What is Automotive Component Outsourcing?
Automobile Component Outsourcing is divided into two sectors, organised and unorganised. The organised sector includes original equipment manufacturers (OEMs) who produce high-value precision instruments. Unorganized sectors, on the other hand, consist of low-valued products that cater to after-market services. Engine parts, drive transmission and steering parts, body and chassis, suspension and braking parts, equipment, electrical parts, and others such as fan belts, die-casting, and sheet metal parts are all sub-sectors of the automobile component industry in India. Outsourcing manufacturing entails contracting certain production processes to a third party. An external company assumes complete responsibility for the creation, delivery, and certification of a component in this model. Finally, it is a company with a wealth of experience and a ready-made infrastructure, which translates into high-quality manufactured goods. This is the approach taken by many automotive companies. Outsourcing has a long history in this industry, and the first steps in this direction can be seen at the very beginning of the development of the automotive industry.
|Unit||Value (USD Million)|
|Key Companies Profiled||Meritor (United States), Amtek India (India), AGC Flat Glass (Japan), Benteler (Germany), Autoliv (Sweden), Bharat Forge (India), BorgWarner (United States), Continental (Germany), Cummins (United States) and Delphi (United Kingdom)|
The study covers a detailed analysis segmented by key business segments i.e. by type (Back-office information technology outsourcing and Business process outsourcing) , by application (Passenger Car and Commercial Vehicle) and major geographies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Automotive Component Outsourcing market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Automotive Component Outsourcing market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are Meritor (United States), Amtek India (India), AGC Flat Glass (Japan), Benteler (Germany), Autoliv (Sweden), Bharat Forge (India), BorgWarner (United States), Continental (Germany), Cummins (United States) and Delphi (United Kingdom).
On 26th May 2022, Meritor Inc.'s shareholders decided to approve the previously disclosed impending acquisition by Cummins Inc., the company reported. According to Chris Villavarayan, CEO and president of Meritor, the enthusiastic support from our shareholders for this deal reflects its compelling value and significant opportunity to influence the future of powertrain components and hasten the development of electrified power solutions for commercial vehicles. We are eager to complete the deal and obtain all the necessary regulatory clearances.
Governments can take a number of steps to create an environment that is favourable for SMEs in the automotive sector, including streamlining overly complicated regulations for SMEs, enhancing SMEs' access to capital through appropriate actions like loan guarantees and start-up grants, addressing SMEs' lack of scale and scope through clustering, networking, linking into technology platforms, value chain and local economic development, addressing issues with decent work, and more.
The Automotive Component Outsourcing market research report also includes detailed profiles of the market's leading competitors, as well as a comprehensive examination of the global competitive landscape. Meritor, Amtek India, AGC Flat Glass, Benteler, Autoliv, Bharat Forge, BorgWarner, Continental, Cummins, Delphi, Denso, Faurecia, Johnson Control, KIRCHHOFF Automotive, Lear Corp, Magna are the market's major players. This section depicts the competitive landscape in detail, including future capabilities, partnerships, financial summaries, significant mergers and acquisitions, alliances, new product development, new product launches, and other advancements.
Autonomous Vehicles and Automation and Electric Vehicle Innovation
- Poor-Quality Automotive Components Endanger Driver Safety
- Collateral Damage Is Caused By Low-Quality Automotive Components
- Some Components Are Not Regulated
Huge Domestic Market and Fast-Growing Infrastructure
Key highlights of the Global Automotive Component Outsourcing market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Automotive Component Outsourcing market in next few years.
Detailed Insights on futuristic trends and changing consumer behaviour
Forecast of the Global Automotive Component Outsourcing market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Automotive Component Outsourcing Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automotive Component Outsourcing market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Automotive Component Outsourcing market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Automotive Component Outsourcing Manufacturers, Automotive Component Outsourcing Suppliers & Distributors, Corporate Entities, Government Bodies, End-Users and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.