According to Markntel Advisors Report, Asia-Pacific Automotive Parts and Components Market is expected to grow at a significant growth rate, and the analysis period is 2024-2030, considering the base year as 2023.Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Automotive parts and components refer to the individual elements or units constituting a vehicle, providing its structure, functionality, and performance. These parts are essential for the assembly, operation, and maintenance of automobiles.
Global Asia-Pacific Automotive Parts and Components Market Research Report & Summary:
The Asia-Pacific Automotive Parts and Components Market size is valued at around USD 61.89 Billion in 2024 and is estimated to grow at a CAGR of around 6.05% during the forecast period, i.e., 2024-30.
Time Period Captured in the Report:
· Historical Years: 2019-22
· Base Years: 2023
· Forecast Years: 2024-30
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Who are the Key Players Operating in the Asia-Pacific Automotive Parts and Components Market?
The top companies of the Asia-Pacific Automotive Parts and Components Market ruling the industry are:
Denso Corporation, Robert Bosch GmbH, HELLA GmbH & Co. KgaA, ZF Friedrichshafen AG, Nidec Corporation, Aisin Corporation, Marelli Holdings Co., Ltd, Continental AG, Mitsubishi Electric Corporation, Magna International Inc., Others.
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What is Included in Asia-Pacific Automotive Parts and Components Market Segmentation?
The Asia-Pacific Automotive Parts and Components Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
-By Components
-Driveline & Powertrain- Market Size & Forecast 2019-2030F, USD Million
-Interiors & Exteriors- Market Size & Forecast 2019-2030F, USD Million
-Electronics- Market Size & Forecast 2019-2030F, USD Million
-Bodies & Chassis- Market Size & Forecast 2019-2030F, USD Million
-Braking System- Market Size & Forecast 2019-2030F, USD Million
-Others (Wheel & Tires, Seating, lighting, etc.)- Market Size & Forecast 2019-2030F, USD Million
-By Application- Market Size & Forecast 2019-2030F, USD Million
-Original Equipment Manufacturers (OEMs)- Market Size & Forecast 2019-2030F, USD Million
-Aftermarket- Market Size & Forecast 2019-2030F, USD Million
-By Vehicle Type- Market Size & Forecast 2019-2030F, USD Million
-Two-wheelers- Market Size & Forecast 2019-2030F, USD Million
-Three-wheelers- Market Size & Forecast 2019-2030F, USD Million
-Off-the-Road- Market Size & Forecast 2019-2030F, USD Million
-Passenger Cars- Market Size & Forecast 2019-2030F, USD Million
-Commercial Vehicles- Market Size & Forecast 2019-2030F, USD Million
- Light Commercial Vehicles (LCVs)- Market Size & Forecast 2019-2030F, USD Million
-Medium & Heavy Commercial Vehicles (MHCVs)- Market Size & Forecast 2019-2030F, USD Million
-By Country
-China
-Japan
-India
-South Korea
-Australia
-Southeast Asia
-Rest of Asia-Pacific
Explore the Complete Asia-Pacific Automotive Parts and Components Market Analysis Report – https://www.marknteladvisors.com/research-library/apac-automotive-parts-components-market.html
Global Asia-Pacific Automotive Parts and Components Market Driver:
Increasing Automobile Production Contributing to Sustained Demand for Automotive Parts & Components – Automobile production in the APAC region is increasing due to government support for the automotive industry. The regional countries, including China, India, and Japan, have the highest production rate of automobiles as the country has improved its industrial capabilities by absorbing advanced foreign technologies & management practices. In addition, international automobile manufacturers are entering the Chinese market due to lower labor costs & government support.
In a country like India, the government supports the growth of the automotive industry by introducing the Production Linked Incentive (PLI) Scheme for the automobile sector to increase manufacturing capability. Also, the government of Japan supports the growth of the automotive industry, increasing global demand for environmentally friendly production, and higher safety standards have led to a boom across the country. Thereby, contributing to driving the Asia-Pacific Automotive Parts and Components Market growth.
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