Auto Component Market: Market Size, Trends and Growth Analysis

The global auto component market experienced moderate growth over the last five years and is expected to continue its growth momentum reaching approximately $730.8 billion in 2017 with a CAGR of 3.2% over next five years (2012-2017). APAC is anticipated to emerge as the leading growth market over the forecast period due to high de

mand and low-cost manufacturing practices in the region.
 
Lucintel, a leading global management consulting and market research firm, has analyzed the global auto component industry and presents its findings in “Global Auto Component Market 2012-2017 Trend, Profit, and Forecast Analysis.”
 
The global auto component market is a highly diversified sector that involves engine and auto component manufacturers, including aftermarket parts manufacturers, suppliers, dealers, and retailers. The manufacturing of auto components is gradually shifting toward Asian countries such as China, India, and others because of higher market potential and the low-cost manufacturing options available. In China and India, OEMs are focused on helping the suppliers improve and grow their businesses. Strong growth in the industry has attracted a pool of companies, including major foreign companies, to operate in China’s auto component market. The growing importance of electronics and functional integration of green components and sustainable products will drive growth in the industry.
 
Lucintel’s research indicates that the industry witnessed strong growth during 2010-2011, as there was an increase in automobile sales and production coupled with demand for hybrid vehicles. Industry players rapidly added capacity to meet growing demand from automobile manufacturers. The industry is transforming and the boost in demand is expected to give rise to several new players in the industry.
 
As per the study, searching qualified employees, managing rising costs while staying competitive on price, and expanding product portfolios are the biggest challenges for the industry. Substantial investment in capacity expansion, increasing after-market demand, and sales and revival in global auto production with strong recovery in vehicle sales are anticipated to expand the industry’s footprint. The report tracks one market segment for four regions; thus, it tracks four segments of the global auto component industry.
 
This comprehensive guide from Lucintel provides readers with valuable information and the tools needed to successfully drive critical business decisions with a thorough understanding of the market’s potential. This report will save Lucintel clients hundreds of hours in personal research time on a global market and it offers significant benefits in expanding business opportunities throughout the global auto component industry. In a fast-paced ever-changing world, business leaders need every advantage available to them in a timely manner to drive change in the market and to stay ahead of their competition. Auto component market report provides business leaders with a keen advantage in this regard by making them aware of

emerging trends and demand requirements on an annual basis.
 
To make any investment or strategic decision, you need adequate and timely information. This market report fulfills t

his core need. Some of the features of auto component market report are: