The new report by Expert Market Research titled, ‘Global Auto Parts Manufacturing Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global auto parts manufacturing market, assessing the market based on its segments like components, sales channels, vehicle types, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): USD 380 Billion
• Forecast CAGR (2020-2025): 3%
• Forecast Market Size (2025): USD 453 Billion
The global auto parts manufacturing market is being driven by the increase in the production and sales of vehicles and passenger cars and the growing digitisation and automation of systems within the automotive industry. The increasing utilisation of automotive parts such as train parts, body parts and trimmers, electronics, braking systems, motors, and engine components, steering, suspension components, and more have significantly aided the industry growth. The market growth is also further supported by the innovations in the field and the rising demand for luxury cars among consumers.
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Industry Definition and Major Segments
The auto parts manufacturing industry consists of manufacturing mechanical parts for building a machine, such as cars, industrial machinery, and more. In 2019, the Asia Pacific sector was noted to be one of the most significant markets for auto parts manufacturing. New and upcoming innovations in the automotive parts are likely to boost automotive sales and the market growth within the Asia Pacific region.
On the basis of components, the market can be segmented into:
• Cooling System
• Underbody Components
• Brake Components
• Exhaust Components
• Engine Components
• Automotive Filter
• Lighting Components
• Electrical Components
• Ignition Coil
• Ignition Switch
• Spark and Glow Plug
By sales channel, the industry can be bifurcated into:
The market can be segmented on the basis of vehicle type into:
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
On the basis of major regions, the market can be divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
With new innovations being made in the automotive industry, the auto parts manufacturing market has seen a significant growth. One such innovation in the auto parts manufacturing market is the introduction of lightweight auto parts. These parts help in maintaining the vehicle’s fuel efficiency by stressing the engine less and increasing output, which is both, better and environmentally friendly, as compared to all its predecessor.
Key Market Players
The major players in the market are Robert Bosch GmbH, Denso Corporation (OTCMKTS: DNZOY), General Motors Company (NYSE: GM), Valeo SA (OTCMKTS: VLEEY), Continental AG (OTCMKTS: CTTAY), Schaeffler AG (OTCMKTS: SFFLY), Marelli Holdings Co., Ltd., and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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