Auto Parts Manufacturing Market Growth, Size, Trends, Revenue, challenges and Future Outlook
Auto Parts Manufacturing Market Size- By Component, By Vehicle Type, By Sales Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Sep-2023 | Report ID: AMIN23139 | Pages: 1 - 217 | Formats*: |
| Category : Automotive & Transportation | |||
Auto Parts Manufacturing Market Introduction and Overview
According to SPER Market Research, the Global Auto Parts Manufacturing Market is estimated to reach USD 1284.99 billion by 2033 with a CAGR of 6.47%.
The report includes an in-depth analysis of the Global Auto Parts Manufacturing Market, including market size and trends, product mix, distribution channels, and supplier analysis. The process of creating components and parts that are utilised in the assembling of vehicles is referred to as auto parts manufacturing. These components are essential to the efficient operation and performance of vehicles. Manufacturers of auto components are in charge of creating high-quality parts that adhere to the exacting performance and safety standards established by the automobile industry.
- Collaboration between Auto Parts Manufacturers and Technology Companies: To create cutting-edge solutions for connected and autonomous vehicles, auto parts manufacturers are developing strategic alliances with tech firms. These partnerships seek to bring together cutting-edge technology like artificial intelligence, machine learning, and data analytics with automotive experience.
- Expansion into Emerging Markets: The presence of auto parts makers is growing in emerging countries, particularly in Asia Pacific and Latin America. Due to expanding vehicle sales, rising disposable incomes, and advantageous governmental regulations, these locations have a tremendous potential for growth.
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Auto Parts Manufacturing Market Market Opportunities and Challenges
- Opportunities: Electric Vehicle Revolution: The market for electric vehicles is expanding quickly, which offers considerable opportunities for suppliers of auto parts. As more people switch to EVs, specialised parts and infrastructure are required. These include batteries, electric motors, charging stations, and power management systems.
- Increasing Focus on Autonomous Vehicles: An increasing amount of attention is being paid to autonomous vehicles, which presents new business potential for suppliers of auto parts. Advanced sensor systems, control systems, and software are needed for these vehicles, which increases the demand for specialised parts and technology.
- Challenges: Price Volatility of Raw Materials: Steel, aluminium, rubber, and plastics are major raw materials used in the production of vehicle parts. The profitability of producers may be impacted by fluctuations in the cost of these resources, and maintaining consistent prices for end users may become difficult.
- Safety Standards and Stringent Regulations: Auto part makers are required to abide by the strict rules and safety requirements set forth by the numerous regulatory organisations. It frequently takes large investments in testing, compliance procedures, and research & development to meet these criteria.
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Market Competitive Landscape
The manufacturing of auto parts is a fiercely competitive industry, with many national and international businesses striving for market dominance. The market exhibits a moderate level of fragmentation, with several major players, including Aisin Corporation, Akebono Brake Industry Co., Ltd., Continental AG, ZF, DENSO CORPORATION, Faurecia S.E., Friedrichshafen AG, Hyundai Motor Group, Lear Corporation, Magna International Inc., Marelli Holdings Co., Ltd, Panasonic Holdings Corporation, Robert Bosch GmbH, Sumitomo Electric Industries, Ltd., Tenneco Inc., Valeo, Yazaki Group, Others. Original equipment manufacturers (OEMs) and makers of specialty car parts are important industry participants. To achieve a competitive edge in the market, these businesses concentrate on product innovation, technological improvements, strategic collaborations, and mergers and acquisitions.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Component, By Vehicle Type, By Sales Channel |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | Aisin Corporation, Akebono Brake Industry Co., Ltd., Continental AG, ZF, DENSO CORPORATION, Faurecia S.E., Friedrichshafen AG, Hyundai Motor Group, Lear Corporation, Magna International Inc., Marelli Holdings Co., Ltd, Panasonic Holdings Corporation, Robert Bosch GmbH, Sumitomo Electric Industries, Ltd., Tenneco Inc., Valeo, Yazaki Group, Others |
COVID-19 Impact on Global Auto Parts Manufacturing Market
The market for auto parts manufacturing was significantly impacted by the Covid-19 outbreak. Production and sales fell as a result of supply chain interruptions, global lockdowns, and lower consumer expenditure on automobiles. The performance of the market as a whole was impacted by the temporary shutdown of manufacturing facilities and operational difficulties. Manufacturers of auto parts adapted to the shifting market conditions by putting safety measures in place, improving production procedures, and broadening their clientele. During the epidemic, demand for some auto parts, such those for electric and driverless vehicles, remained largely unchanged or even increased. The production of vehicle parts is anticipated to increase as economies grow stronger and immunisation campaigns advance.
Key Target Audience
- Automotive Aftermarket Suppliers
- Automotive Industry Associations
- Automotive Original Equipment Manufacturers (OEMs
- Distributors and Retailers
- Export and International Markets
- Repair and Service Centers
- Research and Development Centers
- Technology and Material Suppliers
- Others
Our in-depth analysis of the Auto Parts Manufacturing Market includes the following segments:
| By Component: |
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| By Vehicle Type: |
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| By Sales Channel: |
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Key Topics Covered in the Report
- Global Auto Parts Manufacturing Market Size (FY’2023-FY’2033)
- Overview of Global Auto Parts Manufacturing Market
- Segmentation of Global Auto Parts Manufacturing Market By Component (Automotive Filter, Battery, Chassis System, Cooling System, Electrical Components, Engine Components, Lighting Components, Underbody Components, Others)
- Segmentation of Global Auto Parts Manufacturing Market By Vehicle Type (Heavy Commercial Vehicles, Light Commercial Vehicles, Passenger Cars, Others)
- Segmentation of Global Auto Parts Manufacturing Market By Sales Channel (Aftermarket, OEM)
- Statistical Snap of Global Auto Parts Manufacturing Market
- Expansion Analysis of Global Auto Parts Manufacturing Market
- Problems and Obstacles in Global Auto Parts Manufacturing Market
- Competitive Landscape in the Global Auto Parts Manufacturing Market
- Impact of COVID-19 and Demonetization on Global Auto Parts Manufacturing Market
- Details on Current Investment in Global Auto Parts Manufacturing Market
- Competitive Analysis of Global Auto Parts Manufacturing Market
- Prominent Players in the Global Auto Parts Manufacturing Market
- SWOT Analysis of Global Auto Parts Manufacturing Market
- Global Auto Parts Manufacturing Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Auto Parts Manufacturing Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Auto Parts Manufacturing Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Auto Parts Manufacturing Market
7. Global Auto Parts Manufacturing Market, By Component (USD Million)
7.1. Global Auto Parts Manufacturing Market Value Share and Forecast, By Component, 2023-20337.2. Automotive Filter7.3. Battery7.4. Chassis System7.5. Cooling System
7.5.1. Compressor7.5.2. Pump7.5.3. Radiator7.5.4. Thermostat
7.6. Electrical Components
7.6.1. Ignition Coil7.6.2. Ignition Switch7.6.3. Spark and Glow Plug
7.7. Engine Components
7.7.1. Alternator7.7.2. Engine7.7.3. Pump7.7.4. Starter7.8. Lighting Components
7.9. Underbody Components
7.9.1. Brake Components7.9.2. Exhaust Components
7.10. Others
8. Global Auto Parts Manufacturing Market, By Vehicle Type (USD Million)
8.1. Global Auto Parts Manufacturing Market Value Share and Forecast, By Vehicle Type, 2023-20338.2. Heavy Commercial Vehicles8.3. Light Commercial Vehicles8.4. Passenger Cars8.5. Others
9. Global Auto Parts Manufacturing Market, By Sales Channel (USD Million)
9.1. Global Auto Parts Manufacturing Market Value Share and Forecast, By Sales Channel, 2023-20339.2. Aftermarket9.3. OEM
10. Global Auto Parts Manufacturing Market Forecast, 2019-2033 (USD Million)
10.1. Global Auto Parts Manufacturing Market Size and Market Share
11. Global Auto Parts Manufacturing Market, By Component, 2019-2033 (USD Million)
11.1. Global Auto Parts Manufacturing Market Size and Market Share By Component (2019-2026)11.2. Global Auto Parts Manufacturing Market Size and Market Share By Component (2027-2033)
12. Global Auto Parts Manufacturing Market, By Vehicle Type, 2019-2033 (USD Million)
12.1. Global Auto Parts Manufacturing Market Size and Market Share By Vehicle Type (2019-2026)12.2. Global Auto Parts Manufacturing Market Size and Market Share By Vehicle Type (2027-2033)
13. Global Auto Parts Manufacturing Market, By Sales Channel, 2019-2033 (USD Million)
13.1. Global Auto Parts Manufacturing Market Size and Market Share By Sales Channel (2019-2026)13.2. Global Auto Parts Manufacturing Market Size and Market Share By Sales Channel (2027-2033)
14. Global Auto Parts Manufacturing Market, By Region, 2019-2033 (USD Million)
14.1. Global Auto Parts Manufacturing Market Size and Market Share By Region (2019-2026)14.2. Global Auto Parts Manufacturing Market Size and Market Share By Region (2027-2033)14.3. Asia-Pacific
14.3.1. Australia14.3.2. China14.3.3. India14.3.4. Japan14.3.5. South Korea14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France14.4.2. Germany14.4.3. Italy14.4.4. Spain14.4.5. United Kingdom14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia14.5.2. United Arab Emirates14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada14.6.2. Mexico14.6.3. United States
14.7. Latin America
14.7.1. Argentina14.7.2. Brazil14.7.3. Rest of Latin America
15. Company Profile
15.1. Aisin Corporation
15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments
15.2. Akebono Brake Industry Co., Ltd.
15.2.1. Company details15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments
15.3. Continental AG, ZF
15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments
15.4. DENSO CORPORATION
15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments
15.5. Faurecia S.E.
15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments
15.6. Friedrichshafen AG
15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments
15.7. Lear Corporation
15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments
15.8. Magna International Inc.
15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments
15.9. Marelli Holdings Co., Ltd
15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments
15.10. Panasonic Holdings Corporation
15.10.1. Company details15.10.2. Financial outlook15.10.3. Product summary15.10.4. Recent developments
15.11. Robert Bosch GmbH
15.11.1. Company details15.11.2. Financial outlook15.11.3. Product summary15.11.4. Recent developments
15.12. Sumitomo Electric Industries, Ltd.
15.12.1. Company details15.12.2. Financial outlook15.12.3. Product summary15.12.4. Recent developments
15.13. Tenneco Inc.
15.13.1. Company details15.13.2. Financial outlook15.13.3. Product summary15.13.4. Recent developments
15.14. Valeo
15.14.1. Company details15.14.2. Financial outlook15.14.3. Product summary15.14.4. Recent developments
15.15. Techline Mfg
15.15.1. Company details15.15.2. Financial outlook15.15.3. Product summary15.15.4. Recent developments
15.16. Yazaki Group
15.16.1. Company details15.16.2. Financial outlook15.16.3. Product summary15.16.4. Recent developments
15.17. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
The key players in the market include Companies Covered Aisin Corporation, Akebono Brake Industry Co., Ltd., Continental AG, ZF, DENSO CORPORATION, Faurecia S.E., Friedrichshafen AG, Hyundai Motor Group, Lear Corporation, Magna International Inc., Marelli Holdings Co., Ltd, Panasonic Holdings Corporation, Robert Bosch GmbH, Sumitomo Electric Industries, Ltd., Tenneco Inc., Valeo, Yazaki Group, Others.
The process of creating components and parts that are utilised in the assembling of vehicles is referred to as auto parts manufacturing. These components are essential to the efficient operation and performance of vehicles.
Auto Parts Manufacturing Market is projected to reach USD 1284.99 billion by 2033, growing at a CAGR of 6.47% during the forecast period.
Auto Parts Manufacturing Market grew in market size from 2022. The Market is expected to reach USD 1284.99 billion by 2033, at a CAGR of 6.47% during the forecast period.
Auto Parts Manufacturing Market CAGR of 6.47% during the forecast period.
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Auto Parts Manufacturing Market size is USD 1284.99 billion from 2023 to 2033.
Auto Parts Manufacturing Market Segment is covered By Component, By Vehicle Type, By Sales Channel.
The Europe is anticipated to have the highest market share in the Auto Parts Manufacturing Market .
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