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.
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.
TBRC’s latest report show the growing trends in the market for each year, globally and geographically, with sourced reasons to support the growth claims.
The motor vehicle parts manufacturing market is segmented into motor vehicle body and metal stamping, & other parts, motor vehicle electrical & electronic equipment, steering, suspension, & interiors, motor vehicle engine, power train, & parts.
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Out of all the segments in the transportation manufacturing market, motor vehicle parts manufacturing has recorded the highest growth rate in past years and is analyzed to grow at the same pace in the future as well with a CAGR of about 9%.
Motor vehicle parts manufacturers are increasingly using light weight vehicle components to improve fuel efficiency. Light weight vehicle components enable motor vehicle manufacturers to reduce the overall weight of the vehicle, thus, lowering the fuel consumption. This improves the fuel efficiency of the vehicle while ensuring safety norms are complied. In this regard, automotive parts manufacturers are using advanced composites and high strength metals for producing motor vehicle parts.
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The top 5 companies included in the report are Robert Bosch, Denso Corporation, Magna International Inc., Aisin Group, and Continental Automotive Systems Corporation.
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