Auto Parts Manufacturing in the US - Industry Market Research Report

Open road: Rising demand in the auto industry will increase the need for auto parts

Auto parts manufacturers build multiple items, including exhaust systems, airbags, heating, ventilation, air conditioning systems (HVAC) and filtration devices. The industry faced major challenges during COVID-19, when social distancing significantly reduced travel and weakened manufacturing processes, resulting in a major decline in revenue. Mass vaccination in 2021 led to the relaxation of pandemic restrictions, which has spurred recreational activity through 2023. As more people drive because of increased outdoor fun, new car sales have risen, along with the need for repairs on vehicles resulting from more traveling. These factors have caused spending on auto parts for new and existing vehicles to rise, raising revenue for auto parts manufacturers. Companies in this industry manufacture and rebuild various motor vehicle parts and accessories. These parts include airbags, air conditioners, catalytic converters, exhaust systems, mufflers and resonators, radiators, radiator cores and wheels. Engines, tires, brakes, steering systems, interiors, suspensions, transmissions and automotive electronics are not included in the industry. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.