Automotive Parts Industry To Reach USD 151.2 Billion By 2032 With Asia-Pacific Holding 46% Of Parts Sales Value In 2026, Reports Mordor Intelligence

(MENAFN- GlobeNewsWire - Nasdaq) The automotive parts market is projected to grow at a CAGR of 4.38% during 2027–2032, the market is expanding as vehicle production rises, and software-enabled vehicles call for more upgradeable hardware. Combustion engine parts still form the largest base, while electric vehicle components are emerging as the main growth area for suppliers.

Hyderabad, India, Nov. 12, 2026 (GLOBE NEWSWIRE) -- According to the latest report by Mordor Intelligence, the automotive parts market size is projected to grow from USD 116.7 billion in 2026 to USD 151.2 billion by 2032, registering a CAGR of 4.38% from 2027 to 2032. Higher vehicle production, growing software and electronics content, and demand for repairs after warranty expiry are supporting market growth. However, recent chip supply disruptions highlight the risks associated with global supply chains, increasing the importance of suppliers with strong electronics capabilities and aftermarket networks.

Automotive Parts Market Trends and Drivers

Software-Defined Vehicles Drive Demand for Upgradeable Hardware: As vehicles increasingly rely on software updates to add or improve features, the need for capable and upgradeable computing hardware is growing. Automakers are expanding over-the-air update capabilities, making the hardware selected during production important for supporting vehicle functions throughout its life cycle.

Rise in Global Vehicle Production: Higher vehicle production increases demand for components installed across new vehicle programs. As assembly activity expands in key regions, suppliers can benefit from greater production volumes even when the parts used in each vehicle remain unchanged.

“Automotive parts suppliers face changing demand as vehicle electrification, production volumes, and aftermarket requirements influence component needs. Mordor Intelligence combines market-level evidence, consistent forecasting practices, and detailed segment and regional analysis to provide decision-makers with a transparent, commercially grounded view of industry developments.” says Phani Kumar, Senior Research Manager, Mordor Intelligence.

Automotive Parts Market Share by Region

Vehicle production conditions vary across N orth America and Europe, creating different demand patterns for automotive components. For suppliers, exposure to multiple national markets can help balance these differences and support demand across vehicle programs with varying production levels.

Asia-Pacific remains a key market for automotive parts, supported by strong vehicle manufacturing activity and expanding supplier operations. Investments in regional production facilities are also helping manufacturers serve demand across multiple countries, strengthening the region's position in the global automotive supply chain.

Automotive Parts Industry Segmentation

By Type

• Driveline and Powertrain

• Interior and Exterior

• Electrical and Electronics

• Body and Chassis

• Wheel and Tires

• Other Types

By Propulsion

• Internal Combustion Engine

• Battery-Electric Vehicle

• Hybrid Electric Vehicle

• Plug-in Hybrid Electric Vehicle

• Fuel-Cell Electric Vehicle

By Vehicle Type

• Passenger Car

• Commercial Vehicle

By Sales Channel

• Original Equipment Manufacturer (OEM)

• Aftermarket

Check out more details and stay updated with the latest industry trends, including the Japanese version for localized insights:

Automotive Parts Companies

• Robert Bosch GmbH

• Continental AG

• Denso Corporation

• ZF Friedrichshafen AG

• Magna International Inc.

• Valeo SE

• Hyundai Mobis Co. Ltd

• FORVIA SE

• Lear Corporation

• Aisin Corporation

• Aptiv Plc

• BorgWarner Inc.

• Schaeffler AG

• Cummins Inc.

• Contemporary Amperex Technology Co., Limited (CATL)

• Tenneco Inc.

• Brembo N.V.

• HL Mando Corporation

• ACDelco (GM Genuine Parts)

• Nidec Corporation

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Mordor Intelligence is a global market intelligence firm, founded in 2014, helping businesses make informed decisions through data-driven insights, industry expertise, and advanced analytics. With 550+ domain experts and on-ground specialists across 180+ countries, the company delivers comprehensive intelligence across aerospace & defense, agriculture, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, and logistics.

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