$1.9tr
$XXX.Xbn
7m
15,936
$XXX.Xbn
Revenue for the auto parts and accessories manufacturers has decreased at a CAGR of 6.3% over the past five years and is expected to total $1.9 trillion in 2023, when profit is set to drop to 5.3%. This includes a forecast stagnation in 2023 amid rising interest rates in many countries, which has discouraged new car sales. Despite this, the auto parts aftermarket has helped generate revenue as average vehicle ages have increased. Demand for this segment tends to rise with the number of vehicles in use, and as more individuals take to the roads, demand for replacement parts increases.
Industry revenue has declined at a CAGR of 6.3 % over the past five years, to reach an estimated $1.9tr in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Robert Bosch GmbH | 49.8 | N/A | N/A | |
DENSO Corporation | 30.7 | N/A | N/A | |
Continental AG | 15.3 | N/A | N/A |
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Industry revenue is measured across several distinct product and services lines, including Electrical systems, Steering, suspensions and wheels and Brake systems. Electrical systems is the largest segment of the Global Auto Parts & Accessories Manufacturing.
Exhaust, airbag and HVAC systems are likely to face change
Companies in this industry manufacture motor vehicle parts and accessories other than engines, engines parts, batteries, bodies and chassis. Motor vehicle assembling is not included in this industry. Manufacturers typically supply parts and accessories to original equipment manufacturers (OEM) for use in the manufacturing of complete motor vehicles or for replacement parts in OEM dealerships. They also supply parts to the aftermarket.
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Seaport congestion has created shortages and delays in production. The global supply chain isn't fully recovered despite the world settling back to normal from the COVID-19 p...
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There are two main types of motor vehicle parts and accessories: those destined for original equipment manufacturers and parts destined for the aftermarket. Original equipmen...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Global auto sales are reflective of auto parts manufacturers' primary markets. North Asia is the fastest-growing region, with China and South Korea leading in growth rates, w...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Manufacturers carry a low level of market share concentration, characterized by numerous industry players that satisfy local and regional demand. Large companies all maintain...
Learn about the performance of the top companies in the industry.
Manufacturing auto parts and accessories is fragmented in nature, which makes it so there aren't major players. The other companies have less than 5.0% market share.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Manufacturers are subject to a medium level of regulation. These regulations are subject to frequent review by applicable regulatory authorities and other governmental entiti...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Parts manufacturers generally have low profit. This is due to the high level of competition stemming from many competitors and pressures from automakers for lower priced prod...
Including values and annual change:
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The market size of the Global Auto Parts & Accessories Manufacturing industry in Global is $1.9tr in 2024.
There are 15,936 businesses in the Global Auto Parts & Accessories Manufacturing industry in Global, which has declined at a CAGR of 7.8 % between 2018 and 2023.
The market size of the Global Auto Parts & Accessories Manufacturing industry in Global has been declining at a CAGR of 6.3 % between 2018 and 2023.
Over the next five years, the Global Auto Parts & Accessories Manufacturing industry in Global is expected to grow.
The biggest companies operating in the Global Auto Parts & Accessories Manufacturing market in Global are Robert Bosch GmbH, DENSO Corporation and Continental AG
Motor vehicle electrical and electronic part manufacturing and Motor vehicle steering and suspension part manufacturing are part of the Global Auto Parts & Accessories Manufacturing industry.
The company holding the most market share in Global is Robert Bosch GmbH.
The level of competition is high and increasing in the Global Auto Parts & Accessories Manufacturing industry in Global.