Auto parts and accessories market is anticipated to grow at a CAGR of 12.7% during the forecast period (2023-2030). The growing production and adoption of technologically upgraded auto parts and accessories is the key factor supporting the market growth globally. For instance, in August 2020, Advance Auto Parts, Inc. launched MotoLogic® Repair & Diagnostics tool, which makes it easier for automotive technicians and repair shops to offer value-added services to the customers.
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The global auto parts and accessories market is segmented on the product, vehicle type, type, and application. Based on the product, the market is sub-segmented into engine parts, electrical parts, drive and transmission steering parts, suspension and braking parts equipment, and others. Based on the vehicle type, the market is sub-segmented into passenger vehicles, commercial vehicles, light commercial vehicles, sports vehicles, and others. Based on the type, the market is sub-segmented into driveline and powertrain, interiors and exteriors, electronics, seating, lighting, and others. Further, on the basis of application, the market is bifurcated into OEM and aftermarket. Among the products, the engine parts sub-segment is anticipated to hold a considerable share of the market. Factors such as the stringent regulatory standards for fuel efficiency and growing demand for technologically advanced powered engines for improved vehicle performance are driving the market growth.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Auto Parts and Accessories Market Report Segment
By Product
- Engine Parts
- Electrical Parts
- Drive and Transmission Steering Parts
- Suspension and Braking Parts Equipment
- Others (Filter)
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Sports Vehicles
- Others (Cargo Cars)
By Type
- Driveline and Powertrain
- Interiors and Exteriors
- Electronics
- Seating
- Lighting
- Other (Chassis)
By Application
- Original Equipment Manufacturer (OEM)
- Aftermarket
Global Auto Parts and Accessories Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global auto parts and accessories market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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