Industry Overview
The Global Auto Parts market size was valued at USD 457 billion in 2023. It is likely to grow up to USD 720 billion by 2030 at a CAGR of 5.7% during the forecast period ranging between 2025 and 2030.
The spare parts market is growing rapidly and is also adding employment.One of the critical expansion drivers is the growing call for electric cars and smart elements. The increasing production of electrical vehicles has increased the want for specialized batteries, automobiles and electronic components.Smart and connected parts help enhance vehicle performance and safety. Auto parts are the mechanical and electronic components of any vehicle. These include the engine, brakes, gearbox, clutch, steering, battery, lights, etc.New technologies such as modular design and smart parts have evolved significantly over the years. Today, sensor-based and AI-enabled parts allow for improved performance. Vehicle components are crucial irrespective of their types. It can be 2-wheelers, 4-wheelers, or any heavy vehicle. All need these components. Also, their demand is as high in servicing ad repairing centers as it is in the manufacturing units.Timely replacement increases both the vehicle’s life and reliability. These elements make contributions to the car’s speed, safety, gasoline efficiency, and comfort. The quality of these components and replacements without delay influences the vehicle’s performance and safety.
Global Auto Parts Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2024
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U.S.D. 457 Billion
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Revenue Forecast in 2030
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U.S.D. 720 Billion
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Growth Rate
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5.7%
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Segments Covered in the Report
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By Type, By Vehicle Type, By Material, By Distribution Channel
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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North America, Europe, Asia Pacific, Rest of the World
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Global Auto Parts Industry Dynamics
Global Auto Parts Market Trends/Growth Drivers:
Increasing Vehicle Demand and Vehicle Complexity
Vehicle production is constantly increasing globally, which is also increasing the demand for auto parts. Increasing complexity of electric and high-tech vehicles has led to the need for advanced and more sophisticated parts. OEMs (original equipment manufacturers) are demanding parts with greater quality and reliability. Increasing safety and emission standards have promoted new technologies in parts design and manufacturing. Increasing vehicle age is also increasing the demand for aftermarket parts.
Other trends and market growth drivers include the increased use of advanced materials such as lightweight aluminum and carbon fiber, digitalization and AI-based quality control techniques are strengthening the market, rising vehicle maintenance costs and vehicle life extension are driving the aftermarket, growing vehicle numbers in emerging countries and improved access to spare parts are driving the market, and increasing competition and global supply chain improvements are also driving growth.All these reasons are causing the auto parts market to grow rapidly.
Global Auto Parts Market Challenges
Supply Chain Disruptions and Rising Raw Material Prices
The auto parts industry is facing rising raw material prices and unstable supply chains. Disruptions in global trade and logistical problems lead to production delays. Supply chain instability following the pandemic has further worsened the situation. Small and medium suppliers are facing financial pressure and production costs are increasing with technological changes. Also, compliance with environmental regulations and quality standards has become more challenging.
Global Auto Parts Market Opportunities
Growing Demand for Electric and High-Performance Vehicles
The demand for new and advanced auto parts for electric vehicles and high-performance cars is growing rapidly. The development of recycled and eco-friendly parts is creating a sustainable market. Digitalization and smart manufacturing technologies are reducing production costs. In addition, increasing automobile production rates provide an opportunity to expand into new markets. Demand for aftermarket spare parts is also a major opportunity for the market and global supply chain improvements and e-commerce platforms are increasing the availability of parts.
Recent developments by the Key Players
DENSO CORPORATION and DELPHY GROEP BV have collaborated to develop and promote data-driven smart horticulture.
Magna partnered with NVIDIA DRIVE AGX to deliver AI-powered, scalable solutions for ADAS and autonomous driving systems, that shall enable software-defined vehicles
Global Auto Parts Market Segmentation
VynZ Research provides an analysis of the key trends in each segment of the Global Auto Parts Market report, along with forecasts at the regional and country levels from 2025-2030. Our report has categorized the market based on type, vehicle type, material and distribution channel.
Insight by Type
- OEM Parts
- Aftermarket Parts
Rapid growth in the aftermarket segmentdue to affordable prices and better options
The global auto parts market is divided into two segments according to their type namely, OEM Parts and Aftermarket Parts. The aftermarket segment is booming as people prefer to get their vehicles repaired when they get old. Consumers are opting for repairs due to affordable prices and better options. The increasing number of parts available from different manufacturers increases competition and reduces prices. Technological improvements have improved the quality and compatibility of aftermarket parts. The increase in the number of vehicles globally is driving the demand for this segment. Increasing awareness towards vehicle care is also driving the aftermarket forward.
Insight by Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Two-Wheeler
Demand for advanced parts leads to growth in the passenger car segment
The global auto parts market is divided into Passenger Cars, Commercial Vehicles and Two-Wheelers by vehicle type. The passenger car segment is the largest as people are purchasing more personal vehicles. The focus on safety, comfort and fuel efficiency is driving the demand for advanced parts in this segment. Commercial vehicles require strong and durable parts, which keeps the demand stable. Two-wheelers also have a large share due to increasing urban mobility. Passenger cars are also contributing to electric vehicle manufacturing. Innovations in lightweight and efficient parts are driving this segment forward.
Insight by Material
Plastic parts are on the rise due to being lightweight and durable
The global auto parts marketis divided into Metal, Plastic, Rubber and Others based on material. The demand for plastic parts is growing rapidly for light weight and fuel savings. Plastic parts are cheap, rust-free and flexible in design. Metal parts are essential for engines and frames as they are strong and durable. Rubber parts are essential for tires, sealing and vibration control. Innovation in plastic parts is taking place with the use of composites and advanced polymers. The demand for recyclable plastic is also increasing due to environmental regulations.
Insight by Distribution Channel
- OEM Dealerships
- Auto Parts Retailers
- E-Commerce Platforms
E-commerce platforms grow due to increased aftermarket reach
By distribution channel, the global auto parts market is segmented into OEM Dealerships, Auto Parts Retailers, and E-Commerce Platforms. E-commerce is growing rapidly as it offers convenient, affordable and wide product range. Customers prefer online purchases due to speed and easy access. OEM dealerships remain strong in new vehicle parts and warranty services. Retailers are important due to local customer service and immediate availability. Digital tools have improved customer reach and inventory management. Increasing internet and smartphone penetration is driving e-commerce growth.
Global Auto Parts Market: Geographic Overview
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Vietnam
- Thailand
- Malaysia
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
North America is a leader of the global auto parts market due to high-quality auto parts manufacturing. Technological innovation and strong aftermarket support are fueling its growth.
Asia-Pacific is the fastest growing region, especially due to countries like China and India. Cheap production costs and a large consumer base are strengthening the market.
Europe is growing rapidly due to the growing demand for premium and eco-friendly auto parts. Stricter regulations and the prevalence of electric vehicles are contributing to this.
Latin America is an emerging market where new car sales are on the rise. Economic growth and the expansion of the automobile sector are the major factors.
Global Auto Parts Market: Major Players
