Rising Disposable Income Will Drive The Motor Vehicle Parts Manufacturing Market

Posted October 12, 2018 by srikanthgtbrc

The global motor vehicle parts manufacturing market was valued around $2785 billion in 2017. Asia Pacific was the largest region in the motor vehicle parts manufacturing market in 2017, accounting for around 45% of the total market.

The motor vehicle parts manufacturing industry comprises companies manufacturing motor vehicle parts including engines. This industry includes companies manufacturing new motor vehicle parts as well as spare parts. This market includes companies manufacturing motor vehicle parts for both original equipment manufacturers and replacement market.

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The global motor vehicle parts manufacturing market has shown high growth in the past years with a CAGR of about 8.5%. The year 2017 recorded highest ever market value in this industry as per TBRC’s inhouse consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the motor vehicle parts manufacturing market to grow at a lower CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.

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The global motor vehicle parts manufacturing market grew at a compound annual growth rate (CAGR) of 9%%. This was mainly due to strong car sales in countries such as China, India and USA owing to rising disposable income, low fuel prices, preference for light combustion vehicles, hybrid, electric vehicles, and credit availability. Also the growth can be attributed to the expected increase in the demand for new vehicles in developing countries such as India and China. The shift in the trend towards more fuel efficient vehicles, is also expected to drive the market in the forecast period.
TBRC’s latest report will cover in depth understanding and calculated impacts of each market factor on a global as well as regional level, to analyze the best investment strategy for this market.
Companies included in the report are Robert Bosch, Denso Corporation, Magna International Inc., Aisin Group and Continental Automotive Systems Corporation.

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Categories Business , Manufacturing , Services
Tags Motor Vehicle Parts Manufacturing Global Market Report , Motor Vehicle Body Market Report , Metal Stamping Market Report , Motor Vehicle Electrical And Electronic Equipment Market Report
Last Updated October 12, 2018