Market Overview:
The global automotive component outsourcing market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for passenger cars and commercial vehicles, and the growing trend of outsourcing automotive components by Original Equipment Manufacturers (OEMs). The global automotive component outsourcing market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into back-office information technology outsourcing (BPO), business process outsourcing (BPO), engineering design services, and others. The BPO segment is expected to grow at a higher CAGR during the forecast period owing to its ability to provide cost-effective solutions with high quality standards. On the basis of application,the market is divided into passenger car and commercial vehicle segments. The passenger car segment dominates this market due in part to rising disposable income levels in developing countries such as China and India coupled with an increase in sales of luxury cars across these regions.
Product Definition:
Outsourcing of automotive components is the process of procuring parts and components from suppliers outside the company. This can be done for a variety of reasons, including cost savings, improved quality, or to gain access to specialized expertise. Outsourcing can be a very effective way to manage costs and improve efficiency in the automotive manufacturing process.
Back-office information technology outsourcing:
Back-office information technology outsourcing (BPO) is a practice of providing business support functions that are typically associated with accounting, human resource management, and other administrative services. The automotive component outsourcing market has witnessed significant growth over the past few years owing to the globalization of production and demand centers. This trend is expected to continue over the forecast period due to changing customer preferences coupled with supplier power dynamics.
Business process outsourcing:
Business process outsourcing (BPO) is a form of professional services contract between an organization and a third party vendor. The primary function performed by BPO vendors is to leverage their resources, which include domain expertise, technology platforms, processes and systems along with the ability to bring people together to achieve common goals. Outsourcing business processes can be done in two ways; on-demand basis or fixed term basis.
Application Insights:
The passenger car segment accounted for the largest revenue share of over 60% in 2017. The growing demand for passenger cars due to rising disposable income levels, coupled with rapid urbanization has resulted in a significant growth of the automotive component outsourcing market. This trend is expected to continue over the forecast period as countries such as India and China are major producers of automobiles and their demand is anticipated to grow significantly over the next six years.
Commercial vehicle segment is projected to witness substantial growth at a CAGR of XX% from 2018 to 2030 owing to increasing utilization of commercial vehicles across various industries including mining, construction, etc., which require heavy-duty components manufactured using advanced technologies and high-quality raw materials. Furthermore, governments around the world are promoting investments in commercial vehicles on account of their higher fuel efficiency resulting in lower carbon emissions compared with other modes such as trucks or trains that transport goods long distances between origin and destination cities or airports respectively thus contributing towards industry growth during this period.
Regional Analysis:
Asia Pacific region accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to rising investments in IT infrastructure, increasing demand for smartphones and tablets, growing adoption of cloud computing technologies, and rapid development of e-commerce sector. In addition, increasing automotive production coupled with rising sales across emerging economies such as India & China is anticipated to drive regional market growth.
The Asia Pacific region has witnessed a significant increase in component manufacturing owing to low labor costs along with easy access to land & raw materials. Furthermore, governments across various countries are encouraging domestic manufacturers by offering subsidies on components imported from overseas thereby driving industry expansion over the forecast period.
Growth Factors:
- Increasing demand for automobiles: The global automotive market is expected to grow at a CAGR of 4.5% from 2016 to 2020, reaching a value of US trillion by 2020. This growth is primarily attributed to the increasing demand for automobiles in developing countries, such as China and India.
- Stringent emission norms: Stringent emission norms are being implemented across different countries in order to reduce environmental pollution levels. This is resulting in the increased adoption of fuel-efficient and low-emission vehicles, which is driving the demand for automotive components outsourcing market globally.
- Technological advancements: The automotive component outsourcing market is witnessing rapid technological advancements, with OEMs increasingly adopting advanced technologies such as lightweight materials and electric vehicles (EVs). This is resulting in an increase in the complexity of automotive components, which are driving the need for component outsourcing services among OEMs worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Component Outsourcing Market Research Report
By Type
Back-office information technology outsourcing, Business process outsourcing
By Application
Passenger Car, Commercial Vehicle
By Companies
Meritor, Amtek India, AGC Flat Glass, Benteler, Autoliv, Bharat Forge, BorgWarner, Continental, Cummins, Delphi, Denso, Faurecia, Johnson Control, KIRCHHOFF Automotive, Lear Corporation, Magna
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Automotive Component Outsourcing Market Report Segments:
The global Automotive Component Outsourcing market is segmented on the basis of:
Types
Back-office information technology outsourcing, Business process outsourcing
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Car, Commercial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Meritor
- Amtek India
- AGC Flat Glass
- Benteler
- Autoliv
- Bharat Forge
- BorgWarner
- Continental
- Cummins
- Delphi
- Denso
- Faurecia
- Johnson Control
- KIRCHHOFF Automotive
- Lear Corporation
- Magna
Highlights of The Automotive Component Outsourcing Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Back-office information technology outsourcing
- Business process outsourcing
- By Application:
- Passenger Car
- Commercial Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Automotive Component Outsourcing Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Automotive component outsourcing is the process of contracting with a third-party supplier to provide automotive components and subassemblies. This can include items such as engine parts, transmissions, brakes, and steering systems. Outsourcing allows automakers to reduce costs while still meeting customer demands for high quality products.
Some of the key players operating in the automotive component outsourcing market are Meritor, Amtek India, AGC Flat Glass, Benteler, Autoliv, Bharat Forge, BorgWarner, Continental, Cummins, Delphi, Denso, Faurecia, Johnson Control, KIRCHHOFF Automotive, Lear Corporation, Magna.
The automotive component outsourcing market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automotive Component Outsourcing Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Automotive Component Outsourcing Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Automotive Component Outsourcing Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Automotive Component Outsourcing Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Automotive Component Outsourcing Market Size & Forecast, 2020-2028
4.5.1 Automotive Component Outsourcing Market Size and Y-o-Y Growth
4.5.2 Automotive Component Outsourcing Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Back-office information technology outsourcing
5.2.2 Business process outsourcing
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Passenger Car
6.2.2 Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Automotive Component Outsourcing Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Automotive Component Outsourcing Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Back-office information technology outsourcing
9.6.2 Business process outsourcing
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Passenger Car
9.10.2 Commercial Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Back-office information technology outsourcing
10.6.2 Business process outsourcing
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Passenger Car
10.10.2 Commercial Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Back-office information technology outsourcing
11.6.2 Business process outsourcing
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Passenger Car
11.10.2 Commercial Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Back-office information technology outsourcing
12.6.2 Business process outsourcing
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Passenger Car
12.10.2 Commercial Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Back-office information technology outsourcing
13.6.2 Business process outsourcing
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Passenger Car
13.10.2 Commercial Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Automotive Component Outsourcing Market: Competitive Dashboard
14.2 Global Automotive Component Outsourcing Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Meritor
14.3.2 Amtek India
14.3.3 AGC Flat Glass
14.3.4 Benteler
14.3.5 Autoliv
14.3.6 Bharat Forge
14.3.7 BorgWarner
14.3.8 Continental
14.3.9 Cummins
14.3.10 Delphi
14.3.11 Denso
14.3.12 Faurecia
14.3.13 Johnson Control
14.3.14 KIRCHHOFF Automotive
14.3.15 Lear Corporation
14.3.16 Magna
