1. Market Research
  2. > Automotive
  3. > Motor Vehicle Market Trends
Motor Vehicle Parts Global Market Report 2022

Motor Vehicle Parts Global Market Report 2022

  • May 2022
  • 400 pages
  • ID: 6277687
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major companies in the motor vehicle parts market include EXOR Group, Denso Corp, General Motors Co, Robert Bosch GmbH, Aisin Seiki Co Ltd, Continental AG, Fiat Chrysler Automobiles NV, Magna International Inc, Toyota Motor Corp, and SAIC Motor Co ltd.

The global motor vehicle parts market is expected to grow from $2,336.07 billion in 2021 to $2,572.01 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The market is expected to grow to $3,638.77 billion in 2026 at a compound annual growth rate (CAGR) of 9.1%.

The motor vehicle parts market consists of sales of motor vehicle parts and related services by entities (organizations, sole traders, and partnerships) that produce motor vehicle gasoline engines and engine parts, motor vehicle electrical and electronic equipment, motor vehicle steering, and suspension components (except springs), motor vehicle brake systems, motor vehicle transmission, and power train parts, motor vehicle seating and interior trim, motor vehicle metal stampings, and other motor vehicle parts and accessories.This market includes sales of rebuilt motor vehicle parts.

This market includes sales of both new and used vehicles.

The main types in motor vehicle parts are motor vehicle body, stamped metal & other parts, motor vehicle engine, power train & parts, motor vehicle electrical & electronic equipment, steering suspension, & interiors.The motor vehicle body refers to the parts of the motor vehicle that help in certain functions they perform.

The various applications include passenger vehicles, commercial vehicles. These are used in OEM and aftermarket.

Asia Pacific was the largest region in the motor vehicle parts market in 2021.Western Europe was the second largest market in motor vehicle parts market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.

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.

Coronavirus Pandemic - The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the motor vehicle parts manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.

The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe.

As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components.Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries impose lockdowns.

The outbreak is expected to continue to harm businesses throughout 2020 and into 2021. However, it is expected that the motor vehicle parts manufacturing market will recover from the shock across the forecast period as it is a ’black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.

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 an 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 EVs are built with 20 moving parts while vehicles equipped with internal combustion engines have around 200 spare parts.

The countries in the motor vehicle parts market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippine, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain; Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

ref:plp2022

Reportlinker.com © Copyright 2022. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on