Driving forward: Industry revenue continues to expand thanks to rising domestic car sales

The industry has grown over the past five years, supported by the rise in domestic car sales due to the wider availability of cheap car finance deals, which directly supported demand from manufacturers as consumers were able to buy more vehicles. This also boosted demand for essential parts from the aftermarket as car usage increased. Sales of parts to domestic producers that export to North America and several emerging markets have improved significantly over the past five years. Motor vehicle manufacturers responded by increasing production to meet demand. Although domestic car production is expected to fall in the current year, a resilient aftermarket and strong export demand supported industry revenue. Industry revenue is expected to grow at a compound annual rate of 2.5%...read more.

Industry Statistics & Market Size
Revenue
£13.5bn
Annual Growth 14-19
2.5%
Forecast Growth 19-24
Profit
Employment
61,272
Businesses
1,318

Industry Threats & Opportunities

  • The wider availability of cheap car finance deals has supported demand for the industry
  • Operators have increased research and development into components for electronic vehicles
  • Profit margins could be affected by new tariffs and trade barriers once Britain leaves the European Union
  • Industry Report - Industry Products Chapter

    Parts and accessories for bodiesThis segment includes flooring, sides, front or rear panels, doors, bonnets, luggage compartments, dashboards, bumpers and many other items. Windows, including windows with heating resistors, are also a major part of this segment. The segment also includes assembled motor vehicle chassis frames. The essential nature of these products has meant sales have remained relatively stable over the past five years. This should also insulate sales for some products in the final year of the period despite slowing demand from key markets. The segment is estimated to account for 34% of industry revenue in the current year...purchase to read more.

    Additional Insights for the Motor Vehicle Parts & Accessories Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Motor Vehicle Parts & Accessories Manufacturing Industry are

  • Economies of scale
  • Undertaking technical research and development
  • Establishment of export markets
  • IBISWorld analysts also discuss how external factors such as Demand from motor vehicle manufacturing and Demand from motor vehicle parts retailers in the Motor Vehicle Parts & Accessories Manufacturing industry impact industry performance..

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    What's in this report

    What is the Motor Vehicle Parts & Accessories Manufacturing Industry?

    Companies in this industry manufacture parts and accessories for use in motor vehicles. Parts include brakes, gearboxes, electrical and electronic components, clutches, seats and parts and accessories of motor vehicle bodies. The industry excludes the manufactures of motor vehicle engines, tyres and batteries. The industry also excludes the maintenance, repair and alteration of motor vehicles.

    Industry Products
  • Parts and accessories for bodies
  • Seats, seat belts and airbags
  • Gearboxes, axles and clutches
  • Brakes, road wheels and suspension systems
  • Radiators, silencers and exhaust pipes
  • Electrical and electronic equipment
  • Other parts and accessories
  • Industry Activities
  • Manufacturing electrical and electronic equipment
  • Manufacturing parts and accessories of motor vehicle bodies
  • Manufacturing other parts and accessories for motor vehicles
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from motor vehicle manufacturing
  • Demand from motor vehicle parts retailers
  • Average age of motor vehicles
  • Real effective exchange rate
  • Total number of registered motor vehicles

  • Current Performance
  • Shifting gears
  • Operational changes
  • Driven abroad
  • Chart: Revenue Growth

  • Industry Outlook
  • Gear change
  • Fuelling growth
  • Table: Motor Vehicle Parts & Accessories Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Motor Vehicle Parts & Accessories Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Motor Vehicle Manufacturing
  • Motor Vehicle Maintenance & Repair
  • Motor Vehicle Parts Wholesaling

  • Key Selling Industries
  • Aluminium Production
  • Basic Steel Processing
  • Other Electronic Wire & Cable Manufacturing

  • Products & Services
  • Parts and accessories for bodies
  • Seats, seat belts and airbags
  • Other parts and accessories
  • Gearboxes, axles and clutches
  • Brakes, road wheels and suspension systems
  • Electrical and electronic equipment
  • Radiators, silencers and exhaust pipes
  • Chart: Motor Vehicle Parts & Accessories Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Motor vehicle manufacturers
  • Aftermarket
  • Other automotive component manufacturers
  • Chart: Major Market Segmentation for the Motor Vehicle Parts & Accessories Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesDepreciation and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Motor Vehicle Parts & Accessories Manufacturing

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Motor Vehicle Parts & Accessories Manufacturing Industry

  • Industry Globalization
    Lear Corporation (UK) Ltd, Calsonic Kansei UK Ltd,
  • Table: Lear Corporation (UK) Ltd - financial performance
  • Table: Calsonic Kansei UK Ltd - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Motor Vehicle Parts & Accessories Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Motor Vehicle Parts & Accessories Manufacturing Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Advanced Manufacturing Supply Chain Initiative
  • A funding competition aimed at improving the global competitiveness of UK supply chain companies through financial funding.
  • Aftermarket
  • The market for replacement parts, accessories and equipment for automotive vehicles that have already been sold.
  • Electric Vehicle
  • A vehicle that runs on an electric battery and does not require petrol or diesel.
  • Tyre-Pressure Monitoring System (Tpms)
  • A system designed by Schrader Electronics that provides drivers with real-time information about the air pressure in their tyres.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Motor Vehicle Parts & Accessories Manufacturing market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Motor Vehicle Parts & Accessories Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Motor Vehicle Parts & Accessories Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Motor Vehicle Parts & Accessories Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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