Latin America Automotive Components Market (2023-2029) | Trends, Value, Revenue, Outlook, Analysis, Growth, Industry, Forecast, Size, Share, Segmentation & COVID-19 IMPACT

Latin America Automotive Components Market Synopsis

The Latin America Automotive Components Market is projected to grow significantly over the forecast period. Rising production of vehicles and their sales in the continent are the two major reasons driving the market.

According to 6Wresearch, the Latin America Automotive Components Market size is projected to grow at a higher growth rate during the 2023-2029. The Automotive Components Market in Latin America is ready to boom in the years to come owing to the technological advancements in the automotive industry. The sector is primarily driven by the rising vehicle production and sales in the continent. Passenger cars is the biggest segment of the automotive component industry in Latin America, followed by commercial vehicles as well as two-wheelers. The growing disposable incomes and rise in population are some other major factors driving the demand for vehicles in the region. In addition, government initiatives like tax exemptions as well as subsidies are also stimulating the sales of vehicles in the continent.

Mexico is the most significant market for automotive components in the region, followed by Brazil as well as Argentina. Mexico has a well-established automotive component sector with a huge number of suppliers catering to the requirements of domestic and global OEMs operating in the nation. Brazil is also one of the significant hubs for automotive component manufacturing, owing to its powerful presence of global OEMs. Argentina is also an essential market for automotive components, owing to its rising vehicle production and sales. There are a number of large companies operate effectively in this market and they know how to align with the needs of their consumers. Lack of skilled labor and high prices of production are the two main challenges facing the market. The Latin America Automotive Components Market share is growing with each passing day; thus, the market is anticipated to come out of the challenges it has been facing.

COVID-19 Impact on Latin America Automotive Components Industry

The impact of novel COVID-19 pandemic was adverse on the growth of the Latin America Automotive Components Market as companies operating in this sector had to shut down their businesses for a short span of time in order to meet the guidelines by the government in order to limit the spread of the deadly virus. The government across the region imposed lockdown in order to protect their countries from the virus, which in turn, hampered the growth of the automotive components market in the region. This sector was one of the most affected one but it has now recovered from the impacts of the pandemic.

Market Analysis by Countries

Based on countries, the market for automotive components in Latin America is divided into Brazil, Mexico, Argentina, and Rest Of Latin America. Mexico is the most significant market for automotive components in the region, followed by Brazil as well as Argentina. Mexico has a well-established automotive component sector with a huge number of suppliers catering to the requirements of domestic and global OEMs operating in the nation. The country will lead the market.

Market Analysis by Vehicle Type

Based on vehicle type, the sector in Latin America is divided into Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two-Wheeler, Three-Wheeler, and OTR. All these segments are rising in demand in the sector.

Market Analysis by Component

Based on component, the market is divided into Engine Parts, Body & Chassis, Suspension & Brakes, Drive Transmission & Steering Parts, Electrical Parts, and Equipment. In the market, the demand for all these components is rising.

Market Analysis by Demand Category

Based on demand category, the sector in the region is divided into OEM, and Replacement. In the sector, the demand for both these segments is growing.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Latin America Automotive Components Market Outlook
• Market Size of Latin America Automotive Components Market, 2022
• Forecast of Latin America Automotive Components Market, 2029
• Historical Data and Forecast of Latin America Automotive Components Revenues & Volume for the Period 2019 - 2029
• Latin America Automotive Components Market Trend Evolution
• Latin America Automotive Components Market Drivers and Challenges
• Latin America Automotive Components Price Trends
• Latin America Automotive Components Porter's Five Forces
• Latin America Automotive Components Industry Life Cycle
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Vehicle Type for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Passenger Car for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Light Commercial Vehicle for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Medium & Heavy Commercial Vehicle for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Two-Wheeler for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Three-Wheeler for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By OTR for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Vehicle Type for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Passenger Car for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Light Commercial Vehicle for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Medium & Heavy Commercial Vehicle for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Two-Wheeler for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Three-Wheeler for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By OTR for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Vehicle Type for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Passenger Car for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Light Commercial Vehicle for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Medium & Heavy Commercial Vehicle for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Two-Wheeler for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Three-Wheeler for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By OTR for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Vehicle Type for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Passenger Car for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Light Commercial Vehicle for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Medium & Heavy Commercial Vehicle for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Two-Wheeler for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Three-Wheeler for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By OTR for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Vehicle Type for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Passenger Car for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Light Commercial Vehicle for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Medium & Heavy Commercial Vehicle for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Two-Wheeler for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Three-Wheeler for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By OTR for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Component for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Engine Parts for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Body & Chassis for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Suspension & Brakes for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Drive Transmission & Steering Parts for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Electrical Parts for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Equipments for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Component for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Engine Parts for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Body & Chassis for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Suspension & Brakes for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Drive Transmission & Steering Parts for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Electrical Parts for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Equipments for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Component for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Engine Parts for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Body & Chassis for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Suspension & Brakes for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Drive Transmission & Steering Parts for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Electrical Parts for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Equipments for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Component for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Engine Parts for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Body & Chassis for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Suspension & Brakes for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Drive Transmission & Steering Parts for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Electrical Parts for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Equipments for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Component for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Engine Parts for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Body & Chassis for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Suspension & Brakes for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Drive Transmission & Steering Parts for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Electrical Parts for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Equipments for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Demand Category for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By OEM for the Period 2019 - 2029
• Historical Data and Forecast of Latin America Automotive Components Market Revenues & Volume By Replacement for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Demand Category for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By OEM for the Period 2019 - 2029
• Historical Data and Forecast of Brazil Automotive Components Market Revenues & Volume By Replacement for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Demand Category for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By OEM for the Period 2019 - 2029
• Historical Data and Forecast of Mexico Automotive Components Market Revenues & Volume By Replacement for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Demand Category for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By OEM for the Period 2019 - 2029
• Historical Data and Forecast of Argentina Automotive Components Market Revenues & Volume By Replacement for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Demand Category for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By OEM for the Period 2019 - 2029
• Historical Data and Forecast of Rest of Latin America Automotive Components Market Revenues & Volume By Replacement for the Period 2019 - 2029
• Latin America Automotive Components Market - Key Performance Indicators
• Latin America Automotive Components Market - Import Export Trade Statistics
• Latin America Automotive Components Market - Opportunity Assessment By Countries
• Latin America Automotive Components Market - Opportunity Assessment By Vehicle Type
• Latin America Automotive Components Market - Opportunity Assessment By Component
• Latin America Automotive Components Market - Opportunity Assessment By Demand Category
• Latin America Automotive Components Market - Top Companies Market Share
• Latin America Automotive Components Market - Top Companies Profiles
• Latin America Automotive Components Market - Comparison of Players in Technical and Operating Parameters
• Latin America Automotive Components Market - Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Countries

• Brazil
• Mexico
• Argentina
• Rest Of Latin America

By Vehicle Type

• Passenger Car
• Light Commercial Vehicle
• Medium & Heavy Commercial Vehicle
• Two-Wheeler
• Three-Wheeler
• OTR

By Component

• Engine Parts
• Body & Chassis
• Suspension & Brakes
• Drive Transmission & Steering Parts
• Electrical Parts
• Equipment

By Demand Category

• OEM
• Replacement

Latin America Automotive Components Market: FAQs