Market Overview: Asia-Pacific Automotive Parts and Components Market
MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on Asia-Pacific Automotive Parts and Components Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
Asia-Pacific Automotive Parts and Components Market Insights 2024-30
The Asia-Pacific Automotive Parts and Components Market is estimated to grow at a CAGR of around 6.05% during the forecast period 2024-30.
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Driving Innovation: Exploring the Asia-Pacific Automotive Parts and Components Market and its Key Drivers
Asia-Pacific Automotive Parts and Components Market Driver: Increasing Automobile Production Contributing to Sustained Demand for Automotive Parts & Components
Automobile production in the APAC region is increasing due to government support for the automotive industry. The regional countries, including China, India, and Japan, have the highest production rate of automobiles as the country has improved its industrial capabilities by absorbing advanced foreign technologies & management practices. In addition, international automobile manufacturers are entering the Chinese market due to lower labor costs & government support.
In a country like India, the government supports the growth of the automotive industry by introducing the Production Linked Incentive (PLI) Scheme for the automobile sector to increase manufacturing capability. Also, the government of Japan supports the growth of the automotive industry, increasing global demand for environmentally friendly production, and higher safety standards have led to a boom across the country. Thereby, contributing to driving the Asia-Pacific Automotive Parts and Components Market growth.
Top Players in the Asia-Pacific Automotive Parts and Components Market:
Denso Corporation, Robert Bosch GmbH, HELLA GmbH & Co. KgaA, ZF Friedrichshafen AG, Nidec Corporation, Aisin Corporation, Marelli Holdings Co., Ltd, Continental AG, Mitsubishi Electric Corporation, Magna International Inc., Others
Asia-Pacific Automotive Parts and Components Industry Recent Development:
- 2023: Marelli Holdings Co. Ltd launched an automotive front lighting, the h-Digi® microLED module based on new type of intelligent multipixel LED enables fully adaptive, dynamic headlight operation and image projection.
- 2022: Continental AG opened a sales and hose line competence center for powertrain technologies in Japan. The company is strengthening its presence in the country to work more closely with local powertrain technology leaders.
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Segmentation Analysis of Asia-Pacific Automotive Parts and Components Market
Asia-Pacific Automotive Parts and Components Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2024-30, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
By Components
-Driveline & Powertrain
-Interiors & Exteriors
-Electronics
-Bodies & Chassis
-Braking System
-Others (Wheel & Tires, Seating, lighting, etc.)
- The Braking System is anticipated to account for a substantial share of the Asia-Pacific Automotive Parts and Components Market in the forecast years.
By Application
-Original Equipment Manufacturers (OEMs)
-Aftermarket
By Vehicle Type
-Two-wheelers
-Three-wheelers
-Off-the-Road
-Passenger Cars
-Commercial Vehicles
– Light Commercial Vehicles (LCVs)
-Medium & Heavy Commercial Vehicles (MHCVs)
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A Comprehensive Geographical Analysis:
By Country
-China
-Japan
-India
-South Korea
-Australia
-Southeast Asia
-Rest of Asia-Pacific
- China to dominate the Asia-Pacific Automotive Parts and Components Market in the forthcoming period.
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About Us
MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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Call: +1 628 895 8081, +91 120 4278433
Email: [email protected]
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Contact Information:
Reach us: Call: +1 628 895 8081, +91 120 4278433 Email: [email protected] Visit to know more: www.marknteladvisors.com
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