The Auto Parts Manufacturing Market to witness an exponential spike in the next decade
Persistence Market Research (PMR) has released a new market study on the auto parts manufacturing market that includes the global industry analysis for 2014–2018 and forecast for 2019–2029. The report on auto parts manufacturing summarizes macroeconomic factors that could assist and influence the growth of the market and forecast factors. The market for auto parts manufacturing was estimated at ~US$ 363 Bn in 2018 and is anticipated to reach a value of ~US$ 532 Bn by the end of 2029, influenced by the cyclic trend of the automotive industry and new product launches. The auto parts manufacturing market is expected to grow at a moderate CAGR of ~3% during the assessment period. Prominent automotive parts and components including battery, cooling system, engine & drive train components, underbody components, lighting components, and electrical components are considered in the report. OEM and aftermarket sales channels are considered in the auto parts manufacturing market. Additionally