The global automotive OEM market is projected to have an average-paced CAGR of 4.17% during the forecast period. The current valuation of the market is US$ 35.16 Billion in 2023. The market value of the automotive OEM market is anticipated to surpass a market valuation of US$ 52.90 Billion by the year 2033. A historical market valuation of US$ 32.4 Billion has been recorded by the analysts of Future Market Insights for the concerned market during the base year. This growth is supported by:
| Report Attribute | Details |
|---|---|
| Automotive OEM Market Value (2023) | US$ 35.16 Billion |
| Automotive OEM Market Anticipated Value (2033) | US$ 52.90 Billion |
| Automotive OEM Projected Growth Rate (2023 to 2033) | 4.17% |
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Although the market is projected to have healthy growth through the forecast period, there are certain elements identified that are likely to hinder the pace of advancement in the long run. The high cost associated with the OEM parts and components is a major impeding factor of the market.
Additionally, it is identified that there is a prevalence of counterfeit OEM products that are most likely to pose a threat and challenge the market expansion of automotive OEMs through the foreseen years.
After an in-depth analysis of the market, it has been revealed that there is rigorous innovation in technology across the automotive OEM sphere. The manufacturers in the automotive OEM market are unraveling advancements in their product offerings to further expand the market through 2033.
Governments across developing nations have made stringent regulations and policies for the attainment of fuel efficiency in vehicles. In addition to that regulations have also been formulated to keep vehicle emissions under control. Owing to government initiatives, the demand for vehicles across the globe is on a rapid rise. This aspect is estimated to stir up the market dynamics in the automotive OEMs market through 2033.
Principal Consultant
It is identified that the automotive OEM market is witnessing an unprecedented surge in the recent few years. There has been an approximate rise of US$ 2.76 Billion from the base year to the current. This growth in market valuation can be highly attributed to the technological innovations made in automotive OEMs.
There is a rising demand from consumers to enhance their digital experiences during the journey. They are willing to spend on cars that offer fully operational facilities, due to the rising disposable income across emerging economies. High demand for diesel engine vehicles, demand for batteries, and, a rise in demand for innovative automotive parts are expected to be prime elements fueling the sale of automotive OEMs during the period 2018 to 2022.
Commercial Vehicles – By Vehicle Type
It is identified that the commercial vehicle type segment is likely to exert dominance through the forecast period. This segment has been recording a significant pace of growth and has accounted for the largest market share from 2018 to 2022. Currently, the segment is moving forward at a moderate pace, registering a CAGR of 6.8% during the projection period.
This segment is likely to surpass all the other segments that include passenger cars and electric vehicles. The market is currently at a valuation of US$ 1,453.73 Million and is estimated to reach a market value of US$ 2,806.69 by 2033.
Manufacturers in the automotive OEM market are focusing on environmentally sustainable solutions and developing commercial vehicles that reduce carbon emissions. Furthermore, an increase in logistics and transportation in regard to e-commerce is a key reason fueling the commercial vehicle segment.
Powertrain – By Component Type
The powertrain segment by component type category is most likely to dominate the automotive OEM market through the forecast period. The segment is estimated to record a robust CAGR of 14.9% through 2033. Currently, the market is valued at US$ 109.63 Billion in 2023 and is likely to surpass a valuation of US$ 439.67 Billion by 2033.
The growth of this segment can be attributed to the demand for electric vehicles. The growth in environmental concerns and surge in energy consumption is fueling the adoption of powertrains. Growth in the innovation of hybrid vehicles, manufactured by renowned automobile companies is likely to foster the growth of the powertrains segment in the automotive OEM market.
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Statistics:
| Country/Region | Statistics |
|---|---|
| United States | The USA is expected to hold a significant market share for automotive OEMs through 2033. Currently, the country is responsible for an approximate CAGR of 6.6%. |
| Europe | The European automotive OEM market is anticipated to flourish at a considerable rate. This region accounted for a market share of 20.5% during the base year and is estimated to hold considerable shares through the projection period. |
| Japan | Japan is estimated to dominate the Asia-Pacific automotive OEM market through the forecast period. Sales of automotive in Japan have increased by 28.6% from 2018 to 2022. |
| Korea | Korea is identified to have notable growth in the automotive OEM market during the projection period. A 5.1% surge in the market share of automotive has been witnessed from 2022 to 2023. |
Growth Propellants:
| Country/Region | Growth Propellants |
|---|---|
| United States | The North American region is dominated by the USA The market across this domain is expanding due to the innovation in technologies. Another key factor contributing to the growth of the market in this country is the high-performance production of cars. Additionally, the development of automatic automotive is surging the automotive OEM market in the region. |
| Europe | The market in Europe is fostering due to the consistent rise in employment levels across the region. Germany has emerged as the leading country. Factors are inflating the GDP of the population. The rise in disposable income has boosted the production and sale of vehicles. This is making a major contribution to the growth of the automotive OEM market in Europe. |
| Japan | It is identified that the insurance companies are formulating their vehicle insurance premiums and policies as per the security levels of the vehicles manufactured. The wide base of customers are preferring personal cars with high-tech solutions for availing the lower rate of premium across Japan. This factor is expected to propel the market growth of automotive OEMs in the country. |
| Korea | Rising awareness about the environment and the development of cleaner vehicles with sustainable fuels is expected to bolster the market of automotive OEMs across Korea. Favorable government policies are estimated to further curate opportunities for key players in the market. |
Digitalization of Interfaces Gives an Edge to New Entrants for Penetrating the Market
The new entrants in the automotive OEM market are leveraging advancements in technology to launch new products and gain a competitive advantage. These firms are continually investing in research and development activities to keep themselves in tandem with the changing consumer preferences and end-use industry demands. Efforts are being made to strengthen their foothold in the market and aid the further progression of the automotive OEM market.
Cruise
This firm is a USA-based startup company that is creating self-driving vehicles, with the aim of linking places with people. This firm was formed in the year 2013 and they aim towards delivering experiences to customers in a safe and secure manner.
Minus Zero
This start-up organization is designing electric autonomous vehicles. It is an Indian start-up firm that is developing level-5 autonomous electric vehicles. The start-up combines nature-inspired artificial intelligence with edge computing that is less dependent on expensive sensor suites. Moreover, its driverless technology does not rely on lane marking for road mapping, ensuring accurate detections even on rough roads. The computer-vision-enabled edge hardware also allows higher frame rates for object detection and segmentation.
The manufacturers in the automotive OEM market are leveraging advancements in technology to launch new products and gain a competitive advantage. These firms are continually investing in research and development activities to keep themselves in tandem with the changing consumer preferences and end-use industry demands. Efforts are being made to strengthen their foothold in the market and aid the further progression of the automotive OEM market. Thus, the market is likely to witness significant growth through 2032.
Thales Group a French multinational company is making rigorous efforts to build and design electrical systems for automobiles. It is shifting its research and development focus towards automotive OEM virtual car keys that are likely to easily unlock cars with the use of smartphones.
Tesla is identified to gain popularity for its robust autonomous technology. It has recently released an over-the-air software update to strengthen its systems. In a way, automotive OEM manufacturers are identified to team up with experts and researchers for troubleshooting issues in the advanced systems.
Recent Developments
The growth outlook for the automotive OEM market is predicted to advance at a CAGR of 4.17% from 2023 to 2033.
The North American region is anticipated to lead the automotive OEM market during the forecast period.
The market valuation of the automotive OEM market stands at US$ 35.16 Billion in 2023.
The automotive OEM market is likely to hold a valuation of US$ 52.90 Billion by 2033.
The automobile industry sector is the key driver in the automotive OEM market.
1. Executive Summary | Automotive OEM Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2021
4.2. Current and Future Market Size Value (US$ Million) Projections, 2022 to 2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Component
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2017 to 2021
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2022 to 2032
5.3.1. Body
5.3.2. Electrical and Electronics
5.3.3. Interior
5.3.4. Power-Train and Chassis
5.3.5. Others
5.4. Y-o-Y Growth Trend Analysis By Component, 2017 to 2021
5.5. Absolute $ Opportunity Analysis By Component, 2022 to 2032
6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Vehicle Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Vehicle Type, 2017 to 2021
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Vehicle Type, 2022 to 2032
6.3.1. Commercial Vehicles
6.3.2. Passenger Cars
6.3.3. Electric Vehicles
6.4. Y-o-Y Growth Trend Analysis By Vehicle Type, 2017 to 2021
6.5. Absolute $ Opportunity Analysis By Vehicle Type, 2022 to 2032
7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Distribution Channel
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Distribution Channel, 2017 to 2021
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Distribution Channel, 2022 to 2032
7.3.1. OEM Retailers
7.3.2. Wholesalers
7.3.3. Distributors
7.4. Y-o-Y Growth Trend Analysis By Distribution Channel, 2017 to 2021
7.5. Absolute $ Opportunity Analysis By Distribution Channel, 2022 to 2032
8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2017 to 2021
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2022 to 2032
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa(MEA)
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
9.2.1. By Country
9.2.1.1. USA
9.2.1.2. Canada
9.2.2. By Component
9.2.3. By Vehicle Type
9.2.4. By Distribution Channel
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Component
9.3.3. By Vehicle Type
9.3.4. By Distribution Channel
9.4. Key Takeaways
10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Component
10.2.3. By Vehicle Type
10.2.4. By Distribution Channel
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Component
10.3.3. By Vehicle Type
10.3.4. By Distribution Channel
10.4. Key Takeaways
11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. United Kingdom
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Europe
11.2.2. By Component
11.2.3. By Vehicle Type
11.2.4. By Distribution Channel
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Component
11.3.3. By Vehicle Type
11.3.4. By Distribution Channel
11.4. Key Takeaways
12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
12.2.1. By Country
12.2.1.1. China
12.2.1.2. Japan
12.2.1.3. South Korea
12.2.1.4. Singapore
12.2.1.5. Thailand
12.2.1.6. Indonesia
12.2.1.7. Australia
12.2.1.8. New Zealand
12.2.1.9. Rest of Asia Pacific
12.2.2. By Component
12.2.3. By Vehicle Type
12.2.4. By Distribution Channel
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Component
12.3.3. By Vehicle Type
12.3.4. By Distribution Channel
12.4. Key Takeaways
13. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
13.2.1. By Country
13.2.1.1. GCC Countries
13.2.1.2. South Africa
13.2.1.3. Israel
13.2.1.4. Rest of Middle East and Africa(MEA)
13.2.2. By Component
13.2.3. By Vehicle Type
13.2.4. By Distribution Channel
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Component
13.3.3. By Vehicle Type
13.3.4. By Distribution Channel
13.4. Key Takeaways
14. Key Countries Market Analysis
14.1. USA
14.1.1. Pricing Analysis
14.1.2. Market Share Analysis, 2021
14.1.2.1. By Component
14.1.2.2. By Vehicle Type
14.1.2.3. By Distribution Channel
14.2. Canada
14.2.1. Pricing Analysis
14.2.2. Market Share Analysis, 2021
14.2.2.1. By Component
14.2.2.2. By Vehicle Type
14.2.2.3. By Distribution Channel
14.3. Brazil
14.3.1. Pricing Analysis
14.3.2. Market Share Analysis, 2021
14.3.2.1. By Component
14.3.2.2. By Vehicle Type
14.3.2.3. By Distribution Channel
14.4. Mexico
14.4.1. Pricing Analysis
14.4.2. Market Share Analysis, 2021
14.4.2.1. By Component
14.4.2.2. By Vehicle Type
14.4.2.3. By Distribution Channel
14.5. Germany
14.5.1. Pricing Analysis
14.5.2. Market Share Analysis, 2021
14.5.2.1. By Component
14.5.2.2. By Vehicle Type
14.5.2.3. By Distribution Channel
14.6. United Kingdom
14.6.1. Pricing Analysis
14.6.2. Market Share Analysis, 2021
14.6.2.1. By Component
14.6.2.2. By Vehicle Type
14.6.2.3. By Distribution Channel
14.7. France
14.7.1. Pricing Analysis
14.7.2. Market Share Analysis, 2021
14.7.2.1. By Component
14.7.2.2. By Vehicle Type
14.7.2.3. By Distribution Channel
14.8. Spain
14.8.1. Pricing Analysis
14.8.2. Market Share Analysis, 2021
14.8.2.1. By Component
14.8.2.2. By Vehicle Type
14.8.2.3. By Distribution Channel
14.9. Italy
14.9.1. Pricing Analysis
14.9.2. Market Share Analysis, 2021
14.9.2.1. By Component
14.9.2.2. By Vehicle Type
14.9.2.3. By Distribution Channel
14.10. China
14.10.1. Pricing Analysis
14.10.2. Market Share Analysis, 2021
14.10.2.1. By Component
14.10.2.2. By Vehicle Type
14.10.2.3. By Distribution Channel
14.11. Japan
14.11.1. Pricing Analysis
14.11.2. Market Share Analysis, 2021
14.11.2.1. By Component
14.11.2.2. By Vehicle Type
14.11.2.3. By Distribution Channel
14.12. South Korea
14.12.1. Pricing Analysis
14.12.2. Market Share Analysis, 2021
14.12.2.1. By Component
14.12.2.2. By Vehicle Type
14.12.2.3. By Distribution Channel
14.13. Singapore
14.13.1. Pricing Analysis
14.13.2. Market Share Analysis, 2021
14.13.2.1. By Component
14.13.2.2. By Vehicle Type
14.13.2.3. By Distribution Channel
14.14. Thailand
14.14.1. Pricing Analysis
14.14.2. Market Share Analysis, 2021
14.14.2.1. By Component
14.14.2.2. By Vehicle Type
14.14.2.3. By Distribution Channel
14.15. Indonesia
14.15.1. Pricing Analysis
14.15.2. Market Share Analysis, 2021
14.15.2.1. By Component
14.15.2.2. By Vehicle Type
14.15.2.3. By Distribution Channel
14.16. Australia
14.16.1. Pricing Analysis
14.16.2. Market Share Analysis, 2021
14.16.2.1. By Component
14.16.2.2. By Vehicle Type
14.16.2.3. By Distribution Channel
14.17. New Zealand
14.17.1. Pricing Analysis
14.17.2. Market Share Analysis, 2021
14.17.2.1. By Component
14.17.2.2. By Vehicle Type
14.17.2.3. By Distribution Channel
14.18. GCC Countries
14.18.1. Pricing Analysis
14.18.2. Market Share Analysis, 2021
14.18.2.1. By Component
14.18.2.2. By Vehicle Type
14.18.2.3. By Distribution Channel
14.19. South Africa
14.19.1. Pricing Analysis
14.19.2. Market Share Analysis, 2021
14.19.2.1. By Component
14.19.2.2. By Vehicle Type
14.19.2.3. By Distribution Channel
14.20. Israel
14.20.1. Pricing Analysis
14.20.2. Market Share Analysis, 2021
14.20.2.1. By Component
14.20.2.2. By Vehicle Type
14.20.2.3. By Distribution Channel
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Component
15.3.3. By Vehicle Type
15.3.4. By Distribution Channel
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. Toyota Motor Corporation
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.2. Volkswagen AG
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.3. Nissan
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.4. Honda Motor Co., Ltd.
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.5. Continental AG
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.6. Siemens
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.7. BMW
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.8. EXIDE INDUSTRIES LTD
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.9. DENSO Corporation
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.10. Robert Bosch, GMbH
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.11. Valeo
16.1.11.1. Overview
16.1.11.2. Product Portfolio
16.1.11.3. Profitability by Market Segments
16.1.11.4. Sales Footprint
16.1.11.5. Strategy Overview
16.1.11.5.1. Marketing Strategy
16.1.12. Ford Motor Company
16.1.12.1. Overview
16.1.12.2. Product Portfolio
16.1.12.3. Profitability by Market Segments
16.1.12.4. Sales Footprint
16.1.12.5. Strategy Overview
16.1.12.5.1. Marketing Strategy
16.1.13. MITSUBISHI MOTORS CORPORATION
16.1.13.1. Overview
16.1.13.2. Product Portfolio
16.1.13.3. Profitability by Market Segments
16.1.13.4. Sales Footprint
16.1.13.5. Strategy Overview
16.1.13.5.1. Marketing Strategy
16.1.14. ZF Friedrichshafen AG
16.1.14.1. Overview
16.1.14.2. Product Portfolio
16.1.14.3. Profitability by Market Segments
16.1.14.4. Sales Footprint
16.1.14.5. Strategy Overview
16.1.14.5.1. Marketing Strategy
16.1.15. BorgWarner Inc.
16.1.15.1. Overview
16.1.15.2. Product Portfolio
16.1.15.3. Profitability by Market Segments
16.1.15.4. Sales Footprint
16.1.15.5. Strategy Overview
16.1.15.5.1. Marketing Strategy
17. Assumptions & Acronyms Used
18. Research Methodology
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Automotive OEM Market
