The Transport Vehicle Components by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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The Transport Vehicle Components market, as analyzed by The Business Research Company, has exhibited robust growth in recent years, expanding from $753.75 billion in 2024 to an estimated $803.35 billion by the end of the same year, showcasing a noteworthy compound annual growth rate (CAGR) of 6.6%. This growth trajectory in the historical context can be primarily attributed to the evolutionary trends in automotive design, heightened demand for fuel efficiency, the globalization of supply chains, the advent of stringent emissions regulations, as well as breakthroughs in materials and manufacturing methodologies.
Projections indicate a continuation of this upward trend, with the Transport Vehicle Components market expected to surge to $1038.59 billion by 2028, maintaining a parallel CAGR of 6.6%. This anticipated expansion in the forecast period finds its roots in the proliferation of electrification initiatives, the advent of innovative lightweight materials, the burgeoning expansion of connected vehicle ecosystems, a notable emphasis on sustainable solutions, and the broadening landscape of urban mobility solutions.
The increasing demand for commercial vehicles is expected to propel the growth of the transport vehicle components market going forward. A commercial vehicle 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.
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The transport vehicle components market covered in this report is segmented –
1) By Type: Motor Vehicle Body, Stamped Metal, Motor Vehicle Engine, Power Train and Parts, Motor Vehicle Electrical and Electronic Equipment, Steering Suspension, Interiors
2) By Vehicle Type: Passenger Cars, Commercial Vehicles
3) By Component Type : Battery Packs, DC-DC Converters, Controller and Inverter, Motor, Onboard Charger
4) By Sale Channel: OEM (Original Equipment Manufacturer), Aftermarket
Examining the forecast period reveals several key trends that will shape the transport vehicle components landscape. These include a growing focus on supply chain resilience and localization, a rise in urban mobility solutions, an increased emphasis on sustainability and eco-friendly alternatives, the integration of safety measures and advanced driver-assistance systems (ADAS), and the continued expansion of connected vehicle ecosystems.
Key trends that are poised to shape the trajectory of the market include a pronounced focus on enhancing supply chain resilience and localization strategies, the escalating adoption of urban mobility solutions, a concerted drive towards sustainability and eco-friendly alternatives, the integration of advanced safety features such as Advanced Driver-Assistance Systems (ADAS), and the continued evolution of connected vehicle ecosystems.
Moreover, technological advancements stand out as a pivotal trend that is gaining significant traction within the Transport Vehicle Components market. Major industry players are diligently channeling their efforts towards the development of technologically sophisticated products, thereby fortifying their market positioning. For instance, in January 2021, FCA, a distinguished UK-based automaker renowned for its vehicle design, engineering, and manufacturing prowess, collaborated with Engie EPS and Terna, prominent technology players in Italy specializing in energy storage, hydrogen, and e-mobility. Together, they launched the inaugural phase of a groundbreaking Vehicle-to-Grid (V2G) pilot project in Turin, Italy. This pioneering initiative seeks to explore the viability of connecting company vehicles to the grid, harnessing the potential of vehicle batteries for diverse applications. Vehicle-to-grid technology empowers electric vehicle owners to leverage their batteries for supplemental purposes, whether by facilitating grid-controlled power distribution or by powering their residences during periods of peak demand.
The transport vehicle components market report table of contents includes:
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
5. Global Transport Vehicle Components Market Size and Growth
......
31. Global Transport Vehicle Components Market Competitive Benchmarking
32. Global Transport Vehicle Components Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Transport Vehicle Components Market
34. Transport Vehicle Components Market Future Outlook and Potential Analysis
35. Appendix
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