Motor Vehicle Parts Market Report 2026

The motor vehicle parts market size has grown strongly in recent years. It will grow from $2.87 trillion in 2025 to $3.04 trillion in 2026 at a compound annual growth rate (CAGR) of 6%. The growth in the historic period can be attributed to growth of global vehicle ownership, expansion of aftermarket services, demand for replacement parts, vehicle lifecycle extension, industrial automotive manufacturing.

The motor vehicle parts market size is expected to see strong growth in the next few years. It will grow to $3.96 trillion in 2030 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to electric vehicle penetration, digitization of vehicle systems, demand for smart components, global vehicle parc growth, aftermarket digital platforms. Major trends in the forecast period include increasing demand for modular vehicle components, rising adoption of advanced automotive electronics, growing focus on lightweight structural parts, expansion of aftermarket parts distribution, higher emphasis on quality and durability.

The booming automobile sales are expected to drive the growth of the motor vehicle parts market in the coming years. Automobile sales refer to the number of new and used automobiles and light-duty vehicles purchased, typically through authorized dealer agreements with car manufacturers or their sales divisions. Demand for motor vehicle parts rises as vehicle production and sales increase. For instance, in May 2023, according to the Federal Chamber of Automotive Industries, an Australia-based business group representing importers and manufacturers of motorcycles, light vehicles, and passenger automobiles, Australia’s automotive sector produced 82,137 vehicles in April 2023, marking a 1.3% increase compared with the same period in 2022. Therefore, the growth in automobile sales is propelling the motor vehicle parts market.

Major companies in the motor vehicle parts market are focusing on expanding aftermarket product offerings, such as original equipment (OE)-quality components, to enhance vehicle reliability and support efficient maintenance and replacement. OE-quality aftermarket components are designed to meet original-equipment specifications for fit, performance, and durability, ensuring reliable operation and restoration of key vehicle systems. For instance, in July 2025, DRiV Incorporated, a US-based automotive aftermarket specialist, launched three OE-quality aftermarket product lines under its FP DIESEL and Wagner brands. These include FP DIESEL starters and alternators, FP DIESEL turbochargers, and Wagner HVAC compressors for trucks, buses, and passenger vehicles, featuring components built and tested to OE standards for durability, power delivery, and installation fitment across major commercial and passenger platforms. These expanded product lines enhance parts coverage in the Asia Pacific region, enable faster and more reliable maintenance for independent repairers and fleet operators, and provide cost-effective replacement options to maintain or restore vehicle performance and extend service life.

In August 2023, Ramkrishna Forgings Limited, an India-based manufacturer, acquired JMT Auto Limited for US$15 million (₹125 crore). Through this acquisition, Ramkrishna Forgings aimed to strengthen and diversify its auto-ancillaries business by adding high-precision forgings and transmission and axle-component manufacturing capabilities, thereby expanding its product portfolio and customer base in the heavy and commercial vehicle segments. JMT Auto Limited is an India-based auto-components manufacturer specializing in high-precision gearbox, axle, engine, and transmission components such as gears, shafts, and housings for medium and heavy commercial vehicles, tractors, and diesel-engine applications.

Major companies operating in the motor vehicle parts market report include Robert Bosch GmbH, Denso Corp, General Motors Co., Aisin Seiki Co ltd, Hyundai Mobis, Shanghai Automotive Industry Corporation, Tenneco, MAHLE GmbH, Ford Motor Company, Benteler South Africa, Mercedes-Benz Manufacturing Hungary, Dongfeng Motor Co. Ltd, Volkswagen, Martinrea International Inc., Continental AG, Magna International Inc, Nissan, Toyota Motor Corp, Honda Motor Co., Ltd., American Axle and Manufacturing Holdings, Bharat Forge, Mitsubishi Motor Corporation, Geely Automobile Holdings Limited, NIO Inc., NTN Corp., Marelli Holdings Co., Ltd., Fiat Chrysler Automobiles NV, Sumitomo, Mando, Linamar Corporation, XPeng Inc., Audi Hungaria Zrt, Renault, Jaguar Land Rover, Beijing Automotive Industry Company.

Asia-Pacific was the largest region in the motor vehicle parts market in 2025. Western Europe was the second largest market in motor vehicle parts market. The regions covered in the motor vehicle parts market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the motor vehicle parts market report include China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The motor vehicle part market consists of sales of motor vehicle seating, motor vehicle metal stampings, motor vehicle gasoline engines and engine parts, and interior trim. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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