Reports
Global Auto Parts Manufacturing Market Share, Size, Analysis, Growth, Forecast: By Component: Battery, Cooling System, Underbody Components, Engine Components, Automotive Filter, Lighting Components, Electrical Components, Others; By Sales Channel; By Vehicle Type; Regional Analysis; Competitive Landscape; 2018-2028
Global Auto Parts Manufacturing Market Outlook
The global auto parts manufacturing market reached a value of about USD 2265.9 billion in 2022. The industry is further expected to grow at a CAGR of 3.2% in the forecast period of 2023-2028 to reach a value of around USD 2737.28 billion by 2028.
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The Asia Pacific to Present Lucrative Growth Opportunities for the Auto Parts Manufacturing Industry
The Asia Pacific emerged as a significant market for auto parts manufacturing in 2020. The region is also anticipated to be a major global market in the forecast period as well, witnessing a robust growth rate. New technology applications in the field of producing automotive parts are expected to boost the automotive sales in the region. The regional market is being driven by an increase in the production and sales of vehicles and passenger cars and the digitisation of distribution systems for automotive components.
Governments around the globe also have stringent vehicle emission regulations for product manufacturers to manufacture environmentally sustainable and highly effective automobile products for both the domestic and international markets, which is likely to boost the market demand. In recent years, there have been considerable development in the automotive industry, with developing markets like China, India, and Brazil anticipated to boost market growth globally.
Auto Parts Manufacturing: Market Segmentation
Auto parts, such as transmission and power train parts, motors and engine components, body parts and trimmers, electronics, and braking systems, as well as steering and suspension components, are manufactured by various entities, which are then used in the production of automobiles.
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Based on component, the market can be divided into the following:
- Battery
- Cooling System
- Compressor
- Radiator
- Pump
- Thermostat
- Underbody Components
- Brake Components
- Exhaust Components
- Engine Components
- Starter
- Pump
- Engine
- Alternator
- Automotive Filter
- Lighting Components
- Electrical Components
- Ignition Coil
- Ignition Switch
- Spark and Glow Plug
- Others
On the basis of sales channel, the market can be segmented into:
- OEM
- Aftermarket
By vehicle type, the market can be divided into:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Others
The regional markets for auto parts manufacturing can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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New Innovations Bolstering the Market Growth of Auto Parts Manufacturing
The automotive industry is rapidly growing due to the introduction of new innovations, which is bolstering the growth of the auto parts manufacturing industry. Therefore, the key players are aligning their strategies to the prevalent trends in order to maintain competitiveness in such a dynamic environment. For example, the demand for auto parts manufacturing is expected to expand in the coming years by introducing the latest technology in automotive engine radiators. Leading industries are now planning to manufacture lightweight car parts to produce components, which are significantly lightweight and much more fuel-efficient than their predecessors. Owing to stricter environmental regulations leading to the replacements in motor cars and their engines, the amount of scrap is higher in developed countries compared to the developing world. Similarly, in developed countries, the use of new technologies and innovations in motors like hybrid motors is more prevalent than developing countries. The demand for manufacturing new vehicles with reduced consumption of fuel is stimulated by increasing government support with relatively stricter emission standards, resulting in the higher demand for automotive parts. These factors are expected to support the growth of the global market for auto parts manufacturing.
Key Industry Players in the Global Auto Parts Manufacturing Market
The report gives a detailed analysis of the following key players in the global auto parts manufacturing market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Robert Bosch GmbH
- Denso Corporation
- Continental AG
- ZF Friedrichshafen AG
- Hyundai Motor Group
- Aisin Corporation
- Magna International Inc.
- Valeo SA
- Lear Corporation
- YAZAKI Corporation
- Tenneco Inc.
- Sumitomo Electric Industries, Ltd.
- Faurecia SE
- Adient plc
- Panasonic Corporation
- Marelli Holdings Co., Ltd
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Component |
|
| Breakup by Sales Channel |
|
| Breakup by Vehicle Type |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Auto Parts Manufacturing Market Analysis
8.1 Key Industry Highlights
8.2 Global Auto Parts Manufacturing Historical Market (2018-2022)
8.3 Global Auto Parts Manufacturing Market Forecast (2023-2028)
8.4 Global Auto Parts Manufacturing Market by Component
8.4.1 Battery
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Cooling System
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.2.4 Breakup by Cooling System Type
8.4.2.4.1 Compressor
8.4.2.4.2 Radiator
8.4.2.4.3 Pump
8.4.2.4.4 Thermostat
8.4.3 Underbody Components
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.3.4 Breakup by Underbody Components Type
8.4.3.4.1 Brake Components
8.4.3.4.2 Exhaust Components
8.4.4 Engine Components
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.4.4 Breakup by Engine Component Type
8.4.4.4.1 Starter
8.4.4.4.2 Pump
8.4.4.4.3 Engine
8.4.4.4.4 Alternator
8.4.5 Automotive Filter
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Lighting Components
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2022)
8.4.6.3 Forecast Trend (2023-2028)
8.4.7 Electrical Components
8.4.7.1 Market Share
8.4.7.2 Historical Trend (2018-2022)
8.4.7.3 Forecast Trend (2023-2028)
8.4.7.4 Breakup by Electrical Components Type
8.4.7.4.1 Ignition Coil
8.4.7.4.2 Ignition Switch
8.4.7.4.3 Spark and Glow Plug
8.4.8 Others
8.5 Global Auto Parts Manufacturing Market by Sales Channel
8.5.1 OEM
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Aftermarket
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Auto Parts Manufacturing Market by Vehicle Type
8.6.1 Passenger Cars
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Light Commercial Vehicles
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Heavy Commercial Vehicles
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Others
8.7 Global Auto Parts Manufacturing Market by Region
8.7.1 North America
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
9 North America Auto Parts Manufacturing Market Analysis
9.1 Market by Component
9.2 Market by Sales Channel
9.3 Market by Vehicle Type
9.4 Market by Country
9.4.1 United States of America
9.4.1.1 Market Share
9.4.1.2 Historical Trend (2018-2022)
9.4.1.3 Forecast Trend (2023-2028)
9.4.2 Canada
9.4.2.1 Market Share
9.4.2.2 Historical Trend (2018-2022)
9.4.2.3 Forecast Trend (2023-2028)
10 Europe Auto Parts Manufacturing Market Analysis
10.1 Market by Component
10.2 Market by Sales Channel
10.3 Market by Vehicle Type
10.4 Market by Country
10.4.1 United Kingdom
10.4.1.1 Market Share
10.4.1.2 Historical Trend (2018-2022)
10.4.1.3 Forecast Trend (2023-2028)
10.4.2 Germany
10.4.2.1 Market Share
10.4.2.2 Historical Trend (2018-2022)
10.4.2.3 Forecast Trend (2023-2028)
10.4.3 France
10.4.3.1 Market Share
10.4.3.2 Historical Trend (2018-2022)
10.4.3.3 Forecast Trend (2023-2028)
10.4.4 Italy
10.4.4.1 Market Share
10.4.4.2 Historical Trend (2018-2022)
10.4.4.3 Forecast Trend (2023-2028)
10.4.5 Others
11 Asia Pacific Auto Parts Manufacturing Market Analysis
11.1 Market by Component
11.2 Market by Sales Channel
11.3 Market by Vehicle Type
11.4 Market by Country
11.4.1 China
11.4.1.1 Market Share
11.4.1.2 Historical Trend (2018-2022)
11.4.1.3 Forecast Trend (2023-2028)
11.4.2 Japan
11.4.2.1 Market Share
11.4.2.2 Historical Trend (2018-2022)
11.4.2.3 Forecast Trend (2023-2028)
11.4.3 India
11.4.3.1 Market Share
11.4.3.2 Historical Trend (2018-2022)
11.4.3.3 Forecast Trend (2023-2028)
11.4.4 ASEAN
11.4.4.1 Market Share
11.4.4.2 Historical Trend (2018-2022)
11.4.4.3 Forecast Trend (2023-2028)
11.4.5 South Korea
11.4.5.1 Market Share
11.4.5.2 Historical Trend (2018-2022)
11.4.5.3 Forecast Trend (2023-2028)
11.4.6 Australia
11.4.6.1 Market Share
11.4.6.2 Historical Trend (2018-2022)
11.4.6.3 Forecast Trend (2023-2028)
11.4.7 Others
12 Latin America Auto Parts Manufacturing Market Analysis
12.1 Market by Component
12.2 Market by Sales Channel
12.3 Market by Vehicle Type
12.4 Market by Country
12.4.1 Brazil
12.4.1.1 Market Share
12.4.1.2 Historical Trend (2018-2022)
12.4.1.3 Forecast Trend (2023-2028)
12.4.2 Argentina
12.4.2.1 Market Share
12.4.2.2 Historical Trend (2018-2022)
12.4.2.3 Forecast Trend (2023-2028)
12.4.3 Mexico
12.4.3.1 Market Share
12.4.3.2 Historical Trend (2018-2022)
12.4.3.3 Forecast Trend (2023-2028)
12.4.4 Others
13 Middle East and Africa Auto Parts Manufacturing Market Analysis
13.1 Market by Component
13.2 Market by Sales Channel
13.3 Market by Vehicle Type
13.4 Market by Country
13.4.1 Saudi Arabia
13.4.1.1 Market Share
13.4.1.2 Historical Trend (2018-2022)
13.4.1.3 Forecast Trend (2023-2028)
13.4.2 United Arab Emirates
13.4.2.1 Market Share
13.4.2.2 Historical Trend (2018-2022)
13.4.2.3 Forecast Trend (2023-2028)
13.4.3 Nigeria
13.4.3.1 Market Share
13.4.3.2 Historical Trend (2018-2022)
13.4.3.3 Forecast Trend (2023-2028)
13.4.4 South Africa
13.4.4.1 Market Share
13.4.4.2 Historical Trend (2018-2022)
13.4.4.3 Forecast Trend (2023-2028)
13.4.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Robert Bosch GmbH
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Denso Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Continental AG
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 ZF Friedrichshafen AG
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Hyundai Motor Group
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Aisin Corporation
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Magna International Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Valeo SA
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Lear Corporation
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 YAZAKI Corporation
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Tenneco Inc.
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Sumitomo Electric Industries, Ltd.
15.2.12.1 Company Overview
15.2.12.2 Product Portfolio
15.2.12.3 Demographic Reach and Achievements
15.2.12.4 Certifications
15.2.13 Faurecia SE
15.2.13.1 Company Overview
15.2.13.2 Product Portfolio
15.2.13.3 Demographic Reach and Achievements
15.2.13.4 Certifications
15.2.14 Adient plc
15.2.14.1 Company Overview
15.2.14.2 Product Portfolio
15.2.14.3 Demographic Reach and Achievements
15.2.14.4 Certifications
15.2.15 Panasonic Corporation
15.2.15.1 Company Overview
15.2.15.2 Product Portfolio
15.2.15.3 Demographic Reach and Achievements
15.2.15.4 Certifications
15.2.16 Marelli Holdings Co., Ltd
15.2.16.1 Company Overview
15.2.16.2 Product Portfolio
15.2.16.3 Demographic Reach and Achievements
15.2.16.4 Certifications
15.2.17 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Auto Parts Manufacturing Market: Key Industry Highlights, 2018 and 2028
2. Global Auto Parts Manufacturing Historical Market: Breakup by Component (USD Million), 2018-2022
3. Global Auto Parts Manufacturing Market Forecast: Breakup by Component (USD Million), 2023-2028
4. Global Auto Parts Manufacturing Historical Market: Breakup by Sales Channel (USD Million), 2018-2022
5. Global Auto Parts Manufacturing Market Forecast: Breakup by Sales Channel (USD Million), 2023-2028
6. Global Auto Parts Manufacturing Historical Market: Breakup by Vehicle Type (USD Million), 2018-2022
7. Global Auto Parts Manufacturing Market Forecast: Breakup by Vehicle Type (USD Million), 2023-2028
8. Global Auto Parts Manufacturing Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Auto Parts Manufacturing Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Auto Parts Manufacturing Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Auto Parts Manufacturing Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Auto Parts Manufacturing Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Auto Parts Manufacturing Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Auto Parts Manufacturing Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Auto Parts Manufacturing Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Auto Parts Manufacturing Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Auto Parts Manufacturing Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Auto Parts Manufacturing Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Auto Parts Manufacturing Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Auto Parts Manufacturing Market Structure
Key Questions Answered in the Report
In 2022, the global auto parts manufacturing market attained a value of nearly USD 2265.9 billion.
The market is projected to grow at a CAGR of 3.2% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 2737.28 billion by 2028.
The major drivers of the industry, such as the rising production and sales of vehicles, growing digitisation of distribution systems, and increasing technological advancements and innovations, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rising implementation of stringent vehicle emission regulations and the growing introduction of environmentally sustainable automobile products.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading components in the market are battery, cooling system, underbody components, engine components, automotive filter, lighting components, and electrical components, among others.
The major sales channels in the industry are OEM and aftermarket.
The significant vehicle types in the market are passenger cars, light commercial vehicles, and heavy commercial vehicles, among others.
The major players in the industry are Robert Bosch GmbH, Denso Corporation, Continental AG, ZF Friedrichshafen AG, Hyundai Motor Group, Aisin Corporation, Magna International Inc., Valeo SA, Lear Corporation, YAZAKI Corporation, Tenneco Inc., Sumitomo Electric Industries, Ltd., Faurecia SE, Adient plc, Panasonic Corporation, and Marelli Holdings Co., Ltd, among others.
Analyst Review
The global auto parts manufacturing market attained a value of USD 2265.9 billion in 2022, driven by the rising demand for passenger vehicles. Aided by the rapid technological advancements, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 3.2%. The market is projected to reach USD 2737.28 billion by 2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By component, the market is divided into battery, cooling system, underbody components, engine components, automotive filter, lighting components, and electrical components, among others. Based on sales channel, the market is bifurcated into OEM and aftermarket. On the basis of vehicle type, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles, among others. The major regional markets for auto parts manufacturing are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Robert Bosch GmbH, Denso Corporation, Continental AG, ZF Friedrichshafen AG, Hyundai Motor Group, Aisin Corporation, Magna International Inc., Valeo SA, Lear Corporation, YAZAKI Corporation, Tenneco Inc., Sumitomo Electric Industries, Ltd., Faurecia SE, Adient plc, Panasonic Corporation, and Marelli Holdings Co., Ltd, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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