Automotive Parts

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The Automotive Parts Market encompasses the manufacturing and distribution of parts for Original Equipment Manufacturers (OEMs) and the aftermarket segment (replacement and repair). This massive global industry is undergoing a significant transformation driven by the shift towards electric vehicles (EVs), the integration of Advanced Driver-Assistance Systems (ADAS), and connected vehicle technologies.

Global Automotive Parts Market was valued at approximately USD 1.2 trillion in 2023 and is projected to reach around USD 1.7 trillion by 2030. This represents a Compound Annual Growth Rate (CAGR) of 5.1% over the forecast period, driven primarily by the electrification wave and sustained aftermarket demand. The electrical & electronics segment is expected to exhibit the fastest growth.

CSTM






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