Auto Parts And Accessories Market by Type, Distribution Channel, Vehicle Type

Description

List of Tables

[189 Pages Report] The Auto Parts And Accessories Market size was estimated at USD 177.25 billion in 2023 and expected to reach USD 186.38 billion in 2024, at a CAGR 5.26% to reach USD 253.89 billion by 2030.

The auto parts and accessories sector encompasses components that are essential for the manufacturing, maintenance, improvement, and safety of motor vehicles. This includes both original equipment manufacturer (OEM) parts and aftermarket parts, ranging from engine and transmission components to electronics, body parts, tires, and interior accessories. These components are critical to the vehicle's performance, appearance, safety, and efficiency. The integration of advanced automotive technologies such as advanced driver-assistance systems (ADAS) and IoT connectivity in vehicles drives demand for sophisticated auto parts and accessories compatible with these new technologies. Economic growth and increasing consumer purchasing power have led to a surge in vehicle ownership and, consequently, a greater demand for auto parts and accessories for both manufacturing and maintenance. Moreover, the increasing average age of vehicles on the road, coupled with a rising preference for vehicle longevity and customization. The presence of counterfeit auto parts in the market poses a significant challenge by affecting the sales of genuine parts manufacturers and potentially compromising vehicle safety. Furthermore, with vehicles becoming more technologically advanced, ensuring compatibility and seamless integration of aftermarket parts with existing systems can pose challenges, affecting the overall vehicle performance. However, key players are exploring advanced technologies to improve the quality and safety of auto parts and accessories and investing in collaborative strategies to create compatible and customizable auto products. The global shift towards electric, hybrid, and autonomous vehicles opens up new avenues for manufacturers to develop and supply electric drivetrains, battery systems, and other related components.

KEY MARKET STATISTICS
Base Year [2023]	USD 177.25 billion
Estimated Year [2024]	USD 186.38 billion
Forecast Year [2030]	USD 253.89 billion
CAGR (%)	5.26%

Regional Insights

The Americas region, particularly the United States and Canada, demonstrates a robust demand for aftermarket auto parts and accessories, driven by a culture of vehicle customization and an aging vehicle fleet. The United States holds a significant position in the global market, with consumers demonstrating a high propensity for aftermarket customization, performance parts, and regular maintenance. Canada shows similar trends with a steady demand for auto parts and accessories, driven by harsh weather conditions that necessitate regular vehicle maintenance and parts replacement. Investments in the Americas are predominantly in the areas of e-commerce platforms for auto parts, advanced driver-assistance systems (ADAS), and green technologies. Recent patents include advancements in autonomous vehicle technologies, ADAS components, and innovative materials for improved vehicle performance. EU Countries are at the forefront of adopting stringent environmental regulations, driving the demand for green and sustainable auto parts. The push for electrification and reduction in emissions has led to significant investments in electric and hybrid vehicle parts. Furthermore, the presence of stringent regulations pertaining to the fabrication, performance, and safety of auto parts and accessories creates a highly standardized framework for driving innovations in the EU. The Asia Pacific region is characterized by increasing vehicle production, rising consumer demand for aftermarket services, and a growing emphasis on vehicle personalization and customization. China is leading the Asia Pacific market due to its expansive automotive manufacturing base and a burgeoning middle class with an increasing appetite for aftermarket products. Japan, known for its technological advancements, is focusing on the development of energy-efficient and environmentally friendly auto components.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Auto Parts And Accessories Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Continous growth of the automotive industry with increasing population
- Increase in scrapping of old motor vehicles and engines

Market Restraints
- High costs associated with the manufacturing of auto parts and accessories

Market Opportunities
- Rising government initiatives for manufacturing new vehicles with lower fuel consumption and carbon emissions
- Increasing demand for starting, light, and Ignition batteries (SLI)

Market Challenges
- Availability of low-cost alternatives and counterfeit products

Market Segmentation Analysis
- Type: Fundamental role of engine systems in enabling vehicle operation, fuel efficiency, and emission control
- Distribution Channel: Emerging preference for original equipment manufacturers(OEM) due to compatibility and quality assurance

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Auto Parts And Accessories Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Auto Parts And Accessories Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Strategic Partnership Between Pricol Ltd and Heilongjiang Tianyouwei Electronics Enhances Driver Information Systems

Pricol Ltd., collaborating with Heilongjiang Tianyouwei Electronics, focuses on the co-development and supply of advanced Driver Information Systems (DIS), including the e-cockpit and heads-up display units, aimed at revolutionizing vehicle segments. Under this collaboration, Pricol Ltd procures components and sub-assemblies from Heilongjiang Tianyouwei Electronics, leveraging the latter's technological expertise to bolster its dominant stance in the DIS domain within the Indian market. The cooperation agreement underscores a mutual commitment to exclusivity in project collaborations, setting a remarkable precedent for enhancing the driving experience through state-of-the-art technological advancements. [Published On: 2023-10-11]

Strategic Partnership between TotalEnergies Marketing USA and Automotive Parts Services Group Bolsters North American Aftermarket Services

TotalEnergies established a significant partnership with the Automotive Parts Services Group (APSG) to enhance its offerings to customers through the supply of superior lubricants coupled with technical support across the Group's expansive network, which has over 5,500 locations throughout North America. This strategic alliance marries TotalEnergies' global expertise and comprehensive product range-including Hi-Perf Motorcycle Engine Oil, Quartz Engine Oil, Rubia Heavy Duty Engine Oil, Kleenmold Glass Lubricants, and TotalEnergies Industrial Lubricants-with APSG's robust distribution capabilities and market presence. [Published On: 2023-09-25]

Strategic Alliance Elevates Heavy-Duty Air Filtration Accessibility: Donaldson Teams Up with NAPA Auto Parts

Donaldson Company, Inc. collaborated with NAPA Auto Parts, a premier distributor of automotive replacement parts and accessories. This collaboration entails Donaldson providing its state-of-the-art heavy-duty air filtration products to the NAPA Gold product line across the United States. Given their complementary market presence, both organizations anticipate this alliance benefits their customer base. Angie Zurick of Donaldson highlights the commitment to addressing customer filtration challenges through advanced solutions. [Published On: 2023-08-10]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Auto Parts And Accessories Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Auto Parts And Accessories Market, highlighting leading vendors and their innovative profiles. These include AISIN Corporation, Autoliv Inc., BASF SE, BorgWarner Inc., Continental AG, DENSO Corporation, Faurecia SE, Gestamp Automocion, S.A., Hitachi, Ltd., Huayu Automotive Systems Co., Ltd., Hyundai Motor Group, JTEKT Corporation, Lear Corporation, Magna International Inc., MAHLE GmbH, Marelli Holdings Co., Ltd., Panasonic Holdings Corporation, Robert Bosch GmbH, Samvardhana Motherson Auto System Pvt Ltd, Schaeffler AG, Sumitomo Electric Industries, Ltd., thyssenkrupp AG, Toyoda Gosei Co., Ltd., Toyota Motor Corporation, Valeo SA, Yazaki Corporation, and ZF Friedrichshafen AG.

Market Segmentation & Coverage

This research report categorizes the Auto Parts And Accessories Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Body Systems
- Engine Systems
- Entertainment & Communication System
- Power-Transmission Systems
- Special Purpose Vehicle Parts & Accessories
- Vehicle Security & Safety

Distribution Channel
- Aftermarket
- OEM

Vehicle Type
- Commercial
- Passenger

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-69324464D283

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Continous growth of the automotive industry with increasing population
  - 5.1.1.2. Increase in scrapping of old motor vehicles and engines
- 5.1.2. Restraints
  - 5.1.2.1. High costs associated with the manufacturing of auto parts and accessories
- 5.1.3. Opportunities
  - 5.1.3.1. Rising government initiatives for manufacturing new vehicles with lower fuel consumption and carbon emissions
  - 5.1.3.2. Increasing demand for starting, light, and Ignition batteries (SLI)
- 5.1.4. Challenges
  - 5.1.4.1. Availability of low-cost alternatives and counterfeit products
5.2. Market Segmentation Analysis
- 5.2.1. Type: Fundamental role of engine systems in enabling vehicle operation, fuel efficiency, and emission control
- 5.2.2. Distribution Channel: Emerging preference for original equipment manufacturers(OEM) due to compatibility and quality assurance
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Auto Parts And Accessories Market, by Type

6.1. Introduction
6.2. Body Systems
6.3. Engine Systems
6.4. Entertainment & Communication System
6.5. Power-Transmission Systems
6.6. Special Purpose Vehicle Parts & Accessories
6.7. Vehicle Security & Safety

7. Auto Parts And Accessories Market, by Distribution Channel

7.1. Introduction
7.2. Aftermarket
7.3. OEM

8. Auto Parts And Accessories Market, by Vehicle Type

8.1. Introduction
8.2. Commercial
8.3. Passenger

9. Americas Auto Parts And Accessories Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Auto Parts And Accessories Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Auto Parts And Accessories Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Strategic Partnership Between Pricol Ltd and Heilongjiang Tianyouwei Electronics Enhances Driver Information Systems
- 12.3.2. Strategic Partnership between TotalEnergies Marketing USA and Automotive Parts Services Group Bolsters North American Aftermarket Services
- 12.3.3. Strategic Alliance Elevates Heavy-Duty Air Filtration Accessibility: Donaldson Teams Up with NAPA Auto Parts
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio