$533 Bn Automotive Performance Parts Market Opportunities And Strategies To 2033, Driven By Customization Demand, Urbanization, And E-Commerce Expansion Despite High Costs

(MENAFN- GlobeNewsWire - Nasdaq) Growth in the historic period resulted from the steady expansion of the automotive industry, increased disposable income, growth in motorsports and racing activities and growing popularity of off-road vehicles. Factors that negatively affected growth in the historic period include intense competition among global manufacturers and increase in counterfeit products. Going forward, the increasing demand for fuel-efficient vehicles, rising consumer interest in vehicle customization, increasing urbanization, expansion of automotive repair and maintenance services, expansion of e-commerce, stringent emission regulations and laws and growing demand for autonomous vehicles will drive the market. Factors that could hinder the growth of the automotive performance parts market in the future include the high cost of premium automotive performance parts and economic uncertainties or downturns.

Dublin, May 09, 2025 (GLOBE NEWSWIRE) -- The "Automotive Performance Parts Market Opportunities and Strategies to 2033" report has been added to ResearchAndMarkets.com's offering.
This report describes and explains the automotive performance parts market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global automotive performance parts market reached a value of nearly $322.3 billion in 2023, having grown at a compound annual growth rate (CAGR) of 2.7% since 2018. The market is expected to grow from $322.3 billion in 2023 to $412.9 billion in 2028 at a rate of 5.1%. The market is then expected to grow at a CAGR of 5.2% from 2028 and reach $533.1 billion in 2033.
The automotive performance parts market is segmented by product type into exhaust systems, suspension parts, brakes, fuel air and intake systems, transmission parts, power adders, and other product types. The power adders market was the largest segment of the automotive performance parts market segmented by product type, accounting for 27.5% or $88.7 billion of the total in 2023. Going forward, the power adders segment is expected to be the fastest-growing segment in the automotive performance parts market segmented by product type, at a CAGR of 6.2% during 2023-2028.
The automotive performance parts market is segmented by vehicle type into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars market was the largest segment of the automotive performance parts market segmented by vehicle type, accounting for 65.7% or $211.6 billion of the total in 2023. Going forward, the passenger cars segment is expected to be the fastest-growing segment in the automotive performance parts market segmented by vehicle type, at a CAGR of 5.4% during 2023-2028.
The automotive performance parts market is segmented by sales channel into first fit and aftermarket. The aftermarket market was the largest segment of the automotive performance parts market segmented by sales channel, accounting for 70.7% or $227.9 billion of the total in 2023. Going forward, the first fit segment is expected to be the fastest-growing segment in the automotive performance parts market segmented by sales channel, at a CAGR of 5.4% during 2023-2028.
Asia-Pacific was the largest region in the automotive performance parts market, accounting for 38.3% or $123.5 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the automotive performance parts market will be Asia-Pacific and South America, where growth will be at CAGRs of 6.15% and 5.36% respectively. These will be followed by the Middle East and Africa, where the markets are expected to grow at CAGRs of 5.02% and 4.87% respectively.
The global automotive performance parts market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 3.19% of the total market in 2023. ZF Friedrichshafen AG was the largest competitor with a 0.56% share of the market, followed by Mahle GmbH with 0.42%, Cummins Inc with 0.42%, LKQ Corp with 0.40%, EXEDY Corporation with 0.31%, Hyundai Mobis with 0.26%, Denso Corporation with 0.24%, Brembo NV with 0.20%, Holley Performance Products Inc with 0.19% and K&N Engineering Inc with 0.19%.
The top opportunities in the automotive performance parts market segmented by product type will arise in the power adders segment, which will gain $31 billion of global annual sales by 2028. The top opportunities in the automotive performance parts market segmented by vehicle type will arise in the passenger cars segment, which will gain $63.2 billion of global annual sales by 2028. The top opportunities in the automotive performance parts market segmented by sales channel will arise in the aftermarket segment, which will gain $62.3 billion of global annual sales by 2028. The automotive performance parts market size will gain the most in China at $21 billion.
Market-trend-based strategies for the automotive performance parts market include focus on advanced suspension and aerodynamic solutions to elevate vehicle performance for driving enthusiasts, launch of advanced e-commerce platforms to cater to the demands of racing enthusiasts, strategic partnerships and collaborations among major players to enhance product offerings, innovative exhaust systems designed to improve torque and power in popular vehicle models, focus on improving suspension geometry to achieve superior wheel alignment and cornering efficiency, focus on revolutionizing automotive collision repairs with advanced performance abrasives for all repair stages and improving motorcycle performance with cutting-edge cooling fan motors and sensor solutions.
Player-adopted strategies in the automotive performance parts market include focus on improving portfolio through strategic partnerships, enhancing operational capabilities through new product launches and enhancing business capabilities through investments.
To take advantage of the opportunities, the analyst recommends the automotive performance parts companies to focus on advanced performance enhancements, focus on innovating exhaust systems, focus on optimizing suspension geometry, focus on innovating collision repairs, focus on power adders segment for growth, expand in emerging markets, continue to focus on developed markets, focus on advanced e-commerce solutions, focus on the first fit segment for growth, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, focus on strategic partnerships for innovation and focus on passenger cars for growth.
Key Attributes:

Report Attribute	Details
No. of Pages	316
Forecast Period	2023 - 2033
Estimated Market Value (USD) in 2023	$322.29 Billion
Forecasted Market Value (USD) by 2033	$533.13 Billion
Compound Annual Growth Rate	5.2%
Regions Covered	Global

Major Market Trends

• Advanced Suspension and Aerodynamic Solutions To Elevate Vehicle Performance For Driving Enthusiasts
• Launch of Advanced E-Commerce Platforms To Cater To the Demands of Racing Enthusiasts
• Strategic Partnerships and Collaborations Among Major Players To Enhance Product Offerings
• Innovative Exhaust Systems Designed To Improve Torque and Power in Popular Vehicle Models
• Improving Suspension Geometry To Achieve Superior Wheel Alignment and Cornering Efficiency
• Revolutionizing Automotive Collision Repairs With Advanced Performance Abrasives For All Repair Stages
• Improving Motorcycle Performance With Cutting-Edge Cooling Fan Motors and Sensor Solutions

Automotive Performance Parts Market Segmentations

Market Segmentation by Product Type

• Exhaust Systems
• Suspension Parts
• Brakes
• Fuel Air and Intake Systems
• Transmission Parts
• Power Adders
• Other Product Types

Market Segmentation by Vehicle Type

• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
• Market Segmentation by Sales Channel
• First Fit
• Aftermarket

Key Mergers and Acquisitions

• Brembo Acquired Ohlins Racing
• Genuine Parts Company Acquired Motor Parts & Equipment Corporation
• Wharton Automotive Group Acquired Competition Clutch
• Samvardhana Motherson Automotive Systems Group Acquired Lumen Group
• Mutares Acquired High-Performance Plastic Parts Business of MANN+HUMMEL Group
• Loar Group Acquired Schroth Safety Products
• ZF Acquirea Majority Stake in Rane Group

Companies Featured

• ZF Friedrichshafen AG
• Mahle GmbH
• Cummins Inc.
• LKQ Corp
• EXEDY Corporation
• Hyundai Mobis
• Denso Corporation
• Brembo NV
• Holley Performance Products Inc
• K&N Engineering Inc.
• HKS Co Ltd.
• Tata Motors Limited
• Rane Group
• KW Automotive
• Mishimoto Automotive
• AEM Performance Electronics
• Toyota Motor Corporation
• Marelli Holdings Co Ltd.
• Aisin Corporation
• Akebono Brake Industry Co Ltd.
• Pecca Group
• CAR MATE Mfg Co Ltd.
• Lovells Automotive
• JRG Automotive Industries
• Faurecia
• Charles Trent
• Coats Group plc
• Continental AG
• Volvo Vehicles
• Robert Bosch GmbH
• Delphi Technologies
• Aptiv PLC
• Valeo
• Hella GmbH & Co. KGaA
• Arm Holdings plc
• Akrapovic
• Dinan Engineering
• ThyssenKrupp Technologies AG
• Schaeffler Group
• Stellantis
• Alpina Burkard Bovensiepen GmbH & Co KG
• Leoni AG
• Sparco CZ
• Raceland Coilovers & Air Suspension
• K&N Filters
• AvtoVAZ
• Skoda Auto a.s.
• Magna International Inc.
• Littelfuse Inc.
• Harman
• Auto Town Classics
• Prevail LLC
• Exkalibr
• Auto Concepts
• Metalenz Inc.
• Sila Nanotechnologies
• Actnano
• Citrine Informatics
• PreAct Technologies
• Manufacturing Technology Inc.
• Smart Modular
• EPS Global
• Nidec Mobility Brazil Ltda
• Martins Store
• Silva
• Express Micro Informatica
• Anno Domini Ltda
• Gazer
• Foxconn Technology Group
• Amp Intl Fzc
• Manoj Electronics Group of Companies
• Prime Motors
• Carhome Services Llc
• Chapin Enterprise Co Ltd.
• Shenzhen Vigreat Electronic Co Ltd.
• Essa Al Qassab Trading
• TecDoc Catalogue
• Seveni Pros Auto
• HDM Auto Electrical Parts
• Lances Auto Repairs
• Enduro Gearbox
• Automax Service and Fitment Centre
• Maidstone Auto Electrical
• Sonic Vision Technologies Pty Ltd.

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• Automotive Performance Parts Market

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