Outlook on the Motor Vehicle Parts Global Market to 2030 - Identify Growth Segments for Investment - ResearchAndMarkets.com
Western Europe was the second largest region accounting for 22% of the global motor vehicle parts market.
The "Motor Vehicle Parts Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global motor vehicle parts market as it emerges from the COVID-19 shut down.
The global motor vehicle parts market is expected to grow from $2650. 05 billion in 2020 to $2781. 32 billion in 2021 at a compound annual growth rate (CAGR) of 5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3810. 01 billion in 2025 at a CAGR of 8%.
Companies Mentioned
- Robert Bosch
- Denso Corporation
- Magna International Inc
- Aisin Group
- Continental Automotive Systems Corporation
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Asia Pacific was the largest region in the global motor vehicle parts market, accounting for 45% of the market in 2020. Western Europe was the second largest region accounting for 22% of the global motor vehicle parts market. Africa was the smallest region in the global motor vehicle parts market.
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 automaker and parts suppliers. This will decrease vehicle-to-component calibration, thus allowing parts suppliers to develop products with more autonomy. According to a report by EY firm, electric vehicles transformation in India may affect existing automobile spare part sales as EV is built with 20 moving parts while vehicles equipped with internal combustion engines have around 200 spare parts.
Technological Advances - Advances in technology are expected to be a continued driver of motor vehicle parts manufacturing market growth in the forecast period. The global transport manufacturing industry has experienced many technological advances in the last decade and this trend is expected to intensify. According to Forbes, the ten new features to expect in vehicles by 2020 include autonomous driving, driver override systems, biometric vehicle access, comprehensive vehicle tracking, active window displays, remote vehicle shutdown, active health monitoring, four-cylinder supercars, smart and personalized in-car marketing and reconfigurable body panels. These innovations are expected to drive the motor vehicle parts manufacturing market during the forecast period.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Motor Vehicle Parts Market Characteristics
4. Motor Vehicle Parts Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Motor Vehicle Parts Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Motor Vehicle Parts Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Motor Vehicle Parts Market Trends and Strategies
8. Impact of COVID-19 on Motor Vehicle Parts
9. Motor Vehicle Parts Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.3. Forecast Market Growth, Value ($ Billion)
10. Motor Vehicle Parts Market Regional Analysis
10.1. Global Motor Vehicle Parts Market, 2020, by Region, Value ($ Billion)
10.2. Global Motor Vehicle Parts Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Motor Vehicle Parts Market, Growth and Market Share Comparison, by Region
11. Motor Vehicle Parts Market Segmentation
11.1. Global Motor Vehicle Parts Market, Segmentation by Type
11.2. Global Motor Vehicle Parts Market, Segmentation by Application
11.3. Global Motor Vehicle Parts Market, Segmentation by End Use
12. Motor Vehicle Parts Market Segments
12.1. Global Motor Vehicle Body, Stamped Metal & Other Parts Market, Segmentation by Type
12.2. Global Motor Vehicle Engine, Power Train & Parts Market, Segmentation by Type
12.3. Global Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market, Segmentation by Type
13. Motor Vehicle Parts Market Metrics
For more information about this report visit https://www.researchandmarkets.com/r/ar5r4
View source version on businesswire.com: https://www.businesswire.com/news/home/20210412005567/en/