Auto Parts and Accessories Market Size, Trends, Analysis, and Outlook by Product (Engine Parts, Electrical Parts, Drive and Transmission Steering Parts, Suspension and Braking Parts Equipment, Others), Vehicle (Passenger Vehicle, Commercial Vehicle, Sport

Auto Parts and Accessories Market Size, Trends, Analysis, and Outlook by Product (Engine Parts, Electrical Parts, Drive and Transmission Steering Parts, Suspension and Braking Parts Equipment, Others), Vehicle (Passenger Vehicle, Commercial Vehicle, Sports Vehicles, Others), Type (Driveline and Powertrain, Interiors and Exteriors, Electronics, Seating, Lighting, Others), Application (OEM, Aftermarket), by Country, Segment, and Companies, 2024-2030

The global Auto Parts and Accessories market size is poised to register 8.27% growth from 2024 to 2030, presenting significant growth prospects for companies operating in the industry. The study analyzes the global Auto Parts and Accessories market by Product (Engine Parts, Electrical Parts, Drive and Transmission Steering Parts, Suspension and Braking Parts Equipment, Others), Vehicle (Passenger Vehicle, Commercial Vehicle, Sports Vehicles, Others), Type (Driveline and Powertrain, Interiors and Exteriors, Electronics, Seating, Lighting, Others), Application (OEM, Aftermarket).

The Auto Parts and Accessories market is poised for robust growth and evolution leading up, driven by the increasing global vehicle park and the rising average vehicle age are driving the aftermarket segment, with a growing demand for replacement parts and accessories to maintain and upgrade existing vehicles. Further, the shift toward electric and autonomous vehicles is reshaping the market landscape, with opportunities emerging for specialized parts and accessories catering to the unique requirements of these vehicles. In addition, advancements in e-commerce platforms and digital marketing strategies are expanding access to auto parts and accessories, driving market competition, and offering consumers a wider range of products and purchasing options. Furthermore, the growing focus on vehicle personalization and customization, fueled by consumer desire for individuality and aesthetic appeal, is driving demand for aftermarket accessories and performance parts. .

Auto Parts and Accessories Market Drivers, Trends, Opportunities, and Growth Opportunities

This comprehensive study discusses the latest trends and the most pressing challenges for industry players and investors. The Auto Parts and Accessories market research analyses the global market trends, key drivers, challenges, and opportunities in the industry. In addition, the latest Future of Auto Parts and Accessories survey report provides the market size outlook across types, applications, and other segments across the world and regions. It provides data-driven insights and actionable recommendations for companies in the Auto Parts and Accessories industry.

Key market trends defining the global Auto Parts and Accessories demand in 2024 and Beyond

The industry continues to remain an attractive hub for opportunities for both domestic and global vendors. As the market evolves, factors such as emerging market dynamics, demand from end-user sectors, a growing patient base, changes in consumption patterns, and widening distribution channels continue to play a major role.

Auto Parts and Accessories Market Segmentation- Industry Share, Market Size, and Outlook to 2030

The Auto Parts and Accessories industry comprises a wide range of segments and sub-segments. The rising demand for these product types and applications is supporting companies to increase their investment levels across niche segments. Accordingly, leading companies plan to generate a large share of their future revenue growth from expansion into these niche segments. The report presents the market size outlook across segments to support Auto Parts and Accessories companies scaling up production in these sub-segments with a focus on expanding into emerging countries.

Key strategies adopted by companies within the Auto Parts and Accessories industry

Leading Auto Parts and Accessories companies are boosting investments to capitalize on untapped potential and future possibilities across niche market segments and surging demand conditions in key regions. Further, companies are leveraging advanced technologies to unlock opportunities and achieve operational excellence. The report provides key strategies opted for by the top 10 Auto Parts and Accessories companies.

Auto Parts and Accessories Market Study- Strategic Analysis Review

The Auto Parts and Accessories market research report dives deep into the qualitative factors shaping the market, empowering you to make informed decisions-

• Industry Dynamics: Porter's Five Forces analysis to understand bargaining power, competitive rivalry, and threats that impact long-term strategy formulation.
• Strategic Insights: Provides valuable perspectives on key players and their approaches based on comprehensive strategy analysis.
• Internal Strengths and Weaknesses: Develop targeted strategies to leverage strengths, address weaknesses, and capitalize on market opportunities.
• Future Possibilities: Prepare for diverse outcomes with in-depth scenario analysis. Explore potential market disruptions, technology advancements, and economic changes.

Auto Parts and Accessories Market Size Outlook- Historic and Forecast Revenue in Three Cases

The Auto Parts and Accessories industry report provides a detailed analysis and outlook of revenue generated by companies from 2018 to 2023. Further, with actual data for 2023, the report forecasts the market size outlook from 2024 to 2030 in three case scenarios- low case, reference case, and high case scenarios.

Auto Parts and Accessories Country Analysis and Revenue Outlook to 2030

The report analyses 22 countries worldwide including the key driving forces and market size outlook from 2021 to 2030. In addition, region analysis across Asia Pacific, Europe, the Middle East, Africa, North America, and South America is included in the study. For each of the six regions, the market size outlook by segments is forecast for 2030.

North America Auto Parts and Accessories Market Size Outlook- Companies plan for focused investments in a changing environment

The US continues to remain the market leader in North America, driven by a large consumer base, the presence of well-established providers, and a strong end-user industry demand. Leading companies focus on new product launches in the changing environment. The US economy is expected to grow in 2024 (around 2.2% growth in 2024), potentially driving demand for various Auto Parts and Accessories market segments. Similarly, Strong end-user demand is encouraging Canadian Auto Parts and Accessories companies to invest in niche segments. Further, as Mexico continues to strengthen its trade relations and invest in technological advancements, the Mexico Auto Parts and Accessories market is expected to experience significant expansion, offering lucrative opportunities for both domestic and international stakeholders.

Europe Auto Parts and Accessories Market Size Outlook-Companies investing in assessing consumers, categories, competitors, and capabilities

The German industry remains the major market for companies in the European Auto Parts and Accessories industry with consumers in Germany, France, the UK, Spain, Italy, and others anticipated to register a steady demand throughout the forecast period, driving the overall market prospects. In addition, the proactive approach of businesses in identifying and leveraging new growth prospects positions the European Auto Parts and Accessories market for an upward trajectory, fostering both domestic and international interest. Leading brands operating in the industry are emphasizing effective marketing strategies, innovative product offerings, and a keen understanding of consumer preferences.

Asia Pacific Auto Parts and Accessories Market Size Outlook- an attractive hub for opportunities for both local and global companies

The increasing prevalence of indications, robust healthcare expenditure, and increasing investments in healthcare infrastructure drive the demand for Auto Parts and Accessories in Asia Pacific. In particular, China, India, and South East Asian Auto Parts and Accessories markets present a compelling outlook for 2030, acting as a magnet for both domestic and multinational manufacturers seeking growth opportunities. Similarly, with a burgeoning population and a rising middle class, India offers a vast consumer market. Japanese and Korean companies are quickly aligning their strategies to navigate changes, explore new markets, and enhance their competitive edge. Our report utilizes in-depth interviews with industry experts and comprehensive data analysis to provide a comprehensive outlook of 6 major markets in the region.

Latin America Auto Parts and Accessories Market Size Outlook- Continued urbanization and rising income levels

Rising income levels contribute to greater purchasing power among consumers, spurring consumption and creating opportunities for market expansion. Continued urbanization and rising income levels are expected to sustainably drive consumption growth in the medium to long term.

Middle East and Africa Auto Parts and Accessories Market Size Outlook- continues its upward trajectory across segments

Robust demand from Middle Eastern countries including Saudi Arabia, the UAE, Qatar, Kuwait, and other GCC countries supports the overall Middle East Auto Parts and Accessories market potential. Fueled by increasing consumption expenditure, growing population, and high demand across a few markets drives the demand for Auto Parts and Accessories.

Auto Parts and Accessories Market Company Profiles

The global Auto Parts and Accessories market is characterized by intense competitive conditions with leading companies opting for aggressive marketing to gain market shares. The report presents business descriptions, SWOT analysis, growth strategies, and financial profiles. Leading companies included in the study are Aisin Corp, Autoliv Inc, BASF SE, BorgWarner Inc, Continental AG, Denso Corp, Faurecia SE, Hitachi Ltd, ThyssenKrupp AG, Valeo SA.

Recent Auto Parts and Accessories Market Developments

The global Auto Parts and Accessories market study presents recent market news and developments including new product launches, mergers, acquisitions, expansions, product approvals, and other updates in the industry.

Auto Parts and Accessories Market Report Scope

Parameters: Revenue, Volume Price

Study Period: 2023 (Base Year); 2018- 2023 (Historic Period); 2024- 2030 (Forecast Period)

Currency: USD; (Upon request, can be provided in Euro, JPY, GBP, and other Local Currency)

Qualitative Analysis

• Pricing Analysis
• Value Chain Analysis
• SWOT Profile
• Market Dynamics- Trends, Drivers, Challenges
• Porter’s Five Forces Analysis
• Macroeconomic Impact Analysis
• Case Scenarios- Low, Base, High

Market Segmentation:

Product

Engine Parts

Electrical Parts

Drive and Transmission Steering Parts

Suspension and Braking Parts Equipment

Others

Vehicle

Passenger Vehicle

Commercial Vehicle

Sports Vehicles

Others

Type

Driveline and Powertrain

Interiors and Exteriors

Electronics

Seating

Lighting

Others

Application

OEM

Aftermarket

Geographical Segmentation:

• North America (3 markets)
• Europe (6 markets)
• Asia Pacific (6 markets)
• Latin America (3 markets)
• Middle East Africa (5 markets)

Companies

Aisin Corp

Autoliv Inc

BASF SE

BorgWarner Inc

Continental AG

Denso Corp

Faurecia SE

Hitachi Ltd

ThyssenKrupp AG

Valeo SA.

Formats Available: Excel, PDF, and PPT