A report on auto parts and accessories has been released by Global Industry Analysts, Inc. entitled “Auto Parts and Accessories: A Global Strategic Business Report” providing comprehensive analyses of this mammoth market. The report highlights development, growth drivers, issues, business opportunities, and challenges. Also incorporated in the report are mergers & acquisitions, alliances, and other strategic industry activities.

World auto parts and accessories market is estimated to maintain a steady growth rate to acquire the magical figure of US$1 trillion by 2010. United States continues to be the largest market, accounting for about 30% of the world demand. Europe represents the second largest market, at US$180 billion in 2006. Asia-Pacific is the fastest moving market, projected to register a CAGR of about 9% over the next five years. Auto parts and accessories market is largely divided into original equipment (OE) and aftermarket. Those parts that are supplied to the vehicle manufacturers for line-fit are the original equipment parts whereas the aftermarket involves parts supplied to the replacement requirements and needs of customers. There are many existing leading markets for auto parts and accessories worldwide including Arvinmeritor, Inc., Dana Corp., Delphi Automotive Systems Corp., Denso Corporation, Johnson Controls Inc., Lear Corporation, Magna International Inc., Robert Bosch GmbH, TRW Automotive Holdings Corp., and Visteon Corporation.

The modern automobile has been broadly overwhelmed by highly developed electronics. Electronics find extensive utilization in many aspects like satellite navigation, engine management, suspension controls and other enhancements such as activation of windscreen wipers. The next step in this ongoing electronics boom is the interconnectivity of computers on the vehicle intranet with minimum wiring. Infotronics is representing a gain in rapid momentum, linking the Internet to the vehicle intranet and building the vehicle as an essential part of the external information system that includes global positioning system, mobile communication and navigation system. 42-volt vehicle systems are likely to usher in the modern drive-by-wire technologies, electromagnetic valve train and ride control systems. Incorporating the growing movement of additional electronic features into the automobiles signifies to improve the electronic parts and accessories market. Electronic parts and accessories market is poised to generate revenues of US$240 billion in 2010 making an increase at the industry’s fastest compounded annual rate.

Global Industry Analysts, Inc. is an evident publisher of the off-the-shelf market research which was founded in 1987. The company is globally recognized as one of the world’s largest market research publishers. The business employs more than 700 people all over the world and publishes more than 880 full-scale research reports every year. In addition, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.

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