Motor Vehicle Parts Market Size, Share & Drivers Analysis Report By Product
The Business Research Company
The Business Research Company's Motor Vehicle Parts Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, November 19, 2025 /EINPresswire.com/ -- What Is The Motor Vehicle Parts Market Size And Growth?
In recent times, the motor vehicle parts market has experienced a robust growth. The market, which is expected to increase from $2713.65 billion in 2024 to $2871.86 billion in 2025, will have a compound annual growth rate (CAGR) of 5.8%. This significant growth during the historic period can be linked to the increase in demand for motor vehicles and swift urbanization.
In the coming years, the market size for motor vehicle parts is predicted to surge significantly, reaching $3703.06 billion by 2029 with a CAGR of 6.6%. The major factors contributing to the projected growth during this period include quick advancements in technology, supportive government initiatives, heightened emphasis on car accessories, and the increasing shift towards electric vehicles (EVs). Furthermore, trends for this period also suggest that the industry will see more integration of artificial intelligence in products to improve versatility and features, a greater use of 3D printing to create inexpensive, lightweight, and customizable components, a focus on strategic partnerships for wider distribution network expansion, and the implementation of the latest technological advancements within the sector.
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What Are The Current Leading Growth Drivers For Motor Vehicle Parts Market?
In the motor vehicle parts manufacturing market, prominent companies are channeling their efforts towards technological advancements like robotic welding machines to improve efficiency and product standards. The adoption of sustainable practices and partnerships for technological growth are also top on their agenda. These robotic welding machines are automated systems that utilize robotic arms to carry out welding tasks with optimum precision and efficiency, bringing about increased productivity and uniformity in manufacturing processes. As an illustration, Kemppi, a manufacturing company rooted in Finland, rolled out an AX MIG Welder in April 2023. This high-performing automated welding machine employs advanced arc technology to achieve peak quality and efficiency. The machine strikes a balance between user-friendliness and modular versatility, which is why it is a favorite for uninterrupted operation in high-demand manufacturing surroundings.
Which Companies Are Currently Leading In The Motor Vehicle Parts Market?
Major players in the Motor Vehicle Parts include:
• Robert Bosch GmbH
• Denso Corp
• General Motors Co.
• Aisin Seiki Co ltd
• Hyundai Mobis
• Shanghai Automotive Industry Corporation (SAIC)
• Jini Auto Spare Parts Company LLC
• MRF
• Tenneco
• MAHLE GmbH
What Are The Future Trends Of The Motor Vehicle Parts Market?
The demand for electric vehicles is surging, potentially causing a shift in the automotive value chain. Electric vehicle engines are less complex than those using gasoline, meaning they require fewer parts to be replaced throughout the vehicle's lifetime. The trend towards car electrification signifies that components like air conditioning units, water pumps, brakes, and steering systems will have to be modified to suit electric vehicles. Given that electric cars are made with roughly a third of the components of internal combustion engine (ICE) cars, the need for collaboration between car manufacturers and parts suppliers could decrease. This may lower vehicle-to-component calibration, enabling parts suppliers to create products more independently. An EY report suggests that the shift towards electric vehicles in India could impact the current car spare parts sales, as electric vehicles have only 20 moving parts compared to the 200 spare parts in internal combustion engine vehicles.
How Is The Motor Vehicle Parts Market Segmented?
The motor vehicle partsmarket covered in this report is segmented –
1) By Type: Motor Vehicle Body, Stamped Metal & Other Parts, Motor Vehicle Engine, Power Train & Parts, Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors
2) By Application: Passenger Vehicle, Commercial Vehicle
3) By End Use: OEM, Aftermarket
Subsegments:
1) By Motor Vehicle Body: Body Panels, Chassis, Bumpers, Doors And Windows
2) By Stamped Metal And Other Parts: Stamped Metal Components, Brackets And Supports, Structural Frames, Custom Fabricated Parts
3) By Motor Vehicle Engine: Engine Blocks, Cylinder Heads, Crankshafts, Camshafts
4) By Power Train And Parts: Transmissions, Differentials, Drive Shafts, Axles
5) By Motor Vehicle Electrical And Electronic Equipment: Alternators, Starters, Sensors, Wiring Harnesses
6) By Steering Suspension And Interiors: Steering Systems, Suspension Components, Interior Trim Parts, Seating Systems
View the full motor vehicle parts market report:
https://www.thebusinessresearchcompany.com/report/motor-vehicle-parts-global-market-report
Which Is The Dominating Region For The Motor Vehicle Parts Market?
In 2024, the motor vehicle parts market was dominated by Asia-Pacific, with Western Europe trailing as the second largest market. The report comprehensively covers the following regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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