Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Auto Conversion Parts Market Size is Expected to Grow from USD 5.65 Billion in 2023 to USD 11.36 Billion by 2033, Growing at a CAGR of 7.23% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Auto Conversion Parts Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Engine Conversion Kits, Transmission Conversion Kits, Suspension Conversion Kits, Brake Conversion Kits, Others), By Sales Channel (OEMs, Aftermarket), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, And Africa), Analysis and Forecast 2023 – 2033
The worldwide auto conversion parts market refers to the business concerned with manufacturing and distributing products designed to modify or convert vehicles for specific purposes or to enhance their performance. The market growth is influenced by rising consumer demand for vehicle performance improvements and modifications, as well as advancements in technology for automobiles. Further, growing off-road vehicle ownership and motorsports activities boost the market expansion. Beyond that, rising awareness about environmental issues drives this market growth. However, market growth could be impeded by high production expenses, price fluctuations, and strict regulatory compliance.
The engine conversion kits segment accounted for the highest share of the global auto conversion parts market in 2023 and is anticipated to grow at a notable CAGR over the forecast period.
On the basis of the product type, the global auto conversion parts market is divided into engine conversion kits, transmission conversion kits, suspension conversion kits, brake conversion kits, and others. Among these, the engine conversion kits segment accounted for the highest share of the global auto conversion parts market in 2023 and is anticipated to grow at a notable CAGR over the forecast period. This segment growth is driven by the growing need to replace or upgrade a vehicle's current engine to improve performance, efficiency, or compatibility with alternative fuels, the growing emphasis on fuel efficiency, and emission reduction.
The OEMs segment held the highest share of the global auto conversion parts market in 2023 and is anticipated to grow at a substantial CAGR over the forecast period.
On the basis of the sales channel, the global auto conversion parts market is divided into OEMs and aftermarket. Among these, the OEMs segment held the highest share of the global auto conversion parts market in 2023 and is anticipated to grow at a substantial CAGR over the forecast period. This is because components are made especially for the proper model, with their excellent quality, compatibility, and dependability.
Asia Pacific is anticipated to hold the largest share of the global auto conversion parts market over the forecast period.
Asia Pacific is projected to hold the greatest revenue share of the global auto conversion parts market over the forecast period. The regional market expansion is influenced by the growing automobile sector and rising consumer incomes. Further, China, India, and Japan are among the nations that are becoming important contributors to the regional market's growth due to their well-developed automotive sectors. Furthermore, conversion kits are in high demand due to the expanding trend of vehicle personalization as well as growing interest in off-road and motorsport activities, which boost the market expansion.
Europe is anticipated to grow at the fastest CAGR of the global auto conversion parts market over the forecast period. The market expansion is driven by strict emission standards and an increasing emphasis on green technologies. Moreover, nations like France, Germany, and the United Kingdom are dominating the regional market due to the growing popularity of electric and hybrid cars. Further bolstering market expansion are the region's robust automotive engineering and manufacturing capabilities.
Company Profiling
Major vendors in the global auto conversion parts market are Bosch Mobility Solutions, Magna International Inc., Continental AG, ZF Friedrichshafen AG, Denso Corporation, Aisin Seiki Co., Ltd., Valeo SA, Lear Corporation, Faurecia S.A., BorgWarner Inc., Hyundai Mobis, Delphi Technologies, Marelli Holdings Co., Ltd., Tenneco Inc., Hella GmbH & Co. KGaA, Johnson Controls International plc, Hitachi Automotive Systems, Ltd., Robert Bosch GmbH, Panasonic Automotive Systems, Sumitomo Electric Industries, and others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global auto conversion parts market based on the below-mentioned segments:
Global Auto Conversion Parts Market, By Product Type
Global Auto Conversion Parts Market, By Sales Channel
Global Auto Conversion Parts Market, By Regional
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