Automotive Performance Parts Market

2019 Analysis and Review of Automotive Performance Parts Market by Product - Exhaust Systems, Suspension Parts, Brakes, Fuel & Air Intake Systems, Power Adders, and Transmission Parts for 2019 - 2029

  • 2019-12-10
  • REP-GB-10710
  • 28 Tables
  • 121 Figures
  • 250 pages
  • Format: PDF/PPT/Excel
  • SELECT LICENSE :

  • US$5,000
  • US$7,500
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Sales of Automotive Performance Parts to Reach US$ 5 Bn Mark by 2029

Automotive performance parts account for nearly 8.5% of the total automotive ancillary. Their worldwide sales have been growing moderately on the back of continued automobile production, particularly in developing regions. With a considerable increase in the number of vehicle owners, the per capita spending on automotive repair & maintenance is also on rise. The global automotive performance parts market is thus set for sustained growth over the next decade, reaching the US$5 Bn mark by 2029 end.  

Top Factors Shaping Global Automotive Performance Parts Market

Average Vehicle Age at All-time High

Advancements in technology have led to improvements in the quality of materials used for automobile manufacturing. The average age and reliability of light vehicles such as pickup trucks and light vans has increased over the years. Moreover, customers are increasingly keeping their old cars as second hand vehicles rather than reselling or scrapping them. As a result of this, significant need for repair and maintenance is expected, bolstering demand for performance parts.

For instance, parts such as brake pads, suspension bushings, spark plugs, and air filters need to be replaced at regular intervals. Longer-lasting cars present a lucrative opportunity for aftermarket performance part manufacturers, as older vehicles require more repairs and maintenance, thereby necessitating more aftermarket performance parts.

global automotive performance parts market

Expanding Automotive Production in Developing Regions

East Asia will be highly lucrative for the leading manufacturers in automotive performance parts market, as the region is a global hub for automotive production. In terms of growth, South Asia and the Middle East and Africa (MEA) will particularly reflect a relatively high growth potential in the automotive performance parts landscape. This growth has been attributed to the expanding automobile production across these regions, particularly in Indonesia, Algeria, Morocco, UAE, and Thailand.

Surge in Fleet Aggregators

In order to ensure maximum fuel economy, fleet owners get their vehicles serviced regularly. Surge in fleet aggregators is anticipated to be one of the key factors fueling the demand for automotive performance parts. Booming fleet aggregators particularly in developing countries are expected to disrupt the transportation industry in the coming years.

Fleet owners including taxi operators like Ola, Uber, SheTaxi, Baxi and AutonCabs, shuttle bus operators like Shuttl, Cityflo and Zipgo, and on-demand transport companies like Quikhop, Rivigo, Trukky, LetsTransport, ThePorter, Blackbuck and Truckola are creating significant opportunities in the promising India market. Large fleet owners project significant demand for features such as improved vehicle power, ease of handling, and optimum fuel economy, which in turn, is creating lucrative growth opportunities for automotive performance parts market.

Automotive Performance Parts Market Structure Analysis

  • The global automotive performance parts market is fairly fragmented where the unorganized sector, which includes tier-2 and tier- 3 players, holds significant market share. The market consists of a large number of local and unorganized players serving mainly in the aftermarket.
  • Robert Bosch Gmbh, Denso Corporation, Mitsubishi Heavy Industries Ltd., Delphi Automotive, Continental AG, and Honeywell International Inc. are identified as some of the key participants in the global automotive performance parts market.

Power Adders and Brakes Top Selling, with Collective Share of 50%

Accounting for revenues worth over US$ 100 Bn, power adders continue to influence the growth tactics of market players. This study reveals that power adder manufacturers would reap substantial profits by 2022. Demand for brakes is also witnessing a significant upsurge, with major contribution from brake calipers and brake master cylinders. On the other hand, transmission parts are reflecting lucrative prospects. Torque converters hold about half of revenues under transmission parts and clutch pressure plates are gaining modest traction.

Manufacturers to Target Europe and East Asia

The automotive performance parts market in Europe continues to reflect significant opportunistic potential, primarily attributing to increasing production of passenger vehicles (PVs). While sales will be majorly concentrated in Germany, Russia’s growth as a potential market will be steadfast, positioning the country ahead of Spain by 2029 end. Asia Pacific (APAC) also accounts for a noteworthy market share, banking on massive production volumes of compact PVs and heavy commercial vehicles (HCVs) in China. Growing automotive industry in India, and ASEAN countries would also be crucial in shaping demand for automotive performance parts across APAC.

Customization and E-tailing Hold Key to Winning over Competition

The E-commerce ecosystem has been expanding rapidly, particularly in developing regions. This has influenced manufacturers of automotive performance parts to strategize on online retail channels. For instance, Donaldson Company Inc. has launched its E-commerce platform for selling air and fuel filters. Customization is another differentiating strategy trending among prominent market players. Manufacturers are developing customized automotive performance parts that offer operational benefits as well as comply with existing regulatory framework.

Power adders remain sought-after

Transmission parts gain momentum

High adoption in passenger vehicles

Adoption in commercial vehicles increasing

Aftermarket contributing to major revenue share

Preference for OEMs growing rapidly

How Growth will Unfold

Adoption of automotive performance parts in PVs currently generates significant revenues and employment of automotive performance parts in PVs would remain prominent across most regional markets. Application in light commercial vehicles (LCVs) is however set to surpass the US$ 100 Bn mark by 2029 end. Automotive performance parts are also finding application in HCVs.

Automotive Performance Parts Adoption Analysis, 2019(E) & 2029(F)

* This data is only a representation. Actual data may vary and will be available in report.

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Overview

Automotive Performance Parts Market Analysis 2019 - 2029

The recent market study published by FMI on the automotive performance parts market includes global industry analysis for 2014 - 2018 & opportunity assessment for 2019 - 2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on historical as well as current growth parameters of the automotive performance parts market, growth prospects of the market are obtained with maximum precision.

Automotive Performance Parts Market Taxonomy

The global automotive performance parts market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

Product

  • Exhaust System
    • Headers
    • Mufflers
    • Oxygen Sensors
    • Exhaust Pipes
    • Catalytic Converters
  • Suspension Parts
    • Suspension Bushing
    • Sway Bars 
    • Shock Absorbers
  • Brakes
    • Brake Pads
    • Brake Rotors
    • Brake Calipers
    • Brake Lines
    • Brake Master Cylinders
    • Vacuum Pumps
  • Transmission Parts
    • Clutch Pressure Plates
    • Flywheels
    • Torque Converters
    • Clutch Linkage
  • Fuel Air & Intake Systems
    • Air Filters
    • MAF Sensors
    • Intake Manifolds
    • Throttle Bodies
    • Fuel Filters
    • Spark Plugs
    • Fuel Injectors
    • Fuel Pumps
  • Power Adders
    • Turbochargers
    • Nitrous Oxide Systems
    • Intercooler
    • Superchargers

Product

  • Passenger Vehicles
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

Sales Channel

  • OEMs
  • Aftermarket

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific 
  • Middle East & Africa

What's Included

The report begins with the executive summary of the automotive performance parts market, which includes a summary of the key findings and statistics.

Readers can find the definitions and detailed taxonomy of the automotive performance parts market in this chapter, which will help them understand the basic information about the automotive performance parts market. This section also highlights inclusions and exclusions, which will help readers understand the scope of the automotive performance parts market report.

This chapter explains the key macroeconomic factors that are expected to influence the growth of the automotive performance parts market over the forecast period. Along with macroeconomic factors, this section also highlights the supply chain, forecast factors, and value chain analysis for the automotive performance parts market.

This section explains the global market value analysis and forecast for the automotive performance parts market for the forecast period of 2019-2029. This chapter includes a detailed analysis of the historical automotive performance parts market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029). The chapter also includes a pessimistic & optimistic outlook for automotive performance parts market. Along with this, an overview of key insights is also provided by market participants.

Based on product type, the automotive performance parts market is segmented into exhaust systems, suspension parts, brakes, fuel & air intake systems, power adders and transmission parts. In this chapter, readers can find information about the key trends and developments in the automotive performance parts market and market attractiveness analysis based on product type.

This chapter provides details about the automotive performance parts market based on vehicle type, and has been classified into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. In this chapter, readers can understand the market attractiveness analysis based on vehicle type.

This chapter provides details about the automotive performance parts market based on sales channel, and has been classified into OEMs and aftermarket. In this chapter, readers can understand the market attractiveness analysis based on sales channel.

This chapter explains how the automotive performance parts market will grow across several geographic regions such as North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa.

This chapter includes a detailed analysis of the growth of the automotive performance parts market in North America, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on applications and countries in North America.

This chapter provides the growth scenario of the automotive performance parts market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, an assessment of the market across target segments has been provided.

Important growth prospects of the automotive performance parts market in several countries such as Germany, Italy, France, the U.K., Spain, Russia, and the Rest of Europe are included in this chapter.

In this chapter, important growth prospects of the automotive performance parts market based on its end users in several countries such as Japan, South Korea, and China are included.

ASEAN, India, and ANZ are prominent countries in this region. Readers can find detailed information about the growth parameters of the South Asia & Pacific automotive performance parts market during the forecast period of 2019-2029 in this chapter.

This chapter highlights the growth of the automotive performance parts market in MEA by focusing on GCC, Turkey, South Africa, Iran, and Rest of MEA. This section also helps readers understand the key factors that are responsible for the growth of the automotive performance parts market in MEA.

In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the automotive performance parts market, along with their market presence analysis by region and product portfolio.

In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the automotive performance parts market, along with detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Robert Bosch Gmbh, Denso Corporation, Mitsubishi Heavy Industries Ltd., Delphi Automotive, Continental AG, and Honeywell International Inc., among others.

This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the automotive performance parts market report.

This chapter helps readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the automotive performance parts market.

How the research was conducted?

Primary Research

  • C - Level Executives
  • Marketing Directors
  • Product Managers 
  • Business Development Officers 
  • Production Managers
  • Procurement Heads
  • Sales Executives
  • Distributors
  • Traders 
  • Raw Material Suppliers
  • Industry Experts
  • End Users
  • Current market dynamics and challenges
  • Yesteryear trends 
  • Market characteristics
  • Market performance and growth quadrants
  • Competition structure and market structure
  • Strategic growth initiatives
  • Near-term and long-term market growth prospects
  • Market segment splits and authenticity
  • Opinions on market projections and validity of assumptions

 

Secondary Research

  • Industry Publications
    • Automotive World
    • UK Media & Events
    • AM-online
  • Industry Associations
    • OICA
    • AIA Canada
    • VDA
  • Factiva
  • Company Press Releases
  • Annual Reports and Investor Presentations
  • Research Papers
  • Government Websites and Publications
  • Trade Websites

Primary Interview Splits

Primary Interview Splits automotive performance parts market designations

Primary Interview Splits automotive performance parts market stakeholders

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