China is the largest auto parts market in the world, representing over 25% of the auto parts consumptions worldwide. OEM currently remains as the largest auto parts segment, accounting for more than 67% of the market share, while the aftermarket segment is showing a faster growth rate over the years, mainly driven by the rising automotive ownership around the world. Factors such as rising demand for electric vehicles with high density lithium batteries, increasing automotive production, and higher purchase power of consumers around the world are boosting the growth of the global auto parts manufacturing market over the recent years.īased on the end-user sectors, the global auto parts market can be segmented into OEM and aftermarkets. According to the latest market report listed on Report Linker, the global auto parts market size is projected to reach $810.5 billion by 2025, representing a strong CAGR of over 4.3% during the five-year period. Join today to see how BizVibe can help your business grow!Īuto parts refer to all the components used in automobile vehicles, which mainly includes products for Driveline & Powertrain, Interiors & Exteriors, Electronics, Bodies & Chassis, Seating, Lighting, Wheel & Tires, etc. What are the auto parts industry trends for future?īizvibe’s smart B2B marketplace solution helps buyers and suppliers in the global auto parts industry to find and connect with each other, shorten sourcing and purchasing cycles, and maximise profit growth.Who are the top 10 largest auto parts manufacturers in the US?.
What are the driving factors for the global auto parts industry growth?.What is the global auto parts market size?.This industry fact sheet is to assist industry professionals, investors, and people in general that are interested in gaining insights into the global auto parts manufacturing industry including: With the ongoing rapid development in the automotive technologies such as electric vehicles, connected cars and autonomous driving systems, the demand in the global auto parts industry – both OEM (Original Equipment Manufacturer) and aftermarket products – is expected to growth further over the near future. The global auto parts industry plays an essential role in supporting and facilitating the growth of the global automotive sector, while the top 10 auto parts manufacturers in the US and around the world have been dominating the market and remained as some of the largest contributors for the industry revenue.
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