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Mexico Auto Parts Manufacturing Market Size, Share, Growth: By Component Type: Battery, Cooling System, Underbody Components, Engine Components, Automotive Filter, Lighting Components, Electrical Components, Others; By Vehicle Type: Passenger Cars, Others; By Sales Channel; Regional Analysis; Competitive Landscape; 2024-2032
Mexico Auto Parts Manufacturing Market Outlook
The Mexico auto parts manufacturing market size is projected to grow at a CAGR of 3.6% between 2024 and 2032. The market is being driven by the increasing foreign direct investments in the Mexico automotive sector.
Key Takeaways:
- Mexico is the 4th largest producer of auto parts in the world.
- Passenger cars are expected to constitute a major portion of the Mexico auto parts manufacturing market share.
- The demand for electric vehicle batteries is expected to increase significantly in the Mexico automotive market.
The resilient supply chain network for automotive parts in Mexico has prompted various international companies to relocate their operations to the country. Mexico is a key destination for Japanese foreign direct investment (FDI) and received a cumulative amount of $29.8 billion between 1999 to 2021, with the key investments being concentrated in the state of Guanajuato. This is prompting the Mexico auto parts manufacturing market expansion.
The United States-Mexico-Canada (free trade) agreement has set the minimum regional content requirement for automotive manufacturing at 75%, which is also expected to accelerate the Mexico auto parts manufacturing market growth.
The global shift towards electric vehicles is expected to result in significant development of the auto parts manufacturing market in Mexico. In February 2023, global automotive giant BMW announced an investment of $866 million in San Luis Potosi to manufacture high-voltage electric vehicle batteries and produce Neue Klasse car models. Increasing investments in new vehicle technologies is one of the key Mexico auto parts manufacturing market trends.
By 2030, Mexico is expected to account for more than 60% of the demand for electric vehicles in Latin America, which is expected to further drive the Mexico auto parts manufacturing market growth. An increasing number of American and European companies are nearshoring their operations to Mexico to benefit not only from high consumer demand but also from reduced production and operational costs, further driving the market expansion.
Market Segmentation
Mexico Auto Parts Manufacturing Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Component Type
- Battery
- Cooling System
- Underbody Components
- Engine Components
- Automotive Filter
- Lighting Components
- Electrical Components
- Others
Market Breakup by Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Others
Market Breakup by Sales Channel
- OEM
- Aftermarket
Market Breakup by Region
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
Key Mexico auto parts manufacturing market players are engaged in upscaling their production capacities to meet the growing demand for electric vehicles in foreign markets and benefit from the low cost of operations in Mexico.
The key market players are Robert Bosch GmbH, Continental AG, Schaeffler AG, Marelli Holdings Co., Ltd., ZF Friedrichshafen AG, Aisin Corporation, Hyundai Motor Group, Valeo SE, YAZAKI Corporation, and Akebono Brake Industry Co., Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component Type |
|
| Breakup by Vehicle Type |
|
| Breakup by Sales Channel |
|
| Breakup by Region |
|
| Market Dynamics |
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| 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 Market 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
7 Opportunities and Challenges in the Market
8 Latin America Auto Parts Manufacturing Market Overview
8.1 Key Industry Highlights
8.2 Latin America Auto Parts Manufacturing Historical Market (2018-2023)
8.3 Latin America Auto Parts Manufacturing Market Forecast (2024-2032)
8.4 Latin America Auto Parts Manufacturing Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Others
9 Mexico Auto Parts Manufacturing Market Overview
9.1 Key Industry Highlights
9.2 Mexico Auto Parts Manufacturing Historical Market (2018-2023)
9.3 Mexico Auto Parts Manufacturing Market Forecast (2024-2032)
10 Mexico Auto Parts Manufacturing Market by Component Type
10.1 Battery
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Cooling System
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Underbody Components
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Engine Components
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Automotive Filter
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Lighting Components
10.6.1 Historical Trend (2018-2023)
10.6.2 Forecast Trend (2024-2032
10.7 Electrical Components
10.7.1 Historical Trend (2018-2023)
10.7.2 Forecast Trend (2024-2032)
10.8 Others
11 Mexico Auto Parts Manufacturing Market by Vehicle Type
11.1 Passenger Cars
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Light Commercial Vehicles
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Heavy Commercial Vehicles
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 Mexico Auto Parts Manufacturing Market by Sales Channel
12.1 OEM
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Aftermarket
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Mexico Auto Parts Manufacturing Market by Region
13.1 Baja California
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Northern Mexico
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 The Bajío
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Central Mexico
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Pacific Coast
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Yucatan Peninsula
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
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 Buyers Powers
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 Continental AG
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 Schaeffler 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 Marelli Holdings Co., Ltd.
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 ZF Friedrichshafen AG
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 Hyundai Motor Group
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 SE
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 YAZAKI 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 Akebono Brake Industry Co., Ltd.
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 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Auto Parts Manufacturing Market: Key Industry Highlights, 2018 and 2032
2. Mexico Auto Parts Manufacturing Market: Key Industry Highlights, 2018 and 2032
3. Mexico Auto Parts Manufacturing Historical Market: Breakup by Component Type (USD Million), 2018-2023
4. Mexico Auto Parts Manufacturing Market Forecast: Breakup by Component Type (USD Million),
5. Mexico Auto Parts Manufacturing Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
6. Mexico Auto Parts Manufacturing Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
7. Mexico Auto Parts Manufacturing Historical Market: Breakup by Sales Channel (USD Million), 2018-2023
8. Mexico Auto Parts Manufacturing Market Forecast: Breakup by Sales Channel (USD Million), 2024-2032
9. Mexico Auto Parts Manufacturing Historical Market: Breakup by Region (USD Million), 2018-2023
10. Mexico Auto Parts Manufacturing Market Forecast: Breakup by Region (USD Million), 2024-2032
11. Mexico Auto Parts Manufacturing Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 3.6% between 2024 and 2032.
The different sales channels in the market include OEM and aftermarket.
The different vehicle types in the market passenger cars, light commercial vehicles, and heavy commercial vehicles, among others.
The different component types considered in the market report are battery, cooling system, underbody components, engine components, automotive filter, lighting components, and electrical components, among others.
The major regions in the market include Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.
The key market players are Robert Bosch GmbH, Continental AG, Schaeffler AG, Marelli Holdings Co., Ltd., ZF Friedrichshafen AG, Aisin Corporation, Hyundai Motor Group, Valeo SE, YAZAKI Corporation, Akebono Brake Industry Co., Ltd., among others.
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