Global Motor Vehicle Electrical and Electronic Equipment Market

The motor vehicle electrical & electronic equipment, steering, suspension, & interiors market consists of sales of motor vehicle electrical & electronic equipment, steering, suspension, & interiors, and related services by entities (organizations, sole traders, and partnerships) that produce and/or rebuild electrical and electronic equipment for motor vehicles and internal combustion engines, motor vehicle steering mechanisms and suspension components or motor vehicle seating, seats, seat frames, seat belts, and interior trimmings. The main types in motor vehicle electrical & electronic equipment, steering, suspension, & interiors market are motor vehicle electrical and electronic equipment, motor vehicle steering and suspension components (except spring), motor vehicle seating, and interior trim. The motor vehicle's electrical and electronic equipment refers to the electronic equipment parts of the motor vehicle. The various applications include passenger vehicles, commercial vehicles. These are used in OEM, aftermarket. The global motor vehicle electrical & electronic equipment, steering suspension, & interiors market size is expected to grow from $407.12 billion in 2021 to $454.54 billion in 2022 at a compound annual growth rate (CAGR) of 11.6%. The global motor vehicle electrical & electronic equipment, steering suspension, and interiors market size is expected to grow to $684.9 billion in 2026 at a CAGR of 10.8%. Advances in technology are expected to be a continued driver of motor vehicle electrical & electronic equipment, steering suspension, & interiors market growth in the forecast period. The global transport manufacturing industry has experienced many technological advances in the last decade and this trend is expected to intensify. According to Forbes, the ten new features to expect in vehicles by 2020 include autonomous driving, driver override systems, biometric vehicle access, comprehensive vehicle tracking, active window displays, remote vehicle shutdown, active health monitoring, four-cylinder supercars, smart and personalized in-car marketing and reconfigurable body panels. These innovations are expected to drive the motor vehicle electrical & electronic equipment, steering suspension, & interiors market during the forecast period. The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the motor vehicle electrical & Electronic equipment, steering suspension& interiors market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries impose lockdowns. The outbreak continued to hurt businesses throughout 2020 and into 2021. However, it is expected that the motor vehicle electrical & Electronic equipment, steering suspension& interiors market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. The demand for electric vehicles is increasing rapidly and this is expected to disrupt the automotive value chain. Engines of electric vehicles are less complicated than their gasoline counterparts, thus requiring fewer replacement parts over the lifetime of a car. Electrification of cars also means that components such as air-conditioning units, water pumps, brakes, and steering systems will need to be adapted and designed to meet the requirements of electric cars. Since electric vehicles are manufactured with one-third the number of internal combustion engine (ICE) cars’ components, less collaboration will be required between the automaker and parts suppliers. This will decrease vehicle-to-component calibration, thus allowing parts suppliers to develop products with more autonomy. According to a report by EY firm, electric vehicles transformation in India may affect existing automobile spare part sales as EVs are built with 20 moving parts while vehicles equipped with internal combustion engines have around 200 spare parts. Major companies in the motor vehicle electrical & electronic equipment, steering, suspension, & interiors market include Denso Corp, Fiat Chrysler Automobiles NV, SAIC Motor Co ltd, Adient plc, Peugeot, Toyota Boshoku Corporation, Continental AG, Aptiv plc, Magna International Inc, and Valeo SA. Asia Pacific was the largest region in the motor vehicle electrical & electronic equipment, steering, suspension, & interiors market in 2021. North America was the second largest market in the global motor vehicle electrical & electronic equipment, steering suspension, & interiors market. The regions covered in the global motor vehicle electronic equipment, steering suspension, & interiors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries covered in motor vehicle electrical & electronic equipment, steering, suspension, & interiors market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global motor vehicle electrical & electronic equipment, steering suspension, & interiors market is segmented - 1) By Type: Motor Vehicle Electrical and Electronic Equipment, Motor Vehicle Steering and Suspension Components (except Spring), Motor Vehicle Seating and Interior Trim 2) By Application: Passenger Vehicle, Commercial Vehicle 3) By End-Use: OEM, Aftermarket

The motor vehicle seating and interior trim market consist of sales of motor vehicle seating and interior trim and related services used to increase the aesthetic appeal of the motor vehicle. The motor vehicle seating and interior trim market involve the production of motor vehicle seating, seats, seat frames, seat belts, and interior trimmings. Motor vehicle interior trim involves decorative parts such as leather seat door trims, headliners, door weather strips, sun visors, and cosmetic changes that do not add any functionality but increase the aesthetic appeal of the motor vehicle. The main types in motor vehicle seating and interior trim include motor vehicle seating and motor vehicle interior trim. The motor vehicle interior trims are referred to as the trims that are installed in a vehicle to give an aesthetic look. The various vehicles include passenger vehicles and commercial vehicles. The global motor vehicle seating and interior trim market size is expected to grow from $172.45 billion in 2021 to $192.86 billion in 2022 at a compound annual growth rate (CAGR) of 11.8%. The global motor vehicle seating and interior trim market is then expected to grow to $292.48 billion in 2026 at a CAGR of 11%. The motor vehicle seating and the interior trim market are driven by the increasing popularity of sport utility vehicle (SUV) cars. SUV cars are preferred owing to their comfortable seating and exquisite interior trim. The demand for SUVs and other luxurious cars increases the demand for improved and more aesthetically appealing vehicle seating and interior trim. In 2019, Indians purchased 21% more SUVs than in the previous year. According to a November 2019 survey, Hyundai delivered more than 51,000 units of its brand unique SUV, Hyundai Venue, in the first six months of its lifecycle, which was released on the market in May 2019. The increase in demand for SUVs around the world positively impacts the growth of vehicle seating and the interior trim market. The failure to meet the required quality standard of motor vehicle seating and interior trim parts restricts the growth of the motor vehicle seating and interior trim market. The car seats and other interior trim car parts are recalled when a manufacturer or the US National Highway Traffic Safety Administration (NHTSA) determines that a vehicle car seat or other equipment creates an unreasonable safety risk or fails to meet minimum safety standards. Such recalls costing a huge amount to the manufacturer who has to bear the loss. For instance, in 2019 Ford Motor Company announced its recall of about 550,000 trucks and SUVs in North America due to defects in seat strength and sharp edges that posed a risk of injury in a crash. To mitigate the risk of accidents, Ford dealers were directed by the manufacturer to install tape to the exposed edge, at no charge to the motor vehicle owners. Thus, the risk of failure to meet the required quality standards negatively impacts the growth of the motor vehicle seating and interior trim market. The companies in the motor vehicle seating and interior trim market are investing in the use of sustainable materials for car interior trim. To attract the buyers inclined towards using eco-friendly ways of living, the manufacturers are using sustainable options for car interior trim parts. For instance, Land Rover in 2019, introduced its new line of leather-free and fully vegan materials that are used in interior trim for its 2020 Range Rover Evoque, Range Rover Velar, and Jaguar I-Pace SUVs. Land Rover's Evoque is equipped with eucalyptus melange premium textile produced from eucalyptus fibers using less water. It also uses a premium textile, from Kvadrat, made with 53 recycled plastic bottles per car and is combined with Dinamica Miko suede cloth. In February 2020, Supreme Nonwovens Group, a Maharashtra-based automotive company acquired automotive interior trims and NVH business of Futuris Automotive for an undisclosed amount. This acquisition further reaffirms the Supreme Group's commitment to global automotive OEM customers. Futuris Automotive is a USA-based company that designs and develops JIT solutions, from initial styling concepts to large volume production for complete seating and interior trim systems. Major players in the motor vehicle seating and interior trim market are ContiTech AG, Magna International, Hyundai Mobis Co., Faurecia S.A., TATA Group, Toyoda Gosei, Johnson Controls, Faurecia S.A., Magna, and International Textile Group. Asia Pacific was the largest region in the motor vehicle seating and interior trim market in 2021. Western Europe was the second largest market in the global motor vehicle seating and interior trim market. The regions covered in the global motor vehicle seating and interior trim market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the motor vehicle seating and interior trim include Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The global motor vehicle seating and interior trim market is segmented - 1) By Type: Motor Vehicle Seating, Motor Vehicle Interior Trim 2) By Vehicle: Passenger Vehicle, Commercial Vehicle

The motor vehicle steering and suspension components market consists of sales of motor vehicle steering and suspension components (except spring) and related services which are used for keeping the wheels of the motor vehicle firmly intact with the ground. Motor vehicle steering components consist of a group of parts including the steering wheel, steering column, and shaft, tie rods, steering arms used to transmit the movement of the steering wheel to the wheels enabling the right and left movement of the wheel. The suspension components comprise tires, the air in the tires, shock absorbers, struts, arms, bars, linkages, bushings, and joints used to connect the vehicle to its wheels to allow relative motion between the two. The suspension components of a motor vehicle provide supports to the vehicle, absorb bumps and other shocks and allow the vehicle to turn in response to steering input from the drive. The main types in motor vehicle steering and suspension components are steering components, suspension components. The steering components help the driver and protect them and add a support system to the driver while driving. The various applications include commercial vehicles, passenger cars. The motor vehicle steering and suspension are used in OEM and aftermarket. The global motor vehicle steering and suspension components market size is expected to grow from $81.61 billion in 2021 to $90.71 billion in 2022 at a compound annual growth rate (CAGR) of 11.1%. The global motor vehicle steering and suspension component market is then expected to grow to $134.27 billion in 2026 at a CAGR of 10.3%. The growth of the motor vehicle steering and suspension components market is positively affected by the poor quality of roads. The steering and suspension components are used to maintain the stability of the motor vehicle through the rough roads. Rough roads with potholes and poor surface causes wear and tear of steering and suspension components in the long run thus increasing the risk of accidents. This constant wear and tear shorten their working life and increase the rate at which they need to be replaced. According to the U.S National transportation research group (TRIP), 71% of roads in the San Francisco-Oakland area were in poor condition, costing drivers an average of $1,049 in vehicle operating costs each year. The lack of standards for maintenance of roads resulting in rough roads with potholes increases the demand for motor vehicle steering and suspension components. The growth of the motor vehicle steering and suspension components market is restricted by the growing popularity of electric vehicles all over the world. The increased popularity of electric vehicles will require the motor vehicle steering and suspension system manufacturers to produce power steering and suspension systems specifically designed for the new electric vehicles. Thus, reducing the demand for motor power steering systems and suspension parts. The manufacturers will have to adapt and compete to create the parts used in driverless vehicle models. According to the International Energy Agency (IEA), there were 5 million electric passenger cars in Norway. The popularity of the electric car market is backed up by several government initiatives such as in Norway, the drivers of zero-emissions cars are not only exempted from road tax but also exempted from 25% VAT on sales, reduced road and ferry tolls and parking costs, and access to bus lanes. The overall cost for adapting to the changing demand due to the growing popularity of electric vehicles restricts the growth of the motor vehicle steering and suspension components market. The latest trend in the industry is the development of suspension systems using the new magnetic ride control (MRC or MagneRide) technology developed by General Motors (GM). The magnetic damper technology improves the performance of the suspension system and provides a smooth driving experience. The technology uses a fluid infused with magnetized particles acting as electronically-controlled shock absorbers, which respond to changing driving conditions and speed in real-time making the shock absorbers adapt to the changing terrain. Such absorbers along with the automobile sensors respond to the terrain every five milliseconds. Following the trend started by General Motors, BeijingWest Industries (BWI) Group opened a new plant in Greenfield, Indiana, in 2019, from which the company launched the fourth generation of the MagneRide suspension technology. The China-based, BeijingWest Industries Group is a supplier of brake and suspension systems. In June 2020, Bendix Corporation, American manufacturing, and engineering company acquired RH Sheppard for $149.5 million. The acquisition of RH Sheppard was transacted by Bendix Commercial Vehicle Systems LLC, Elyria, OH, which is a subsidiary of Knorr-Bremse that is part of its Commercial Vehicle Systems division. Through this acquisition, Knorr-Bremse became a leading global supplier of commercial vehicle steering systems. RH Sheppard is a USA-based company that designs and manufactures automotive products. Major players in the motor vehicle steering and suspension components market are Bosch, Hyundai, Tennaco, Denso, Hella, JTEKT, Knorr-Bremse, Nexteer Automotive, Thyssenkrupp, and ZF Friedrichshafen. Asia Pacific was the largest region in the motor vehicle steering and suspension components market in 2021. Western Europe was the second largest market in the global motor vehicle steering and suspension component market. The regions covered in the global motor vehicle steering and suspension components (except spring) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the motor vehicle steering and suspension market components include Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The global motor vehicle steering and suspension components (except spring) market is segmented - 1) By Type: Steering Components, Suspension Components 2) By Application: Commercial Vehicle, Passenger Car 3) By End-Use: OEM, Aftermarket

The motor vehicle body market consists of sales of the motor vehicle body and related services. Motor vehicle body industry establishments primarily engaged in the manufacturing of automobile bodies such as truck, bus, and coaches bodies. The main types of vehicles in the motor vehicle body are passenger vehicles, light commercial vehicles, heavy trucks, buses, and coaches. Passenger vehicles are designed and constructed for the carriage of persons and their luggage. These are used in OEM and aftermarket. The global motor vehicle body market size is expected to grow from $160.11 billion in 2021 to $178.49 billion in 2022 at a compound annual growth rate (CAGR) of 11.5%. The global motor vehicle body market size is expected to grow to $264.51 billion in 2026 at a CAGR of 10.3%. Increasing production of passenger cars, light commercial vehicles, buses, and heavy trucks is projected to contribute to higher demand for the motor vehicle body. For instance, according to Invest India, the country's annual production in FY 2021 was 22.7 million vehicles and 13 million vehicles from April to October 2021, two-wheelers and passenger cars accounted for 81.2% and 14.6% of shares respectively. Thus, an upsurge in the production of motor vehicles and rising investments are anticipated to drive the demand for motor vehicles body favoring the market’s growth. Fluctuating prices of metals such as steel, iron, and aluminum are projected to limit the growth of the motor vehicle body market. For instance, according to the pioneer data 2022, the current high prices of aluminum are at an average of $2200/t in 2021 with marginal deceleration in 2022. Iron Ore prices have increased by nearly 25 percent in Q1 2021 primarily due to unabated demand from China. Therefore, the fluctuations in the prices of metal are anticipated to hinder the growth of the motor vehicle body market in the forecast period. The automotive industry uses various structural materials including iron, steel, and other metals. Recently aluminum has been the most preferred metal in the automotive industry as a material of choice for next-gen and advanced vehicles. According to The Aluminum Association, aluminum is used predominately in the automotive industry attributing to its cost-effective, and environment-friendly way to improve efficiency and performance, reduce emissions, boost fuel efficiency while improving and maintaining durability and safety. For instance, Tata Technologies announced the collaboration with NIO China to develop NIO’s range of electric vehicles. This partnership was aimed towards the production of the first electric all-aluminum vehicle of NIO. Tata Technologies, a Tata Group company, is engaged in providing services in engineering & design, manufacturing, management, and IT services to the automotive original equipment manufacturers and their suppliers. In September 2019, Spartan Motors Inc., a North America based company, a leader in specialty vehicle manufacturing and assembly for the commercial and retail vehicle industries, acquired Royal Truck Body (Royal) for an undisclosed amount. Through this acquisition, Spartan Motors Inc. expands its manufacturing operations into Southern California, Northern California, and additional West Coast markets, advancing its U.S. footprint strategy with six additional operating facilities located in California, Arizona, and Texas. Royal Truck Body, is a California-based company, designer, manufacturer, and installer of service truck bodies and accessories. Major players in the motor vehicle body market are Motor Coach Industries International, Blue Bird Global Corporation, Gillig, Mickey Truck Bodies, Utilimaster Corporation, Morgan Truck Body, Morgan Olson, McNeilus Companies, Truck Bodies & Equipment International, and Reading Truck Body. Asia Pacific was the largest region in the motor vehicle body market in 2021. Western Europe was the second largest region in the global motor vehicle body market. The regions covered in the global motor vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the motor vehicle body market report are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA and Australia. The global motor vehicle body market is segmented - 1) By Type of Vehicle: Passenger Vehicle, Light Commercial Vehicle, Heavy Trucks, Buses, Coaches 2) By End-Use: OEM, Aftermarket

The motor vehicle parts market consists of sales of motor vehicle parts and related services by entities (organizations, sole traders, and partnerships) that produce motor vehicle gasoline engines and engine parts, motor vehicle electrical and electronic equipment, motor vehicle steering, and suspension components (except springs), motor vehicle brake systems, motor vehicle transmission, and power train parts, motor vehicle seating and interior trim, motor vehicle metal stampings, and other motor vehicle parts and accessories. This market includes sales of rebuilt motor vehicle parts. This market includes sales of both new and used vehicles. The main types in motor vehicle parts are motor vehicle body, stamped metal & other parts, motor vehicle engine, power train & parts, motor vehicle electrical & electronic equipment, steering suspension, & interiors. The motor vehicle body refers to the parts of the motor vehicle that help in certain functions they perform. The various applications include passenger vehicles, commercial vehicles. These are used in OEM and aftermarket. The global motor vehicle parts market size is expected to grow from $2,336.07 billion in 2021 to $2,572.01 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The global motor vehicle part market is expected to grow to $3,638.77 billion in 2026 at a CAGR of 9.1%. Advances in technology are expected to be a continued driver of motor vehicle parts manufacturing market growth in the forecast period. The global transport manufacturing industry has experienced many technological advances in the last decade and this trend is expected to intensify. According to Forbes, the ten new features to expect in vehicles by 2020 include autonomous driving, driver override systems, biometric vehicle access, comprehensive vehicle tracking, active window displays, remote vehicle shutdown, active health monitoring, four-cylinder supercars, smart and personalized in-car marketing and reconfigurable body panels. These innovations are expected to drive the motor vehicle parts manufacturing market during the forecast period. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the motor vehicle parts manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and spread globally including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries impose lockdowns. The outbreak is expected to continue to harm businesses throughout 2020 and into 2021. However, it is expected that the motor vehicle parts manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. The demand for electric vehicles is increasing rapidly and this is expected to disrupt the automotive value chain. Engines of electric vehicles are less complicated than their gasoline counterparts, thus requiring fewer replacement parts over the lifetime of a car. Electrification of cars also means that components such as air-conditioning units, water pumps, brakes, and steering systems will need to be adapted and designed to meet the requirements of electric cars. Since electric vehicles are manufactured with one-third the number of internal combustion engine (ICE) cars' components, less collaboration will be required between an automaker and parts suppliers. This will decrease vehicle-to-component calibration, thus allowing parts suppliers to develop products with more autonomy. According to a report by EY firm, electric vehicles transformation in India may affect existing automobile spare part sales as EVs are built with 20 moving parts while vehicles equipped with internal combustion engines have around 200 spare parts. Major companies in the motor vehicle parts market include EXOR Group, Denso Corp, General Motors Co, Robert Bosch GmbH, Aisin Seiki Co Ltd, Continental AG, Fiat Chrysler Automobiles NV, Magna International Inc, Toyota Motor Corp, and SAIC Motor Co ltd. Asia Pacific was the largest region in the motor vehicle parts market in 2021. Western Europe was the second largest market in global motor vehicle parts market. The regions covered in the global motor vehicle part market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries in the motor vehicle market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippine, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global motor vehicle parts market is segmented - 1) By Type: Motor Vehicle Body, Stamped Metal and Other Parts, Motor Vehicle Engine, Power Train and Parts, Motor Vehicle Electrical and Electronic Equipment, Steering Suspension, and Interiors 2) By Application: Passenger Vehicle, Commercial Vehicle 3) By End-Use: OEM, Aftermarket Subsegments Covered: Motor Vehicle Body, Stamped Metal, Other Parts, Vehicle Engine and Engine Parts, Power Train and Power Train Parts, Motor Vehicle Electrical and Electronic Equipment, Motor Vehicle Steering and Suspension Components (except Spring), Motor Vehicle Seating and Interior Trim

The motor vehicle market consists of sales of motor vehicles or motor vehicle chassis and related services by entities (organizations, sole traders, and partnerships) that produce complete automobiles, light-duty motor vehicles, and heavy-duty trucks (i.e., body and chassis or unibody) or produce motor vehicle chassis only. The main types in the motor vehicle market are motorcycle and bicycle, passenger car, commercial vehicle. A commercial vehicle refers to a vehicle that is used for commercial purposes. The various fuel types include gasoline, diesel, other fuel types. These have engine capacity of <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc. These have propulsion types such as ic engine, and electric vehicle. The global motor vehicles market size is expected to grow from $2,154.31 billion in 2021 to $2,401.7 billion in 2022 at a compound annual growth rate (CAGR) of 11.5%. The global motor vehicle market size is expected to grow to $3,565.82 billion in 2026 at a CAGR of 10.4%. The motor vehicle market is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021.Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments at the end-user markets, thereby driving the motor vehicle market during the forecast period. The outbreak of the Coronavirus disease (COVID-19) has acted as a massive restraint on the motor vehicles market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and spread globally including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries impose lockdowns. The outbreak is expected to continue to hurt businesses throughout 2020 and into 2021. However, it is expected that the motor vehicles market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Motor vehicle manufacturers, especially car manufacturers, are increasingly focusing on the commercialization of cars with active window displays. The active window displays will show all key driving information on the windshield. It shows information such as navigation instructions, fuel levels information, vehicle speed, and other information. Some car manufacturers are also offering technologies that can be fixed on the dashboard of a car. For instance, during the Consumer Electronics Show (CES) 2019, some of the car manufacturers such as Hyundai and Mercedes-Benz showcased their Augmented Reality cockpits prototypes which are very similar to the active windows display. Major companies in the motor vehicle market include Volkswagen AG, Toyota Motor Corp, Daimler AG, Ford Motor Co, Honda Motor Co Ltd, Fiat Chrysler Automobiles NV, SAIC Motor Co ltd, EXOR Group, Bayerische Motoren Werke AG, and Hyundai Motor Co Ltd. Asia Pacific was the largest region in the motor vehicles market in 2021. North America was the second largest market in the global motor vehicles market. The regions covered in the global motor vehicles market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries in the motor vehicles market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global motor vehicles market is segmented - 1) By Type: Motorcycle And Bicycle, Passenger Car, Commercial Vehicle 2) By Fuel Type: Gasoline, Diesel, Others 3) By Engine Capacity: <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc 4) By Propulsion Type: IC Engine, Electric Vehicle Subsegments Covered: Motorcycles and Parts, Bicycles and Parts, Motor Scooters, Other Motorcycle and Bicycle, Hatchback, Sedan, Utility Vehicle, Light Commercial Vehicle, Heavy Trucks, Buses and Coaches

The motor vehicle engine, power train, & parts market consists of sales of motor vehicle engines, power train, & parts and related services by entities (organizations, sole traders, and partnerships) that produce and/or rebuild motor vehicle transmissions and power train parts. The main types in the motor vehicle engine, power train, & parts are vehicle engine and engine parts, power train, and power train parts. The vehicle engine and engine parts refer to the vehicle engine parts that are used in motor vehicles. The various applications include passenger vehicles, commercial vehicles. These are used in OEM and aftermarket. The global motor vehicle engine, power train & parts market size is expected to grow from $715.33 billion in 2021 to $784.72 billion in 2022 at a compound annual growth rate (CAGR) of 9.7%. The global motor vehicle engine and parts market size is expected to grow to $1,093.23 billion in 2026 at a CAGR of 8.6%. The motor vehicle engine, power train & part market is aided by stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments at the end-user markets, thereby driving the market during the forecast period. The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the motor vehicle engine, power train & parts market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to declining in consumer demand as many countries impose lockdowns. The outbreak continued to hurt businesses throughout 2020 and into 2021. However, it is expected that the motor vehicle engine, power train & parts market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Motor vehicle parts manufacturers are using IoT to reduce unscheduled downtimes, thereby increasing operational efficiency. IoT is a system of "connected devices" with the ability to collect and exchange data over a network without any human intervention and assistance. IoT helps motor vehicle parts manufacturers to increase their efficiency by providing real-time information about production processes. In addition, IoT can be used by automobile parts manufacturers to obtain wear and tear data that can prevent equipment failures. For instance, German car parts maker Robert Bosch signed an agreement with software company SAP to connect its manufacturing machinery, tools, and vehicles to SAP's back-end software. This IoT technology uses SAP's real-time database HANA to monitor and support the production of automobile parts. The global automotive IoT market is expected to reach 106.32 billion by 2023. According to IDC and SAP, 60 % of global manufacturers use analytics data tracked from IoT-connected devices to analyze the manufacturing processes. Major companies in the motor vehicle, engine, powertrain, and parts market include EXOR Group, Robert Bosch GmbH, Aisin Seiki Co Ltd, Toyota Motor Corp, Denso Corp, Schaeffler Technologies AG & Co KG, Continental AG, Gestamp Automoción, Tata Motor Group, and Dana Incorporated. Asia Pacific was the largest region in the motor vehicle engines, power trains, & parts market in 2021. Western Europe was the second largest market in the global motor vehicle engine, power train & parts market. The regions covered in the global motor vehicle engine, power train and parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries covered in the motor vehicle engines, power trains, & parts markets are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global motor vehicle engine, power train & parts market is segmented - 1) By Type: Vehicle Engine and Engine Parts, Power Train and Power Train Parts 2) By Application: Passenger Vehicle, Commercial Vehicle 3) By End-Use: OEM, Aftermarket

The motor vehicle body, stamped metal, & other parts market consists of sales of motor vehicle bodies, stamped motor vehicle metals, & other motor vehicle parts and related services by entities (organizations, sole traders, and partnerships) that produce motor vehicle stampings, such as fenders, tops, body parts, trim, and moldings or produce and/or rebuild motor vehicle parts and accessories (except motor vehicle gasoline engines and engine parts, motor vehicle electrical and electronic equipment, motor vehicle steering and suspension components, motor vehicle brake systems, motor vehicle transmissions, and power train parts, motor vehicle seating and interior trim, and motor vehicle stampings). The main types in the motor vehicle body, are stamped metal, & other parts of the motor vehicle body, stamped metal, other parts. Stamped metal refers to metal stamping Is utilized in auto parts manufacturing, it is a cost-effective fast, and versatile manufacturing method. The various applications include passenger vehicles, commercial vehicles. These are used OEM, aftermarket. The global motor vehicle body, stamped metal & other parts market size is expected to grow from $1,213.62 billion in 2021 to $1,332.74 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The global motor vehicle parts market is expected to grow to $1,860.64 billion in 2026 at a CAGR of 8.7%. Advances in technology are expected to be a continued driver of market growth in the forecast period. The motor vehicle body, metal stamping & other parts industry has experienced many technological advances in the last decade and this trend is expected to intensify. According to Forbes, the ten new features to expect in vehicles by 2020 include autonomous driving, driver override systems, biometric vehicle access, comprehensive vehicle tracking, active window displays, remote vehicle shutdown, active health monitoring, four-cylinder supercars, smart and personalized in-car marketing and reconfigurable body panels. These innovations are expected to drive the motor vehicle body, metal stamping & other parts market during the forecast period. The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the motor vehicle body, metal stamping & other parts market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries impose lockdowns. The outbreak continued to hurt businesses throughout 2020 and into 2021. However, it is expected that the motor vehicle body, metal stamping & other parts market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy. Motor vehicle parts manufacturers are using IoT to reduce unscheduled downtimes, thereby increasing operational efficiency. IoT is a system of "connected devices" with the ability to collect and exchange data over a network without any human intervention and assistance. IoT helps motor vehicle parts manufacturers to increase their efficiency by providing real-time information about production processes. In addition, IoT can be used by automobile parts manufacturers to obtain wear and tear data that can prevent equipment failures. For instance, German car parts maker Robert Bosch signed an agreement with software company SAP to connect its manufacturing machinery, tools, and vehicles to SAP's back-end software. This IoT technology uses SAP's real-time database HANA to monitor and support the production of automobile parts. The global automotive IoT market is expected to reach 106.32 billion by 2023. According to IDC and SAP, 60 % of global manufacturers use analytics data tracked from IoT-connected devices to analyze the manufacturing processes. Major companies in the motor vehicle body, stamped metal, & other parts market include General Motors Co, Tenneco Inc, Magna International Inc, Lear Corp, Faurecia SA, Continental AG, Mitsubishi Motors Corp, Plastic Omnium SA, Autoliv Inc, and Aisin Seiki Co ltd. Asia Pacific was the largest region in the motor vehicle body, stamped metal, & other parts market in 2021. Western Europe was the second largest market in the global motor vehicle body, stamped metal & other parts market. The regions covered in the global motor vehicle body, stamped metal and other parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries covered in motor vehicle body, stamped metal, & other parts market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The global motor vehicle body, stamped metal & other parts market is segmented - 1) By Type: Motor Vehicle Body, Stamped Metal, Other Parts 2) By Application: Passenger Vehicle, Commercial Vehicle 3) By End-Use: OEM, Aftermarket