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World’s Top 10 Automotive Aftermarket Suppliers

World’s Top 10 Automotive Aftermarket Suppliers
As the complexity of an automotive vehicle is increasing, the global aftermarket repair business is heading towards new opportunities and challenges. Components like cameras, sensors, and software will constitute an increasing part of future vehicles.
 

World’s Top 10 Automotive Aftermarket Suppliers

  1. Robert Bosch GmbH
  2. Denso Corp.
  3. Magna International Inc.
  4. Continental AG
  5. ZF Friedrichshafen AG
  6. Aisin Seiki Co.
  7. Hyundai Mobis
  8. Lear Corp.
  9. Valeo SA
  10. Faurecia
World’s Top 10 Automotive Aftermarket Suppliers
 
 

Automotive Aftermarket Introduction

The automotive aftermarket serves as a tributary market of the automotive industry. The aftermarket is concerned with the manufacturing, distribution, retailing, and installation of automotive components, equipment, and accessories to the consumer. OEMs may not manufacture these parts, accessories, etc. and thus provides an opportunity for other manufacturers. 
Aftermarket can be divided into two broad categories: 
  • Replacement parts are automotive parts built or remanufactured to replace OE parts as they become worn or damaged.
  • Accessories parts are made for comfort, convenience, safety, performance or customization, and are add-on after the original sale of the motor vehicle.

Global Automotive Aftermarket Scenario

In the mature aftermarkets of North America and Europe, the pace of consolidation will accelerate, and competition will arise from unexpected players – for instance, digital natives pursuing opportunities to move into the automotive aftermarket space. According to McKinsey digital players (e.g., Google, Amazon, and eBay) will gain a significant share of revenues and profits of the automotive aftermarket by 2030.
 
Within the automotive industry, the aftermarket is an essential part, accounting for 15-20% of the total value of the sector. Globally, the parts market will grow from currently EUR 398 billion to EUR 566 billion by 2025. Whereas mature markets like Western Europe, North America, and Latin America will see growth rates of 3% or below, Eastern Europe will grow by 5.7% and Asia by 8.6%. Asia will almost double its size and constitute nearly 30% of the global market. (Source: Qvartz) 
 
It is expected that China policy towards light vehicle population will account for about a fifth of the USD 1,196 bn global automotive aftermarket in 2030.
 
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Leading Automotive Aftermarket Companies in World

1.Robert Bosch GmbH

In 2018, Bosch saw positive business developments in Europe, with sales rising to 41 billion euros. This equates to an increase of 2.1 percent, or 3.7 percent after adjusting for exchange-rate effects. Most of this growth came from Germany and Austria. Bosch is one of the world’s largest automotive suppliers and is active in various subsegments. The business sector comprises the following divisions: Powertrain Solutions, Chassis Systems Control, Starter Motors and Generators, and others. According to preliminary figures, the supplier of technology and services generated sales from operations of 77.9 billion euros last year. Sales results were hit hard by exchange-rate effects to the tune of 2.1 billion euros. Adjusted for exchange-rate effects, revenue rose 4.3 percent. The mobility solution contributed around euro 47 billion in 2018.

2.Denso Corp.

DENSO is a global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 211 facilities in 35 countries to produce thermal, powertrain, mobility, electrification, & electronic systems. DENSO's Consolidated revenue totaled as of March 2019 was 5,362.8 billion yen (USD 48.3 billion), a 5.0 percent increase from the previous year.

3.Magna International Inc.

Magna International Inc. is a mobility technology company that is helping pave the way to the future with innovative products and processes. Company has more than 174,000 entrepreneurial-minded employees and 348 manufacturing operations and 91 product development, engineering and sales centers in 28 countries. Magna posted record sales of $40.8 billion for the year ended December 31, 2018, an increase of 12% from the year ended December 31, 2017. Sales for Seating Systems increased 10% or $130 million to $1.44 billion for the fourth quarter of 2018 compared to $1.31 billion for the fourth quarter of 2017. 

4.Continental AG

The Continental Corporation comprises 572 companies, including non-controlled companies, in addition to the parent company Continental AG. The Continental team is made up of 243,226 employees at a total of 544 locations in 60 countries and markets. The postal addresses of companies under our control are defined as locations. Company's 2018 Corporate sales amounted to €44,404 million in the 2018 fiscal year. Automotive sales accounted for €26.9 billion.

5.ZF Friedrichshafen AG

ZF is a global technology company and supplies systems for passenger cars, commercial vehicles, and industrial technology, enabling the next generation of mobility. With. Company's financial base remains strong with sales rising to €36.9 billion in 2018. The Group invested €2.5 billion in research and development and €1.6 billion in property, plant, and equipment and intangible assets. ZF was able to achieve sales growth in all regions which, however, was impacted by negative exchange rate effects. Due to the stable market development in Europe, sales in 2018 amounted to €17,390 million across all divisions.

6.Aisin Seiki Co.

With 14 core Group companies in Japan, AISIN Group has grown and developed through the application of advanced technological capabilities, supporting vehicle manufacturers around the world through its global network. AISIN Group is accelerating the development of competitive new products by focusing the resources of its 211 companies into the four business areas of Powertrain, Chassis & Vehicle Safety System, Body, and ICT & Electronics. In fiscal 2018, revenue amounted to a record high ¥3,908.9 billion, an increase of ¥346.3 billion in comparison with fiscal 2017, due primarily to brisk sales worldwide of automatic transmissions (AT) and automotive body parts, coupled with contributions from the newly consolidated Art Metal Mfg.

7.Hyundai Mobis

South Korea's Hyundai Mobis is an automotive parts affiliate of Hyundai Motor, and one of the world's largest parts-affiliated suppliers. In the past, the company produced rail cars and military supplies, but it was spun off to specialize in auto parts. In 2000, the company changed its name to Hyundai Mobis. Hyundai Mobis operates through the following business divisions: Module, Core Automotive Parts, Future Automobile Industry, After-Sales Parts, Overseas Original Equipment Manufacturer and Purchasing. Company's revenue in 2018 was USD 31.94 billion.

8.Lear Corp.

Lear Corporation is a leading Tier 1 supplier to the global automotive industry. We supply seating, electrical distribution systems, and electronic modules, as well as related sub-systems, components, and software, to all of the world's major automotive manufacturers. Global sales of Lear Corp. was USD 21.14 billion in 2018. Lear is a recognized global leader in complete automotive seat systems and key individual seat components. The Seating segment consists of the design, development, engineering, just-in-time assembly and delivery of complete seat systems, as well as the design, development, engineering and manufacture of all major seat components, including seat covers and surface materials such as leather and fabric, seat structures and mechanisms, seat foam and headrests, as well as seating-related electrical and electronics (including software products).

9.Valeo SA

Valeo is a global automotive supplier and partner to all automakers worldwide. Valeo 2018 sales were 19.3 billion euros, up 6% from 2017. Valeo is strongly positioned in the electric, autonomous and connected vehicle segment on a deeply changing automotive market.

10.Faurecia

Faurecia all 2018 financial targets were achieved despite headwinds in the second half of the year. Faurecia’s capability to meet its 2018 financial targets despite headwinds in the second half demonstrates the resilience of its business model and its agility to adapt to volatile market conditions. Faurecia's global sales were €17,525 million in 2018, Europe sales were totaled €8,858 million in 2018 vs. €8,503 million in 2017. North America sales totaled €4,474 million in 2018 vs. €4,473 million in 2017.
 
 
 
 

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