Worldwide Commercial Vehicles Body Parts Market Size showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ XXXX over the forecast period. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of XX.XX% during the forecast period, i.e. 2017-2025.     

Worldwide Commercial Vehicles Body Parts Market Growth Opportunities (Revenue, Growth) By 2017-2025

Vehicle body parts are important for manufacturing of various commercial vehicles as they play together in a sync to make the manufactured vehicle work smoothly. The market for commercial vehicles body part is expected to boost in the coming future for a number of reasons such as growing automotive industry, production of customized commercial vehicles.

Market Dynamics

Commercial vehicles body parts market is expected to expand at a significant pace over the forecast period, owing to escalating demand of customized vehicles, coupled with growth in demand of technologically advanced vehicles, in which advanced automotive body parts have been used. Growing demand of brake pads with low amount of heavy metals and copper within it is also driving the growth of the market. Also, rising demand of modified motor pumps and high density vehicle batteries are expected to propel the growth of the market during the forecast period. Furthermore, increase in manufacturing or production of customized vehicles or vehicles body building can fuel the growth of commercial vehicles body parts market. Growth in overall automobile industry across major regions of the world is another major factor that is contributing greatly in the growth of the market. However, high tax on vehicle imports, rising threats of substitutes, and growing demand of electric vehicles can restrict the growth of commercial vehicles body parts market.

Segment Analysis 

In 2017, engine segment accounted for the largest market share of 47% among components. The segment is expected to witness continuous growth over the forecast period, due to its higher relevance in making the vehicle move. The modification in engine and reduction in size of commercial vehicle engine is anticipated to aid the growth of the segment in the upcoming years.

Among vehicle type, passengers car segment is expected to grow at a faster pace owing to rising number of consumers that are interested in buying personal vehicles, especially cars in order to make their commute convenient. LCV segment is expected to witness noteworthy growth over the forecast period, due to rising demand of public light weight vehicles such as private vans, travellers and pooling cars.

Regional Analysis

Asia Pacific is projected to grow significantly over the forecast period, and hold the major revenue share owing to growing automobile industry in the region. Presence of global commercial vehicles body parts manufacturers in the region is also one of the significant reasons for the growth of commercial vehicles body parts market of the region. Rising governmental support to automotive industry in Asia Pacific and presence of favorable environment for the growth of automotive sector in countries such as Japan, India, China, Singapore, and others are expected to aid in the continuous growth of the market.

Worldwide Commercial Vehicles Body Parts Market Size, Share Analysis By Region 2017

In North America, rising number of customize car demand and commercial vehicle body builder companies is a clear indication of the anticipated growth in global commercial vehicles body parts market. Furthermore, presence of market players such as Ford Motor Company, General Motors, Fiat Chrysler Automobiles, Honda Motor, Toyota Motor Corporation, Nissan Motor Company and others in North America is also one of the significant reasons for the growth of the region during the forecast period.

Middle East and Africa market gaining attraction of the investment for the companies for more scope in the regions and expected to rise healthy growth over the forecast period.

Global Commercial Vehicles Body Parts Market Study Objective

1. To forecast the market size of commercial vehicles body parts market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of commercial vehicles body parts market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of commercial vehicles body parts market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of commercial vehicles body parts market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the commercial vehicles body parts market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

7. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

8. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Bottom-up and top-down are two main approaches that were taken into account to anticipate and validate the market size of commercial vehicles body parts market, and to reach the anticipated market size of several dependent submarkets. The research and study involved massive utilization of secondary data sources, several directories, private and government websites, and authentic databases, to collect or gather market-oriented as well as technical information for the study of commercial vehicles body parts market commercially.

Key Players

Major players performing in commercial vehicles body parts market includes Continental AG, Magna International Inc., Denso Corporation, Aptiv Plc., Robert Bosch GmbH, Valeo SA, ZF Friedrichshafen AG Brembo SpA, and Magneti Marelli SpA.

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