Turkey Auto Parts Manufacturing Market Report and Forecast 2024-2032

Turkey Auto Parts Manufacturing Market Report and Forecast 2024-2032

Turkey Auto Parts Manufacturing Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the Turkey auto parts manufacturing market size reached a value of USD 8.77 billion in 2023. Aided by robust domestic demand, strategic investments, and favourable government policies, the market is projected to further grow at a CAGR of 6.2% between 2024 and 2032 to reach a value of USD 15.17 billion by 2032.

Auto parts manufacturing refers to the process of producing components and parts used in the assembly and maintenance of automobiles, motorcycles, trucks, and other motor vehicles. These parts encompass a wide range of components, including engine parts, transmission systems, chassis components, braking systems, electrical and electronic systems, interior and exterior trim, and other mechanical, electrical, and electronic parts.

Several factors underpin Turkey auto parts manufacturing market growth, driving demand and fostering innovation across the value chain. Firstly, the robust growth of the automotive sector in Turkey serves as a primary driver, with the country emerging as a key production hub for passenger cars, commercial vehicles, and light trucks. Favourable government incentives, including tax breaks, investment subsidies, and infrastructure development initiatives, attract domestic and foreign automakers to establish manufacturing facilities in Turkey, stimulating demand for locally sourced auto parts and components.

As per the Turkey auto parts manufacturing market analysis, Turkey's strategic geographic location at the crossroads of Europe, Asia, and the Middle East positions it as a vital logistics and distribution hub for automotive products, facilitating access to diverse markets and enabling efficient supply chain management. The country's well-developed transportation infrastructure, including ports, highways, and rail networks, enhances connectivity and enables seamless movement of raw materials, components, and finished vehicles, bolstering the competitiveness of Turkey's auto parts manufacturing sector.

As per Turkey auto parts manufacturing market outlook, the strong focus on research and development, innovation, and technology transfer drives advancements in automotive manufacturing processes, materials, and product design. Collaboration between market players, academic institutions, and research centres fosters a culture of innovation, leading to the development of cutting-edge technologies, lightweight materials, and energy-efficient solutions for vehicle components. As automakers strive to meet evolving consumer preferences, regulatory requirements, and sustainability goals, demand for innovative auto parts and systems manufactured in Turkey is expected to rise.

The auto parts manufacturing market in Turkey presents a myriad of opportunities for market players to capitalise on emerging trends, expand their market presence, and drive sustainable growth. One such opportunity lies in the transition towards electric and hybrid vehicles, driven by environmental concerns, regulatory mandates, and advancements in battery technology. As automakers invest in electrification initiatives and introduce electric vehicle (EV) models to their product portfolios, demand for electric drivetrain components, battery systems, and charging infrastructure presents lucrative opportunities for suppliers in the Turkey auto parts manufacturing market.

Furthermore, the growing adoption of advanced driver assistance systems (ADAS), connectivity solutions, and autonomous driving technologies creates demand for sensor modules, control units, and software platforms tailored to the needs of modern vehicles, propelling the Turkey auto parts manufacturing market expansion. With Turkey's expertise in electronics manufacturing and software development, companies have the opportunity to collaborate with automakers and technology firms to design and produce next-generation automotive components, enhancing vehicle safety, efficiency, and user experience.

Additionally, the shift towards sustainable manufacturing practices, circular economy principles, and resource efficiency opens avenues for innovation in materials sourcing, production processes, and waste management within the Turkey market. Adoption of renewable energy sources, implementation of green manufacturing technologies, and adoption of recycling and remanufacturing practices contribute to reducing environmental impact, minimising waste generation, and enhancing the sustainability of the automotive supply chain, which can influence the Turkey auto parts manufacturing market share.

Market Segmentation

The market can be divided based on component, sales channel, and vehicle type.

Market Breakup by Component

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

Market Breakup by Sales Channel

• OEM
• Aftermarket

Market Breakup by Vehicle Type

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

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Turkey auto parts manufacturing market. Some of the major players explored in the report by Expert Market Research are as follows:

• Robert Bosch GmbH
• Denso Corporation
• ZF Friedrichshafen AG
• Hyundai Motor Group
• Aisin Corporation
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.