Auto Parts Manufacturing Market Size, Share, Growth and Industry Report
IMARC Group, a leading market research company, has recently released a report titled “Auto Parts Manufacturing Market Report by Component Type (Battery, Cooling System, Underbody Components, Engine Components, Automotive Filter, Lighting Components, Electrical Components, and Others), Sales Channel (OEM, Aftermarket), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Others), and Region 2025-2033”. The study provides a detailed analysis of the industry, including the auto parts manufacturing market share, size, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big Is the Auto Parts Manufacturing Market?
The global auto parts manufacturing market size reached USD 2,250.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 2,761.1 Billion by 2033, exhibiting a growth rate (CAGR) of 2.3% during 2025-2033. The increasing global demand for automobiles, the rising governments initiatives and incentives promoting the automotive industry's growth and sustainability, and the growing consumer demand for enhanced comfort, connectivity, and convenience features in vehicles are some of the factors propelling the market.
Global Auto Parts Manufacturing Market Trends:
The increasing complexity of modern vehicles, driven by the integration of advanced technologies such as infotainment systems, electronic control units (ECUs), and connectivity features, is fueling the growth of the auto parts manufacturing market. As vehicles become more sophisticated, the demand for specialized components to support these advanced functionalities continues to rise, driving innovation and expansion within the auto parts industry. Furthermore, rapid urbanization and expanding middle-class populations are creating a positive outlook for market expansion. As more people migrate to urban areas and achieve higher disposable incomes, there is a surge in demand for vehicles, leading to increased production and consumption of auto parts to support the burgeoning automotive market in these regions.
Factors Affecting the Growth of the Auto Parts Manufacturing Industry:
Automotive industry trends:
The automotive industry plays a pivotal role in driving the demand and growth of the auto parts manufacturing market. The shift towards electric vehicles (EVs), as governments worldwide implement stricter emissions regulations and consumers become more environmentally conscious is fueling the demand for auto parts, such as batteries, electric motors, and charging infrastructure components. Furthermore, the rise of autonomous vehicles which require advanced sensors, software, and other components to enable self-driving capabilities is contributing to the growth of the auto parts manufacturing market. Apart from this, trends like lightweighting, connectivity, and advanced driver assistance systems (ADAS) are impelling the market growth, driving manufacturers to innovate and produce components that meet these evolving requirements.
Ongoing technological advancements:
Advancements in materials science, for instance, have led to the development of lighter, stronger, and more durable materials like carbon fiber composites and advanced alloys. These materials not only enhance the performance of auto parts but also contribute to vehicle fuel efficiency and safety. Moreover, the integration of advanced manufacturing technologies such as additive manufacturing (3D printing), robotics, and automation has revolutionized the production processes within the auto parts manufacturing industry. These technologies enable manufacturers to streamline operations, reduce costs, and produce complex parts with greater precision and efficiency. Additionally, digitalization and data analytics are playing an increasingly important role in optimizing supply chain management, predictive maintenance, and overall operational efficiency within the auto parts manufacturing sector, thus aiding in market expansion.
Global economic factors:
Economic conditions and macroeconomic trends have a significant impact on the auto parts manufacturing market. Factors such as gross domestic product (GDP) growth, consumer spending, interest rates, and exchange rates influence both demand and supply dynamics within the automotive industry. Moreover, globalization and international trade are contributing to the growth of the auto parts manufacturing market. Many auto parts manufacturers operate in global supply chains, sourcing raw materials and components from different regions and selling their products in diverse markets worldwide. Fluctuations in exchange rates, trade policies, and geopolitical tensions can impact the cost of production, supply chain logistics, and market demand for auto parts.
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Auto Parts Manufacturing Market Report Segmentation:
By Component Type:
- Battery
- Cooling System
- Compressor
- Radiator
- Pump
- Thermostat
- Underbody Components
- Brake
- Exhaust
- Engine Components
- Starter
- Pump
- Engine
- Alternator
- Automotive Filter
- Lighting Components
- Electrical Components
- Ignition Coil
- Ignition Switch
- Spark and Glow Plug
- Others
Engine components represent the largest segment due to their critical role in vehicle performance, requiring frequent updates and replacements to meet evolving efficiency and emissions standards.
By Sales Channel:
- OEM
- Aftermarket
Original equipment manufacturer (OEM) accounted for the largest market share as manufacturers prefer sourcing parts directly from OEMs to ensure compatibility, quality, and warranty compliance.
By Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Others
Passenger cars represented the largest segment, driven by their high global ownership rates and utilization in catering to the broad spectrum of consumer needs.
Regional Insights:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Aisin Corporation
- Akebono Brake Industry Co. Ltd.
- Brembo S.p.A.
- Continental AG
- DENSO Corporation
- Faurecia SE
- General Motors Company
- Magna International Inc.
- Marelli Holdings Co. Ltd.
- Robert Bosch GmbH
- Schaeffler AG and Valeo
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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