9.2.3.2. Colombia Market Share Analysis

9.2.3.3. Argentina Market Share Analysis

9.2.3.4. Rest of South America Market Share Analysis

9.3. South America: Country Analysis

9.3.1. Brazil Automotive Parts and Components Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Type Market Share Analysis

9.3.1.2.2. By Demand Category Market Share Analysis

9.3.2. Colombia Automotive Parts and Components Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Type Market Share Analysis

9.3.2.2.2. By Demand Category Market Share Analysis

9.3.3. Argentina Automotive Parts and Components Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Type Market Share Analysis

9.3.3.2.2. By Demand Category Market Share Analysis

10. Middle East & Africa Automotive Parts and Components Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Type Market Share Analysis

10.2.2. By Demand Category Market Share Analysis

10.2.3. By Country Market Share Analysis

10.2.3.1. Turkey Market Share Analysis

10.2.3.2. Iran Market Share Analysis

10.2.3.3. Saudi Arabia Market Share Analysis

10.2.3.4. UAE Market Share Analysis

10.2.3.5. Rest of Middle East & Africa Market Share Analysis

10.3. Middle East & Africa: Country Analysis

10.3.1. Turkey Automotive Parts and Components Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Type Market Share Analysis

10.3.1.2.2. By Demand Category Market Share Analysis

10.3.2. Iran Automotive Parts and Components Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Type Market Share Analysis

10.3.2.2.2. By Demand Category Market Share Analysis

10.3.3. Saudi Arabia Automotive Parts and Components Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Type Market Share Analysis

10.3.3.2.2. By Demand Category Market Share Analysis

10.3.4. UAE Automotive Parts and Components Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Type Market Share Analysis

10.3.4.2.2. By Demand Category Market Share Analysis

11. SWOT Analysis

11.1. Strength

11.2. Weakness

11.3. Opportunities

11.4. Threats

12. Market Dynamics

12.1. Market Drivers

12.2. Market Challenges

13. Market Trends and Developments

14. Competitive Landscape

14.1. Company Profiles (Up to 10 Major Companies)

14.1.1. Robert Bosch GmbH

14.1.1.1. Company Details

14.1.1.2. Key Products Offered

14.1.1.3. Financials (As Per Availability)

14.1.1.4. Recent Developments

14.1.1.5. Key Management Personnel

14.1.2. Denso Corporation

14.1.2.1. Company Details

14.1.2.2. Key Products Offered

14.1.2.3. Financials (As Per Availability)

14.1.2.4. Recent Developments

14.1.2.5. Key Management Personnel

14.1.3. Continental AG

14.1.3.1. Company Details

14.1.3.2. Key Products Offered

14.1.3.3. Financials (As Per Availability)

14.1.3.4. Recent Developments

14.1.3.5. Key Management Personnel

14.1.4. ZF Friedrichshafen AG

14.1.4.1. Company Details

14.1.4.2. Key Products Offered

14.1.4.3. Financials (As Per Availability)

14.1.4.4. Recent Developments

14.1.4.5. Key Management Personnel

14.1.5. Hyundai Motor Group

14.1.5.1. Company Details

14.1.5.2. Key Products Offered

14.1.5.3. Financials (As Per Availability)

14.1.5.4. Recent Developments

14.1.5.5. Key Management Personnel

14.1.6. Aisin Corporation

14.1.6.1. Company Details

14.1.6.2. Key Products Offered

14.1.6.3. Financials (As Per Availability)

14.1.6.4. Recent Developments

14.1.6.5. Key Management Personnel

14.1.7. Magna International Inc

14.1.7.1. Company Details

14.1.7.2. Key Products Offered

14.1.7.3. Financials (As Per Availability)

14.1.7.4. Recent Developments

14.1.7.5. Key Management Personnel

14.1.8. Valeo

14.1.8.1. Company Details

14.1.8.2. Key Products Offered

14.1.8.3. Financials (As Per Availability)

14.1.8.4. Recent Developments

14.1.8.5. Key Management Personnel

14.1.9. Valeo

14.1.9.1. Company Details

14.1.9.2. Key Products Offered

14.1.9.3. Financials (As Per Availability)

14.1.9.4. Recent Developments

14.1.9.5. Key Management Personnel

14.1.10. Yazaki Group

14.1.10.1. Company Details

14.1.10.2. Key Products Offered

14.1.10.3. Financials (As Per Availability)

14.1.10.4. Recent Developments

14.1.10.5. Key Management Personnel

15. Strategic Recommendations

15.1. Key Focus Areas

15.1.1. Target Regions & Countries

15.1.2. Target By Type

15.1.3. Target Demand Category

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What is the market size of the Global Automotive Parts and Components Market in 2022?

The market size of the Global Automotive Parts and Components Market reached USD 553.2 billion in 2022.

Which is the dominant segment By Type in the Global Automotive Parts and Components Market in forecast years?

The Driveline and Powertrain segment indeed holds a dominant position within the Global Automotive Parts and Components Market. This segment encompasses a crucial array of components that contribute to a vehicle's performance, efficiency, and overall driving experience. Driveline and Powertrain components play a vital role in transmitting power from the engine to the wheels, influencing factors such as acceleration, stability, and fuel efficiency.

Which is the dominant region in the Global Automotive Parts and Components Market?

The Asia-Pacific region plays a pivotal role in the Global Automotive Parts and Components Market. Asia-Pacific boasts a robust and well-established manufacturing infrastructure, making it a major hub for automotive production. Countries like China, Japan, South Korea, and India have become global leaders in manufacturing various automotive parts and components.

What are the major drivers for the Global Automotive Parts and Components Market?

Rapid innovations in materials, electronics, and connectivity are fostering the demand for advanced components such as electric drivetrains, sensors, and infotainment systems and the transition to electric and hybrid vehicles is driving the need for components like batteries, electric motors, and lightweight materials, promoting efficiency and environmental consciousness

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Srishti Verma

Business Consultant

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Press Release

Automotive Parts and Components Market to Grow with a CAGR of 6.7% through 2028

Oct, 2023

The transition to electric and hybrid vehicles and the ongoing Technological Advancements are the factors driving Global Automotive Parts and Components Market in the forecast period.

Automotive Parts and Components Market Segmented By Type (Driveline and Powertrain, Interiors and Exteriors, Electronics, Bodies & Chassis, Tires, and Others), By Demand Category (OEM, Replacement), By Regional, By Competition Forecast & Opportunities 2018-2028F

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