Driving Support Systems Forward: Automotive Ancillaries’ Market to Grow $28.6 Billion by 2032 | Continental AG, NIPPON
Automotive Ancillaries’ Products Market Trend
Automotive ancillaries' products refer to a wide range of components and accessories that are used in automobiles. These products complement and support the functioning of vehicles. Automotive ancillaries' products include components such as automotive batteries, filters, wiper blades, belts, hoses, and other consumables & components essential for vehicle maintenance, performance, and functionality.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A185104
The global automotive ancillaries’ products market has witnessed significant growth due to increase in global automobile sales, surge in popularity of vehicle electrification & hybridization, and rise in trend toward weight reduction in automobiles. Increase in R&D initiatives in autonomous & connected vehicle technology and surge in demand for sustainable & eco-friendly solutions are likely to create growth opportunity for the industry. Meanwhile, fluctuation in the price of raw materials and stringent regulatory compliance are anticipated to hinder the automotive ancillaries’ products market during the forecast period.
In recent years, there has been growing investment in R&D initiatives toward the development of autonomous and connected vehicle technology. Global OEM manufacturers are focusing on developing autonomous technology to optimize fuel consumption, reduce vehicle emissions, decrease traffic congestion, and reduce driver fatigue. Autonomous driving technology has the potential to reduce accidents, reduce over speeding, and decrease poor judgment while driving. Similarly, autonomous driving is expected to help in eliminating the shortage of drivers in developed countries of North America and Europe.
𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
Robert Bosch GmbH
Uno Minda
Continental AG
NIPPON
Duncan Engineering Ltd
ZF Friedrichshafen AG
DENSO CORPORATION
Magna International Inc
AISIN CORPORATION
Lear Corporation
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A185104
The Engine Transmission and Suspension Components segment to maintain its leadership status throughout the forecast period
By component, the engine transmission and suspension components segment held the highest market share in 2022, and is estimated to maintain its leadership status throughout the forecast period as these components are a crucial part of overall vehicle safety and functionality. Likewise, these components consist of several moving parts, such as pistons, crankshafts, valves, and others, which are most prone to wear and tear and thus require regular maintenance and replacement. However, the electrical parts segment is projected to obvious the highest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟖.𝟎% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟐, owing to increase use of electrical system in modern automobiles and increase utilization in enhancing vehicle safety features and driver assistance systems. Technologies such as advanced driver assistance systems (ADAS), adaptive cruise control, lane-keeping assist, and automatic emergency braking rely heavily on sensors, cameras, and actuators to detect and respond to potential hazards on the road. This system requires sophisticated electrical parts and are extensively used in modern automobiles.
The passenger vehicle segment to maintain its leadership status throughout the forecast period
By application, the passenger vehicle segment held the highest market share in 2022 and is estimated to maintain its leadership status throughout the forecast period. Similarly, the passenger vehicle segment is projected to manifest the highest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟔.𝟕% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟐, owing to increasing disposable income among consumers in the developing economy and a growing inclination toward personally owned vehicles. Moreover, rapid urbanization and the growing population in cities have resulted in consumers spending more on owning a passenger vehicle for daily commute. Moreover, with the growth in electric and hybrid vehicle technology, the demand for the passenger vehicle segment is anticipated to continue to grow during the forecast period.
The aftermarket segment to maintain its lead position during the forecast period
By distribution channel, the aftermarket segment accounted for the largest share in 2022. Similarly, the aftermarket segment is expected to portray the fastest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟔.𝟕% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟐 due to the widespread availability of aftermarket products at lower prices in the market. Similarly, aftermarket products offer more customization options and can be designed to enhance the aesthetic and overall performance of a vehicle.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐚𝐭 - https://www.alliedmarketresearch.com/request-for-customization/A185104
Asia-Pacific to maintain its dominance by 2032
By region, Asia-Pacific held the highest market share in terms of revenue in 2022, and the fastest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟕.𝟖% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟐, and is estimated to maintain its leadership status throughout the forecast period, due to the higher adoption rates of smart mobility solutions such as EV and hybrid vehicle due to increasing in disposable income. Moreover, the region has witnessed an increase in sales of passenger vehicles, due to increasing disposable income among consumers and a growing inclination towards personally owned vehicles. Furthermore, rapid urbanization in the Asia-Pacific region and a growing population in cities have resulted in consumers spending more on owning a passenger vehicle for their daily commute.
𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬
https://www.alliedmarketresearch.com/automotive-transmission-valve-spool-market-A13876 - Global Opportunity Analysis and Industry Forecast, 2021-2030
https://www.alliedmarketresearch.com/automotive-flywheel-market - Global Opportunity Analysis and Industry Forecast, 2022 - 2032
https://www.alliedmarketresearch.com/self-driving-truck-market - Global Opportunity Analysis and Industry Forecast, 2025 - 2035
https://www.alliedmarketresearch.com/automotive-head-up-display-market - Global Opportunity Analysis and Industry Forecast, 2021 - 2031
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