Market Summary
Automotive OEM Market Overview
As per MRFR analysis, the Automotive OEM Market Size was estimated at 39.28 (USD Billion) in 2024. The Automotive OEM Market Industry is expected to grow from 40.98 (USD Billion) in 2025 to 59.96 (USD Billion) till 2034, at a CAGR (growth rate) is expected to be around 4.32% during the forecast period (2025 - 2034). As a result of technological advancements and alterations in product offerings, the automotive OEM market has considerable growth potential and is expected to expand over the forecast period. These are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Original Equipment Manufacturer Market Trends
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Rising demand for electric vehicles is driving the market growth
Market CAGR can be attributed to the rising demand for electric vehicles, environmental concerns, and major corporations' focus on carbon emission reduction are all factors propelling the global growth of the OEM Auto Parts Market. OEM is a term frequently used in the automotive and information technology industries. Initially, it was associated with a company that manufactured a product that another company subsequently resold or renamed. However, the meaning of this phrase has evolved, and it now has a different connotation. For instance, OEM can refer to a company that manufactures the components that another company employs to assemble an entire system. In other instances, the business rebrands and sells another company's products.
Automotive Original Equipment Manufacturer coatings are a vital component of the automotive manufacturing industry. It functions as a shield against a hostile environment. Coatings for automobiles are of the utmost quality and durability. Moreover, automotive coatings have superior mechanical properties that safeguard vehicles from chemical exposure and blemishes. Coatings for automobile interiors enhance the surface's aesthetic appeal and impart tangible qualities that emanate comfort and luxury. Numerous precautions are taken when applying these coatings to prevent corrosion, and they can also withstand UV radiation. The coating process includes the base coat, primer, and clearcoat phases, with the clearcoat providing a transparent and glossy finish. In the automotive industry, the coating is commonly used to improve the appearance and performance of vehicles.
As countries adopt stricter fuel efficiency requirements, there will be an increase in demand for lightweight, fuel-efficient OEM parts. The demand for lightweight, fuel-efficient components will drive the expansion of the industry. The market is anticipated to be driven throughout the forecast period by the government's diverse efforts to employ original products to reduce pollution and the rising disposable income in developing nations. In addition, the increasing demand for premium and hybrid vehicles in developing nations is anticipated to expand the market for original automotive equipment manufacturers.
In the coming years, the market for automotive original equipment manufacturers is anticipated to expand due to rapid technological advancements, increased demand for diesel engine vehicle filters, batteries, and innovation in automotive parts with the assistance of qualified and experienced technical staff. Service providers offer washing, lubrication, battery maintenance, and tire services. Periodic maintenance of motor vehicles is necessary. Due to the deployment of advanced connectivity features and the utilization of sensor data for maintenance, the market for automotive original equipment manufacturers will increase. Thus, driving the Original Equipment Manufacturer Market revenue.
Original Equipment Manufacturer Market Segment Insights
Automotive Original Equipment Manufacturer Component Insights
The Automotive OEM Market segmentation, based on component, includes powertrain, chassis, electronics and electrical, external body, and car interiors. The powertrain category dominated the market, accounting for 35% of market revenue (22.3 billion). The expansion of this market segment is due to the demand for electric vehicles. Environmental concerns and energy consumption are accelerating the adoption of powertrains. In the OEM Auto Market, the development of the powertrains segment is anticipated to be influenced by the increasing innovation of hybrid vehicles produced by renowned automakers.
Figure 1: Automotive OEM Market, by Component, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Automotive Original Equipment Manufacturer Vehicle Type Insights
The Automotive OEM Market segmentation, based on vehicle type, includes commercial vehicles, passenger cars, and electric cars. The segment of commercial vehicles is anticipated to maintain its dominance throughout the forecast period. Automotive original equipment manufacturers are concentrating on environmentally sustainable solutions and developing commercial vehicles with lower carbon emissions. In addition, an increase in e-commerce-related logistics and transportation is a key factor fueling the commercial vehicle segment.
Automotive Original Equipment Manufacturer Distribution Channel Insights
The Automotive OEM Market segmentation, based on distribution channel, includes retailers, wholesalers, and distributors. As of 2022, the number of wholesalers sales directly to consumers through the various service centers that purchase OEM in bulk quantities has increased.
Automotive Original Equipment Manufacturer Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The United States dominates the North American region. Due to technological advancements, this industry's market is expanding. The production of high-performance automobiles also contributes significantly to expanding this country's market. In addition, the development of automatic vehicles is boosting the regional oem auto industry.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: AUTOMOTIVE OEM MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Automotive OEM market accounts for the second-largest market share. The European market is expanding due to the region's consistent employment growth. Germany has become the dominant nation. These factors are inflating the population's GDP. Further, the German Automotive OEM oem auto parts market held the largest market share, and the UK Automotive OEM market was the fastest growing market in the European region
The Asia-Pacific Automotive OEM Market is expected to grow at the fastest CAGR from 2024 to 2032. Rising environmental consciousness and developing cleaner vehicles with sustainable fuels are anticipated to boost the Korean market for Automotive Original Equipment Manufacturer. Favorable government policies are anticipated to cultivate opportunities for market leaders further. Moreover, China’s Automotive OEM market held the largest market share, and the Indian Automotive OEM market was the fastest-growing market in the Asia-Pacific region.
It has been determined that insurance companies base their vehicle insurance premiums and policies on the security levels of newly manufactured vehicles. In Japan, a large consumer base prefers personal vehicles with high-tech solutions to obtain a lower premium rate. This factor is anticipated to stimulate the growth of the automotive OEM market in the country.
Automotive Original Equipment Manufacturer Key Market Players & Competitive Insights
Leading market players invest rapidly during the forecast period to stay ahead of the competition curve. Additionally, the market leaders are integrating a wider range of market developments such as new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. Additionally, our research indicates that the market leaders Automotive OEM industry are investing in offering solutions at a competitive price to gather consumers.
One of the major steps that the leaders in the global Automotive OEM industry are undertaking is operating their manufacturing plants at a local level. During the forecast period, the market leaders in the Automotive OEM industry are offering various products to their portfolio. Major players in the Automotive OEM market, including Toyota Motor Corporation, Volkswagen AG, Nissan, Honda Motor Co., Magna International Inc., and Continental AG, are investing in increasing their global presence.
Volkswagen AG, also known as the Volkswagen Group internationally, is a German multinational automaker headquartered in Wolfsburg, Lower Saxony, Germany. The company designs manufactures, and distributes passenger and commercial vehicles, electric motorcycle, engines, and turbomachinery and offers financing, leasing, and fleet management services. In 2016, it was the largest automaker in the globe in terms of sales, and it maintained this position in 2017, 2018, and 2019, selling 10.9 million vehicles.
Over the past two decades, it has maintained the largest market share in Europe. It ranked seventh on the 2020 Fortune Global 500 list of the world's largest corporations. The Volkswagen Group sells automobiles under the Audi, Bentley, Cupra, Jetta, Lamborghini, Porsche, SEAT, Skoda, and Volkswagen brands, as well as motorcycles under the Ducati brand, light commercial vehicles under the Volkswagen Commercial Vehicles brand, and heavy commercial vehicles via the brands of listed subsidiary Traton (Navistar, MAN, Scania, and Volkswagen Truck & Bus). It is divided into two major divisions: Automotive and Financial Services.
Nissan Motor Corporation, frequently abbreviated to Nissan,[a] is a Japanese multinational automotive manufacturer headquartered in Nishi-ku, Yokohama, Japan. The company distributes its automobiles under the Nissan, Infiniti, and formerly the Datsun brands, as well as Nismo-branded performance-tuning products (including automobiles). The company dates back to the early 20th century, when the Nissan Zaibatsu, now known as Nissan Group, was founded. Since 1999, Nissan has been a member of the Renault–Nissan–Mitsubishi Alliance (Mitsubishi Motors joined in 2016), a partnership between Japanese automakers Nissan and Mitsubishi Motors and French automaker Renault.
Renault held a 43.4% voting stake in Nissan until January 2023, while Nissan held a 15% non-voting stake in Renault. In a reorganization that occurred in January 2023, Renault's voting equities were reduced to 15%, bringing both manufacturers' voting stakes to parity. Since October 2016, Nissan has controlled Mitsubishi Motors with a 34% stake.
Key Companies in the Automotive OEM market include
- Toyota Motor Corporation
- Volkswagen AG
- Nissan
- Magna International Inc.
- Continental AG
- CIE automotive
- Siemens
- BMW AG
- Exide Industries Limited
- Denso Corp
- Robert Bosch, GMbH.
- Valeo
- Ford Motor Company
- Mitsubishi Motors Corp
Automotive OEM Industry Developments
Exide Industries Limited
March, 2025: Exide Industries was honored with a Silver Award in the "First Time" category at the 10th Asia Integrated Reporting Awards (AIRA) 2024, recognizing its commitment to sustainability and transparent ESG reporting.
February, 2025: The company was named "Top Digital Enterprise of India in Manufacturing," highlighting its advancements in digital transformation within the manufacturing sector.
January 2025: Exide Industries invested INR 1.5 billion (approximately $17.3 million) in its lithium battery subsidiary, Exide Energy Solutions Limited (EESL), as part of its ongoing commitment to the lithium-ion battery sector.
Denso Corporation
March, 2025: Denso became the first company headquartered in Japan to acquire the EcoPass certification from Catena-X, a European dataspace for secure data exchange across automotive supply chains.
January, 2025: Denso announced updates to its North American organizational structure and leadership responsibilities to advance greener and safer mobility solutions.
Robert Bosch GmbH
March, 2025: Bosch expressed continued confidence in the North American market, announcing expansion plans in the region despite global trade challenges.
January, 2025: The company projected a challenging financial year, anticipating sluggish global growth through 2025, and hinted at potential cost-cutting measures to maintain competitiveness.
Valeo
March, 2025: Valeo received the 2025 Innovation Award in the "Infrastructure and Vehicle Improvement" category from Sécurité Routière, the French national road safety authority, for its EvenLED technology used in vehicle signaling systems.
February, 2025: CEO Christophe Perillat stated that U.S. tariffs on steel and aluminum would minimally affect earnings, but the company plans to pass the full costs of tariffs on goods from Mexico, China, and Canada to its customers.
July 2024: To prepare for the Neue Klasse's 2027 series production start, more production capacity is being built in San Luis Potosí, Mexico. When finished, the new high-voltage battery assembly plant will have more than 80,000 square meters of production space. Construction on the facility began in May 2024.
However, there are more changes coming to Plant San Luis Potosí than just the integration of battery assembly. The bodyshop will expand by nearly 10,000 square meters, and vehicle assembly and logistics spaces will take up more than 90,000 square meters overall. The BMW Group is a leader in the industry and the first luxury OEM to produce high-voltage batteries and entirely electric vehicles in Mexico.
Automotive OEM Market Segmentation
Automotive OEM Component Outlook (USD Billion, 2018-2032)
- Powertrain
- Chassis
- Electronics and Electrical
- External Body
- Car Interiors
Automotive OEM Vehicle Type Outlook (USD Billion, 2018-2032)
- Commercial vehicles
- Passenger cars
- Electric cars
Automotive OEM Distribution Channel Outlook (USD Billion, 2018-2032)
- Retailers
- Wholesalers
- Distributors
Automotive OEM Regional Outlook (USD Billion, 2018-2032)
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
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Rest of the World
- Middle East
- Africa
- Latin America
Market Size & Forecast
| Report Attribute/Metric | Details |
|
Market Size 2024 |
39.28 (USD Billion) |
|
Market Size 2025 |
40.98 (USD Billion) |
|
Market Size 2034 |
59.96 (USD Billion) |
|
Compound Annual Growth Rate (CAGR) |
4.32% (2025 - 2034) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Base Year |
2024 |
|
Market Forecast Period |
2025 - 2034 |
|
Historical Data |
2019 - 2023 |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Vehicle Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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., and Mitsubishi Motors Corp. |
| Key Market Opportunities | Increasing Sales of Electric Vehicles |
| Key Market Dynamics | Rising Focus of Digital Experiences on Consumers |
Major Players
Automotive OEM Market Segmentation
Automotive OEM Component Outlook (USD Billion, 2018-2032)
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
Automotive OEM Vehicle Type Outlook (USD Billion, 2018-2032)
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Commercial vehicles
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Passenger cars
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Electric cars
Automotive OEM Distribution Channel Outlook (USD Billion, 2018-2032)
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Retailers
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Wholesalers
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Distributors
Automotive OEM Regional Outlook (USD Billion, 2018-2032)
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North America Outlook (USD Billion, 2018-2032)
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North America Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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North America Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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North America Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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US Outlook (USD Billion, 2018-2032)
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US Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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US Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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US Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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CANADA Outlook (USD Billion, 2018-2032)
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CANADA Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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CANADA Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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CANADA Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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Europe Outlook (USD Billion, 2018-2032)
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Europe Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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Europe Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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Europe Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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Germany Outlook (USD Billion, 2018-2032)
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Germany Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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Germany Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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Germany Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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France Outlook (USD Billion, 2018-2032)
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France Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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France Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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France Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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UK Outlook (USD Billion, 2018-2032)
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UK Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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UK Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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UK Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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ITALY Outlook (USD Billion, 2018-2032)
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ITALY Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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ITALY Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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ITALY Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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SPAIN Outlook (USD Billion, 2018-2032)
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Spain Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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Spain Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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Spain Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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Rest Of Europe Outlook (USD Billion, 2018-2032)
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Rest Of Europe Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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REST OF EUROPE Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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REST OF EUROPE Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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Asia-Pacific Outlook (USD Billion, 2018-2032)
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Asia-Pacific Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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-
Asia-Pacific Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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Asia-Pacific Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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China Outlook (USD Billion, 2018-2032)
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China Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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China Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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China Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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Japan Outlook (USD Billion, 2018-2032)
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Japan Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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Japan Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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Japan Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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India Outlook (USD Billion, 2018-2032)
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India Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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India Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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India Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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Australia Outlook (USD Billion, 2018-2032)
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Australia Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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Australia Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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Australia Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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Rest of Asia-Pacific Outlook (USD Billion, 2018-2032)
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Rest of Asia-Pacific Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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Rest of Asia-Pacific Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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Rest of Asia-Pacific Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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Rest of the World Outlook (USD Billion, 2018-2032)
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Rest of the World Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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Rest of the World Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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Rest of the World Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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Middle East Outlook (USD Billion, 2018-2032)
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Middle East Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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Middle East Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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Middle East Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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Africa Outlook (USD Billion, 2018-2032)
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Africa Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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Africa Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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Africa Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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Latin America Outlook (USD Billion, 2018-2032)
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Latin America Automotive OEM by Component
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Powertrain
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Chassis
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Electronics and Electrical
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External Body
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Car Interiors
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Latin America Automotive OEM by Vehicle Type
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Commercial vehicles
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Passenger cars
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Electric cars
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Latin America Automotive OEM by Distribution Channel
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Retailers
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Wholesalers
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Distributors
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