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 top five companies covered are Robert Bosch, Denso Corporation, Magna International Inc., Aisin Group and Continental Automotive Systems Corporation. Robert Bosch was the largest company in the motor vehicle parts manufacturing market.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Motor Vehicle Parts Manufacturing Market Size
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, accounting for around 45% of the total market. China was the largest country in the market accounting for around 24% of the total market.
Motor Vehicle Parts Manufacturing Market Trend
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.
Motor Vehicle Parts Manufacturing Market Segmentation
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.
Motor Vehicle Body, Metal Stamping, & Other Parts manufacturers produce motor vehicle seating and interior trim, fabric accessories and trimmings, seat belts and safety straps, for transportation equipment of all kinds.
Motor Vehicle Electrical & Electronic Equipment, Steering, Suspension, & Interiors manufacturing companies manufacture and rebuild electrical and electronic equipment used for motor vehicles and internal combustion engines.
Motor Vehicle Engine, Power Train, & Parts comprises establishments that manufacture and rebuild vehicles engines, engine parts, transmission and power train parts.