The global demand for Auto Parts and Accessories Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
A component of an automobile is referred to as an auto part. A car's parts and accessories are installed to provide the best driving experience possible. Auto parts and accessories are classified as driveline & powertrain, interiors & exteriors, electronics, bodies & chassis, seating, lighting, wheel & tires, mirrors, closures, roof systems & modules. These are the accessories that keep the vehicle running smoothly and looking excellent. For the vehicle's smooth operation, automobiles now require many essential parts and other complementing accessories such as brake systems, windshield wipers, braking systems, and exhaust systems.
Market Dynamics
Government incentives, expanding regional demand, and easy raw material availability are essential drivers of light-duty vehicle growth, increasing demand for auto parts and accessories. The government's enhanced assistance in producing new vehicles with lower fuel consumption is spurring demand for auto parts and accessories, resulting in market growth. Furthermore, manufacturers are influenced by increased demand for SLI batteries due to an increased focus on innovation in automotive parts and increased demand for filters from diesel engine vehicles. Automobile manufacturers are also said to be concentrating on high-performance automobiles that can perform well in any terrain or climate. These factors are bolstering the auto parts and accessories market growth. In addition, rising disposable income and increased production of automobiles are further augmenting the market growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of auto parts and accessories. The growth and trends of auto parts and accessories industry provide a holistic approach to this study.
Market Segmentation
This section of the auto parts and accessories market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Driveline & Powertrain
- Interiors & Exteriors
- Electronics
- Bodies & Chassis
- Seating
By Application
By Sales Channel
- Direct Channel
- Distribution Channel
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Auto Parts and Accessories market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Auto Parts and Accessories Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the auto parts and accessories market include Bosch, Denso, Magna International, Continental, ZF Friedrichshafen, Hyundai Mobis, Aisin Seiki, Faurecia, Lear, Valeo, Delphi Automotive, Yazaki, Sumitomo Electric, JTEKT, Thyssenkrupp, Mahle GmbH, Yanfeng Automotive, BASF, Calsonic Kansei, Toyota Boshoku, Schaeffler, Panasonic Automotive, Toyoda Gosei, Autoliv, Hitachi Automotive, Gestamp, BorgWarner, Hyundai-WIA, Magneti Marelli, Samvardhana Motherson. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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