NEW YORK, Jan. 5, 2024 /PRNewswire/ — The auto parts market is estimated to grow by USD 393.22 billion from 2022 to 2027, growing at a CAGR of 3.62%. The auto parts market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer auto parts market are 3M Co., AISIN CORP., Akebono Brake Industry Co. Ltd., Autoliv Inc., BorgWarner Inc., Brembo Spa, General Motors Co., HELLA GmbH and Co. KGaA, Hyundai Motor Co., Lear Corp., Magna International Inc., Marelli Holdings Co. Ltd., Robert Bosch GmbH, Schaeffler AG, Stellantis NV, Tenneco Inc., The Goodyear Tire and Rubber Co., Toyota Motor Corp., Valeo SA, and ZF Friedrichshafen AG.
Technavio has announced its latest market research report titled Global Auto Parts Market 2023-2027
The report provides a full list of key companies, their strategies, and the latest developments. Download Free Sample before buying
Company Offering:
3M Co – The company offers auto parts such as Pin 14 with 3M Acrylic Foam Tape 5392, 3M Wheel Weight TN6020, and Rain Sensor Brackets with 3M Die Cuttable Tape DC2008.
AISIN CORP. – The company offers auto parts such as water pump covers, cam housing, crankcases, oil filter bracket, and oil pan.
Akebono Brake Industry Co. Ltd. – The company offers auto parts such as disc brakes, master cylinders, and disc brake pads for motorcycles and scooters.
For details on companies and their offerings – Buy a report!
Based on Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa.
APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Another region offering significant growth opportunities is North America. Demand for passenger cars in the Region is projected to be driven by the continuing growth of the oil and gas, a wide variety of agriculture sectors, an intensive mining industry as well as increased manufacturing industries throughout the region.
Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.
Impactful driver- Increased usage of technological advancement in the global auto parts market
Key Trend – Increasing M&A, and partnership
Major Challenges – Online retailers challenging traditional aftermarket retailers
Market Segmentation
By End-user, the market is classified into OEM and aftermarket. The OEM segment is estimated to witness significant growth during the forecast period. OEMs are defined as those that produce the original automotive components such as brakes, steering, and other parts for new vehicles. For compatibility with the exact specification of the vehicle, OEM components are produced by a particular manufacturer in such a condition that they fit perfectly into this space. As a result, they are preferred by automobile manufacturers around the world.
Technavio Research experts have provided more insights on the market share of segments – View the Free Sample Report
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Auto Parts Market Scope |
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Report Coverage |
Details |
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Historic period |
2017-2021 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.62% |
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YoY growth 2022-2023 (%) |
2.98 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Key countries |
US, China, Japan, Germany, and UK |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact US:
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SOURCE Technavio
