Market Overview:

The global auto parts manufacturing market is expected to exhibit a CAGR of around 3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Auto parts are the different components of the vehicle body that are utilized in the production of an automobile. They generally include motors and engines, braking systems, steering and suspension components, trimmers, and electronics. Auto parts manufacturing refers to the factory-production of these parts in bulk by vehicle production companies, sole traders, and partnered organizations that produce motor vehicles. The auto parts manufacturing process consists of supplying the parts and accessories by the manufacturers to original equipment manufacturers (OEMs) for the complete assembly of motor vehicles. Apart from this, auto parts manufacturing also encompasses producing spare or replacement parts in OEM dealerships and aftermarket.

Auto Parts Manufacturing Market Trends:

The market is primarily driven by the flourishing automotive industry. This can be attributed to the considerable rise in the production and repair of vehicles, along with the rapid digitization of automotive components. In line with this, with the escalating adoption of electric vehicles (EVs) among the masses, there has been a rising demand for new and innovative auto parts, which, in turn, is augmenting the market growth. Also, the implementations of stringent vehicle emission regulations by the governments of numerous countries have resulted in the manufacturing of effective and environmentally sustainable automobile parts, thereby providing an impetus to the market. The market is further driven by the rapidly increasing scrapping levels of motor vehicles and engines in an attempt to boost the demand for original equipment engines, which, in turn, is leading to a higher product uptake. Some of the other factors contributing to the market include the growing popularity of vehicle modifications and hybrid engines, extensive research and development (R&D) activities conducted by key players, and inflating disposable income levels of individuals.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global auto parts manufacturing market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component type, sales channel and vehicle type.

Breakup by Component Type:

• Battery
• Cooling System
  • Compressor
  • Radiator
  • Pump
  • Thermostat
• Underbody Components
  • Brake
  • Exhaust
• Engine Components
  • Starter
  • Pump
  • Engine
  • Alternator
• Automotive Filter
• Lighting Components
• Electrical Components
  • Ignition Coil
  • Ignition Switch
  • Spark and Glow Plug
• Others
   

Breakup by Sales Channel:

• OEM
• Aftermarket
   

Breakup by Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Aisin Corporation, Akebono Brake Industry Co. Ltd., Brembo S.p.A., Continental AG, DENSO Corporation, Faurecia SE, General Motors Company, Magna International Inc., Marelli Holdings Co. Ltd., Robert Bosch GmbH, Schaeffler AG and Valeo.

Report Coverage:

Key Questions Answered in This Report:

• How has the global auto parts manufacturing market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global auto parts manufacturing market?
• What are the key regional markets?
• What is the breakup of the market based on the component type?
• What is the breakup of the market based on the sales channel?
• What is the breakup of the market based on the vehicle type?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global auto parts manufacturing market and who are the key players?
• What is the degree of competition in the industry?