Market Forecast by Countries (China, India, Japan, Australia, Indonesia, Philippines, Thailand, Malaysia, Singapore, Rest of Asia), By Type (Motor Vehicle Body, Metal Stamping & Other Parts, Motor Vehicle Engine, Power Train & Parts, Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors), By Application (Passenger Vehicle, Commercial Vehicle, Industrial Vehicle), By End-users (OEM, Aftermarket) And Competitive Landscape
Product Code: ETC057101 | Publication Date: May 2021 | Updated Date: Dec 2024 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Report Name | Asia Pacific Motor Vehicle Parts Market |
Forecast period | 2024-2030 |
Forecast size | USD 129.5 billion byย 2031 |
CAGR | 7.5% |
Growing Sector | OEM |
Asia Pacific Motor Vehicle Parts Market report thoroughly covers the market by application, by end user, by type and key countries. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Asia Pacific Motor Vehicle Parts Market Size is projected to reach USD 129.5 billion by 2031, growing at a CAGR of 7.5% during the forecast period from 2025 to 2031. The increasing demand for both passenger and commercial vehicles, coupled with a growing automotive manufacturing base across key countries such as China, Japan, India, and South Korea, is driving the growth of the motor vehicle parts market in the region. The expansion of the automotive aftermarket sector and the rising popularity of electric vehicles (EVs) also contribute to the market's overall growth trajectory.
Asia Pacific Motor Vehicle Parts Market serves a diverse range of applications, including passenger vehicles, commercial vehicles, and industrial vehicles, with each segment experiencing different growth trends. The automotive industry in the region has seen rapid transformation with increased demand for advanced motor vehicle parts, such as electrical and electronic components, steering and suspension systems, and powertrain parts. This transformation is largely driven by the increasing production of electric and hybrid vehicles, especially in countries like China and Japan, which are leading the transition to more sustainable automotive solutions.
According to 6Wresearch, the Asia Pacific Motor Vehicle Parts Market is anticipated to grow at a CAGR of 7.5% during the forecast period 2025-2031. The market is influenced by various factors, including the increasing number of vehicles on the road, rising disposable incomes, and the growth of the middle class in emerging economies such as India and China. The demand for motor vehicle parts has surged in response to these factors, particularly as vehicle ownership rates rise and vehicle fleets grow. The region's rapid urbanization and infrastructure development are also driving the demand for commercial vehicles and industrial vehicles, contributing to the expansion of the market. Another key driver of growth is the demand for electric vehicles (EVs) and hybrid vehicles, which require specialized parts, including electric drivetrains, batteries, and energy-efficient powertrain components. This trend is particularly evident in China, which is one of the largest EV markets in the world, and Japan, a leader in hybrid technology. Additionally, the shift toward connected vehicles and autonomous driving technologies is leading to an increased demand for electrical and electronic equipment, as well as advanced safety and infotainment systems.
Despite its promising growth, the Asia Pacific Motor Vehicle Parts Market faces several challenges. One of the primary challenges is the growing pressure to meet increasingly stringent environmental regulations and emissions standards in countries like China and India. As governments around the region introduce stricter regulations to combat pollution, automotive manufacturers and parts suppliers must invest in new technologies and processes to meet these standards. Another challenge is the supply chain disruptions that have impacted the production of vehicle parts in recent years. Issues such as raw material shortages, logistics challenges, and geopolitical uncertainties have resulted in delays and increased costs for parts manufacturers. The ongoing chip shortage is a prime example of this disruption, significantly affecting the production of various vehicle components, including engine control units and infotainment systems.
Several key trends are shaping the Asia Pacific Motor Vehicle Parts Market. One of the most notable trends is the rising demand for electric and hybrid vehicles. As countries in the region, particularly China, push for cleaner, more sustainable transportation options, automakers are investing heavily in the development of electric vehicle components such as batteries, electric drivetrains, and power electronics.
In addition to the shift toward electric vehicles, there is also an increasing focus on vehicle safety and advanced driver-assistance systems (ADAS). With growing consumer demand for safer vehicles, there is a rising need for steering, suspension, and braking systems that are designed to support features such as lane-keeping assist, adaptive cruise control, and collision avoidance systems.
Connected vehicles are another emerging trend in the region, with automotive manufacturers focusing on infotainment systems, telematics, and vehicle-to-everything (V2X) communication technology. These innovations require advanced electrical and electronic components to enable seamless integration and functionality. The growth of vehicle customization is also driving demand for aftermarket parts such as body kits, suspension systems, and wheels, particularly in countries like India and Japan, where automotive enthusiasts are keen to personalize their vehicles.
Asia Pacific Motor Vehicle Parts Market presents a range of investment opportunities, especially as the demand for electric vehicles and smart manufacturing technologies continues to rise. Investment in electric vehicle (EV) parts, particularly batteries, powertrain components, and charging infrastructure, presents a significant growth opportunity. With China leading the global electric vehicle market, companies involved in the production of EV components are well-positioned to capitalize on the expanding market.
Additionally, there are ample opportunities in the aftermarket segment, particularly for companies that specialize in replacement parts, accessories, and customization kits. The rising vehicle fleet and the increasing demand for vehicle upgrades create a strong market for aftermarket parts suppliers.
Furthermore, the shift toward smart manufacturing offers opportunities for investment in automation and robotics, which can enhance production efficiency and reduce manufacturing costs for motor vehicle parts suppliers.
Asia Pacific Motor Vehicle Parts Market is highly competitive, with several key players dominating the landscape. Companies such as Bosch, Denso Corporation, Magna International, and Delphi Technologies are leading the market by providing a wide range of innovative motor vehicle parts and solutions. These companies have strong market positions due to their extensive product portfolios, global presence, and continuous investments in research and development. Bosch, for example, is at the forefront of electric vehicle technology, producing essential EV parts such as electric motors and charging infrastructure. Another leading player, Denso Corporation, is a key supplier of advanced automotive components such as electrical systems, powertrain systems, and safety technologies.
Governments across the Asia Pacific region are actively supporting the Asia Pacific Motor Vehicle Parts Market Growth through initiatives aimed at boosting the electric vehicle market and enhancing sustainability in automotive manufacturing. In China, for example, the government has introduced various subsidies and incentives for the development and production of electric vehicles (EVs) and EV parts, such as batteries and electric drivetrains. Similarly, countries like Japan and South Korea are investing in research and development to promote the adoption of hybrid vehicles and autonomous driving technologies.
Government initiatives also focus on improving supply chain resilience by investing in infrastructure development and offering incentives to manufacturers that meet environmental standards. These initiatives are expected to further accelerate the growth of the Asia Pacific Motor Vehicle Parts Market in the coming years.
Asia Pacific Motor Vehicle Parts Industry is expected to continue evolving in the coming years, with major transformations driven by advancements in electric vehicles and autonomous driving technologies. As the region's automotive manufacturers adapt to the growing demand for sustainable and high-tech vehicles, the need for advanced automotive parts will only increase.
OEM suppliers will continue to play a dominant role in the market, but the aftermarket segment is expected to grow significantly, driven by the increasing number of vehicles on the road and the demand for parts replacement, repair, and customization. The adoption of and smart manufacturing technologies will also continue to shape the industry, allowing parts manufacturers to improve production efficiency and reduce costs.
The report offers a comprehensive study of the subsequent market segments and their leading categories.
According to Parth, Senior Research Analyst, 6Wresearch, the passenger vehicle is the dominant segment in the Asia Pacific Motor Vehicle Parts Market. The growing middle class in emerging economies like China, India, and Indonesia is contributing to a surge in vehicle ownership. Additionally, the rising demand for compact cars, electric vehicles (EVs), and hybrid vehicles is propelling the need for a wide range of parts, including engines, transmission systems, braking systems, and electrical components.
The OEM segment dominates the Asia Pacific Motor Vehicle Parts Market Share. As the region continues to experience rapid vehicle production, particularly in China, India, and Japan, OEM parts are integral to the manufacturing of new vehicles. These parts are highly engineered and comply with specific quality and safety standards set by vehicle manufacturers. The growth of the OEM segment is closely tied to the increasing production rates of electric vehicles (EVs), passenger vehicles, and commercial vehicles in the region.
China is the dominant player in the Asia Pacific Motor Vehicle Parts Market. The country is not only the largest producer of vehicles but also a significant consumer of motor vehicle parts. The shift towards electric vehicles (EVs) and automated driving technologies in China is driving the demand for EV components, advanced safety features, and smart electronics.
The report provides a detailed analysis of the following market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Asia Pacific Motor Vehicle Parts Market Overview |
3.1 Asia Pacific Regional Macro Economic Indicators |
3.2 Asia Pacific Motor Vehicle Parts Market Revenues & Volume, 2020 & 2030F |
3.3 Asia Pacific Motor Vehicle Parts Market - Industry Life Cycle |
3.4 Asia Pacific Motor Vehicle Parts Market - Porter's Five Forces |
3.5 Asia Pacific Motor Vehicle Parts Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 Asia Pacific Motor Vehicle Parts Market Revenues & Volume Share, By Type, 2020 & 2030F |
3.7 Asia Pacific Motor Vehicle Parts Market Revenues & Volume Share, By Form, 2020 & 2030F |
3.8 Asia Pacific Motor Vehicle Parts Market Revenues & Volume Share, By End-users, 2020 & 2030F |
4 Asia Pacific Motor Vehicle Parts Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Asia Pacific Motor Vehicle Parts Market Trends |
6 Asia Pacific Motor Vehicle Parts Market, 2020 - 2030 |
6.1 Asia Pacific Motor Vehicle Parts Market, Revenues & Volume, By Type, 2020 - 2030 |
6.2 Asia Pacific Motor Vehicle Parts Market, Revenues & Volume, By Application, 2020 - 2030 |
6.3 Asia Pacific Motor Vehicle Parts Market, Revenues & Volume, By End-users, 2020 - 2030 |
7 China Motor Vehicle Parts Market, 2020 - 2030 |
7.1 China Motor Vehicle Parts Market, Revenues & Volume, By Type, 2020 - 2030 |
7.2 China Motor Vehicle Parts Market, Revenues & Volume, By Application, 2020 - 2030 |
7.3 China Motor Vehicle Parts Market, Revenues & Volume, By End-users, 2020 - 2030 |
8 India Motor Vehicle Parts Market, 2020 - 2030 |
8.1 India Motor Vehicle Parts Market, Revenues & Volume, By Type, 2020 - 2030 |
8.2 India Motor Vehicle Parts Market, Revenues & Volume, By Application, 2020 - 2030 |
8.3 India Motor Vehicle Parts Market, Revenues & Volume, By End-users, 2020 - 2030 |
9 Japan Motor Vehicle Parts Market, 2020 - 2030 |
9.1 Japan Motor Vehicle Parts Market, Revenues & Volume, By Type, 2020 - 2030 |
9.2 Japan Motor Vehicle Parts Market, Revenues & Volume, By Application, 2020 - 2030 |
9.3 Japan Motor Vehicle Parts Market, Revenues & Volume, By End-users, 2020 - 2030 |
10 Australia Motor Vehicle Parts Market, 2020 - 2030 |
10.1 Australia Motor Vehicle Parts Market, Revenues & Volume, By Type, 2020 - 2030 |
10.2 Australia Motor Vehicle Parts Market, Revenues & Volume, By Application, 2020 - 2030 |
10.3 Australia Motor Vehicle Parts Market, Revenues & Volume, By End-users, 2020 - 2030 |
11 Indonesia Motor Vehicle Parts Market, 2020 - 2030 |
11.1 Indonesia Motor Vehicle Parts Market, Revenues & Volume, By Type, 2020 - 2030 |
11.2 Indonesia Motor Vehicle Parts Market, Revenues & Volume, By Application, 2020 - 2030 |
11.3 Indonesia Motor Vehicle Parts Market, Revenues & Volume, By End-users, 2020 - 2030 |
12 Philippines Motor Vehicle Parts Market, 2020 - 2030 |
12.1 Philippines Motor Vehicle Parts Market, Revenues & Volume, By Type, 2020 - 2030 |
12.2 Philippines Motor Vehicle Parts Market, Revenues & Volume, By Application, 2020 - 2030 |
12.3 Philippines Motor Vehicle Parts Market, Revenues & Volume, By End-users, 2020 - 2030 |
13 Thailand Motor Vehicle Parts Market, 2020 - 2030 |
13.1 Thailand Motor Vehicle Parts Market, Revenues & Volume, By Type, 2020 - 2030 |
13.2 Thailand Motor Vehicle Parts Market, Revenues & Volume, By Application, 2020 - 2030 |
13.3 Thailand Motor Vehicle Parts Market, Revenues & Volume, By End-users, 2020 - 2030 |
14 Malaysia Motor Vehicle Parts Market, 2020 - 2030 |
14.1 Malaysia Motor Vehicle Parts Market, Revenues & Volume, By Type, 2020 - 2030 |
14.2 Malaysia Motor Vehicle Parts Market, Revenues & Volume, By Application, 2020 - 2030 |
14.3 Malaysia Motor Vehicle Parts Market, Revenues & Volume, By End-users, 2020 - 2030 |
15 Singapore Motor Vehicle Parts Market, 2020 - 2030 |
16 Rest of Asia Motor Vehicle Parts Market, 2020 - 2030 |
16.1 Rest of Asia Motor Vehicle Parts Market, Revenues & Volume, By Type, 2020 - 2030 |
16.2 Rest of Asia Motor Vehicle Parts Market, Revenues & Volume, By Application, 2020 - 2030 |
16.3 Rest of Asia Motor Vehicle Parts Market, Revenues & Volume, By End-users, 2020 - 2030 |
17 Asia Pacific Motor Vehicle Parts Market Key Performance Indicators |
18 Asia Pacific Motor Vehicle Parts Market - Opportunity Assessment |
18.1 Asia Pacific Motor Vehicle Parts Market Opportunity Assessment, By Countries, 2020 & 2030F |
18.2 Asia Pacific Motor Vehicle Parts Market Opportunity Assessment, By Type, 2020 & 2030F |
18.3 Asia Pacific Motor Vehicle Parts Market Opportunity Assessment, By Application, 2020 & 2030F |
18.4 Asia Pacific Motor Vehicle Parts Market Opportunity Assessment, By End-users, 2020 & 2030F |
19 Asia Pacific Motor Vehicle Parts Market - Competitive Landscape |
19.1 Asia Pacific Motor Vehicle Parts Market Revenue Share, By Companies, 2023 |
19.2 Asia Pacific Motor Vehicle Parts Market Competitive Benchmarking, By Operating and Technical Parameters |
20 Company Profiles |
21 Recommendations |
22 Disclaimer |