Global Auto Parts & Accessories Manufacturing - Market Research Report (2013-2028)
New York, United States
Last Updated: September 2023
C2534-GLRevenue
$1.9tr
Past 5-Year Growth
Profit
$XXX.Xbn
Employees
7m
Businesses
15,936
Wages
$XXX.Xbn
Global Auto Parts & Accessories Manufacturing industry analysis
Revenue for the auto parts and accessories manufacturers has decreased at a CAGR of 6.3% over the past five years and is expected to total $1.9 trillion in 2023, when profit is set to drop to 5.3%. This includes a forecast stagnation in 2023 amid rising interest rates in many countries, which has discouraged new car sales. Despite this, the auto parts aftermarket has helped generate revenue as average vehicle ages have increased. Demand for this segment tends to rise with the number of vehicles in use, and as more individuals take to the roads, demand for replacement parts increases.
Trends and Insights
- Seaport congestion has created shortages and delays in production. The global supply chain isn't fully recovered despite the world settling back to normal from the COVID-19 pandemic.
- There are two main types of motor vehicle parts and accessories: those destined for original equipment manufacturers and parts destined for the aftermarket. Original equipment refers to products manufactured to motor vehicle manufacturers' specifications, the primary market for parts manufacturers.
- Global auto sales are reflective of auto parts manufacturers' primary markets. North Asia is the fastest-growing region, with China and South Korea leading in growth rates, while Japan's motor vehicle parts and accessories market is more mature.
- Manufacturers carry a low level of market share concentration, characterized by numerous industry players that satisfy local and regional demand. Large companies all maintain a similar small level of market share, generally focusing on niche product offerings or local demand.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 6.3 % over the past five years, to reach an estimated $1.9tr in 2023.
Trends and Insights
The COVID-19 pandemic disrupted the industry
- COVID-19 and its lingering effects has been the biggest disrupter of the global auto parts and accessories manufacturing in recent years, causing revenue declines to last well beyond 2020.
- Additional trends and insights available with purchase
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Autonomous vehicles will change the industry
- The global automotive sector's race to produce autonomous vehicles will require whole new sets of parts for manufacturers to supply, as the basis of vehicle operation will change with autonomous vehicles.
Biggest companies in the Global Auto Parts & Accessories Manufacturing
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Robert Bosch GmbH | 49.8 | N/A | N/A | |
DENSO Corporation | 30.7 | N/A | N/A | |
Continental AG | 15.3 | N/A | N/A |
To view the market share and analysis for all 5 top companies in this industry, view purchase options.
Products & Services Segmentation
Global Auto Parts & Accessories Manufacturing
Products & Services
Industry revenue is measured across several distinct product and services lines, including Electrical systems, Steering, suspensions and wheels and Brake systems. Electrical systems is the largest segment of the Global Auto Parts & Accessories Manufacturing.
Trends and Insights
Exhaust, airbag and HVAC systems are likely to face change
- This range of components all fit within a segment of passenger safety and comfort systems and because of their standardization worldwide, many automakers outsource production to regional auto parts and accessories manufacturers.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Global Commercial Aircraft Manufacturing
Complementors
- Global Tire Manufacturing
- Global Iron and Steel Mills
- Global Car & Automobile Manufacturing
- Global Heavy-Duty Truck Manufacturing
- Global Automobile Engine & Parts Manufacturing
International industries
- Automobile Electronics Manufacturing in the US
- Automobile Steering & Suspension Manufacturing in the US
- Automobile Brakes Manufacturing in the US
- Automobile Transmission Manufacturing in the US
- Automobile Interior Manufacturing in the US
Table of Contents
About this industry
Industry definition
Companies in this industry manufacture motor vehicle parts and accessories other than engines, engines parts, batteries, bodies and chassis. Motor vehicle assembling is not included in this industry. Manufacturers typically supply parts and accessories to original equipment manufacturers (OEM) for use in the manufacturing of complete motor vehicles or for replacement parts in OEM dealerships. They also supply parts to the aftermarket.
What's included in this industry?
Motor vehicle electrical and electronic part manufacturingMotor vehicle steering and suspension part manufacturingMotor vehicle brake system manufacturingMotor vehicle transmission and power train part manufacturingMotor vehicle seating and interior trim part manufacturingMotor vehicle part metal stampingCompanies
Robert Bosch GmbHDENSO CorporationContinental AGPurchase this report to view all 5 major companies in this industry.
Related Terms
AMTDCTORIGINAL EQUIPMENT MANUFACTURER (OEM) SUPPLIERS OEMJUST-IN-TIME (JIT)KANBANIndustry Code
C2534-GL - Global Auto Parts & Accessories Manufacturing
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Seaport congestion has created shortages and delays in production. The global supply chain isn't fully recovered despite the world settling back to normal from the COVID-19 p...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
There are two main types of motor vehicle parts and accessories: those destined for original equipment manufacturers and parts destined for the aftermarket. Original equipmen...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Global auto sales are reflective of auto parts manufacturers' primary markets. North Asia is the fastest-growing region, with China and South Korea leading in growth rates, w...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each region in 2023
- Number and share of revenue each region accounts for in 2023
- Number and share of wages each region accounts for in 2023
- Number and share of employees in each region in 2023
Detailed analysis
- Business Locations Charts
- Share of global output by region in 2023
- Share of population compared to output in each region in 2023
- Data tables
- Share of global output by region in 2023
- Detailed analysis
- Geographic spread of the industry across Global, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Manufacturers carry a low level of market share concentration, characterized by numerous industry players that satisfy local and regional demand. Large companies all maintain...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Manufacturing auto parts and accessories is fragmented in nature, which makes it so there aren't major players. The other companies have less than 5.0% market share.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Robert Bosch GmbH's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of DENSO Corporation's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Continental AG's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for Robert Bosch GmbH, and factors influencing its performance in the industry
- Description and key data for DENSO Corporation, and factors influencing its performance in the industry
- Description and key data for Continental AG, and factors influencing its performance in the industry
- Description, key data and performance trends for 2 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Manufacturers are subject to a medium level of regulation. These regulations are subject to frequent review by applicable regulatory authorities and other governmental entiti...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Parts manufacturers generally have low profit. This is due to the high level of competition stemming from many competitors and pressures from automakers for lower priced prod...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
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Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources globally include:
- United Nations Comtrade
- Organization for Economic Cooperation & Development
- World Bank
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Global Auto Parts & Accessories Manufacturing industry in Global in 2024?
The market size of the Global Auto Parts & Accessories Manufacturing industry in Global is $1.9tr in 2024.
How many businesses are there in the Global Auto Parts & Accessories Manufacturing industry in 2023?
There are 15,936 businesses in the Global Auto Parts & Accessories Manufacturing industry in Global, which has declined at a CAGR of 7.8 % between 2018 and 2023.
Has the Global Auto Parts & Accessories Manufacturing industry in Global grown or declined over the past 5 years?
The market size of the Global Auto Parts & Accessories Manufacturing industry in Global has been declining at a CAGR of 6.3 % between 2018 and 2023.
What is the forecast growth of the Global Auto Parts & Accessories Manufacturing industry in Global over the next 5 years?
Over the next five years, the Global Auto Parts & Accessories Manufacturing industry in Global is expected to grow.
What are the biggest companies in the Global Auto Parts & Accessories Manufacturing market in Global?
The biggest companies operating in the Global Auto Parts & Accessories Manufacturing market in Global are Robert Bosch GmbH, DENSO Corporation and Continental AG
What does the Global Auto Parts & Accessories Manufacturing in Global include?
Motor vehicle electrical and electronic part manufacturing and Motor vehicle steering and suspension part manufacturing are part of the Global Auto Parts & Accessories Manufacturing industry.
Which companies have the highest market share in the Global Auto Parts & Accessories Manufacturing in Global?
The company holding the most market share in Global is Robert Bosch GmbH.
How competitive is the Global Auto Parts & Accessories Manufacturing industry in Global?
The level of competition is high and increasing in the Global Auto Parts & Accessories Manufacturing industry in Global.
