The Asia Pacific is projected to lead the worldwide automotive efficiency components market by 2032. Sales of shock absorbers are to develop at a 4.6% CAGR through the forecast interval. Japan to Turn into a Lucrative Market for Automotive Performance Parts
NEWARK, Del., Oct. 27, 2022 /PRNewswire/ — As a results of escalating demand for passenger automobiles, the market for automotive performance parts is seemingly to attain an estimated US$ 339.32 Mn by the end of 2022. An increase in disposable revenue throughout the globe additional dietary supplements the expansion of automotive efficiency components market through the forecast interval.
Manufacturers in this market are in a position to present cost-effective merchandise and file gross sales development due to the competitors in China, India, Thailand, and Vietnam. With the development of expertise and swift growth occurring in the sector of logistics, many producers at the moment are in a position to provide high-quality objects quicker and throughout a number of areas. The increasing marketplace for used automobiles in the United States additional bolsters the upkeep and restore section of the automotive efficiency components market throughout this era. In the previous couple of years, owing to rising automobile possession and a surge in automobile collisions, substitute components dominated the automotive efficiency components market, thus contributing immensely to the general development of the goal market.
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Moreover, fast transformation in existence and a rising need for helpful and progressive technology-based merchandise are propelling client development for the goal market. The automotive efficiency components are extra interesting than ever as they’re available. A heightened use of use of gauges, switches, and audio/video gadgets has resulted in the market domination of the inside section which, in flip, contributes to the expansion of the automotive efficiency components market through the forecast interval.
“Rising vehicle ownership coupled with escalating demand for passenger cars will propel the global growth of the automotive performance parts market over the forecast period,” says an FMI analyst.
Key Takeaways:
- The automotive efficiency components market in the U.S. will account for 87% of the market share in North America.
- By suspension components, gross sales of the shock absorbers section will develop at 4.6%
- Sales of torque converters will register a CAGR of 5.8%.
- The air filters section will develop at a CAGR of 4.2%.
- High demand for passenger automobiles will push the goal market development in China.
Competitive Landscape
Tenneco Inc., Robert Bosch GmbH, Continental AG, BorgWarner Inc., Mahle GmbH, Donaldson Company Inc., Holley Performance Products, MITSUBISHI HEAVY INDUSTRIES, LTD., Honeywell International Inc., EXEDY Corporation, Denso Corporation, AISIN SEIKI Co., Ltd., Hitachi Astemo, Ltd., The NGK Spark Plug Co., Ltd., Cummins Inc., ZF Friedrichshafen AG, Valeo, TREMEC, and Hyundai Mobis, amongst others are a few of the main gamers in the automotive efficiency components market profiled in the total model of the report.
Leading market gamers are specializing in adopting new methods reminiscent of web gross sales channels. Some of the opposite companies are providing customizations and concentrating on increasing their companies to acquire a aggressive benefit.
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More Insights into Automotive Performance Parts Market Report
In its newest report, FMI provides an unbiased evaluation of the worldwide automotive efficiency components market, offering historic knowledge from 2017 to 2021 and forecast statistics for 2022 to 2032. To perceive the worldwide market potential, development, and scope, the market is segmented on the premise of product kind (exhaust system (exhaust pipes, catalytic converters, oxygen sensors, mufflers, headers), suspension components (suspension bushing, sway bars, shock absorbers), brakes (brake pads, brake rotors, brake caliper, brake traces, brake grasp cylinders, vacuum pumps), gas air & consumption techniques (gas filters, throttle our bodies, consumption manifold, MAF sensors, air filters, gas pumps, gas injectors, spark plugs), transmission components (clutch strain plates, clutch linkage, torque converters, flywheels), energy adders (turbochargers, intercoolers, nitrous oxide techniques, superchargers)), automobile kind (passenger automobiles, gentle industrial automobiles, heavy industrial automobiles), gross sales channels (first match, aftermarket), and area.
According to the newest FMI stories, based mostly on segmentation, the shock absorbers section will register a CAGR of 4.6% propelled by the rising world demand. The torque converters section will develop at 5.8% CAGR whereas the gross sales of air filters will even file a spike through the projected interval.
Based on area, the automotive efficiency components market in China will show substantial development throughout 2022-2032. Owing to the presence of high producers of automobile efficiency parts, the nation is anticipated current a chance of US$ 38 Bn. The goal market in this area will maintain the biggest market share in East Asia. Other nations like Japan, Spain, and the United States will exhibit notable development over the forecast interval.
Key Segments
By Product Type:
- Exhaust Systems
- Headers
- Mufflers
- Oxygen Sensors
- Exhaust Pipes
- Catalytic Converters
- Suspension Parts
- Suspension Bushing
- Sway Bars
- Shock Absorbers
- Brakes
- Brake Pads
- Brake Rotors
- Brake Caliper
- Brake Lines
- Brake Master Cylinders
- Vacuum Pumps
- Fuel Air & Intake Systems
- Air Filters
- MAF Sensors
- Intake Manifold
- Throttle Bodies
- Fuel Filters
- Spark Plugs
- Fuel Injectors
- Fuel Pumps
- Transmission Parts
- Clutch Pressure Plates
- Flywheels
- Torque Converters
- Clutch Linkage
- Power Adders
- Turbochargers
- Intercoolers
- Nitrous Oxide Systems
- Superchargers
By Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Sales Channel:
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
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