The Transport Vehicle Components by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).

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In recent years, The Business Research Company's analysis reveals a robust expansion in the size of the transport vehicle components market, surging from $753.75 billion in 2024 to an anticipated $803.35 billion in the same year, reflecting a noteworthy compound annual growth rate (CAGR) of 6.6%. This growth trajectory is rooted in the transformative evolution of automotive design, a burgeoning global demand for fuel efficiency, the globalization of supply chains, the dynamic shifts in emissions regulations, and groundbreaking developments in materials and manufacturing processes during the historic period.

Projections for the near future are equally promising, with the market poised for substantial growth, reaching an impressive $1038.59 billion by 2028, driven by an unyielding CAGR of 6.6%. Anticipated factors contributing to this surge include the proliferation of electrification, the integration of innovative lightweight materials, the expansion of connected vehicle ecosystems, a heightened emphasis on sustainable solutions, and the burgeoning growth in urban mobility initiatives.

The increasing demand for commercial vehicles is expected to propel the growth of the transport vehicle components market going forward. A commercial vehicle is permitted to be used for the transportation of goods or materials rather than people. Commercial vehicles increasingly require components for their functioning, hence, the growth of this market will result in the growth of the transport vehicle components market. For instance, according to the International Organization of Motor Vehicle Manufacturers (OICA), a France-based international trade association whose members are 39 national automotive industry trade associations, the commercial vehicle production increased from 21,787,126 in 2020 to 23,091,693 in 2021. Therefore, increasing demand for commercial vehicles is expected to grow the transport vehicle components market.

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The transport vehicle components market covered in this report is segmented –
1) By Type: Motor Vehicle Body, Stamped Metal, Motor Vehicle Engine, Power Train and Parts, Motor Vehicle Electrical and Electronic Equipment, Steering Suspension, Interiors
2) By Vehicle Type: Passenger Cars, Commercial Vehicles
3) By Component Type : Battery Packs, DC-DC Converters, Controller and Inverter, Motor, Onboard Charger
4) By Sale Channel: OEM (Original Equipment Manufacturer), Aftermarket
Examining the forecast period reveals several key trends that will shape the transport vehicle components landscape. These include a growing focus on supply chain resilience and localization, a rise in urban mobility solutions, an increased emphasis on sustainability and eco-friendly alternatives, the integration of safety measures and advanced driver-assistance systems (ADAS), and the continued expansion of connected vehicle ecosystems.

A pivotal aspect of the market's evolution is the accelerated pace of technological advancements, a trend embraced by major industry players striving to bolster their market standing. Notably, industry leaders are directing their efforts towards developing cutting-edge products, exemplified by the collaboration between FCA, a prominent UK-based automaker, and technology innovators Engie EPS and Terna in Italy. This collaboration resulted in the initiation of a pioneering vehicle-to-grid (V2G) pilot project in Turin, Italy, in January 2021. This project aims to explore potential connections between the company's vehicles and the grid, showcasing the transformative capabilities of vehicle-to-grid technology. This innovative approach enables electric vehicle owners to harness their batteries for various purposes, such as allowing the electricity provider to regulate power usage or even powering their homes, marking a paradigm shift in the intersection of automotive and energy domains.

The transport vehicle components market report table of contents includes:
1. Executive Summary
2. Transport Vehicle Components Market Characteristics
3. Transport Vehicle Components Market Trends And Strategies
4. Transport Vehicle Components Market - Macro Economic Scenario
5. Global Transport Vehicle Components Market Size and Growth


......

31. Global Transport Vehicle Components Market Competitive Benchmarking
32. Global Transport Vehicle Components Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Transport Vehicle Components Market
34. Transport Vehicle Components Market Future Outlook and Potential Analysis
35. Appendix

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