Motor vehicle parts manufacturers are increasingly using light weight
vehicle components to improve fuel efficiency. Light weight vehicle components
enable motor vehicle manufacturers to reduce the overall weight of the vehicle,
thus, lowering the fuel consumption. This improves the fuel efficiency of the
vehicle while ensuring safety norms are complied. In this regard, automotive
parts manufacturers are using advanced composites and high strength metals for
producing motor vehicle parts. For instance, in February 2015, automotive
engineering and consulting company Ricardo and aerospace composite supplier
Albany Engineered Composites (AEC) entered into a partnership to provide light
weight vehicle components such as composite body, chassis and other structural
components to automobile manufacturers. This partnership includes the use of
AEC’s technologies such as 3D composites for providing strength and durability
required for motor vehicles.
THE BUSINESS RESEARCH COMPANY EXPECTS THE GLOBAL MOTOR
VEHICLES PARTS MANUFACTURING MARKET TO GROW CLOSE TO $4 TRILLION BY 2021
Asia Pacific was the largest region in the motor
vehicle parts manufacturing market in 2017, accounting for almost half of the
market share. This was due to a large middleclass population in China and
India, availability of skilled manpower to manufacture motor vehicle parts for
automakers in this region.
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Bosch GMBH
was the largest company in the motor vehicle parts manufacturing market, with
revenues of EUR 43.9 billion ($48.6 billion) for the financial year 2016.
Bosch’s growth strategy is to increase investment in the automotive parts
manufacturing business.
The motor vehicle parts
manufacturing market is segmented into Motor Vehicle Body And Metal Stamping,
& Other Parts, Motor Vehicle Electrical & Electronic Equipment,
Steering, Suspension, & Interiors, Motor Vehicle Engine, Power Train, &
Parts.
Motor Vehicle Body, Metal Stamping, & Other Parts manufacturers
produce motor vehicle seating and interior trim, fabric accessories and
trimmings, seat belts and safety straps, for transportation equipment of all
kinds.
Motor Vehicle Electrical & Electronic Equipment, Steering,
Suspension, & Interiors manufacturing companies manufacture and rebuild
electrical and electronic equipment used for motor vehicles and internal
combustion engines.
Motor Vehicle Engine, Power Train, & Parts comprises
establishments that manufacture and rebuild vehicles engines, engine parts,
transmission and power train parts.
Motor Vehicle Parts Manufacturing Global Market
Report 2018 is a detailed report giving a unique insight into this market. The report is
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if you wish to use across a multinational company.
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