What Has Been the Growth of the Automotive Performance Parts Market So Far?
The automotive performance parts market has seen considerable growth due to a variety of factors.
• The automotive performance parts market has seen strong growth in recent years. It is projected to increase from $340.28 billion in 2024 to $359.75 billion in 2025, at a CAGR of 5.7%.
This growth can be attributed to higher vehicle ownership, the rising popularity of motorsports, increasing disposable incomes, a growing enthusiast community, and longer vehicle lifespans.
What Is the Forecasted Market Size and Growth Rate for The Automotive Performance Parts Market Size In The Coming Years?
The automotive performance parts market is expected to maintain its strong growth trajectory in upcoming years.
• The automotive performance parts market is expected to grow steadily, reaching $445 billion by 2029 at a CAGR of 5.5%.
Growth is driven by the increasing adoption of electric vehicles (EVs), greater emphasis on fuel efficiency and emissions reduction, advancements in 3D printing technology, rising consumer interest in vehicle customization, the popularity of car shows and events, and the growth of e-commerce platforms. Key trends include performance parts for EVs, the adoption of advanced materials and lightweight components, growth in smart and connected performance parts, eco-friendly solutions for efficiency and emissions, and the integration of AI and machine learning in part design optimization.
What Factors Are Driving Growth In The Automotive Performance Parts Market?
The rising demand for sports cars and luxury vehicles is expected to drive the growth of the automotive performance part market. Sports cars are designed for speed, while luxury vehicles focus on comfort and advanced features. The increasing adoption of these vehicles is driven by consumer demand for high-performance and premium automobiles. Performance parts are crucial in enhancing speed and handling for sports cars, and comfort and performance for luxury cars. For example, the International Council on Clean Transportation reported a 63% increase in luxury vehicle registrations in 2022. Therefore, the demand for sports cars and luxury vehicles will drive the growth of the automotive performance parts market.
What Are The Main Segments Of The Global Automotive Performance Parts Market?
The automotive performance parts market covered in this report is segmented –
1) By Product Type: Exhaust Systems, Suspension Parts, Brakes, Fuel Air And Intake Systems, Transmission Parts, Power Adders
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
3) By Sales Channel: First Fit, Aftermarket
Subsegments:
1) By Exhaust Systems: Cat-Back Exhaust Systems, Header And Header-Back Exhaust Systems, High-Performance Exhaust Manifolds, Turbo Back Exhaust Systems, Mufflers And Resonators, Exhaust Tips And Pipe Kits
2) By Suspension Parts: Performance Shocks And Struts, Coilover Kits, Suspension Springs (Lowering And Performance Springs), Sway Bars And Anti-Roll Bars, Performance Control Arms And Bushings, Strut Tower Braces, Adjustable Ride Height Suspension Kits
3) By Brakes: Performance Brake Pads, High-Performance Brake Rotors (Slotted, Drilled), Big Brake Kits, Brake Lines And Hoses (Braided Stainless Steel), Performance Brake Calipers, Brake Fluid And Cooling Systems
4) By Fuel Air And Intake Systems: Cold Air Intakes, Performance Air Filters, Turbochargers And Superchargers, Intercoolers And Piping Kits, Fuel Injectors And Regulators, Performance Throttle Bodies, Intake Manifolds
5) By Transmission Parts: Short Shifters And Shift Knobs, Performance Clutches And Flywheels, Lightweight Transmission Parts (Gear Sets), Limited Slip Differentials (LSD), Performance Torque Converters, Transmission Coolers And Kits
6) By Power Adders: Turbochargers, Superchargers, Nitrous Oxide Systems, Methanol Injection Kits, Performance Ec Or Ecm Tuners And Chips, Performance Exhaust Turbines
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How Are Emerging Trends Reshaping The Dynamics Of The Automotive Performance Parts Market?
Major players in the automotive performance parts market are focusing on technological advancements like full titanium exhaust systems to boost vehicle performance and expand their reach globally. Full titanium exhaust systems are valued for their light weight, durability, and performance benefits. For example, in December 2023, Akrapovic d.d., a Slovenian automotive component manufacturer, unveiled two performance products for the Ferrari 296 GTB: the Slip-On Race Line (Titanium) full titanium exhaust system and the Link Pipe Set (SS), made from high-grade stainless steel. The Slip-On Race Line reduces weight by 3.6%, includes 3D-printed and cast components for enhanced performance and aesthetics, and improves engine sound with sport catalytic converters. The Link Pipe Set further reduces weight by 38.4% and optimizes exhaust flow, improving sound and potentially performance, with an ECU remapping required.
Who Are the Key Players In The Automotive Performance Parts Market?
Major companies operating in the automotive performance parts market are:
• Robert Bosch GmbH
• Denso Corporation
• Continental AG
• Honeywell International Inc
• AISIN SEIKI Co Ltd
• Mitsubishi Heavy Industries Ltd
• Cummins Inc.
• Tenneco Inc.
• Mahle GmbH
• BorgWarner Inc.
• KW Automotive
• The NGK Spark Plug Co Ltd
• Brembo SpA
• Donaldson Company Inc
• EXEDY Corporation
• Holley Performance Products Inc
• K&N Engineering Inc
• Eibach Springs Inc
• MagnaFlow
• Edelbrock LLC
• HKS Co Ltd
• Borla Performance Industries
• Mishimoto Automotive
• AEM Performance Electronics
• Cobb Tuning
• APR LLC
• Dinan Engineering Inc
• Akrapovic dd
What Is The Most Dominant Region In The Automotive Performance Parts Market?
North America was the largest region in the automotive performance parts market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive performance parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
