Auto Parts Market is expected to grow at a CAGR of 2.99% by 2025|Technavio

NEW YORK, Oct. 5, 2021 /PRNewswire/ — The auto parts market is set to grow by $ 299.98 billion from…

NEW YORK, Oct. 5, 2021 /PRNewswire/ — The auto parts market is set to grow by $ 299.98 billion from 2021 to 2025, progressing at a CAGR of 2.99%. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

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The auto parts market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The advanced technology usage in auto parts fabrication, surge in consumer and passenger automobile production, and digitalization of automotive repair and maintenance services will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Auto Parts Market 2021-2025: Segmentation

  • End-user
    • OEM
    • Aftermarket
  • Geography
    • North America
    • Europe
    • APAC
    • South America
    • MEA

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Auto Parts Market 2021-2025: Vendor Analysis and Scope

To help businesses improve their market position, Technavio’s report provides a detailed analysis of vendors operating in the market. Some of the major vendors of the auto parts market include 3M Co., Continental AG, Cooper Tire and Rubber Co., Delphi Technologies Plc, DENSO Corp., General Motors Co., Marelli Holdings Co. Ltd., Robert Bosch GmbH, Tenneco Inc., and ZF Friedrichshafen AG.

The report also covers the following areas:

The advanced technology usage in auto parts fabrication will offer immense growth opportunities. However, counterfeiting of auto components will hamper market growth.

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Auto Parts Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist auto parts market growth during the next five years
  • Estimation of the auto parts market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the auto parts market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of auto parts market vendors

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Auto Parts Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 2.99%

Market growth 2021-2025

$ 299.98 billion

Market structure

Fragmented

YoY growth (%)

2.82

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

APAC at 60%

Key consumer countries

US, China, Germany, Japan, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

3M Co., Continental AG, Cooper Tire and Rubber Co., Delphi Technologies Plc, DENSO Corp., General Motors Co., Marelli Holdings Co. Ltd., Robert Bosch GmbH, Tenneco Inc., and ZF Friedrichshafen AG

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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