Auto Components Market Size, Share, Growth, and Industry Analysis, By Type (flywheel, pressure plate and clutch), By Downstream Industry (passenger cars (PC), light commercial vehicles (LCV) and heavy commercial vehicles (HCV)) and Regional Forecast to 2032

AUTO COMPONENTS MARKET REPORT OVERVIEW

The global auto components market size was USD 31.73 billion in 2024 and the market is projected to touch USD 36.15 billion by 2032, exhibiting a CAGR of 1.88% during the forecast period.

The vehicle additives list consists of a large number of products ranging from engines, transmissions, brakes, electronics, and other essential products in automotive production and upgrade. It is driven through the expansion of the automobile firm, the technological improvements within the enterprise, coupled with an increased demand for electrical and automated automobiles. The main factors explainable for the marketplace embrace emission rules, the mad scurry for gas performance, and increase in automobile production all over the world. Strategies such as innovation, competitive quality, and increased strategic partnerships are adopted by the major gamers in order to maintain competitiveness.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Manufacturing Unit Shutdowns and Reduced Purchaser Call For

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic appreciably disrupted the auto components market growth due to deliver chain interruptions, manufacturing unit shutdowns, and reduced purchaser call for. Lockdowns and travel restrictions caused a decline in automobile manufacturing and sales, impacting the demand for car additives. Many manufacturers faced demanding situations in sourcing raw substances and keeping workforce stages. However, the market has proven resilience, with a slow restoration pushed by means of the resurgence of the automotive enterprise, elevated consciousness on electric powered vehicles, and the adoption of superior technologies. The pandemic also expanded the shift in the direction of digitalization and automation inside the enterprise.

LATEST TRENDS

"Movement Towards Eco-Friendly Manufacturing Processes to Boost the Market Demand"

Auto components market is observed to be progressing at fast pace with the help of electric motors (EVs) and autonomous use technologies. The trends can be narrowing down the reliance on heavy metals, using lightweight materials to help improve the efficiency of gasoline, the use of superior electronics to improve protection and connectivity, and the movement in the automotive industry towards more eco-friendly manufacturing processes. As the instance of EVs is lifting social demand, the obligations for special components including batteries and charging systems are also growing. Besides, smart sensors and artificial intelligence pushed technologies are becoming vital to foster a self-sustainable car structure. These tendencies are changing the market perspective, putting pressure on creating new products and diversifying to answer the new consumers’ and regulation expectancies.

AUTO COMPONENTS MARKET SEGMENTATION

By Type

Based on type the market can be categorized into flywheel, pressure plate and clutch.

• Flywheel: The flywheel is a heavy, rotating disk that is attached to the engine's crankshaft. Its primary function is to keep rotational electricity and hold the engine's momentum among strength strokes. This facilitates smooth out the engine's strength transport and reduces vibration.
• Pressure Plate: The strain plate is a critical issue of the grab gadget. It is installed to the flywheel and applies stress to the grab disc, which engages and disengages the engine from the transmission.
• Clutch: The take hold of is a tool that connects and disconnects the engine's energy to the transmission. It includes several components, together with the seize disc, pressure plate, and release bearing.

By Downstream Industry

Based on downstream industry the market can be categorized into passenger cars (PC), light commercial vehicles (LCV) and heavy commercial vehicles (HCV).

• Passenger Cars (PC): Passenger vehicles power demand for a extensive variety of additives consisting of engines, transmission structures, braking structures, suspension additives, lighting systems, infotainment systems, and protection features such as airbags and advanced driving force-help systems (ADAS).
• Light Commercial Vehicles (LCV): LCVs require components focused on sturdiness and utility, such as sturdy suspension structures, cargo managing device, and superior braking structures. Components related to fuel efficiency and emissions manage are also important because of the industrial use of those cars.
• Heavy Commercial Vehicles (HCV): HCVs require specialized components including heavy-responsibility engines, transmission structures, suspension structures designed for high hundreds, advanced braking structures, and robust chassis components. They also need additives related to lengthy-distance travel, which includes stepped forward cooling structures and gasoline management systems.

DRIVING FACTORS

"Increasing Automotive Aftermarket Region Plays a Vital Role in Market Boom"

The increasing automotive aftermarket region plays a vital role in the boom of the car components market. As cars age, the want for renovation, repairs, and substitute elements increases, fueling demand for aftermarket components. This zone consists of a extensive variety of products, which includes filters, brake pads, batteries, and lighting fixtures structures. The upward thrust in automobile possession and the growing attention on extending vehicle lifespan similarly force aftermarket income. Additionally, tendencies such as customization and improvements make a contribution to the world's growth, supplying opportunities for producers and suppliers to innovate and cater to evolving customer choices.  

"Rapid Urbanization and Infrastructure Improvements in Growing Areas to Appreciably Ride the Market Growth"

Rapid urbanization and infrastructure improvements in growing areas are appreciably riding the car additives market. As cities make bigger and modernize, the demand for motors grows, leading to higher automobile ownership and multiplied usage. This surge in automobile numbers boosts the want for various automobile additives, from engines and transmission systems to safety features and infotainment structures. Improved street networks and more advantageous public infrastructure further support this boom by means of making vehicle transportation greater efficient. Consequently, auto issue manufacturers enjoy expanded call for, riding innovation and enlargement to satisfy the evolving needs of these rising markets.

RESTRAINING FACTOR

"Volatility in Raw Material Expenses to Obstruct the Market Expansion"

Volatility in raw material expenses, inclusive of steel, aluminum, and rubber, considerably influences automobile component manufacturers. Fluctuations in these prices can cause unpredictable manufacturing prices, affecting profit margins and economic balance. Steel and aluminum, important for automobile systems and components, have skilled fee swings because of supply chain disruptions and geopolitical elements. Similarly, rubber, critical for tires and seals, has seen charge volatility driven via adjustments in oil charges and supply-call for imbalances. Manufacturers may conflict to hold solid pricing for their merchandise, leading to potential price increases for customers or decreased profitability. Managing these fluctuations often requires strategic sourcing, lengthy-term contracts, or rate modifications to mitigate unfavorable consequences on their economic performance.

AUTO COMPONENTS MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America to Dominate the Market due to Sturdy Car Enterprise and Superior Technological Infrastructure"

North America dominates the auto components market share because of its sturdy car enterprise, superior technological infrastructure, and sizeable funding in research and improvement. The area is home to major automotive manufacturers and suppliers, using call for awesome components. The presence of leading car companies and a robust supply chain network further bolster its marketplace function. Additionally, North America's focus on innovation, inclusive of electric and self-reliant vehicles, enhances its market dominance. The high customer shopping power and stringent rules for vehicle protection and performance also make a contribution to the vicinity's leading role in the worldwide automobile additives marketplace.

KEY INDUSTRY PLAYERS

"Key Players Offers Complete Range of Car Components and Gives Modern- Day Answers for Care Safety and Performance"

The vehicle additives market is pushed through key industry players together with Robert Bosch GmbH, Denso Corporation, Magna International Inc., Continental AG, and ZF Friedrichshafen AG. Robert Bosch GmbH is a main supplier of automobile additives. Denso Corporation makes a specialty of advanced car technology. Magna International Inc. offers a complete range of car components. Continental AG gives modern-day answers for car safety and performance. ZF Friedrichshafen AG, is understood for its transmission systems and chassis era. These groups are pivotal in shaping the car additives landscape globally.

List of Market Players Profiled

• Continental AG(Germany)
• Magna International Inc. (Canada)
• Aptiv PLC(Ireland)
• Valeo (France)
• Denso Corporation (Japan)
• ZF Friedrichshafen AG(Germany)
• Robert Bosch GmbH (Germany)
• Magneti Marelli S.p.A. (Italy)
• Faurecia (France)
• Akebono Brake Industry Co., Ltd. (Japan)

INDUSTRIAL DEVELOPMENT

September,2021: Valeo made a bid to acquire Siemens’ 50% interest in the electrical-car components venture for 277 million Euros (USD 317 million). This strategic circulate objectives to consolidate Valeo’s reputation within the quickly increasing electric vehicle (EV) sector. This timetable, which highlights the organization’s consistency with its focus on developing EV abilities for Valeo, will raise the French enterprise’s net debt by 741 million euros. The acquisition also emphasizes the corporation’s dedication to innovation and the marketplace in the EV section, and they’re organizing to achieve greater marketplace competition because the automobile corporation is changing to environmentally friendly and electric technologies.

REPORT COVERAGE

This file offers an insightful overview of the worldwide car components market, analyzing it by product type, downstream enterprise, and area. It offers key data factors inclusive of sales, revenue, and growth costs, explaining the contemporary status and future tendencies of the market and its sub-segments. The market is segmented into numerous product kinds, consisting of engine elements, electric components, drivetrain additives, and others, serving downstream industries such as passenger automobiles, business cars, and electric powered automobiles. Regional evaluation covers North America, Europe, Asia-Pacific, and other key areas, highlighting their precise market dynamics. Despite demanding situations such as economic uncertainties, stringent guidelines, and deliver chain disruptions, the market is poised for growth driven with the aid of technological advancements and increasing car manufacturing. The record offers these insights in an intuitive layout, aiding stakeholders in making informed choices.