Market Share of Asia-Pacific Automotive Parts and Components Industry
The automotive industry in the Asia-Pacific region is a highly fragmented and competitive market due to the presence of several manufacturers in the market. Growing regional demand has encouraged several foreign automotive OEMs and component manufacturers to establish their presence in the region.
Along with major automakers, the tier-1 and tier-2 component manufacturers, including Bosch GmbH, Continental, ThyssenKrupp, ZF TRW, Magneti Marelli, and Delphi, have also started their operations in the region. Along with major players, several local players are also adopting mergers, acquisitions, and joint ventures to enhance their market share. For instance,
In January 2020, component maker Tata Autocomp Systems entered a joint venture with Chinese supplier Prestolite Electric Beijing to design, engineer, manufacture, and supply powertrain solutions for the Indian electric vehicle market.
In May 2020, Maruti Suzuki India Ltd announced the acquisition of Japan's Sumitomo Corporation's stake in their joint venture JJ Impex (Delhi) Pvt. Ltd, a company engaged in automobile service and repair to expand its portfolio.
APAC Automotive Parts & Components Market Leaders
HELLA GmbH & Co. KGaA
ZF Friedrichshafen AG
Robert Bosch GmbH
Magneti Marelli S.p.A
*Disclaimer: Major Players sorted in no particular order