Metal Spare Parts Market

Global Metal Spare Parts Market By Certification (Genuine Parts, Certified Parts, and Uncertified Parts), By Metal Type (Steel, Aluminum, Magnesium, Iron, and Others), By Application (Vehicle, and Equipment), By Distribution Chanel (Online, and Offline) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa)

  • Report ID: CM-53
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 11
  • No. Of Pages: 310
  • Format:
  • Pub. Date: 2020-10-06
  • Share:

Market Outlook:

The global metal spare parts market was valued at USD 526.4 Billion in 2019 and is projected to reach USD 541.3 Billion by 2027, expanding around a CAGR of 4.1% during the forecast period. Spare parts are changeable part used for the repair or replacement of failed or damaged units. As per certification, these parts are categorized such as genuine parts, certified parts, and uncertified parts. Genuine parts are components installed at the time of manufacturing of a vehicle or an equipment. These parts are manufactured using various type of metals such as steel, iron, aluminium, and magnesium. Initially, steel and iron were widely used metals in the automotive industry. Most of a vehicle’s weight was due to the components made from these metals. However, nowadays, aluminium and magnesium are gaining traction in the market owing to increasing demand of lightweight vehicles. Magnesium and aluminum weigh lighter than steel and iron, which is expected to propel the demand for lightweight metals in the market.

Global Metal Spare Market Analysis

Market Dynamics
The global metal spare parts market growth is attributed to factors such as the rising use of metal spare parts in various industries such as construction, aerospace, defense, and automotive. The automotive industry offers extreme market potential in the global metal spare parts manufacturing market, due to speedy advancements and developments made in the manufacture of automobile spare parts. Moreover, applications of the metal spare parts used for construction equipment, agricultural equipment, and mining equipment is gaining traction. Spare parts are used in aircrafts, ships, and several other machineries; therefore, increasing use of aircrafts and ships for import and export, defense, and transportation is expected to drive the demand for metal spare parts in the future.
 

Segmental Outlook

On the basis of certification, the global metal spare parts market is segmented as genuine parts, certified parts, uncertified parts. Genuine parts segment is anticipated is dominating the market with more than half of the market share and expected to continue its dominance during the forecast period as genuine parts are priced comparatively high. Certified parts segment is estimated to hold approximately over 28% share of the market in 2020 as certified parts are widely accepted by manufactures for manufacturing finished products. The uncertified parts segment is estimated to grow at significant CAGR during forecast period share during forecast period due to availably of counterfeit cheap priced spare parts.

Global Metal Spare Market By Certification

Based on material, the market is segmented into steel, aluminum, magnesium, iron, others. Steel account for the major share as the metal is widely used by the automotive industry. Additionally, iron is extensively employed for manufacturing car engines and other spare parts. Titanium, copper, brass, and others are used for manufacturing of machinery, equipment, and automobile. These metal offers various characteristics such as corrosion resistance and high strength, which makes them suitable for manufacturing machinery.

Based on application, the market is divided into vehicle, equipment. Vehicle account for the major share owing to increasing demand for vehicles such as passenger vehicles and transportation vehicles (heavy duty vehicles) worldwide. The equipment segment is expected to grow in the near future, as the demand for agricultural equipment, mining equipment, and construction equipment is increasing, due to increase in agricultural, construction and mining activities.
On the basis of distribution channels, the market is divided into online and offline. The offline segment is expected to hold a high share of the global metal spare parts market, owing to the increasing number of purchase from offline channel.

Global Metal Spare Market By Type

Regional Outlook

In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a promising region for the market. The region constituted approximately over 1/3rd of the market in 2020. The market in the region is projected to expand at a CAGR over 4% during the forecast period as there is increase in demand for metal spare parts in Asia Pacific, increasing focus of players in development of metal spare parts, rise in government initiatives are some of the factors expected to boost the market growth on the region.

Global Metal Spare Market By Region

Competitive Landscape

The global metal spare parts manufacturing market is anticipated to witness significant opportunity during the forecast period. Moreover, the market is currently highly fragmented in nature with the presence of considerable players in this market. The players are increasingly focusing on product innovations to sustain in highly competitive and fragmented market. Moreover, the partnerships, mergers, and acquisition are some of the other strategies adopted by leading players to strengthen their current position in this market and capture potential market opportunities. Also, leading players operating at global level are holding remarkable position in this market.

Global Metal Spare Market By Players

Their wide product portfolio and strong brand positioning in the global metal spare parts manufacturing market is responsible for the current position of few players with strong customer portfolio in the market. Moreover, the increasing penetration of local manufacturers and rising export from the emerging economies is responsible for the fragmentation of global metal spare parts manufacturing market. The strong growth automotive production and rising construction, mining, and agriculture activities is ultimately leading to the increasing production of equipment involved in these operations. Hence, propelling the demand for spare parts across globe.

  • Key players in the market include Jayem Automotives, ANAND Group, AVTEC, Bharat Seats Limited, DENSO CORPORATION, Guru Nanak Auto Enterprises Ltd, HI-TECH TOOLS, JBM Group, JTEKT India Limited, Lucas TVS, Orion Hydrulics Pvt Ltd., Robert Bosch Power Tools GmbH, Sundaram Clayton Limited, UNO Minda. These companies are considered manufacturers of metal spare parts based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
  • The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the Metal Spare Parts is added in the company’s capacity.
  • In 2017, Jayem Automotive entered into a joint venture with TATA MOTORS for special performance vehicles for the development of special performance vehicles. The joint venture helped the company offer an innovative range of niche products for passenger cars.
  • In January 2018, Robert Bosch Power Tools GmbH acquired 5% indirect ownership stake in HERE Technologies. HERE Technologies is a global provider of digital mapping and location services. This action helps them to increase Product Portfolios.
  • On July 2019, DENSO CORPORATION established joint venture to offer aftermarket products and services in South Africa. This joint venture helps to sell aftermarket products and services in Southern Africa.

Global Metal Spare Market By Manufacturer

Key Benefits for Industry Participants & Stakeholders

  • In-depth Analysis of the Global Metal Spare Parts Market
  • Historical, Current and Projected Market Size in terms of Value
  • Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
  • Industry Drivers, Restraints and Opportunities Covered in the Study
  • Recent Industry Trends and Developments
  • Competitive Landscape & Strategies of Key Players
  • Neutral Perspective on Global Metal Spare Parts Market Performance
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Metal Spare Parts Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Metal Spare Parts Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Metal Spare Parts Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Metal Spare Parts Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Metal Spare Parts Market Size & Forecast, 2017-2027
      4.5.1 Metal Spare Parts Market Size and Y-o-Y Growth
      4.5.2 Metal Spare Parts Market Absolute $ Opportunity
Chapter 5 Global Metal Spare Parts Market Analysis and Forecast By Certification
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Certification
      5.1.2 Basis Point Share (BPS) Analysis By Certification
      5.1.3 Absolute $ Opportunity Assessment By Certification
   5.2 Metal Spare Parts Market Size Forecast By Certification
      5.2.1 Genuine Parts
      5.2.2 Certified Parts
      5.2.3 Uncertified Parts
   5.3 Market Attractiveness Analysis By Certification
Chapter 6 Global Metal Spare Parts Market Analysis and Forecast By Metal Type
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Metal Type
      6.1.2 Basis Point Share (BPS) Analysis By Metal Type
      6.1.3 Absolute $ Opportunity Assessment By Metal Type
   6.2 Metal Spare Parts Market Size Forecast By Metal Type
      6.2.1 Steel
      6.2.2  Aluminum
      6.2.3  Magnesium
      6.2.4  Iron
      6.2.5  Others
   6.3 Market Attractiveness Analysis By Metal Type
Chapter 7 Global Metal Spare Parts Market Analysis and Forecast By Application
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By Application
      7.1.2 Basis Point Share (BPS) Analysis By Application
      7.1.3 Absolute $ Opportunity Assessment By Application
   7.2 Metal Spare Parts Market Size Forecast By Application
      7.2.1 Vehicle
      7.2.2 Equipment
   7.3 Market Attractiveness Analysis By Application
Chapter 8 Global Metal Spare Parts Market Analysis and Forecast  By

                Distribution Channel
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities  By Distribution Channel
      8.1.2 Basis Point Share (BPS) Analysis  By Distribution Channel
      8.1.3 Absolute $ Opportunity Assessment  By Distribution Channel
   8.2 Metal Spare Parts Market Size Forecast  By Distribution Channel
      8.2.1 Online
      8.2.2 Offline
   8.3 Market Attractiveness Analysis  By Distribution Channel
Chapter 9 Global Metal Spare Parts Market Analysis and Forecast by Region
   9.1 Introduction
      9.1.1 Key Market Trends & Growth Opportunities by Region
      9.1.2 Basis Point Share (BPS) Analysis by Region
      9.1.3 Absolute $ Opportunity Assessment by Region
   9.2 Metal Spare Parts Market Size Forecast by Region
      9.2.1 North America
      9.2.2 Europe
      9.2.3 Asia Pacific
      9.2.4 Latin America
      9.2.5 Middle East & Africa (MEA)
   9.3 Market Attractiveness Analysis by Region
Chapter 10 Coronavirus Disease (COVID-19) Impact
   10.1 Introduction
   10.2 Current & Future Impact Analysis
   10.3 Economic Impact Analysis
   10.4 Government Policies
   10.5 Investment Scenario
Chapter 11 North America Metal Spare Parts Analysis and Forecast
   11.1 Introduction
   11.2 North America Metal Spare Parts Market Size Forecast by Country
      11.2.1 U.S.
      11.2.2 Canada
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 North America Metal Spare Parts Market Size Forecast By Certification
      11.6.1 Genuine Parts
      11.6.2 Certified Parts
      11.6.3 Uncertified Parts
   11.7 Basis Point Share (BPS) Analysis By Certification
   11.8 Absolute $ Opportunity Assessment By Certification
   11.9 Market Attractiveness Analysis By Certification
   11.10 North America Metal Spare Parts Market Size Forecast By Metal Type
      11.10.1 Steel
      11.10.2  Aluminum
      11.10.3  Magnesium
      11.10.4  Iron
      11.10.5  Others
   11.11 Basis Point Share (BPS) Analysis By Metal Type
   11.12 Absolute $ Opportunity Assessment By Metal Type
   11.13 Market Attractiveness Analysis By Metal Type
   11.14 North America Metal Spare Parts Market Size Forecast By Application
      11.14.1 Vehicle
      11.14.2 Equipment
   11.15 Basis Point Share (BPS) Analysis By Application
   11.16 Absolute $ Opportunity Assessment By Application
   11.17 Market Attractiveness Analysis By Application
   11.18 North America Metal Spare Parts Market Size Forecast  By Distribution Channel
      11.18.1 Online
      11.18.2 Offline
   11.19 Basis Point Share (BPS) Analysis  By Distribution Channel
   11.20 Absolute $ Opportunity Assessment  By Distribution Channel
   11.21 Market Attractiveness Analysis  By Distribution Channel
Chapter 12 Europe Metal Spare Parts Analysis and Forecast
   12.1 Introduction
   12.2 Europe Metal Spare Parts Market Size Forecast by Country
      12.2.1 Germany
      12.2.2 France
      12.2.3 Italy
      12.2.4 U.K.
      12.2.5 Spain
      12.2.6 Russia
      12.2.7 Rest of Europe
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Europe Metal Spare Parts Market Size Forecast By Certification
      12.6.1 Genuine Parts
      12.6.2 Certified Parts
      12.6.3 Uncertified Parts
   12.7 Basis Point Share (BPS) Analysis By Certification
   12.8 Absolute $ Opportunity Assessment By Certification
   12.9 Market Attractiveness Analysis By Certification
   12.10 Europe Metal Spare Parts Market Size Forecast By Metal Type
      12.10.1 Steel
      12.10.2  Aluminum
      12.10.3  Magnesium
      12.10.4  Iron
      12.10.5  Others
   12.11 Basis Point Share (BPS) Analysis By Metal Type
   12.12 Absolute $ Opportunity Assessment By Metal Type
   12.13 Market Attractiveness Analysis By Metal Type
   12.14 Europe Metal Spare Parts Market Size Forecast By Application
      12.14.1 Vehicle
      12.14.2 Equipment
   12.15 Basis Point Share (BPS) Analysis By Application
   12.16 Absolute $ Opportunity Assessment By Application
   12.17 Market Attractiveness Analysis By Application
   12.18 Europe Metal Spare Parts Market Size Forecast  By Distribution Channel
      12.18.1 Online
      12.18.2 Offline
   12.19 Basis Point Share (BPS) Analysis  By Distribution Channel
   12.20 Absolute $ Opportunity Assessment  By Distribution Channel
   12.21 Market Attractiveness Analysis  By Distribution Channel
Chapter 13 Asia Pacific Metal Spare Parts Analysis and Forecast
   13.1 Introduction
   13.2 Asia Pacific Metal Spare Parts Market Size Forecast by Country
      13.2.1 China
      13.2.2 Japan
      13.2.3 South Korea
      13.2.4 India
      13.2.5 Australia
      13.2.6 South East Asia (SEA)
      13.2.7 Rest of Asia Pacific (APAC)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Asia Pacific Metal Spare Parts Market Size Forecast By Certification
      13.6.1 Genuine Parts
      13.6.2 Certified Parts
      13.6.3 Uncertified Parts
   13.7 Basis Point Share (BPS) Analysis By Certification
   13.8 Absolute $ Opportunity Assessment By Certification
   13.9 Market Attractiveness Analysis By Certification
   13.10 Asia Pacific Metal Spare Parts Market Size Forecast By Metal Type
      13.10.1 Steel
      13.10.2  Aluminum
      13.10.3  Magnesium
      13.10.4  Iron
      13.10.5  Others
   13.11 Basis Point Share (BPS) Analysis By Metal Type
   13.12 Absolute $ Opportunity Assessment By Metal Type
   13.13 Market Attractiveness Analysis By Metal Type
   13.14 Asia Pacific Metal Spare Parts Market Size Forecast By Application
      13.14.1 Vehicle
      13.14.2 Equipment
   13.15 Basis Point Share (BPS) Analysis By Application
   13.16 Absolute $ Opportunity Assessment By Application
   13.17 Market Attractiveness Analysis By Application
   13.18 Asia Pacific Metal Spare Parts Market Size Forecast  By Distribution Channel
      13.18.1 Online
      13.18.2 Offline
   13.19 Basis Point Share (BPS) Analysis  By Distribution Channel
   13.20 Absolute $ Opportunity Assessment  By Distribution Channel
   13.21 Market Attractiveness Analysis  By Distribution Channel
Chapter 14 Latin America Metal Spare Parts Analysis and Forecast
   14.1 Introduction
   14.2 Latin America Metal Spare Parts Market Size Forecast by Country
      14.2.1 Brazil
      14.2.2 Mexico
      14.2.3 Rest of Latin America (LATAM)
   14.3 Basis Point Share (BPS) Analysis by Country
   14.4 Absolute $ Opportunity Assessment by Country
   14.5 Market Attractiveness Analysis by Country
   14.6 Latin America Metal Spare Parts Market Size Forecast By Certification
      14.6.1 Genuine Parts
      14.6.2 Certified Parts
      14.6.3 Uncertified Parts
   14.7 Basis Point Share (BPS) Analysis By Certification
   14.8 Absolute $ Opportunity Assessment By Certification
   14.9 Market Attractiveness Analysis By Certification
   14.10 Latin America Metal Spare Parts Market Size Forecast By Metal Type
      14.10.1 Steel
      14.10.2  Aluminum
      14.10.3  Magnesium
      14.10.4  Iron
      14.10.5  Others
   14.11 Basis Point Share (BPS) Analysis By Metal Type
   14.12 Absolute $ Opportunity Assessment By Metal Type
   14.13 Market Attractiveness Analysis By Metal Type
   14.14 Latin America Metal Spare Parts Market Size Forecast By Application
      14.14.1 Vehicle
      14.14.2 Equipment
   14.15 Basis Point Share (BPS) Analysis By Application
   14.16 Absolute $ Opportunity Assessment By Application
   14.17 Market Attractiveness Analysis By Application
   14.18 Latin America Metal Spare Parts Market Size Forecast  By Distribution Channel
      14.18.1 Online
      14.18.2 Offline
   14.19 Basis Point Share (BPS) Analysis  By Distribution Channel
   14.20 Absolute $ Opportunity Assessment  By Distribution Channel
   14.21 Market Attractiveness Analysis  By Distribution Channel
Chapter 15 Middle East & Africa (MEA) Metal Spare Parts Analysis and Forecast
   15.1 Introduction
   15.2 Middle East & Africa (MEA) Metal Spare Parts Market Size Forecast by Country
      15.2.1 Saudi Arabia
      15.2.2 South Africa
      15.2.3 UAE
      15.2.4 Rest of Middle East & Africa (MEA)
   15.3 Basis Point Share (BPS) Analysis by Country
   15.4 Absolute $ Opportunity Assessment by Country
   15.5 Market Attractiveness Analysis by Country
   15.6 Middle East & Africa (MEA) Metal Spare Parts Market Size Forecast By Certification
      15.6.1 Genuine Parts
      15.6.2 Certified Parts
      15.6.3 Uncertified Parts
   15.7 Basis Point Share (BPS) Analysis By Certification
   15.8 Absolute $ Opportunity Assessment By Certification
   15.9 Market Attractiveness Analysis By Certification
   15.10 Middle East & Africa (MEA) Metal Spare Parts Market Size Forecast By Metal Type
      15.10.1 Steel
      15.10.2  Aluminum
      15.10.3  Magnesium
      15.10.4  Iron
      15.10.5  Others
   15.11 Basis Point Share (BPS) Analysis By Metal Type
   15.12 Absolute $ Opportunity Assessment By Metal Type
   15.13 Market Attractiveness Analysis By Metal Type
   15.14 Middle East & Africa (MEA) Metal Spare Parts Market Size Forecast By Application
      15.14.1 Vehicle
      15.14.2 Equipment
   15.15 Basis Point Share (BPS) Analysis By Application
   15.16 Absolute $ Opportunity Assessment By Application
   15.17 Market Attractiveness Analysis By Application
   15.18 Middle East & Africa (MEA) Metal Spare Parts Market Size Forecast  By Distribution

           Channel
      15.18.1 Online
      15.18.2 Offline
   15.19 Basis Point Share (BPS) Analysis  By Distribution Channel
   15.20 Absolute $ Opportunity Assessment  By Distribution Channel
   15.21 Market Attractiveness Analysis  By Distribution Channel
Chapter 16 Competition Landscape
   16.1 Metal Spare Parts Market: Competitive Dashboard
   16.2 Global Metal Spare Parts Market: Market Share Analysis, 2019
   16.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      16.3.1  Jayem Automotives
      16.3.2 ANAND Group
      16.3.3 AVTEC
      16.3.4 Bharat Seats Limited
      16.3.5 DENSO CORPORATION
      16.3.6 Guru Nanak Auto Enterprises Ltd
      16.3.7 HI-TECH TOOLS
      16.3.8 JBM Group
      16.3.9 JTEKT India Limited
      16.3.10 Lucas TVS
      16.3.11 Orion Hydrulics Pvt Ltd.
      16.3.12 Robert Bosch Power Tools GmbH
      16.3.13 Sundaram Clayton Limited
      16.3.14 UNO Minda
Key Segments Covered
By Certification
  • Genuine Parts
  • Certified Parts
  • Uncertified Parts
By Metal Type
  • Steel
  • Aluminum
  • Magnesium
  • Iron
  • Others
By Application
  • Vehicle
  • Equipment
By Distribution Chanel
  • Online
  • Offline
By Region
  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • France
    • Germany
    • Italy
    • Spain
    • Russia
    • Rest of the Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Rest of Asia Pacific (APAC)
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • South Africa
    • UAE
    • Rest of MEA

Key Market Players Profiled in the Report
  • Jayem Automotives
  • ANAND Group
  • AVTEC
  • Bharat Seats Limited
  • DENSO CORPORATION
  • Guru Nanak Auto Enterprises Ltd
  • HI-TECH TOOLS
  • JBM Group
  • JTEKT India Limited
  • Lucas TVS
  • Orion Hydrulics Pvt Ltd.
  • Robert Bosch Power Tools GmbH
  • Sundaram Clayton Limited
  • UNO Minda

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FAQ Section

Some frequently asked quetions about this report!

Additional company profiles can be provided on request.

According to this Growth Market Reports report, the market from Metal Spare Parts is likely to register a CAGR of approximately 4.1% during forecast period 2020-2027, with an anticipated valuation of USD 541.3 billion by the end of the 2027.

In addition to market size (in USD Billion) and Company Market Share (in % for base year 2019), other data such as Macro-economic factors, COVID 19 impact on the market is available in final report.

Rise in applications of metal spare parts in different industries, 3D printing technology in metal spare part manufacturing are anticipated to propel market growth and growing disposable income are key factors driving the metal spare parts market growth.

Vehicle are the key application that are driving the metal spare parts market.

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

The market is expected to decline between 2019 and 2020 owing to the slight impact of COVID-19 pandemic on the Metal Spare Parts market. The pandemic has led to shutodwon across production of automobile and equipment and hence the decline in demand for metal spare parts.

The base year considered for the global metal spare parts market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2021 to 2027.

The report covers GDP, disposable income, regulatory standards and testing of metal, population, automotive industry, and others.

Major Manufactures include, Jayem Automotives, ANAND Group, AVTEC, Bharat Seats Limited, DENSO CORPORATION, Guru Nanak Auto Enterprises Ltd, HI-TECH TOOLS, JBM Group, JTEKT India Limited, Lucas TVS, Orion Hydrulics Pvt Ltd., Robert Bosch Power Tools GmbH, Sundaram Clayton Limited, and UNO Minda.