Motor Vehicle Parts Global Market Report 2021 - COVID-19 Impact And Recovery

The Business Research Company’s Motor Vehicle Parts Global Market Report 2021 - COVID-19 Impact And Recovery

LONDON, GREATER LONDON, UK, November 23, 2021 /EINPresswire.com/ -- Technological Advances - Advances in technology are expected to be a continued driver of motor vehicle electrical & electronic equipment, steering suspension, & interiors market growth in the forecast period. The global transport manufacturing industry has experienced many technological advances in the last decade and this trend is expected to intensify. According to Forbes, the ten new features to expect in vehicles by 2020 include autonomous driving, driver override systems, biometric vehicle access, comprehensive vehicle tracking, active window displays, remote vehicle shutdown, active health monitoring, four-cylinder supercars, smart and personalized in-car marketing and reconfigurable body panels. These innovations are expected to drive the motor vehicle parts manufacturing market during the forecast period.

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The global motor vehicle electrical & electronic equipment, steering suspension, & interiors market size is expected to grow from $2.65 trillion in 2020 to $2.78 trillion in 2021 at a compound annual growth rate (CAGR) of 5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.81 trillion in 2025 at a CAGR of 8%.

Asia Pacific was the largest region in the global motor vehicle electrical & electronic equipment, steering suspension, & interiors market, accounting for 45% of the market in 2020.Western Europe was the second largest region, accounting for 22% of the global market. Africa was the smallest region in the motor vehicle electrical & electronic equipment, steering suspension, & interiors market.

Read More On The Global Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Report:
https://www.thebusinessresearchcompany.com/report/motor-vehicle-parts-global-market-report-2020-30-covid-19-impact-and-recovery

Major players covered in the global motor vehicle parts industry are Robert Bosch, Denso Corporation, Magna International Inc., Aisin Group, Continental Automotive Systems Corporation.

TBRC’s global motor vehicle electrical & electronic equipment, steering suspension, & interiors market report is segmented by type into motor vehicle body, stamped metal & other parts, motor vehicle engine, power train & parts, motor vehicle electrical & electronic equipment, steering suspension, & interiors, by application into passenger vehicle, commercial vehicle, by end use into OEM, aftermarket.

Motor Vehicle Parts Global Market Report 2021 - By Type (Motor Vehicle Body, Stamped Metal & Other Parts, Motor Vehicle Engine, Power Train & Parts, Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors), By Application (Passenger Vehicle, Commercial Vehicle), By End Use (OEM, Aftermarket), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides motor vehicle electrical & electronic equipment, steering suspension, & interiors market overview, forecast motor vehicle electrical & electronic equipment, steering suspension, & interiors market size and growth for the whole market, motor vehicle electrical & electronic equipment, steering suspension, & interiors market segments, and geographies, motor vehicle electrical & electronic equipment, steering suspension, & interiors market trends, motor vehicle electrical & electronic equipment, steering suspension, & interiors market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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