The Car Parts Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Car Parts Market?
The market size of car parts has seen considerable growth in recent years. The market will increase from $255.56 billion in 2024 to $273.23 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Car Parts Industry?
The car parts global market is projected to reach $353.5 billion in 2029, with a compound annual growth rate (CAGR) of 6.7%.
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What are the Key Growth Drivers Fueling the Car Parts Market?
The key drivers in the car parts market are:
• Rising demand for electric vehicles
• Expansion of ride-sharing and fleet services
• Increasing preference for lightweight and durable parts
• Growth trend towards do-it-yourself (DIY) vehicle repairs
Global Market Segmentation: Identifying Major Car Parts Industry Segments
The car parts market covered in this report is segmented –
1) By Product Type: Engine Parts, Transmission Parts, Brake System Parts, Electrical Components, Suspension And Braking Systems, Body And Interior Components, Fuel And Emission Components, Exhaust System, Other Product Types
2) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
3) By End User: Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles, Sports Vehicles
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What are the Emerging Trends Shaping the Future of the Car Parts Market?
The key trends in the car parts market are:
• The move towards sustainable and recycled auto parts is a distinct emerging trend.
• The use of 3D printing in car part production is increasing.
• The adoption of smart components in the auto industry is shaping the future market.
• There's an ongoing trend of digital platforms being used for car parts distribution and an increase in automated manufacturing.
Who Are the Top Competitors & Leading Players in the Car Parts Market?
Major players in the car parts market are:
• Robert Bosch GmbH
• Denso Corporation
• ZF Friedrichshafen AG
• Thyssenkrupp AG
• Continental AG
• Magna International Inc.
• Aisin Seiki Co. Ltd.
• Sumitomo Electric Industries, Ltd.
• Valeo SA
• Lear Corporation
• Faurecia SE
• Tenneco Inc.
• Schaeffler Group
• Adient plc
• Yazaki Corporation
• BorgWarner Inc.
• JTEKT Corporation
• Mahle GmbH
• Nexteer Automotive India Private Limited
• Aptiv plc
• Hitachi Automotive Systems (India) Private Limited
Regional Dominance: Which Area Leads the Global Car Parts Market?
Asia-Pacific was the largest region in the car parts market in 2024
