Turkey Auto Parts Manufacturing Market Report and Forecast 2024-2032

Turkey Auto Parts Manufacturing Market Outlook

The Turkey auto parts manufacturing market size reached approximately USD 8.77 billion in 2023. The market is further projected to grow at a CAGR of 6.2% between 2024 and 2032, reaching a value of USD 15.17 billion by 2032.

Key Trends in the Market

Auto parts manufacturing refers to the process of manufacturing different components for the motor vehicles. The multi-stage and complex process involves testing, designing, delivering, and assembling the components. Auto parts manufacturing companies specialise in the production of various essential components including suspension systems, engines, and brakes, among others.

• The expansion of the automotive sector is bolstering the Turkey auto parts manufacturing market growth. The rising urbanisation, disposable incomes, and population growth is propelling the requirement for vehicles. The increasing concerns about the environment are resulting in the adoption of environment friendly vehicles boosting the production of innovative automotive parts.

• Growing stringency of emission regulations is supporting the market expansion in Turkey as they are resulting in increased investments by the key players of the market towards research and development activities.

• Rapid adoption of novel technologies is providing lucrative growth opportunities to the market. 3D printing and robotics allow the production of customised and complex auto components and ensures greater precision, speed, and cost efficiency. They also aid in optimisation of designs and production of high performing and lightweight components, enhancing the fuel efficiency and vehicle performance.

Turkey Auto Parts Manufacturing Market Analysis

On the basis of component, the market is divided into cooling system, underbody components, engine components, electrical components, automotive battery, automotive filter, lighting components, chassis system, and transmission and steering system, among others.

Cooling system is sub-divided by type into compressor, radiator, pump, and thermostat. Engine components are sub-divided by type into starter, pump, engine, and alternator. Electrical components are sub-divided by type into ignition coil, ignition switch, and spark and glow plug.

Based on sales channel, the market is bifurcated into OEM and aftermarket. On the basis of vehicle type, the Turkey auto parts manufacturing market segmentation includes passenger cars, light commercial vehicles, and heavy commercial vehicles, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Robert Bosch GmbH

• Denso Corporation

• ZF Friedrichshafen AG

• Hyundai Motor Group

• Aisin Corporation

• Others

Market Share by Vehicle Type

Passenger cars are expected to account for a significant Turkey auto parts manufacturing market share over the forecast period. This growth can be attributed to the increased preference for safety and comfort among the regional population and rising disposable incomes. The growing production of electric and hybrid vehicles owing to increasing environmental concerns is aiding the expansion of the segment.

Market Share by Sales Channel

OEM is anticipated to witness significant growth over the forecast period. OEMs directly supply original auto parts to vehicle manufacturers for installation. The advantages associated with partnering with OEMs include reduced material and production costs and minimised investments in manufacturing along with gaining expertise in product design. The increased Turkey auto parts manufacturing market demand is further bolstering the segment growth.

Competitive Landscape

Robert Bosch GmbH, headquartered in Gerlingen, Germany, is a multinational engineering and technology company that was founded in 1886. The company specialises in automated driving, mobility solutions, sustainable technology, and smart homes, among others.

Denso Corporation, headquartered in Aichi, Japan, is a motor vehicle manufacturing company that is dedicated towards providing extraordinary products to their customers through their unique manufacturing processes. The company specialises in wireless charging, connected cars, and human machine interface, among others.

ZF Friedrichshafen AG, headquartered in Friedrichshafen, Germany, is a multinational engineering and manufacturing company that is involved in the production of advanced driver assistance systems, transmission systems, and brake systems, among others.

Other Turkey auto parts manufacturing market key players include Hyundai Motor Group, and Aisin Corporation, among others.

Key Highlights of the Report