Automotive OEM Market is driven by rapidly increasing sales of electric vehicles with a healthy CAGR of ~4.3% during the forecast period of 2023 to 2032

According to MRFR analysis, the global Automotive OEM market is expected to register a CAGR of ~4.3 % from 2022 to 2032 and hold a value of over USD 50.5 billion by 2032.

The automotive OEM (Original Equipment Manufacturer) market refers to the production and supply of vehicles by the manufacturers who design and assemble them with their own brand name.

These OEMs are responsible for the entire manufacturing process, including engine, chassis, body, interior, and electrical components. The COVID-19 pandemic had a significant impact on the automotive OEM market. The temporary shutdown of manufacturing facilities, disruptions in the supply chain, and reduced consumer demand initially led to a decline in production and sales.

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However, as lockdown measures eased and economic activities resumed, the market started to recover. The shift towards electric and autonomous vehicles, increased focus on sustainability, and the need for advanced safety features are driving the demand for automotive OEMs. Manufacturers are also adapting to changing customer preferences, integrating digital technologies, and emphasizing sustainable practices to navigate the post-pandemic landscape.

Key Players

• Toyota Motor Corporation
• Volkswagen AG
• Nissan
• Honda Motor Co.
• Magna International Inc.
• Continental AG
• CIE automotive
• Siemens
• BMW AG
• Exide Industries Limited
• Denso Corp
• Robert Bosch, GMbH.
• Valeo
• Aptiv
• Ford Motor Company
• Mitsubishi Motors Corp

Regional Analysis

North America and Europe are major regions in the market, driven by the presence of established automotive manufacturers and a strong consumer base. These regions have well-developed automotive industries with a focus on technological advancements and regulatory compliance.

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Asia-Pacific, particularly China, India, and Japan, is witnessing significant growth in the market due to increasing vehicle production, rising disposable incomes, and a growing middle class. Latin America and the Middle East are emerging markets, with a growing demand for automobiles and investments in the automotive sector. The regional growth of the automotive OEM market is influenced by factors such as economic conditions, government policies, infrastructure development, and consumer preferences.

Market Segmentation

The Global Automotive OEM market has been segmented into Component, Vehicle Type and Distribution Channel

Based on Component: Powertrain, Chassis, Electronics and Electrical, External Body and Car Interiors

Based on Vehicle Type: Commercial vehicles, Passenger cars and Electric cars

Based on Distribution Channel: Retailers, Wholesalers and Distributors

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