Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 1.9 % over the past five years, to reach an estimated $68.8bn in 2024.
Trends and Insights
Climbing interest rates threaten auto parts manufacturers
- The US Federal Reserve has raised interest rates significantly through 2022 and 2023 to combat stifling inflation across the US economy. Borrowing costs have skyrocketed, decimating consumer confidence, especially among lower-income consumers.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Downstream innovation will provide new opportunities for auto parts manufacturers
- Automakers have added many advanced features to vehicles, including filtration systems to limit pathogens and allergens and new airbags that cushion the head better on impact. Numerous recalls for airbags over the past decade have spurred the latter’s innovations. Companies heavily invest in airbag development since recalls can decimate reputations and lead to major business loss.
Biggest companies in the Auto Parts Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Robert Bosch GmbH | 3,022.7 | 150.4 | 5.0 | |
Denso Corp. | 2,914.3 | 155.2 | 5.3 | |
Borgwarner Inc. | 2,532.7 | 235.6 | 9.3 |
To view the market share and analysis for all 5 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including HVAC systems, Filters for combustion engines and Exhaust systems. HVAC systems is the largest segment of the Auto Parts Manufacturing in the US.
Trends and Insights
Electric vehicle production threatens exhaust systems
- Auto parts manufacturers sell exhaust systems to automakers and aftermarket buyers. Buyers use exhaust systems to vent toxic byproducts from engine combustion to keep passengers safe. Auto parts manufacturers have produced more advanced exhaust systems to meet increasingly strict emissions standards.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Companies in this industry manufacture and rebuild various motor vehicle parts and accessories. These parts include airbags, air conditioners, catalytic converters, exhaust systems, mufflers and resonators, radiators, radiator cores and wheels. Engines, tires, brakes, steering systems, interiors, suspensions, transmissions and automotive electronics are not included in the industry.
What's included in this industry?
Exhaust systemsFilters for combustion enginesAirbag systemsHVAC systemsPunches and die partsMotor vehicle convertible topsCompanies
Robert Bosch GmbHDenso Corp.Borgwarner Inc.Purchase this report to view all 5 major companies in this industry.
Related Terms
SCRAPPAGE RATESORIGINAL EQUIPMENT MANUFACTURER (OEM)BIG THREEIndustry Code
NAICS 33639 - Auto Parts Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Auto parts manufacturers have struggled as interest rates rise, somewhat diminishing growth in the auto sector. Strong economic conditions and favorable interest and exchange...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Exhaust systems are a key aspect of most vehicles. Increasing electric vehicle production will threaten key segments, like exhaust and filtration, though companies will trans...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Great Lakes region is home to major automakers. Auto parts manufacturers make most of their revenue from contracts with large automobile manufacturers. Companies in this ...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Auto parts manufacturers tend to specialize to improve market penetration and reputation. This trend causes fragmentation, leading to low market share concentration.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The market is highly fragmented. Leading manufacturers have historically struggled to accrue more than a tenth of the addressable market.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Robert Bosch GmbH's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Denso Corp.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Borgwarner Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 2 additional companies
Detailed analysis
- Description and key data for Robert Bosch GmbH, and factors influencing its performance in the industry
- Description and key data for Denso Corp., and factors influencing its performance in the industry
- Description and key data for Borgwarner Inc., and factors influencing its performance in the industry
- Description, key data and performance trends for 2 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Manufacturers must adhere to environmental standards to limit emissions. Many companies have prioritized innovation to meet demand for zero-emission vehicles and stricter saf...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Companies struggled to generate strong returns through the current period. High interest rates, supply chain disruptions and uneven consumer confidence posed major threats to...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Auto Parts Manufacturing in the US industry in United States in 2024?
The market size of the Auto Parts Manufacturing in the US industry in United States is $68.8bn in 2024.
How many businesses are there in the Auto Parts Manufacturing in the US industry in 2024?
There are 1,108 businesses in the Auto Parts Manufacturing in the US industry in United States, which has grown at a CAGR of 0.0 % between 2019 and 2024.
Has the Auto Parts Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Auto Parts Manufacturing in the US industry in United States has been declining at a CAGR of 1.9 % between 2019 and 2024.
What is the forecast growth of the Auto Parts Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Auto Parts Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Auto Parts Manufacturing in the US market in United States?
The biggest companies operating in the Auto Parts Manufacturing market in United States are Robert Bosch GmbH, Denso Corp. and Borgwarner Inc.
What does the Auto Parts Manufacturing in the US in United States include?
Exhaust systems and Filters for combustion engines are part of the Auto Parts Manufacturing in the US industry.
Which companies have the highest market share in the Auto Parts Manufacturing in the US in United States?
The company holding the most market share in United States is Robert Bosch GmbH.
How competitive is the Auto Parts Manufacturing in the US industry in United States?
The level of competition is high and steady in the Auto Parts Manufacturing in the US industry in United States.
Related Industries
Widen your competitive advantage with related industries
Competitors
Complementors
- Heating & Air Conditioning Equipment Manufacturing in the US
- Automobile Electronics Manufacturing in the US
- Automobile Steering & Suspension Manufacturing in the US
- Automobile Brakes Manufacturing in the US
- Automobile Transmission Manufacturing in the US
- Automobile Interior Manufacturing in the US
- Automobile Engine & Parts Manufacturing in the US
- Automobile Metal Stamping in the US
View all industries in United States
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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