Asia-Pacific Automotive Parts and Components Market Share, Size and Future Projections 2024-2030FY

Markntel Advisors’ report, Asia-Pacific Automotive Parts and Components Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Asia-Pacific Automotive Parts and Components presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Asia-Pacific Automotive Parts and Components Market Research Report Market Summary:

The Asia-Pacific Automotive Parts and Components Market size is valued at around USD 61.89 Billion in 2024 and is estimated to grow at a CAGR of around 6.05% during the forecast period, i.e., 2024-30. The market is experiencing robust growth, driven by various factors such as the surge in vehicle production, technological advancements, and a rising consumer preference for safer sustainable vehicles. Notably, the International Organization of Motor Vehicle Manufacturers reported a substantial increase in total motor vehicle production, reaching 46,768,800 in 2022 and 50,020,793 in 2023. The escalating production of vehicles directly correlates with a heightened demand for automotive parts components.

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Asia-Pacific Automotive Parts and Components Market Dynamics:

Key Driver-

Increasing Automobile Production Contributing to Sustained Demand for Automotive Parts Components – Automobile production in the APAC region is increasing due to government support for the automotive industry. The regional countries, including China, India, and Japan, have the highest production rate of automobiles as the country has improved its industrial capabilities by absorbing advanced foreign technologies management practices. In addition, international automobile manufacturers are entering the Chinese market due to lower labor costs government support.

In a country like India, the government supports the growth of the automotive industry by introducing the Production Linked Incentive (PLI) Scheme for the automobile sector to increase manufacturing capability. Also, the government of Japan supports the growth of the automotive industry, increasing global demand for environmentally friendly production, and higher safety standards have led to a boom across the country. Thereby, contributing to driving the Asia-Pacific Automotive Parts and Components Market growth.

Asia-Pacific Automotive Parts and Components Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

By Components

Driveline Powertrain- Market Size Forecast 2019-2030F, USD Million
Interiors Exteriors- Market Size Forecast 2019-2030F, USD Million
Electronics- Market Size Forecast 2019-2030F, USD Million
Bodies Chassis- Market Size Forecast 2019-2030F, USD Million
Braking System- Market Size Forecast 2019-2030F, USD Million
Others (Wheel Tires, Seating, lighting, etc.)- Market Size Forecast 2019-2030F, USD Million

The Braking System is anticipated to account for a substantial share of the Asia-Pacific Automotive Parts and Components Market in the forecast years.

By Application- Market Size Forecast 2019-2030F, USD Million

Original Equipment Manufacturers (OEMs)- Market Size Forecast 2019-2030F, USD Million
Aftermarket- Market Size Forecast 2019-2030F, USD Million

The Original equipment manufacturers (OEMs) segment is predicted to grasp the potential share of the Asia-Pacific Automotive Parts and Components Market.

By Vehicle Type- Market Size Forecast 2019-2030F, USD Million

Two-wheelers- Market Size Forecast 2019-2030F, USD Million
Three-wheelers- Market Size Forecast 2019-2030F, USD Million
Off-the-Road- Market Size Forecast 2019-2030F, USD Million
Passenger Cars- Market Size Forecast 2019-2030F, USD Million
Commercial Vehicles- Market Size Forecast 2019-2030F, USD Million
- Light Commercial Vehicles (LCVs)- Market Size Forecast 2019-2030F, USD Million
- Medium Heavy Commercial Vehicles (MHCVs)- Market Size Forecast 2019-2030F, USD Million

By Country

China
Japan
India
South Korea
Australia
Southeast Asia
Rest of Asia-Pacific.

China to dominate the Asia-Pacific Automotive Parts and Components Market in the forthcoming period. The country produces one-third of the world’s automobiles and is one of the largest automotive parts components markets across the region.

As indicated in the latest market research report published by Markntel Advisors, “Asia-Pacific Automotive Parts and Components Research Report: Forecast (2024-2030)”, this report offers a detailed analysis of the industry, featuring insights into the Asia-Pacific Automotive Parts and Components industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

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Top Companies Operating in the Asia-Pacific Automotive Parts and Components Market:

Denso Corporation
Robert Bosch GmbH
HELLA GmbH Co. KGaA
ZF Friedrichshafen AG
Nidec Corporation
Aisin Corporation
Marelli Holdings Co., Ltd.
Continental AG
Mitsubishi Electric Corporation
Magna International Inc.

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Key Report Highlights:

Market Dimensions Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

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