The global demand for Automotive Performance Parts 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 of 2022 - 2028. Regarding volume, the market was calculated XX Units in 2021 and forecast to touch XX Units by 2028 with a CAGR of XX% during 2022-2028.
Automotive Performance Parts are a range of automotive components created for increasing horsepower, lowering emissions levels, increasing fuel economy among others. The difference between a performance part and an OEM (Original Equipment Manufacturer) part is that the performance part not only performs its function but also increases the vehicle's performance characteristics beyond factory specifications.
Market Dynamics
The driving force for the growth of this market is the growing demand for better quality and more advanced car models. The automotive industry is full of technological advances that have helped to make vehicles lighter, safer and more efficient. For example: improved powertrain design with dual-clutch transmissions; improvements in tire technology with wider tires; improved aerodynamics in car design; and stricter emissions regulations with lower sulfur fuel additives are some driving factors that are driving the growth of automotive performance parts market. Besides the above factors, the global automotive industry including automotive performance parts market is also seeing an increased number of safety standards and regulations across multiple regions which are expected to drive the growth of automotive performance parts market.
The 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 automotive performance parts. The growth and trends of Automotive Performance Parts Industry provide a holistic approach to this study.
Market Segmentation
This section of the automotive performance parts market report provides detailed data on the segments by analyzing them 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 Product Type
- Exhaust Systems
- Suspension Parts
- Brakes
- Fuel Air & Intake Systems
- Transmission Parts
- Power Adders
By Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Sales Channel
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Automotive Performance Parts 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 Automotive Performance Parts 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 automotive performance parts market include Tenneco Inc., Robert Bosch GmbH, Continental AG, BorgWarner Inc., Mahle GmbH, Donaldson Company Inc., Holley Performance Products, Mitsubishi Heavy Industries Ltd., Honeywell International Inc., EXEDY Corporation, Denso Corporation, AISIN SEIKI Co. Ltd., Hitachi Astemo Ltd., The NGK Spark Plug Co. Ltd., Cummins Inc., ZF Friedrichshafen AG, Valeo, TREMEC, Hyundai Mobis. 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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