Auto Parts Market
PUBLISHED: 2025 ID: SMRC28778
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Auto Parts Market

Auto Parts Market Forecasts to 2030 - Global Analysis by Product (Engine Components, Drivetrain Components, Suspension & Braking, Electrical & Electronics, Body & Chassis, Interior Accessories, Tires & Wheels and Other Products), Vehicle Type, Sales Channel and By Geography

4.9 (37 reviews)
4.9 (37 reviews)
Published: 2025 ID: SMRC28778

This report covers the impact of COVID-19 on this global market
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Years Covered

2022-2030

Estimated Year Value (2024)

US $744.4 BN

Projected Year Value (2030)

US $1194.4 BN

CAGR (2024 - 2030)

8.2%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Auto Parts Market is accounted for $744.4 billion in 2024 and is expected to reach $1194.4 billion by 2030 growing at a CAGR of 8.2% during the forecast period. Auto parts are the discrete pieces that comprise a vehicle and guarantee its efficiency, safety, and functioning. They comprise smaller parts like filters, belts, and sensors in addition to larger parts like engines, transmissions, brakes, batteries, and tires. Vehicle stability, passenger safety, power generation, and fuel efficiency are just a few of the functions of auto parts. They are employed in the production, maintenance, and improvement of automobiles. Performance-enhancing and replacement parts are also offered by the aftermarket sector. Modern auto parts have electrical and smart features thanks to technological breakthroughs, which enhance vehicle automation, diagnostics, and fuel efficiency.


 
Market Dynamics: 

Driver: 

Rising Vehicle Production and Sales
 
Rising vehicle production and sales are driving growth in the auto parts market, increasing demand for OEM and aftermarket components. Suppliers profit from increased demand for vital components like engines, gearboxes, and electronics as automakers increase output to satisfy consumer demand. Growing car ownership also encourages the selling of aftermarket parts for upkeep and repairs. The demand for specialized components is further increased by technological developments like the adoption of EVs and smart car features, which foster industry growth and innovation.

Restraint:

High Initial Costs for Advanced Components

The high initial costs of advanced components hinder the auto parts market by limiting accessibility for small manufacturers and increasing vehicle production expenses. These costs slow innovation adoption, reduce affordability for consumers, and pressure suppliers to balance quality with cost-effectiveness. Additionally, high capital investment requirements discourage new entrants, leading to reduced competition and slower market expansion, ultimately impacting overall industry growth and profitability.

Opportunity:

Technological Advancements

Technological innovations are altering the automotive parts industry by increasing efficiency, safety, and sustainability. 3D printing, IoT-enabled components, and AI-driven manufacturing are examples of innovations that increase production speed and product accuracy. Electric vehicle (EV) components and lightweight materials increase fuel economy and lower pollutants. Vehicle safety is improved with ADAS (Advanced Driver Assistance Systems) and smart sensors. Supply chain automation developments also simplify logistics, cutting expenses and delivery times, these developments fuel market expansion.

Threat:

Supply Chain Disruptions

Supply chain disruptions have a detrimental influence on the auto parts market because they cause manufacturing delays, cost increases, and inventory shortages. Manufacturing is hampered by logistical issues and a lack of raw materials, which raises costs and decreases the number of vehicles produced.  Reliance on foreign vendors increases risks and has an impact on repair and aftermarket sales. Manufacturers, distributors, and consumers all experience uncertainty as a result of these interruptions, which also hinder market growth and reduce profitability.

Covid-19 Impact

The COVID-19 pandemic disrupted the auto parts market due to supply chain bottlenecks, factory shutdowns, and reduced consumer demand. Lockdowns led to production halts, while semiconductor shortages further constrained manufacturing. Aftermarket sales declined as vehicle usage dropped, but later rebounded with increased demand for maintenance. The industry shifted towards local sourcing and digital sales channels to mitigate future risks, driving long-term transformation in the sector.

The engine components segment is expected to be the largest during the forecast period

The engine components segment is expected to account for the largest market share during the forecast period, because of growing demand for fuel efficiency and increased car production. Material innovations like lightweight alloys improve durability and performance. Component design is changing due to the rise in electric and hybrid vehicles, and market expansion is being sustained by aftermarket demand for engine replacements and repairs. Engine components are now a major driver in the auto parts market because to emerging technologies like variable valve timing and turbochargers, which further accelerate category growth.

The passenger cars segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the passenger cars segment is predicted to witness the highest growth rate, due to rising vehicle production, increasing consumer demand for comfort and safety features, and growing aftermarket services. Advancements in technology, including electric and hybrid vehicles, fuel the need for specialized components. Additionally, stringent emission norms push automakers to adopt lightweight and energy-efficient parts. The surge in ride-sharing and personal vehicle ownership further accelerates replacement part demand, reinforcing the passenger car segment’s crucial role in shaping the auto parts industry.

Region with largest share:

During the forecast period, the North America region is expected to hold the largest market share due to an increase in e-commerce platforms and a growing consumer preference for aftermarket components, which further increase sales. While supply chain localization initiatives support localized production, stricter pollution laws encourage the use of lightweight and fuel-efficient components. The necessity for new parts is also maintained by longer vehicle lifespans and maintenance requirements. Technology integration, such as AI and IoT-enabled components, also has an impact on the market.

Region with highest CAGR:

Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR, owing to rapid urbanization, expanding middle-class populations, and infrastructure development fuel automotive sales, boosting component requirements. Government policies supporting domestic manufacturing and technological advancements, such as smart and lightweight materials, further drive growth. Additionally, the rise of e-commerce platforms and digitalization in supply chains enhances distribution efficiency, making the market more dynamic and competitive.

Key players in the market

Some of the key players profiled in the Auto Parts Market include Aisin Corporation, Autoliv Inc., BorgWarner Inc., Continental AG, Delphi Technologies, DENSO Corporation, Faurecia, Hyundai Mobis, Johnson Controls Inc., Lear Corporation, Magna International Inc., Mahindra and Mahindra Limited, Robert Bosch GmbH, Sumitomo Electric Industries Ltd., Thyssenkrupp AG, Toyota Motor Corporation, Valeo, Yazaki Corporation and ZF Friedrichshafen AG. 

Key Developments:

In September 2024, Toyota Motor Corporation (Toyota) and the BMW Group (BMW) signed an agreement to strengthen collaboration in the hydrogen sector, on the development of fuel cells system and the improvement of infrastructure.

In June 2024, Continental partnered with Samsara, a global telematics provider. The goal of this integration will be to deliver comprehensive, data-driven fleet management solutions with a focus on truck trailers.

In April 2024, Suzuki Motor Corporation and Toyota Motor Corporation have announced an expansion of their partnership. This collaboration aims to leverage both companies' strengths to contribute to a carbon-neutral society.

Products Covered:
• Engine Components
• Drivetrain Components
• Suspension & Braking
• Electrical & Electronics
• Body & Chassis
• Interior Accessories
• Tires & Wheels
• Other Products

Vehicle Types Covered:
• Passenger Cars
• Light Commercial Vehicles (LCVs)
• Heavy Commercial Vehicles (HCVs)
• Two-Wheelers
• Electric Vehicles (EVs)

Sales Channels Covered:
• Original Equipment Manufacturer
• Aftermarket

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary      
        
2 Preface       

 2.1 Abstract      
 2.2 Stake Holders     
 2.3 Research Scope     
 2.4 Research Methodology    
  2.4.1 Data Mining    
  2.4.2 Data Analysis    
  2.4.3 Data Validation    
  2.4.4 Research Approach    
 2.5 Research Sources     
  2.5.1 Primary Research Sources   
  2.5.2 Secondary Research Sources   
  2.5.3 Assumptions    
        
3 Market Trend Analysis     
 3.1 Introduction     
 3.2 Drivers      
 3.3 Restraints     
 3.4 Opportunities     
 3.5 Threats      
 3.6 Product Analysis     
 3.7 Emerging Markets     
 3.8 Impact of Covid-19     
        
4 Porters Five Force Analysis     
 4.1 Bargaining power of suppliers    
 4.2 Bargaining power of buyers    
 4.3 Threat of substitutes    
 4.4 Threat of new entrants    
 4.5 Competitive rivalry     
        
5 Global Auto Parts Market, By Product    
 5.1 Introduction     
 5.2 Engine Components    
  5.2.1 Pistons & Rings    
  5.2.2 Engine Valves & Parts   
 5.3 Drivetrain Components    
  5.3.1 Transmission    
  5.3.2 Axles     
 5.4 Suspension & Braking    
  5.4.1 Shock Absorbers    
  5.4.2 Struts     
 5.5 Electrical & Electronics    
  5.5.1 Batteries     
  5.5.2 Alternators    
 5.6 Body & Chassis     
  5.6.1 Bumpers     
  5.6.2 Fenders     
 5.7 Interior Accessories     
  5.7.1 Infotainment Systems   
  5.7.2 Dashboard Components   
 5.8 Tires & Wheels     
  5.8.1 Tubeless Tires    
  5.8.2 Alloy Wheels    
 5.9 Other Products     
        
6 Global Auto Parts Market, By Vehicle Type   
 6.1 Introduction     
 6.2 Passenger Cars     
 6.3 Light Commercial Vehicles (LCVs)   
 6.4 Heavy Commercial Vehicles (HCVs)   
 6.5 Two-Wheelers     
 6.6 Electric Vehicles (EVs)    
        
7 Global Auto Parts Market, By Sales Channel   
 7.1 Introduction     
 7.2 Original Equipment Manufacturer   
 7.3 Aftermarket     
        
8 Global Auto Parts Market, By Geography    
 8.1 Introduction     
 8.2 North America     
  8.2.1 US     
  8.2.2 Canada     
  8.2.3 Mexico     
 8.3 Europe      
  8.3.1 Germany     
  8.3.2 UK     
  8.3.3 Italy     
  8.3.4 France     
  8.3.5 Spain     
  8.3.6 Rest of Europe    
 8.4 Asia Pacific     
  8.4.1 Japan     
  8.4.2 China     
  8.4.3 India     
  8.4.4 Australia     
  8.4.5 New Zealand    
  8.4.6 South Korea    
  8.4.7 Rest of Asia Pacific    
 8.5 South America     
  8.5.1 Argentina    
  8.5.2 Brazil     
  8.5.3 Chile     
  8.5.4 Rest of South America   
 8.6 Middle East & Africa    
  8.6.1 Saudi Arabia    
  8.6.2 UAE     
  8.6.3 Qatar     
  8.6.4 South Africa    
  8.6.5 Rest of Middle East & Africa   
        
9 Key Developments      
 9.1 Agreements, Partnerships, Collaborations and Joint Ventures 
 9.2 Acquisitions & Mergers    
 9.3 New Product Launch    
 9.4 Expansions     
 9.5 Other Key Strategies    
        
10 Company Profiling      
 10.1 Aisin Corporation     
 10.2 Autoliv Inc.     
 10.3 BorgWarner Inc.     
 10.4 Continental AG     
 10.5 Delphi Technologies    
 10.6 DENSO Corporation     
 10.7 Faurecia      
 10.8 Hyundai Mobis     
 10.9 Johnson Controls Inc.    
 10.10 Lear Corporation     
 10.11 Magna International Inc.    
 10.12 Mahindra and Mahindra Limited   
 10.13 Robert Bosch GmbH     
 10.14 Sumitomo Electric Industries Ltd.   
 10.15 Thyssenkrupp AG     
 10.16 Toyota Motor Corporation    
 10.17 Valeo      
 10.18 Yazaki Corporation     
 10.19 ZF Friedrichshafen AG    
        
List of Tables       
1 Global Auto Parts Market Outlook, By Region (2022-2030) ($MN) 
2 Global Auto Parts Market Outlook, By Product (2022-2030) ($MN) 
3 Global Auto Parts Market Outlook, By Engine Components (2022-2030) ($MN)
4 Global Auto Parts Market Outlook, By Pistons & Rings (2022-2030) ($MN) 
5 Global Auto Parts Market Outlook, By Engine Valves & Parts (2022-2030) ($MN)
6 Global Auto Parts Market Outlook, By Drivetrain Components (2022-2030) ($MN)
7 Global Auto Parts Market Outlook, By Transmission (2022-2030) ($MN) 
8 Global Auto Parts Market Outlook, By Axles (2022-2030) ($MN) 
9 Global Auto Parts Market Outlook, By Suspension & Braking (2022-2030) ($MN)
10 Global Auto Parts Market Outlook, By Shock Absorbers (2022-2030) ($MN)
11 Global Auto Parts Market Outlook, By Struts (2022-2030) ($MN) 
12 Global Auto Parts Market Outlook, By Electrical & Electronics (2022-2030) ($MN)
13 Global Auto Parts Market Outlook, By Batteries (2022-2030) ($MN) 
14 Global Auto Parts Market Outlook, By Alternators (2022-2030) ($MN) 
15 Global Auto Parts Market Outlook, By Body & Chassis (2022-2030) ($MN) 
16 Global Auto Parts Market Outlook, By Bumpers (2022-2030) ($MN) 
17 Global Auto Parts Market Outlook, By Fenders (2022-2030) ($MN) 
18 Global Auto Parts Market Outlook, By Interior Accessories (2022-2030) ($MN)
19 Global Auto Parts Market Outlook, By Infotainment Systems (2022-2030) ($MN)
20 Global Auto Parts Market Outlook, By Dashboard Components (2022-2030) ($MN)
21 Global Auto Parts Market Outlook, By Tires & Wheels (2022-2030) ($MN) 
22 Global Auto Parts Market Outlook, By Tubeless Tires (2022-2030) ($MN) 
23 Global Auto Parts Market Outlook, By Alloy Wheels (2022-2030) ($MN) 
24 Global Auto Parts Market Outlook, By Other Products (2022-2030) ($MN) 
25 Global Auto Parts Market Outlook, By Vehicle Type (2022-2030) ($MN) 
26 Global Auto Parts Market Outlook, By Passenger Cars (2022-2030) ($MN) 
27 Global Auto Parts Market Outlook, By Light Commercial Vehicles (LCVs) (2022-2030) ($MN)
28 Global Auto Parts Market Outlook, By Heavy Commercial Vehicles (HCVs) (2022-2030) ($MN)
29 Global Auto Parts Market Outlook, By Two-Wheelers (2022-2030) ($MN) 
30 Global Auto Parts Market Outlook, By Electric Vehicles (EVs) (2022-2030) ($MN)
31 Global Auto Parts Market Outlook, By Sales Channel (2022-2030) ($MN) 
32 Global Auto Parts Market Outlook, By Original Equipment Manufacturer (2022-2030) ($MN)
33 Global Auto Parts Market Outlook, By Aftermarket (2022-2030) ($MN) 
        
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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