Automotive Body Parts Market
Automotive Body Parts Market Global Industry Assessment & Forecast
- By Product Types Automotive Sunroof, Windshield Wiper, Door Lock, Exterior Rearview Mirror, Door Handle, Roof Rack, Other
- By End-user OEM, Aftermarket
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||428.12 Billion|
|Revenue 2028:||590.43 Billion|
|Revenue CAGR (2021 - 2028):||4.10%|
|Fastest Growing Region (2022 - 2028)||Asia Pacific|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request Customization Speak To Analyst
Research Methodology: Automotive Body Parts Market - Global Market Assessment, 2021 - 2028
Automotive Body Parts Market study involves the combination of secondary and primary research for data collection and utilizes a robust and veracious methodology to attain results on quantitative and qualitative analysis for specific market research studies. Moreover, Vantage Market Research utilizes tried and tested approaches to arrive at market-related projections. The research methodology is based on the 3-dimensional model consisting of 3 phases namely: Secondary Research, Primary Research, and Data Triangulation. After the exhaustive secondary research, the procured information is revalidated through primary research.
The primary research was conducted to gather further information and revalidate the data collected from the secondary research. Moreover, primary research is also conducted to identify key players in the market and to gather their market-specific financial information. A typical primary interview fulfills data requirements pertaining to first-hand information on global market size, regional and segmental trends, competitive landscape expertise development, and market understandings among others.
Data Triangulation and Market Size Estimations
Top-down and bottom-up approaches are used to validate and estimate the market size of the Automotive Body Parts market. After the determination of the overall market size, the market is divided into various segments and sub-segments. Moreover, these same approaches mentioned above were used to derive and estimate market numbers for mentioned segments/sub-segments in the market. The data was triangulated by employing various data models and statistical techniques to arrive at exact statics and market size for each segment/sub-segment of the market. Moreover, region-wise product mapping analysis was used to gain some more insights on the competitive trend in the global Automotive Body Parts market.
Frequently Asked Question
The global Automotive Body Parts valued at 428.12 Billion in 2020 and is expected to reach 590.43 Billion in 2028 growing at a CAGR of 4.10%%.
The prominent players in the market are MEKRA Lang, Thule, ALPHA Corporation, U-Shin, Trico, JAC Products, Huf Group, Inalfa, Aisin, Gentex, SL Corporation, Mitsuba, Valeo, VAST, Magna, Murakami Kaimeido, Ficosa, Denso, FIAMM, Yachiyo Industry, Mobitech, Webasto, Federal-Mogul, Kiekert, SMR, Bosch, ITW Automotive, Hella, Inteva, Mitsui Kinzoku..
The market is project to grow at a CAGR of 4.10%% between 2021 and 2028.
The driving factors of the Automotive Body Parts include
- The increasing delivery sales and services of component coupled with the arrival of online portal distributing components is expected to augment the growth of the automotive body parts market during the forecast period. This is due to the global auto-part supplier groups that are likely to draw huge investments from the key participants. Additionally, the presence of leading market component suppliers, such as US Auto Parts Network, Inc. and CarParts.com, is also expected to increase the demand of the market in the years to come. Furthermore, growing online sales of automotive components are projected to support the growth of the market.
- The increasing demand for replacement of body parts is anticipated to augment the growth of the automotive body parts market in the years to come. The replacement of body parts projected to be high and held around 70.3% of the automotive body parts market revenue share in 2020. This is due to the extreme strain by poor road conditions and low life cycle of the parts. The vehicles’ early aging will provide a positive outlook for automotive body parts. Along with that, factors such as low production cost, rising number of manufacturers, and increasing number of accidents, are likely to support the growth of the market.
Asia Pacific was the leading regional segment of the Automotive Body Parts in 2020.