Auto Parts Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2021-2025
Recovery and Growth Insights for 2021-2025
The auto parts market and it is expected to grow by $ 299.98 bn, accelerating at a CAGR of almost 2.99% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to enable growth projections and insights. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects.
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Auto Parts Market: Market Segments and Key Trends
The research report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth. The market is segmented by End-user (OEM and Aftermarket) and Geography (North America, Europe, APAC, South America, and MEA). 60% of the market growth will originate from APAC during the forecast period. However, counterfeiting of auto components is one of the challenges that will need to be overcome to drive growth.
Auto Parts Market: Leading Factors to Drive Market Growth
The Advanced technology usage in auto parts fabrication is one of the primary factors driving the growth of the auto parts market. The report provides a detailed study of all the factors that are likely to boost the market. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals.
Auto Parts Market: Vendor Analysis
The market is fragmented. The research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. 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 are some of the major market participants.
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Auto Parts Market: Key Highlights of the Report for 2021-2025
The report provides insights into the following FAQs: