The South Korea auto parts manufacturing market reached approximately USD 124.48 Billion in 2025. The market is projected to grow at a CAGR of 3.30% between 2026 and 2035, reaching a value of around USD 172.23 Billion by 2035.
Base Year
Historical Period
Forecast Period
As per the industry report, the overall automotive sales in South Korea grew by 5 per cent in 2023.
Hyundai Mobis, a South Korean auto parts provider, announced that it has produced an in-vehicle lighting system which can be aligned with the driver’s mood and can autonomously adjust the colour and intensity of lights.
The city of Ulsan is responsible for 23 per cent of the car production in South Korea.
Compound Annual Growth Rate
3.3%
Value in USD Billion
2026-2035
*this image is indicative*
The growth of the automotive sector, the presence of a broad range of vehicles, and the rising export opportunities are some of the major factors fuelling the market growth. The country’s automotive sector consists of global brand names such as Hyundai and Kia which are also involved in the production of auto parts for various types of vehicles such as sedans, SUVs, and electric vehicles, among others. Meanwhile, several multinational vehicle manufacturers are relying on South Korean auto suppliers for the purchase of their auto parts. In April 2024, BMW announced that it purchased automotive parts worth USD 4.6 billion from South Korean manufacturers.
Favourable government incentives to boost the sales of electric vehicles are also propelling the auto parts manufacturing market expansion. For instance, in September 2023, the South Korean government announced that it aims to offer temporary subsidies to customers purchasing EVs , which aids the demand for EV components such as batteries, electric motors, power electronics, and charging systems, among others.
“South Korea Auto Parts Manufacturing Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
Market Breakup by Vehicle Type
Passenger Cars Light Commercial Vehicles Heavy Commercial Vehicles
The OEM sector accounts for a major market share as the customers are more willing to purchase the auto parts from the original manufacturers as they align with the specifications of that particular vehicle. Some automotive manufacturers may also offer warranties which can enhance their appeal among customers. On the other hand, the aftermarket sector is anticipated to grow at a steady rate as it offers buyers several options on auto parts as well as economical pricing compared to OEMs.
The market players are offering innovative products to gain a competitive edge in the market.
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In 2025, the market reached an approximate value of USD 124.48 Billion.
The market is estimated to grow at a CAGR of 3.30% between 2026 and 2035.
The market is estimated to witness a healthy growth during 2026-2035 to reach around USD 172.23 Billion by 2035.
The market is being driven due to growth of the automotive sector, the presence of a broad range of vehicles, and the rising export opportunities.
The key trends aiding the market include favourable government incentives and technological advancements.
Based on vehicle type, market segmentations include passenger cars, light commercial vehicles, and heavy commercial vehicles.
Different sales channels are OEM and aftermarket.
The major players in the market are Robert Bosch GmbH, Denso Corp., Continental AG, ZF Friedrichshafen AG, Marelli Holdings Co., Ltd., Hyundai Motor Co., Sumitomo Electric Industries, Ltd., Magna International Inc., Valeo S.A., and Aisin Corporation, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Vehicle Type |
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| Breakup by Sales Channel |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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