PUBLISHER: The Business Research Company | PRODUCT CODE: 1769854
PUBLISHER: The Business Research Company | PRODUCT CODE: 1769854
Car parts are the individual components and systems that constitute a vehicle, each serving a specific function in its operation, safety, and performance. These parts include key elements like the engine, transmission, brakes, suspension, and electrical systems, along with both exterior and interior components.
The primary types of car parts include engine parts, transmission parts, brake system parts, electrical components, suspension and braking systems, body and interior components, fuel and emission parts, exhaust systems, and others. Engine parts consist of the critical components that make up a vehicle's engine, working together to convert fuel into mechanical energy for movement. The main sales channels for these parts are original equipment manufacturers (OEM) and the aftermarket, serving various end users such as passenger vehicles, light commercial vehicles, heavy commercial vehicles, and sports vehicles.
The car parts market research report is one of a series of new reports from The Business Research Company that provides car parts market statistics, including the car parts industry's global market size, regional shares, competitors with the car parts market share, detailed car parts market segments, market trends and opportunities, and any further data you may need to thrive in the car parts market. This car parts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The car parts market size has grown strongly in recent years. It will grow from $255.56 billion in 2024 to $273.23 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth during the historic period can be credited to the rise in vehicle ownership, an increase in the average age of vehicles, the expansion of aftermarket services, higher disposable income, and the globalization of automobile manufacturing.
The car parts market size is expected to see strong growth in the next few years. It will grow to $353.50 billion in 2029 at a compound annual growth rate (CAGR) of 6.7%. The growth projected for the forecast period is driven by increasing demand for electric vehicles, a rise in the number of vehicle parts, growth in ride-sharing and fleet services, demand for lightweight and durable parts, and a growing preference for do-it-yourself (DIY) repairs. Key trends in the forecast period include a shift toward sustainable and recycled auto parts, greater use of 3D printing in parts production, adoption of smart automotive components, the rise of digital platforms for parts distribution, and increased automation in manufacturing.
The increase in aging vehicles is expected to drive growth in the car parts market going forward. Aging vehicles are those that have been in use for over 8-10 years and remain operational, often requiring frequent maintenance, repairs, and replacement parts to stay roadworthy. This rise in aging vehicles is attributed to improved vehicle durability, which allows cars to remain reliable and in use for longer periods. Car parts play a vital role in supporting aging vehicles by facilitating timely repairs and replacements that extend their lifespan and maintain performance. For example, in April 2025, a report by CCC Intelligent Solutions Inc., a US-based SaaS platform provider for the property and casualty (P&C) insurance sector, noted that the average age of vehicles on US roads reached 12.7 years in 2024 and is expected to hit 13 years by 2026. Thus, the growing number of aging vehicles is fueling the expansion of the car parts market.
Leading companies in the car parts market are focusing on innovative solutions like brake-by-wire (BbW) systems to improve vehicle safety, responsiveness, and integration with advanced driver-assistance and autonomous driving technologies. Brake-by-wire systems replace traditional mechanical and hydraulic brake linkages with electronic controls to activate the vehicle's brakes. For instance, in April 2025, Nexteer Automotive, a US-based automotive manufacturer, launched the Electro-Mechanical Brake (EMB) system, a cutting-edge BbW solution that enhances chassis control, efficiency, and safety. This technology allows precise, independent control of each wheel, improving vehicle stability, reducing response times, and boosting overall safety and comfort-especially important for electric vehicles, where reducing noise and vibration is critical. By removing hydraulic components, the EMB system contributes to vehicle lightweighting, improves energy efficiency, and lowers maintenance requirements, supporting the industry's move toward more sustainable, software-driven vehicle architectures.
In July 2024, Wharton Automotive Group, a US-based supplier of high-performance automotive driveline components, acquired Competition Clutch Inc. for an undisclosed sum. Through this acquisition, Wharton Automotive Group aims to strengthen its foothold in the high-performance driveline market by incorporating Competition Clutch's expertise in sport compact clutch kits and flywheels. Competition Clutch Inc., also US-based, specializes in manufacturing high-performance clutch kits and flywheels for both street and race cars.
Major players in the car parts market are Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, Thyssenkrupp AG, Continental AG, Magna International Inc., Aisin Seiki Co. Ltd., Sumitomo Electric Industries, Ltd., Valeo SA, Lear Corporation, Faurecia SE, Tenneco Inc., Schaeffler Group, Adient plc, Yazaki Corporation, BorgWarner Inc., JTEKT Corporation, Mahle GmbH, Nexteer Automotive India Private Limited, Aptiv plc, and Hitachi Automotive Systems (India) Private Limited.
Asia-Pacific was the largest region in the car parts market in 2024. The regions covered in car parts report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the car parts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The car parts market includes sales of pistons, shock absorbers, tie rods, air conditioning compressors, and side mirrors. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values and are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Car Parts Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on car parts market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for car parts ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The car parts market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.