Automotive Parts

Auto parts and components include bodies, chassis, interiors, exteriors, seating, powertrains, electronics, mirrors, closures, roof systems & modules, etc. All the parts and components are installed in a car to supply the best driving experience.

The classification of Auto Parts and Accessories includes Driveline & Powertrain, Interiors & Exteriors, Electronics, Bodies & Chassis, Seating, Lighting, Wheel & Tires, etc. The proportion of Driveline & Powertrain in 2016 is about 25%, and the proportion is in a decreasing trend from 2012 to 2016.

 

Auto Parts and Accessories are widely used in OEM and Aftermarkets. The former accounts for market shares more than 67%, while the latter account for the rest. For frequently replaced parts and components, the price in Aftermarket generally lower.

China is the largest consumption place, with a consumption market share nearly 25% in 2016 due to the fast-growing automotive industry. Following China, the USA and Europe are also an important consumption place with the mature automotive industry.

Market concentration degree is not high for the total market as the top 30 manufacturers occupied market share about 27%. While for one kind part or component, the market concentration degree may be high.

Economic expansion in emerging markets worldwide is expected to drive healthy growth in the auto manufacturing sector over the next several years, which should bolster demand for auto parts.

The US auto parts manufacturing industry consists of about 4,300 companies with combined annual revenue of about $265 billion.

As the automotive industry adapts to a future that includes electric drivetrains, autonomous technology, connectivity, and mobility options outside traditional car ownership, suppliers must evolve to meet these new challenges. Technology content is increasing its share of overall vehicle value, while hard auto parts are expected to become more commoditized. New industry entrants including tech firms and consumer electronics companies also present challenges to established suppliers. To remain competitive, automotive suppliers must develop fresh strategies that address this wide array of emerging challenges and opportunities.

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