According to TechSci Research report, “Global Automotive OEM Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Automotive OEM Market stood at USD 36 billion in 2022 and is anticipated to grow with a CAGR of 6.58% in the forecast period, 2024-2028. Environmental concerns, the growing demand for electric vehicles, and the emphasis of big corporations on reducing carbon emissions are all driving forces behind the global expansion of the automotive OEM market.
The terms OEM and IT are commonly used in the automotive and IT sectors. It was first connected to a business that produced a product that was later rebranded or resold by another business. But this phrase’s meaning has changed with time, and it now has a different meaning.For example, OEM can relate to a business that produces the parts that another business uses to put together a complete system. In other cases, the corporation rebrands and markets the goods of another business.
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The Global Automotive Original Equipment Manufacturer (OEM) Market is a dynamic and multifaceted landscape shaped by a myriad of factors, ranging from technological innovations to regulatory frameworks, consumer preferences, and geopolitical dynamics. As the cornerstone of the automotive industry, OEMs play a pivotal role in designing, manufacturing, and delivering vehicles to the global market. This comprehensive overview delves into the key aspects that define the Global Automotive OEM Market, offering insights into its evolution, challenges, opportunities, and the driving forces steering its trajectory.The dynamics of the Global Automotive OEM Market are shaped by a complex interplay of internal and external factors. Technological advancements form a cornerstone, with OEMs at the forefront of innovation. The market is currently witnessing a paradigm shift towards electrification, with electric vehicles (EVs) gaining prominence. OEMs are investing heavily in research and development to refine battery technology, increase range, and enhance the overall efficiency of electric drivetrains. Connectivity is another pivotal aspect, with OEMs integrating advanced infotainment systems, telematics, and driver-assistance features into their vehicles. The race towards autonomous driving capabilities further intensifies competition, as OEMs collaborate with technology companies and engage in extensive testing and development to bring self-driving vehicles to the market.Supply chain dynamics play a crucial role, with OEMs managing complex networks of suppliers and partners. Geopolitical tensions, trade disputes, and global events, as exemplified by the COVID-19 pandemic, underscore the vulnerability of global supply chains. OEMs are challenged to ensure the resilience of their supply chains, exploring strategies such as regionalization and dual-sourcing to mitigate risks. Regulatory pressures emanating from emissions standards, safety regulations, and evolving industry norms contribute to the intricate tapestry of the market.OEMs must navigate a landscape of diverse regulations across regions, necessitating a flexible approach to compliance. The push for sustainability extends beyond vehicle emissions to encompass manufacturing practices, driving OEMs to adopt eco-friendly processes and materials. Consumer preferences, influenced by factors such as urbanization, environmental awareness, and shifting mobility trends, add another layer of complexity.OEMs are tasked with anticipating and responding to changing consumer expectations, offering vehicles that align with evolving lifestyle choices and preferences for sustainable and connected transportation solutions.The Global Automotive OEM Market is not without its challenges, and navigating these hurdles requires strategic foresight and adaptability. Technological disruptions present a dual challenge of opportunity and risk. While embracing electrification, connectivity, and autonomy opens new horizons, OEMs face the complexities of integrating these technologies into existing models, ensuring reliability, and managing the transition from traditional internal combustion engines. Supply chain disruptions, exemplified by the global events of recent years, underscore the vulnerability of complex, global supply networks. OEMs are challenged to implement resilience strategies, embracing digitalization and advanced analytics to enhance visibility into supply chains, identify potential risks, and ensure a steady flow of components.Regulatory compliance, especially in the context of diverse emissions standards and safety regulations, requires significant investments in research and development. Achieving compliance while maintaining cost-effectiveness and consumer affordability remains a delicate balancing act for OEMs. The push towards sustainability introduces additional challenges, with OEMs scrutinizing their supply chains for environmental and ethical standards. Shifting consumer preferences and mobility trends necessitate agility on the part of OEMs.The rise of shared mobility, electric scooters, and other alternative transportation solutions challenges the traditional model of vehicle ownership. OEMs must adapt their business models, explore partnerships, and embrace emerging mobility ecosystems to stay relevant in an evolving market.The competitive landscape, characterized by the entry of new players and the convergence of automotive and technology industries, adds complexity. Established OEMs must contend with the competitive threat posed by companies like Tesla and tech giants exploring opportunities in the automotive space. Collaboration and partnerships become crucial strategies for OEMs looking to leverage expertise, share development costs, and stay competitive.Amidst the challenges, the Global Automotive OEM Market presents a myriad of opportunities for OEMs willing to innovate and adapt. The shift towards electrification provides a substantial growth avenue. OEMs investing in electric vehicle technology, battery development, and charging infrastructure can position themselves as leaders in the emerging era of electric mobility.Technological advancements, especially in connectivity and autonomous driving, open new frontiers for OEMs to differentiate their products. The development of advanced driver-assistance systems, enhanced infotainment, and connectivity features can enhance the overall customer experience and create competitive advantages. Global expansion into emerging markets offers a strategic opportunity for OEMs to tap into growing consumer bases. Localization of production, partnerships with local entities, and an understanding of regional preferences can position OEMs for success in diverse markets.Sustainability initiatives present an opportunity for OEMs to align with environmental and social responsibility goals. Implementing eco-friendly manufacturing processes, incorporating recycled materials, and adopting sustainable sourcing practices contribute not only to compliance but also to brand reputation and consumer loyalty. Collaborations and partnerships, both within the automotive industry and across sectors, offer avenues for innovation and shared development costs. OEMs collaborating with technology companies, suppliers, and other industry players can leverage collective expertise to accelerate the introduction of new technologies and business models.Major companies operating in the Global Automotive OEM Market are:
- Toyota Motor CorporationVolkswagen AGHonda Motor Co.Magna International Inc.Continental AGCIE AutomotiveSiemensBMW AGDenso CorpRobert Bosch, GMbH
- Introduction 1.1. Product Overview1.2. Key Highlights of the Report1.3. Market Coverage1.4. Market Segments Covered1.5. Research Tenure Considered
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“The Global Automotive OEM Market is a dynamic ecosystem defined by technological innovation, shifting consumer preferences, and regulatory dynamics. Original Equipment Manufacturers (OEMs) are at the forefront of a transformative era, navigating challenges such as supply chain disruptions, diverse regulatory landscapes, and the imperative for sustainability. Opportunities abound in the shift towards electrification, connectivity, and autonomous driving, with OEMs positioning themselves for growth through strategic collaborations and global expansion. As the industry evolves, OEMs embracing innovation, adapting to changing mobility trends, and prioritizing sustainability are poised to shape the future of automotive manufacturing and redefine the driving experience for consumers worldwide.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.“Automotive OEM Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Vehicle Type (Commercial Vehicles, Passenger Cars, Electric Cars), By Component (Powertrain, Chassis, Electronics and Electrical, External Body, Car Interiors), By Sales Channel (Retailers, Wholesalers, Distributors), By Region, Competition, 2019-2029”, has evaluated the future growth potential of Global Automotive OEM Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Automotive OEM Market. You may also read:Automotive Ignition Coil AfterMarket [2029] – Analysis, Trends, & InsightsTruck and Bus Radial Tires Market | [2029] Exploring Market Growth, Potential, TrendsDrive By Wire Market [2029] – Report & ShareTable of Content-Automotive OEM Market- Research Methodology
2.1. Objective of the Study2.2. Baseline Methodology2.3. Key Industry Partners2.4. Major Association and Secondary Sources2.5. Forecasting Methodology2.6. Data Triangulation & Validation2.7. Assumptions and Limitations
- Executive Summary
3.1. Market Overview3.2. Market Forecast3.3. Key Regions3.4. Key Segments
- Impact of COVID-19 on Global Automotive OEM MarketGlobal Automotive OEM Market Outlook
5.1. Market Size & Forecast5.1.1. By Value5.2. Market Share & Forecast5.2.1. By Vehicle Type Market Share Analysis (Commercial Vehicles, Passenger Cars, And Electric Cars)5.2.2. By Component Market Share Analysis (Powertrain, Chassis, Electronics and Electrical, External Body, and Car Interiors5.2.3. By Sales Channel Market Share Analysis (OEM, Aftermarket)5.2.4. By Regional Market Share Analysis5.2.4.1. Asia-Pacific Market Share Analysis5.2.4.2. Europe & CIS Market Share Analysis5.2.4.3. North America Market Share Analysis5.2.4.4. South America Market Share Analysis5.2.4.5. Middle East & Africa Market Share Analysis5.2.5. By Company Market Share Analysis (Top 5 Companies, Others – By Value, 2023)5.3. Global Automotive OEM Market Mapping & Opportunity Assessment5.3.1. By Vehicle Type Market Mapping & Opportunity Assessment5.3.2. By Component Market Mapping & Opportunity Assessment5.3.3. By Sales Channel Market Mapping & Opportunity Assessment5.3.4. By Regional Market Mapping & Opportunity Assessment
- Asia-Pacific Automotive OEM Market Outlook
6.1. Market Size & Forecast6.1.1. By Value 6.2. Market Share & Forecast6.2.1. By Vehicle Type Market Share Analysis6.2.2. By Component Market Share Analysis6.2.3. By Sales Channel Market Share Analysis6.2.4. By Country Market Share Analysis6.2.4.1. China Market Share Analysis6.2.4.2. India Market Share Analysis6.2.4.3. Japan Market Share Analysis6.2.4.4. Indonesia Market Share Analysis6.2.4.5. Thailand Market Share Analysis6.2.4.6. South Korea Market Share Analysis6.2.4.7. Australia Market Share Analysis6.2.4.8. Rest of Asia-Pacific Market Share Analysis6.3. Asia-Pacific: Country Analysis6.3.1. China Automotive OEM Market Outlook6.3.1.1. Market Size & Forecast6.3.1.1.1. By Value 6.3.1.2. Market Share & Forecast6.3.1.2.1. By Vehicle Type Market Share Analysis6.3.1.2.2. By Component Market Share Analysis6.3.1.2.3. By Sales Channel Market Share Analysis6.3.2. India Automotive OEM Market Outlook6.3.2.1. Market Size & Forecast6.3.2.1.1. By Value 6.3.2.2. Market Share & Forecast6.3.2.2.1. By Vehicle Type Market Share Analysis6.3.2.2.2. By Component Market Share Analysis6.3.2.2.3. By Sales Channel Market Share Analysis6.3.3. Japan Automotive OEM Market Outlook6.3.3.1. Market Size & Forecast6.3.3.1.1. By Value 6.3.3.2. Market Share & Forecast6.3.3.2.1. By Vehicle Type Market Share Analysis6.3.3.2.2. By Component Market Share Analysis6.3.3.2.3. By Sales Channel Market Share Analysis6.3.4. Indonesia Automotive OEM Market Outlook6.3.4.1. Market Size & Forecast6.3.4.1.1. By Value 6.3.4.2. Market Share & Forecast6.3.4.2.1. By Vehicle Type Market Share Analysis6.3.4.2.2. By Component Market Share Analysis6.3.4.2.3. By Sales Channel Market Share Analysis6.3.5. Thailand Automotive OEM Market Outlook6.3.5.1. Market Size & Forecast6.3.5.1.1. By Value 6.3.5.2. Market Share & Forecast6.3.5.2.1. By Vehicle Type Market Share Analysis6.3.5.2.2. By Component Market Share Analysis6.3.5.2.3. By Sales Channel Market Share Analysis6.3.6. South Korea Automotive OEM Market Outlook6.3.6.1. Market Size & Forecast6.3.6.1.1. By Value 6.3.6.2. Market Share & Forecast6.3.6.2.1. By Vehicle Type Market Share Analysis6.3.6.2.2. By Component Market Share Analysis6.3.6.2.3. By Sales Channel Market Share Analysis6.3.7. Australia Automotive OEM Market Outlook6.3.7.1. Market Size & Forecast6.3.7.1.1. By Value 6.3.7.2. Market Share & Forecast6.3.7.2.1. By Vehicle Type Market Share Analysis6.3.7.2.2. By Component Market Share Analysis6.3.7.2.3. By Sales Channel Market Share Analysis