Robert Bosch GmbH, DENSO CORPORATION, Continental AG, ZF Friedrichshafen AG, Hyundai Motor Group, Aisin Corporation, Magna International Inc., Valeo, Lear Corporation, Yazaki Group, Tenneco Inc., Sumitomo Electric Industries, Ltd., Akebono Brake Industry Co., Ltd., Panasonic Holdings Corporation, Faurecia S.E., and Marelli Holdings Co., Ltd, among others, are the major players in the global auto parts manufacturing market.
The global auto parts manufacturing market reached a value of about USD 701.57 billion in 2023. The market is assessed to grow at a CAGR of 6.1% in the forecast period of 2024-2032 to reach around USD 1197.41 billion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the growing research and innovations in the automotive sector.
The increasing demand for vehicles and a surge in the sale of hybrid electric vehicles are propelling the global auto parts manufacturing market growth. The improving living standards, coupled with the growing middle-class population across emerging economies, have been fuelling the demand for passenger cars.
The steady growth of the automotive aftermarket is another crucial factor propelling the auto parts manufacturing market demand. Car owners are also attempting to enhance the durability of vehicles, leading to an expansion of auto parts manufacturing aftermarket.
An increasing number of older cars on the road, the growing intricacy of automotive components, and a swift transition towards fuel-efficient automobiles are crucial trends aiding the market for auto parts manufacturing. In addition, auto part manufacturers are making consistent efforts to modernise components in order to cope with the next-generation digitalised requirements in a car.
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Robert Bosch GmbH is a leading engineering company which supplies high-end technology and services. The company innovates smart homes, Industry 4.0, and connected mobility. The product portfolio of the company includes home appliances, power tools, garden tools, HVAC, and measuring tools, among others. It also offers a wide range of automotive parts and components which find application in 2 and 3-wheelers, passenger cars, and commercial vehicles, among others.
|Headquarters:||Headquarters: Aichi, Japan|
DENSO CORPORATION is an automotive parts manufacturing company which has a global network covering regions such as the Asia Pacific, Europe, and North America, among others. Its automotive parts portfolio includes thermal management and air conditioning systems, power train systems, safety and cockpit systems, and automotive service parts and accessories, among others. This company aims at protecting the environment by reducing accidents and advancing technology management.
|Headquarters:||Lower Saxony, Germany|
Continental AG is a company which develops pioneering technologies for sustainable and connected mobility of people and their belongings. The company offers services and solutions related to electric mobility, car infotainment, and safety technology, among others. It also specialises in tyres, brake systems, and several automotive parts of the interior and exterior vehicle systems.
ZF Friedrichshafen AG is a global technology company which manufactures and supplies components for passenger cars, commercial automobiles, and several other mobility solutions in the industrial sector. ZF Friedrichshafen AG also develops drivelines, chassis, and safety systems for trucks, buses, and fleets, among other types of vehicles. ZF Friedrichshafen AG also offers transportation and mobility solutions for various start-ups.
|Headquarters:||Seoul, South Korea|
Hyundai Motor Group is a global corporation which has developed an impressive value chain in different fields such as automotive, construction, and BFSI, among others. This company has been shaping the mobility sector by innovating in the automotive field. The product portfolio of Hyundai Motor Group is vast, which includes fuel cell electric powertrains, battery electric powertrains, plug-in hybrids, hybrid powertrains, and petrol/diesel engines, among others. It is one of the leading car manufacturers and auto part suppliers across emerging economies.
Aisin Corporation is an automotive manufacturing company which aims to provide safety, comfort, and convenience in the automotive sector by developing top-notch automotive parts and life and energy-related products. The company is facilitating various technological advancements to bring carbon neutrality, digitalise the automotive sector, and enhance production engineering. Aisin Corporation produces and supplies mobility solutions including eAxle, hybrid transmission, automated parking systems, cooperative regenerative brake systems, power sliding door systems, and sunroofs, among others.
Magna International Inc is a leading automaker which develops technologies, systems, and solutions to bolster the safety of an automobile. The company offers a wide range of automotive components, along with engineered automobile solutions. The product portfolio of this company includes body exterior and structures, high voltage electrified products, hybrid powertrain technologies, control modules, mechatronics, and automated driving systems, among others.
Valeo is a global automotive supplier which provides different components to automakers and aftermarket players. The company is revolutionising the automotive sector by working on four domains, i.e, electrification, assistance systems, life-on-board, and lighting. The vast product portfolio of the company includes exhaust gas sensor, electric starter and restarter, telematics unit for mainstream applications, and vehicle control unit (VCU), among others.
|Headquarters:||Michigan, United States|
Lear Corporation is a leading automotive technology developing company which specialises in seating and E-systems. This company provides its end-users with full electrical distribution systems, connection systems, electronics, and connectivity modules, among others. Through its automotive solutions, Lear Corporation offers electrification, connectivity, and software technology to the cars in order to bolster the comfort and safety of the passengers.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.