New York, United States – Global Mechanical Performance Tuning Components Market Size study, by Product Type (Engine, Transmission, Fuel System, Brake, Body & Suspension, Exhaust Mufflers) by Vehicles (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles) by Distribution Channel (Authorised Service Stations, Independent Service Stations) and Regional Forecasts 2022-2030
Global Mechanical Performance Tuning Components Market is valued approximately USD $$ billion in 2021 and is anticipated to grow with a healthy growth rate of more than % over the forecast period 2022-2030.
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Mechanical Performance Tuning Components refers to components which are installed or replaced with original factory fitted components to enhance performance of vehicles. Largely mechanical performance tuning components includes Brake caliper, brake oil, engine oil, and oil filters etc. The market is mainly driven by growing automotive industry and rapid technological advancements in the automobile industry . For instance, according to International Energy Agency (IEA)- electric car sales worldwide reached to over 3 million in the year 2020. This is an increase of over 40% in global sales from the 2.1 million electric cars sold in 2019. Also, as per India Brand Equity Forum (IBEF)- in the financial year 2019-20, total passenger vehicle sales in India reached to 2.8 million Units, and as of February 2021 around 2.3 million units were sold.
Also, with the surging e-commerce sector in emerging economies and rising disposable income, the adoption & demand for Mechanical Performance Tuning Components is likely to increase the market growth during the forecast period. However, high pricing of Mechanical Performance Tuning Components and Supply chain disruption owing to covid 19 pandemic impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the Global Mechanical Performance Tuning Components Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe is the leading region across the world in terms of market share owing to increasing vehicle fleet and presence of leading vehicle manufacturers in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2022-2028. Factors such as growing automobile production and increasing penetration of leading automobile manufacturers in the region would create lucrative growth prospects for the Mechanical Performance Tuning Components market across Asia-Pacific region.
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Major market player included in this report are: Continental AG, ZF Friedrichshafen AG, Valeo , Hitachi, Ltd, Robert Bosch GmbH, Honeywell International Inc, BorgWarner Inc, MITSUBISHI HEAVY INDUSTRIES, LTD DENSO CORPORATION CHINA AUTOMOTIVE SYSTEMS
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type: Engine, Transmission, Fuel System, Brake, Body & Suspension, Exhaust Mufflers
By Vehicle: Passenger Vehicles Light Commercial Vehicles Heavy Commercial Vehicles
By Distribution Channel: Authorised Service Stations Independent Service Stations
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By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE
Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019, 2020 Base year – 2021 Forecast period – 2022 to 2028
Target Audience of the Global Mechanical Performance Tuning Components Market in Market Study:
Key Consulting Companies & Advisors Large, medium-sized, and small enterprises Venture capitalists Value-Added Resellers (VARs) Third-party knowledge providers Investment bankers Investors
Continental AG, ZF Friedrichshafen AG, Valeo , Hitachi, Ltd, Robert Bosch GmbH, Honeywell International Inc, BorgWarner Inc, MITSUBISHI HEAVY INDUSTRIES, LTD DENSO CORPORATION CHINA AUTOMOTIVE SYSTEMS
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What aspects regarding the regional analysis Market are included in this report?
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