Germany Auto Components Market Revenues to Amount to USD 58 Bn by 2021, Informs TechSci Research in Its New Study Available at MarketPublishers.com14 Sep 2016 • by Natalie Aster
LONDON – The automotive industry contributed approximately 20% to the total industrial output in Germany in the previous year. Constantly rising demand for automotive components in the country can be explained by increasing domestic production of passenger cars, which registered 3% YoY growth in the past year.
In 2015, the passenger car segment held the lion’s share of the domestic automotive components market in Germany. Furthermore, this trend is likely to continue through 2021, majorly due to anticipated passenger cars sales growth, expanding size of passenger car fleet and also strong growth of the country’s economy.
Rising automobiles sales, increasing research and development investments and expanding vehicle fleet size are predicted to propel further growth in the German automotive components in the next five years. Furthermore, the presence of top automotive OEMS in Germany is expected to increase remarkably in the years to come.
The revenues of the German automotive components market is anticipated to amount to USD 58 billion by the year 2021.
Cutting-edge TechSci Research report, “Germany Automotive Components Market By Vehicle Type, By Demand Category, By Component Type, Competition Forecast and Opportunities, 2011 - 2021”, uncovers reliable data on the German automotive components market including details on the market shares, segments, size, trends and opportunities. The research publication contains a granular market assessment basing on vehicle type, component type and by demand category. It describes the regulative landscape, touches upon the recent industry changes, explores the competitive environment and gives valuable strategic recommendations. The report points out and discusses the main market growth drivers and restraints and also provides detailed future forecasts through 2021.
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