Global Motor Vehicle Parts Market Size, Forecasts, And Opportunities
Learn about the global motor vehicle parts market through The Business Research Company, which provides information on motor vehicle parts market size, motor vehicle parts market drivers and restraints, motor vehicle parts market players, the COVID-19 impact on the motor vehicle parts market, and more.
The global motor vehicle parts market size is expected to grow from $2,336.07 billion in 2021 to $2,572.01 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The global motor vehicle part market is expected to grow to $3,638.77 billion in 2026 at a CAGR of 9.1%.
Advances in technology are expected to be a continued driver of motor vehicle parts manufacturing market growth in the forecast period.
Request A Sample For The Global Motor Vehicle Parts Market Report:
The motor vehicle parts market consists of sales of motor vehicle parts and related services by entities (organizations, sole traders, and partnerships) that produce motor vehicle gasoline engines and engine parts, motor vehicle electrical and electronic equipment, motor vehicle steering, and suspension components (except springs), motor vehicle brake systems, motor vehicle transmission, and power train parts, motor vehicle seating and interior trim, motor vehicle metal stampings, and other motor vehicle parts and accessories. This market includes sales of rebuilt motor vehicle parts. This market includes sales of both new and used vehicles.
Global Motor Vehicle Parts Market Segments Include:
By Type: Motor Vehicle Body, Stamped Metal and Other Parts, Motor Vehicle Engine, Power Train and Parts, Motor Vehicle Electrical and Electronic Equipment, Steering Suspension, and Interiors
By Application: Passenger Vehicle, Commercial Vehicle
By End-Use: OEM, Aftermarket
Subsegments Covered: Motor Vehicle Body, Stamped Metal, Other Parts, Vehicle Engine and Engine Parts, Power Train and Power Train Parts, Motor Vehicle Electrical and Electronic Equipment, Motor Vehicle Steering and Suspension Components (except Spring), Motor Vehicle Seating and Interior Trim
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the motor vehicle parts market in 2021.
The demand for electric vehicles is increasing rapidly and this is expected to disrupt the automotive value chain. Engines of electric vehicles are less complicated than their gasoline counterparts, thus requiring fewer replacement parts over the lifetime of a car. Electrification of cars also means that components such as air-conditioning units, water pumps, brakes, and steering systems will need to be adapted and designed to meet the requirements of electric cars. Since electric vehicles are manufactured with one-third the number of internal combustion engine (ICE) cars’ components, less collaboration will be required between an automaker and parts suppliers. This will decrease vehicle-to-component calibration, thus allowing parts suppliers to develop products with more autonomy.
TBRC’s motor vehicle parts market report covers:
Major Market Players: EXOR Group, Denso Corp, General Motors Co, Robert Bosch GmbH, Aisin Seiki Co Ltd, Continental AG, Fiat Chrysler Automobiles NV, Magna International Inc, Toyota Motor Corp, and SAIC Motor Co ltd.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Motor Vehicle Parts Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides motor vehicle parts market overviews, analyzes and forecasts market size, share, motor vehicle parts market players, motor vehicle parts market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s motor vehicle parts market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports From The Business Research Company:
Interested To Know More About The Business Research Company?
The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
Read more about us at https://www.thebusinessresearchcompany.com/about-the-business-research-company.aspx
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Follow us on LinkedIn: https://in.linkedin.com/company/the-business-research-company
Follow us on Twitter: https://twitter.com/tbrc_info
Check out our Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: