Manufacturing
Asia-Pacific Automotive Contract Manufacturing Market Research and Forecast 2018-2023
Asia-pacific automotive contract manufacturing market size, growth, insider, research & analysis report by services (design & development, vehicle assembly, automotive electronics, component manufacturing) forecast 2018-2023
Asia-Pacific automotive contract manufacturing market is expected to witness significant growth in the near future. Some of the factors augmenting the contract manufacturing market are increasing automotive unit sales in the region, and availability of skilled workforce and technology at a lower cost as compared to developed European and American economies. In 2017, as per International Organization of Motor Vehicle Manufacturers about 49 million vehicles have been sold in Asia-Pacific and Middle-East region combinedly. China, Japan, and India are the major automotive markets in the region. Emerging countries such as India and China are providing a significant infrastructure and cheaper workforce to OEMs for contract manufacturing. This motivates shifting of component production from their own production unit to a contractor in these economies. Additionally, an initiative by the government to increase production in their countries are also augmenting the market. As an instance, India is working toward “Make in India” whereas China is enforcing its “Make in China” initiative.
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However, there are some of the major restraints of the market that hamper the market growth which includes integrating issues between OEMs and vendors that intensify outsourcing risks. Outsourcing risks include lack of control over production and their technique, quality concern, added price. Besides this, significant opportunities can be expected due to the introduction of new automotive technologies in the market. Many economies of the region including China have been focusing on sustainable development, and therefore are focusing on electric and hybrid vehicles production. Surging electric and hybrid vehicles market in emerging economies of the region such as China and India are likely to provide enormous opportunities to the automotive contract.
Automotive contract manufacturing market has been segmented on the basis of services offered by the contract companies and type of vehicle. By services, the market has been segmented into design and development, vehicle assembly, automotive electronics, and component manufacturing. Component manufacturing and vehicle assembly are expected to enjoy a significant market share whereas automotive electronics and design & development will notice a considerable growth in the forecast period in the region. By vehicle type, the market has been segmented into passenger cars, two-wheelers, commercial vehicle, and construction & agricultural vehicle. It is expected that passenger cars will have a significant market along with a noteworthy growth rate. Moreover, India is the largest market of two-wheeler in the region, hence a significant market of two-wheeler can be expected in the region during 2018-2023.
The Asia-Pacific automotive contract manufacturing market is further analyzed on the basis of the countries that are contributing significantly towards the growth of the market. The market has been divided into Japan, China, India, and Rest of Asia-Pacific. During the forecast period, it is expected that China will have the largest market in the Asia-Pacific automotive contract manufacturing market. High automotive volume sales are the major reason for the growth of the Chinese market. As per International Organization of Motor Vehicle Manufacturers, in 2017, China has observed a sale of 29 million vehicles in 2018 as compared to 28 million in 2017.
The report covers
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the Asia-Pacific automotive contract manufacturing market.
Insights about market determinants which are stimulating the Asia-Pacific automotive contract manufacturing market.
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.
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