Global Auto Parts And Accessories Market Report
The Global Auto Parts And Accessories Market report provides valuable insights about the market, including the major players and their offerings. Hyundai Mobis, Aisin Seiki, Flowmaster Mufflers, Denso Corp., Magna International, and Delphi Automotive are among the leading companies operating in this industry. The study also identifies some emerging players in the market. The company WeatherTech Direct LLC is the ninth largest in the list of companies in this industry.
The global auto parts and accessories market is expected to reach $2.3 trillion by 2026, up from US$1.9 trillion in 2016. Despite the growing global economy, more consumers are researching their purchases online. The most common sources of research include online search engines, automobile manufacturer and retailer websites, automotive forums, and consumer reviews. The report also offers a detailed analysis of the industry’s key drivers and trends. It also provides an extensive competitive landscape, which helps companies stay ahead of the competition.
While there are several key drivers of the global auto parts and accessories market, the increasing disposable income of consumers will drive growth. The increased sales of automobile components are further fuelled by technological innovations. The automotive industry is undergoing rapid transformations, and companies must keep pace with these changes to stay ahead of the competition. The global auto parts and accessories market is predicted to reach $2.3 trillion by 2026, from US$1.9 trillion in 2020.
In the global market for auto parts and accessories, North America is expected to grow at the highest CAGR. The other regions will follow suit, with Europe and Asia Pacific expected to develop at the fastest rate during the forecast period. The regional growth of the auto parts and accessories market is driven by the presence of key players and the growing need for safety and security. For instance, the market for car tires will continue to rise due to the increasing demand for automobiles.
The global auto parts and accessories market is expected to reach $12.3 trillion by 2026, up from US$1.9 trillion in 2020. The market will continue to grow at a moderate rate, with the overall growth of the industry expected to be 3% over the next five years. However, the growth rate of the driveline & powertrain segment will be higher than the rest of the industry. These parts and accessories will be the most popular items among consumers.
The global auto parts and accessories market is dominated by manufacturers of various auto components and accessories. The market is characterized by a number of factors including the growth of the automotive industry in developing countries. In the U.S., the global automotive industry is expected to be worth $19.9 trillion by 2026. This figure includes both the market in the United States and Mexico. The United States and Canada are the top two countries for the market.