Dublin, May 25, 2023 (GLOBE NEWSWIRE) -- The "Transport Vehicle Components Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global transport vehicle components market is expected to grow from $2.05 billion in 2022 to $2.20 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The transport vehicle components market is expected to grow to $2.89 billion in 2027 at a CAGR of 7.0%.
Major players in the transport vehicle components market are Robert Bosch GmbH, Aisin Seiki Co. Ltd., Valeo, Continental AG, Aptiv, ZF Friedrichshafen, Magna International, Faurecia SE, Magneti Marelli, Brembo SPA, Akebono Brake Industry, Hella KGaA Hueck, ACDelco, LG Chem Ltd., Tesla Inc., Hitachi Ltd., ABB Ltd., Samsung SDI Co. Ltd., BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., Panasonic Corporation, and EXOR Group.
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Transport vehicle components are any parts that are frequently fastened, bonded, or otherwise joined to a vehicle or its frame. The components are used in various vehicles such as a plane, ship, or train.
The main types of transport vehicle components are motor vehicle bodies, motor vehicle engines, motor vehicle electrical and electronic equipment, and interiors. Motor vehicle body refers to the piece of the vehicle that is affixed to the chassis, frame, or unibody, including the fenders, bumpers, windscreens, glass, and similar parts. Vehicle types include passenger cars and commercial vehicles, and component types include battery packs, DC-DC converters, controllers and inverters, motors, and onboard chargers, with sale channels including OEM (original equipment manufacturer) and aftermarket.
Technological advancements are a key trend gaining popularity in the transport vehicle components market. Major companies operating in the market are focused on developing technological advanced products to strengthen their position in the market.
In June 2022, Robert Bosch GmbH, a Germany-based engineering and technology company, acquired MoTeC for an undisclosed amount. Through this acquisition, Bosch plans to strengthen its position in motorsports and expand its product portfolio. MoTeC is an Australian-based motorsports technology company offering vehicle and engine control units, displays, data loggers, and others.
North America was the largest region in the transport vehicle components market in 2022. The regions covered in the transport vehicle components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the transport vehicle components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The increasing demand for commercial vehicles is expected to propel the growth of the transport vehicle components market going forward. A commercial vehicle is one that is permitted to be used for the transportation of goods or materials rather than people. Commercial vehicles increasingly require components for their functioning; hence, the growth of this market will result in the growth of the transport vehicle components market.
For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), a France-based international trade association whose members are 39 national automotive industry trade associations, the commercial vehicle production increased from 21,787,126 in 2020 to 23,091,693 in 2021. Therefore, increasing demand for commercial vehicles is expected to grow the transport vehicle components market.
The transport vehicle components market consists of sales of suspension systems, steering wheels, and brakes. 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 that 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.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $2.2 billion |
| Forecasted Market Value (USD) by 2027 | $2.89 billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Transport Vehicle Components Market Characteristics
3. Transport Vehicle Components Market Trends And Strategies
4. Transport Vehicle Components Market - Macro Economic Scenario
4.1. COVID-19 Impact On Transport Vehicle Components Market
4.2. Ukraine-Russia War Impact On Transport Vehicle Components Market
4.3. Impact Of High Inflation On Transport Vehicle Components Market
5. Transport Vehicle Components Market Size And Growth
5.1. Global Transport Vehicle Components Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Transport Vehicle Components Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Transport Vehicle Components Market Segmentation
6.1. Global Transport Vehicle Components Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Motor Vehicle Body
- Stamped Metal
- Motor Vehicle Engine
- Power Train And Parts
- Motor Vehicle Electrical And Electronic Equipment
- Steering Suspension
- Interiors
6.2. Global Transport Vehicle Components Market, Segmentation By Vehicle Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Passenger Cars
- Commercial Vehicles
6.3. Global Transport Vehicle Components Market, Segmentation By Component Type , Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Battery Packs
- DC-DC Converters
- Controller And Inverter
- Motor
- Onboard Charger
6.4. Global Transport Vehicle Components Market, Segmentation By Sale Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- OEM (Original Equipment Manufacturer)
- Aftermarket
7. Transport Vehicle Components Market Regional And Country Analysis
7.1. Global Transport Vehicle Components Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Transport Vehicle Components Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/xskgc5
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