The global automotive component market was estimated to be valued at USD XX million in 2018 and is projected to reach USD XX million/billion by 2025, at a CAGR of XX% during 2018 to 2025. Scope of global automotive component market includes by Material Type (Metallic Materials, Nonmetallic Materials), by Product Type (Chassis, Electrical/Electronics, Exterior, HMI, Infotainment, Interior, Others), by Vehicle Type (Passenger Vehicle, Commercial Vehicle), and by Region (North America- U.S., Canada; Europe- U.K., France, Germany; Asia-Pacific- China, Japan, India; Latin America- Brazil, Mexico; Middle East & Africa- South Africa, Saudi Arabia).
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Automotive component are manufactured precisions components primarily utilized in automotive industry. Some of main components includes chassis, engine, and electronics among others.
Growing work population and expanding middle classes has raised demand for personal vehicles, expanding sales of commercial vehicle owing to rise in investment over construction industry are some of main driving factors for market growth. Development of electric and autonomous vehicles are expected to reshape the industry demand.
The global automotive component market is primarily segmented by material type, product type, vehicle type, and region.
On the basis of material type, the market is split into:
* Metallic Materials
* Nonmetallic Materials
Based on product type, the market is divided into:
Based on the vehicle type, the market is segmented into:
* Passenger Vehicle
* Commercial Vehicle
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Moreover, the market is classified across regions and countries as follows:
* North America- U.S., Canada
* Europe- Russia, U.K., France, Germany, Italy
* Asia-Pacific- China, Japan, India, Australia
* Latin America- Brazil, Mexico
* Middle East & Africa- South Africa, Egypt, Saudi Arabia
Key Market Players:
The key players profiled in the market include:
* Mahindra Group
* Volkswagen Group
* General Motors
These enterprises are focusing on growth strategies, such as new product launches, expansions, acquisitions, and agreements & partnerships to expand their operation across the globe.
Key Benefits of the Report:
* Global, regional, country, product type, vehicle type, and product type market size and their forecast from 2014-2025
* Identification and detailed analysis on key market dynamics, such as, drivers, restraints, opportunities, and challenges influencing growth of the market
* Detailed analysis on industry outlook with market specific Porter’s Five Forces analysis, PESTLE analysis, and Value Chain, to better understand the market and build expansion strategies
* Identification of key market players and comprehensively analyze their market share and core competencies, detailed financial positions, key products, and unique selling points
* Analysis on Key players strategic initiatives and competitive developments, such as joint ventures, mergers, sales contracts, and new product launches in the market
* Expert interviews and their insights on market shift, current and future outlook, and factors impacting vendors short term and long term strategies
* Detailed insights on emerging regions, product types, vehicle type, and product types with qualitative and quantitative information and facts
* Identification of the key patents filed in the field of automotive component
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* Automotive Component manufacturer & Technology Providers
* Traders, Importers, and Exporters
* Raw Material Suppliers and Distributors
* Research and Consulting Firms
* Government and Research Organizations
* Associations and Industry Bodies
The market is derived through extensive use of secondary, primary, in-house research followed by expert validation and third party perspective, such as, analyst reports of investment banks. The secondary research is the primary base of our study wherein we conducted extensive data mining, referring to verified data sources, such as, white papers, government and regulatory published articles, technical journals, trade magazines, and paid data sources.
For forecasting, regional demand & supply factors, recent investments, market dynamics including technical growth scenario, consumer behavior, and end use trends and dynamics, and production capacity were taken into consideration. Different weightages have been assigned to these parameters and quantified their market impacts using the weighted average analysis to derive the market growth rate.
The market estimates and forecasts have been verified through exhaustive primary research with the Key Industry Participants (KIPs), which typically include:
* Raw Material Providers
* Government Body & Associations
* Research Institutes