Auto parts and accessories market is anticipated to grow at a CAGR of 12.7% during the forecast period (2023-2030). The growing production and adoption of technologically upgraded auto parts and accessories is the key factor supporting the market growth globally. For instance, in August 2020, Advance Auto Parts, Inc. launched MotoLogic® Repair & Diagnostics tool, which makes it easier for automotive technicians and repair shops to offer value-added services to the customers.
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Additionally, the auto parts and accessories market players are expanding their business in parts of North America, which is the expected to offer a lucrative growth opportunity for the region. For instance, in in August 2023, Stellantis expanded and enhanced Parts Business in North America. The company Introduces bproauto as competitively priced, private-label replacement parts. The new parts line complements Mopar, the global original-equipment parts and authentic accessories brand for Stellantis.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Auto Parts and Accessories Market Report Segment
By Product
- Engine Parts
- Electrical Parts
- Drive and Transmission Steering Parts
- Suspension and Braking Parts Equipment
- Others (Filter)
By Vehicle Type
- Passenger Vehicles
- Commercial Vehicles
- Light Commercial Vehicles
- Sports Vehicles
- Others (Cargo Cars)
By Type
- Driveline and Powertrain
- Interiors and Exteriors
- Electronics
- Seating
- Lighting
- Other (Chassis)
By Application
- Original Equipment Manufacturer (OEM)
- Aftermarket
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global auto parts and accessories market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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