Global Automotive Performance Parts Market report from Global Insight Services is the single authoritative source of intelligence on Automotive Performance Parts Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Automotive performance parts are aftermarket parts that are designed to improve the performance of a vehicle. These parts can include anything from engine components to suspension parts to wheels and tires. Many people choose to install performance parts on their vehicles in order to increase horsepower, improve handling, or simply make their car look more aggressive. Some common performance parts include cold air intakes, exhaust systems, suspension kits, and engine modifications.
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Key Trends
One of the key trends in automotive performance parts technology is the increasing popularity of aftermarket parts. Aftermarket parts are those that are not made by the original equipment manufacturer (OEM), and they can provide significant improvements in performance. Many aftermarket parts manufacturers have invested heavily in research and development in order to create parts that offer significant improvements over OEM parts.
Another key trend is the increasing availability of high-performance parts for a wide range of vehicles. In the past, only a handful of vehicles were able to take advantage of aftermarket parts due to the limited selection. However, as the aftermarket parts industry has grown, so has the selection of parts available. This means that even relatively inexpensive vehicles can now be outfitted with high-performance parts, which can significantly improve their performance.
Finally, another key trend is the increasing use of computer-aided design (CAD) and computer-aided manufacturing (CAM) in the production of aftermarket parts. This technology allows for the creation of parts that are much more precise than those produced using traditional methods. This means that aftermarket parts can be made to tighter tolerances, which can lead to better performance.
Key Drivers
There are several key drivers of the automotive performance parts market. One of the most important drivers is the increasing demand for high-performance vehicles. As more and more people become interested in driving fast cars, they are also becoming more interested in upgrading their vehicles to get the most out of them. Another key driver of the automotive performance parts market is the increasing popularity of motorsports.
Another important driver of the automotive performance parts market is the advancement of technology. As new technologies are developed, they are often incorporated into performance parts to make them more effective. This has led to a continuous cycle of innovation in the performance parts market, as manufacturers strive to develop the best possible products.
Finally, another key driver of the automotive performance parts market is the increasing disposable income of consumers. As people have more money to spend, they are more likely to purchase items such as performance parts for their vehicles. This is especially true in developed countries, where the average person has a higher disposable income than in developing countries.
Market Segmentation
The Automotive Performance Parts Market is segmented by product type, vehicle type, sales channel, and region. By product type, the market is divided into exhaust systems, suspension parts, brakes and others. On the basis of vehicle type, the market is fragmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. By sales channel, the market is classified into first fit and aftermarket. By region, the market is classified into North America, Europe, Asia-Pacific and rest of the world.
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Key Players
The key players in the Automotive Performance Parts Market are Tenneco Inc., Robert Bosch GmbH, Continental AG, BorgWarner Inc., Mahle GmbH, Donaldson Company Inc., Holley Performance Products, Mitsubishi Heavy Industries, Ltd., Honeywell International Inc., and EXEDY Corporation.
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