The European Mechanical Parts Market, 2012 - 2022: Market size, market forecast and recommendations
LONDON, Jan. 22, 2018 /PRNewswire/ -- The European Mechanical Parts Market, 2012 - 2022: Market size, market forecast and recommendations
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Summary
European mechanical parts market grew, both in volume and value terms, with growth in values outstripping the growth seen in volumes. Total volumes grew over 13% across Europe between 2012 and 2017.
Values for the same group of components grew over 20%. The strong growth between 2012and 2017 is forecast to continue, with overall volumes forecasted to grow at about 9%, and values by around 17%.
Radiator market in Europe experienced solid growth in the years following the financial crisis, and has shown strong growth in recent years - growing at over 12% between 2012 and 2017. The strong growth is set to continue, albeit at a slightly lower rate, with growth of about 10% overall being forecast between 2018 and 2022.
Volumes in the European starter motor market grew at around 12% between 2012 and 2017 and are expected to grow by about 10% in the longer term to 2022. Values grew by over 20% and are expected to increase by around 17%.
Following the recession, people have maintained their cars, but chose to fit them with cheaper parts. These parts wear out quickly and need replacing more frequently, accounting for the expected uplift in volumes.
Shape of the market, with multiple brands at multiple price points, means that there is unlikely to be any major change in the long term market value. Between 2012 and 2017, the volume of clutches sold across Europe increased by over 14%.
Over the same period, the values increased by about 21%. Overall clutch volumes are expected to increase by around 9% and values by about 16% to 2022.
China, as ever, is becoming a big player in the non-OE component market; however, concerns remain over the quality of manufacturing and the parts’ longevity, with the majority of these non-OE parts needing to be replaced on a more frequent basis than the genuine OE parts. Overall volumes grew by around 12% between 2012 and 2017 and are expected to grow by 9.7% by 2022. Values grew by 20% between 2012 and 2017 and are forecast to grow by about 18% to 2022.
The report "The European Mechanical Parts Market, 2012 - 2022: Market size, market forecast and recommendations", provides an executive-level overview of the European vehicle mechanical parts market today, with forecasts of values and volumes up to 2022. It delivers deep quantitative and qualitative insight into the European mechanical parts market, analyzing key trends in the market based on proprietary data from our aftermarket databases.
Scope
- The radiator market in Europe experienced a minor growth in the years following the financial crisis, but it has showed some signs of recovery in recent years - growing 12.9% between 2012 and 2017, market volumes are set to remain generally stable throughout many European economies, with growth of 11% being forecast up to 2022.
- Even though the volume growth has been strong and that level of growth is predicted to be sustained, value has been growing at a much greater rate in a number of markets, as the majority of markets still remain dominated by premium brands. The European radiator market saw overall values grow by 20.8% between 2012 and 2017, and is expected to grow further, increasing by 18% by 2022. Â
- Meanwhile, with increasingly complex clutch technology in the aftermarket, replacement rates as well as volumes have slowly fallen as product longevity has grown. However, this increased longevity typically comes with a higher price tag, and consequently, value has grown and is forecast to continue increasing as clutch prices rise year-on-year.
- As a result, overall clutch volumes are forecast to increase by 9.2% by 2022, yet values are predicted to grow by 16.6% over the same period.
- Starter motor and alternator technologies are also driving value growth, reflecting the growing prevalence of complex start-stop technologies in the vehicle parc. In addition, certain manufacturers offer integrated starter-alternator generators, which command a higher price.
- As a result, the volumes and values of starter motors are forecast to increase by 10.1% and 17.1% by 2022, whilst the volumes and values of alternators are forecast to increase by 9.7% and 18.3%.
Reasons to buy
- This Trend Report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the European mechanical parts market based on insights from within GlobalData’s proprietary aftermarket database, consumer insight from our bespoke annual survey and interviews with industry experts.
- The report is designed for an executive-level audience, boasting presentation quality that allows it to be turned into presentable material immediately.
- The broad but detailed perspective will help manufacturers and retailers to understand and succeed in the challenging mechanical parts market.
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