The revenue of the automotive component business was US$ 49.3 billion in FY20, increased to Us$ 39.05 billion in FY16, and it is predicted to reach US$ 200 billion by FY26.
During the same period, auto component exports expanded at a CAGR of 7.6%, reaching Rs. 102,623 crore (US$ 14.5 billion). Auto component exports from India are set to exceed US$ 80 billion by 2026, according to the ACMA.
This shows the rise in the demand for auto parts manufacturers in the world, highlighting the crucial role of the auto parts manufacturing industry in the global automotive sector.
The vehicle manufacturing base can be divided into two categories: organized and unorganized. The organized sector, original equipment manufacturers, consists of high-value precise instruments, whereas the unorganized sector, aftermarket items, consists of low-value goods.
Overview of the Automotive Industry
The automotive industry is a cornerstone of the global economy, encompassing the design, development, production, and sale of a wide range of vehicles, including passenger cars, commercial vehicles, and electric vehicles.
This sector is characterized by its complexity and dynamism, driven by continuous technological advancements, evolving consumer preferences, and a growing emphasis on sustainability.
At the heart of the automotive manufacturing industry lies the demand for highest standards automotive parts and components.
These essential elements, such as engine components, transmission systems, braking systems, fuel systems, and driver assistance systems, are crucial for the assembly and functionality of vehicles.
Original equipment manufacturers (OEMs) play a pivotal role in supplying these parts, ensuring that vehicles meet stringent performance and safety standards.
Plastic materials are extensively used in the automotive industry to manufacture various components, including interior and exterior parts, engine components, and fuel systems.
The shift towards sustainable and recyclable materials is gaining momentum, driven by the industry’s commitment to reducing its environmental footprint. This trend is fueling the demand for eco-friendly plastics, which offer both performance and sustainability benefits.
Production capacity is a critical factor in the automotive industry, determining the supply of vehicles to the market.
Advanced manufacturing technologies, such as CNC machining and injection molding, are employed to produce complex parts and components with high precision and shorter lead times. These technologies enable manufacturers to meet the growing demand for high-quality automotive solutions efficiently.
The rise of electric vehicles (EVs) is another significant trend shaping the automotive industry. Driven by government regulations and changing consumer preferences, the industry is investing heavily in the development of EVs.
This shift is creating a surge in demand for advanced automotive solutions, including battery management systems, electric motors, and charging infrastructure.
In summary, the automotive parts manufacturing industry is a multifaceted and ever-evolving sector, propelled by technological innovations, consumer trends, and a commitment to sustainability.
The industry’s reliance on advanced manufacturing technologies and sustainable materials underscores its dedication to producing high-quality, eco-friendly vehicles.
As the demand for electric vehicles continues to grow, the automotive industry is poised to lead the way in developing cutting-edge automotive solutions for a greener future.
Top 10 Auto Component Manufacturers in the World
Company Name | Year Established | |
1 | 1978 | |
2 | 1886 | |
3 | 1949 | |
4 | 1957 | |
5 | 1871 | |
6 | 1915 | |
7 | 1949 | |
8 | 1977 | |
9 | 1917 | |
10 | 1997 |
These companies are key players in the automotive components manufacturing industry, contributing significantly to its growth and innovation.
1. FOW Mould
Type of Business: Plastic Injection Molding
Location (Headquarters): China
Year Founded: 1978
Products offered:
- Auto parts mould
- Automotive moulds
- Interior components
- Exterior components
- Under-the-hood components
- Interior auto trim
- Decorative auto components
FOW Mould alone has 40 years of experience in delivering manufacturing services to businesses, specializing in developing superior automotive injection molding solutions for a number of industries.
FOW Mould is a prominent player in the auto parts industry, known for its innovative solutions and high-quality products.
All the moulds design, or automotive parts are created with the goal of being manufacturable as well as cost-effective and time-saving.
If your project is a project FOW, they provide all of the plastic injection mould services you’ll need under one roof, dedicated to giving you a hassle-free customer experience.
They are entirely capable of meeting your requirements, whether you require alternate materials, specialized finishes, or other injection moulding procedures.
2. Robert Bosch
Type of Business: Multinational Engineering & Technology
Location (Headquarters): Germany
Year Founded: 1886
Products offered:
- Car Service
- Motorsport
- Ebike systems
Bosch is a world-leading service provider. It has around 395,000 employees all across the world. In 2020, the corporation expects to achieve sales of 71.5 billion euros.
Logistics Services, Industrial Tech, Consumer Products, and Efficient building Innovation are the four business sectors in which it operates.
Bosch is working toward a vision of transportation that is environmentally friendly, safe, and fun. It offers customers linked, cross-domain options from a particular source, leveraging its experience in smart sensors, software, and operations.
As a leading auto parts manufacturer, Bosch continues to set standards for quality and innovation. Bosch improves people’s lives throughout the world by creating new products and services that elicit excitement.
3. Denso Corp.
Type of Business: Automotive components
Location (Headquarters): Japan
Year Founded: 1949
Products offered:
- Diesel fuel filter
- Relay
- Wiper rubber
DENSO is a multinational firm specializing in advanced transportation that improves the way the world works and helps to a better quality of life. They have a diverse product range and a global footprint as a Fortune 500 firm.
They are a well-known Tier 1 auto supplier and promoter, offering thermal, engine, mobility, electrical, and electronic systems to injection automakers and other manufacturers all over the world.
Denso Corp is a key player in the auto parts manufacturing industry, known for its advanced technologies and global reach.
4. Magna International Inc.
Type of Business: Automotive arts manufacturer
Location (Headquarters): Canada
Year Founded: 1957
Products offered:
- Automotive moulds
- Power & Vision
- Seating Systems
They started collaborating with General Motors. They now manufacture it all from seating to drivetrains and are the only auto provider that can construct whole vehicles.
They are a top global auto supplier committed to delivering innovative mobility concepts and services that will transform the globe. Magna International is a significant contributor to the auto parts manufacturing industry, offering a wide range of innovative solutions.
They engage over 158,000 people who are dedicated to providing exceptional value to their clients through cutting-edge processes and global production.
5. Continental
Type of Business: Multinational automotive manufacturer
Location (Headquarters): Germany
Year Founded:1871
Products offered:
- Passenger Cars
- 2-wheelers
- Automotive parts
- Buses & Trucks
Continental creates ground-breaking technology and services that enable people and their belongings to move in a healthy and connected manner.
Continental is a major player in the auto parts manufacturing , known for its cutting-edge technologies and comprehensive product range.
They’re merging their resources and focusing on high-value development sectors with Automotive Sciences.
6. ZF Friedrichshafen
Type of Business: Automotive Industry
Location (Headquarters): Germany
Year Founded: 1920
Products offered:
- Passenger cars
- LCV
- Busses
- Motorcycles
ZF is a leading technology business that develops and manufactures solutions for automobiles, commercial vehicles, and manufacturing technologies, facilitating the next era of transportation.
ZF Friedrichshafen is a leading entity in the automotive parts manufacturing industry, providing innovative solutions for the next generation of transportation.
With its extensive technology range, the company provides integrated transit and connectivity solutions to renowned auto makers, mobility suppliers, and start-up businesses.
7. Aisin Seiki Co.
Type of Business: Industrial Solutions
Location (Headquarters): Japan
Year Founded: 1943
Products offered:
- Powertrain
- Body
- Connection & Sharing Solutions
- Aftermarket
Through its elevated technical skills, the AISIN Group offers a broad range of solutions that span practically all elements that make up a vehicle in order to realise an environmentally friendly mobility society.
Aisin Seiki Co. is a prominent player in the automotive parts manufacturing industry, offering a wide range of high-quality solutions.
They contribute to the development of an eco-friendly society by supplying energy-related products that are clean and highly efficient.
8. Hyundai Mobis.
Type of Business: Auto Manufacturers
Location (Headquarters): South Korea
Year Founded: 1961
Products offered:
- Powertrain
- Body
- Connection & Sharing Solutions
- Engine transmissions
- Suspensions
Hyundai Mobis has evolved into an auto components corporation, employing over 30,000 people over 32 production locations in ten countries and ranked eighth in the worldwide car parts market.
Hyundai Mobis is a key entity in the auto parts manufacturing industry, known for its extensive product range and innovative technologies.
It boasts the world’s biggest hydrogen fuel cell manufacturing plant and is working to turn the world into a hydrogen metropolis by extending its usage and energy generation networks beyond autos to include drones, railways, and ships.
9. Lear Corp
Type of Business: Global Automotive Technology
Location (Headquarters): USA
Year Founded:1971
Products offered:
- Seating
- E systems
- Software
They care for each other, their vendors, and their clients, as well as the ecosystem and the surrounding communities and operate.
Lear Corp is a significant player in the auto parts manufacturing industry, offering advanced automotive technologies and solutions. They do everything from building cutting-edge intelligent car experiences to optimising processes.
10. Faurecia
Type of Business: Global Automotive Supplier
Location (Headquarters): France
Year Founded: 1997
Products offered:
- Cockpit
- Seatings
- Steerings
Faurecia’s purpose is to develop technology for Sustainable Transportation and to create personalized experiences for the Aviation of the Future, with 266 manufacturing sites, 39 R&D facilities, 3D printing and prototyping, and 114,000 people in 35 countries.
At the same hand, they offer answers that are consistent with their principles to tackle the issues that future generations will face.
Faurecia is a major contributor to the auto parts manufacturing industry, known for its innovative and sustainable solutions.
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Conclusion
The auto component industry is divided into two categories: organized and unorganized. These are vast and complicated. In order to make it easier for you and your business, we have brought to you the top 10 automotive plastic parts manufacturers in the world.
The auto parts manufacturing industry plays a crucial role in supporting the global automotive sector, driving innovation and economic growth.
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