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Auto Parts Market by Product and Geography - Forecast and Analysis 2022-2026

  • Published: Sep 2022
  • Pages: 137
  • SKU: IRTNTR70960
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The auto parts market is projected to grow by USD 324.52 billion with a CAGR of 3.1% during the forecast period 2021 to 2026.

This auto parts market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers auto parts market segmentation by end-user (OEM and aftermarket) and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The auto parts market report also offers information on several market vendors, including 3M Co., Aisin Corp., Akebono Brake Industry Co. Ltd., Brembo SpA, Continental AG, Cooper Tire and Rubber Co., Delphi Technologies Plc, Denso Corp., Faurecia SE, General Motors Co, HELLA GmbH and Co. KG, Lear Corp., Magna International Inc., Marelli Holdings Co. Ltd., Tenneco Inc., The Goodyear Tire and Rubber Co., Toyota Boshoku Corp., Valeo SA, Robert Bosch GmbH, and ZF Friedrichshafen AG among others.

What will the Auto Parts Market Size be During the Forecast Period?

Auto Parts Market Size

Download Report Sample to Unlock the Auto Parts Market Size for the Forecast Period and Other Important Statistics

 

Auto Parts Market: Key Drivers, Trends, and Challenges

The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges market.

Key Auto Parts Market Driver

The increased usage of technological advances in the global auto parts market is one of the key factors driving the auto parts market growth. 3D printing technology is being used to fabricate and manufacture auto parts. Also, most vehicles produced today have a wide assortment of additively manufactured fabricated parts that are incorporated into the assembly. This includes a range of auto parts, such as engine components, gears, gearboxes, and brake components, to frame construction. Almost every auto part in every type of vehicle can be made lighter through the usage of additive manufacturing technology rather than the use of metals. Thus, the emergence of 3D printing in the automotive industry and the growing demand for hybrid and all-electric vehicles are likely to boost the market's growth during the forecast period. 

Key Auto Parts Market Trend

Increasing M&A and partnerships are one of the key auto parts market trends fueling the market growth. Vendors are adopting strategies such as M&A and partnerships to gain a competitive advantage over other vendors and new entrants. For instance, in June 2021, Goodyear Tire and Rubber Co. acquired Cooper Tire and Rubber Co to create a stronger base in the US. Such factors are expected to propel the demand for auto parts from automobile manufacturers during the forecast period.

Key Auto Parts Market Challenge

A sharp decline in automobile production and sales is one of the key factors challenging the auto parts market growth. The outbreak of COVID-19 negatively impacted the sales and production of automobiles across the globe. High motorization rates in North America and Europe, an increase in tariffs on imported vehicles in the US and China, and the economic slowdown are likely to decrease the sales of vehicles in the coming years. The decline in the sales of vehicles has compelled several vehicle manufacturers to stop vehicle production. Such halts in vehicle production ahead of the decline in sales are expected to reduce the demand for auto parts and hamper the growth of the market during the forecast period.

This auto parts market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global auto parts market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the auto parts market during the forecast period.

Who are the Major Auto Parts Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 3M Co.
  • Aisin Corp.
  • Akebono Brake Industry Co. Ltd.
  • Brembo SpA
  • Continental AG
  • Cooper Tire and Rubber Co.
  • Delphi Technologies Plc
  • Denso Corp.
  • Faurecia SE
  • General Motors Co
  • HELLA GmbH and Co. KG
  • Lear Corp.
  • Magna International Inc.
  • Marelli Holdings Co. Ltd.
  • Tenneco Inc.
  • The Goodyear Tire and Rubber Co.
  • Toyota Boshoku Corp.
  • Valeo SA
  • Robert Bosch GmbH
  • ZF Friedrichshafen AG

 

This statistical study of the auto parts market encompasses successful business strategies deployed by the key vendors. The auto parts market is fragmented, and the vendors are deploying growth strategies such as making significant investments in R&D to compete in the market.

Product Insights and News

  • goodyear.com - The company offers auto parts such as shock absorbers, steering components, and tires.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The auto parts market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Auto Parts Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the auto parts market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Auto Parts Market?

Auto Parts Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

38% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the auto parts market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Improving and stabilizing socioeconomic conditions will facilitate the auto parts market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

In 2020, the increase in the number of COVID-19 cases adversely impacted the growth of the regional market. However, the initiation of vaccination drives led to the removal of lockdowns in 2021.  Thus, the regional market is expected to grow during the forecast period.

What are the Revenue-generating End-user Segments in the Auto Parts Market?

Auto Parts Market Share

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The auto parts market share growth by the OEM segment will be significant during the forecast period. The buyers prefer auto parts manufactured by OEMs because the auto parts offered by them are the same part as what was originally installed during the manufacturing process. This provides the buyers with peace of mind, as they know how it will perform and have an assurance of quality. Therefore, due to these factors, the OEM segment of the market is expected to grow during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the auto parts market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Auto Parts Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 3.1%

Market growth 2022-2026

$324.52 billion

Market structure

Fragmented

YoY growth (%)

2.9

Regional analysis

North America, Europe, APAC, South America, and the Middle East and Africa

Performing market contribution

APAC at 38%

Key consumer countries

US, Canada, China, Japan, and Germany

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

3M Co., Aisin Corp., Akebono Brake Industry Co. Ltd., Brembo SpA, Continental AG, Cooper Tire and Rubber Co., Delphi Technologies Plc, Denso Corp., Faurecia SE, General Motors Co, HELLA GmbH and Co. KG, Lear Corp., Magna International Inc., Marelli Holdings Co. Ltd., Tenneco Inc., The Goodyear Tire and Rubber Co., Toyota Boshoku Corp., Valeo SA, Robert Bosch GmbH, and ZF Friedrichshafen AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Auto Parts Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive auto parts market growth during the next five years
  • Precise estimation of the auto parts market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the auto parts industry across North America, Europe, APAC, South America, and the Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of auto parts market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 OEM - Market size and forecast 2021-2026
      • Exhibit 28: Chart on OEM - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 29: Data Table on OEM - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 30: Chart on OEM - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on OEM - Year-over-year growth 2021-2026 (%)
    • 5.4 Aftermarket - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Aftermarket - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 33: Data Table on Aftermarket - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 34: Chart on Aftermarket - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Aftermarket - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by End-user
      • Exhibit 36: Market opportunity by End-user ($ billion)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Canada - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Canada - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 71: Data Table on Canada - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 72: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 Japan - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ billion)
      • Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 3M Co.
              • Exhibit 89: 3M Co. - Overview
              • Exhibit 90: 3M Co. - Business segments
              • Exhibit 91: 3M Co. - Key news
              • Exhibit 92: 3M Co. - Key offerings
              • Exhibit 93: 3M Co. - Segment focus
            • 10.4 Continental AG
              • Exhibit 94: Continental AG - Overview
              • Exhibit 95: Continental AG - Business segments
              • Exhibit 96: Continental AG - Key news
              • Exhibit 97: Continental AG - Key offerings
              • Exhibit 98: Continental AG - Segment focus
            • 10.5 Cooper Tire and Rubber Co.
              • Exhibit 99: Cooper Tire and Rubber Co. - Overview
              • Exhibit 100: Cooper Tire and Rubber Co. - Product / Service
              • Exhibit 101: Cooper Tire and Rubber Co. - Key offerings
            • 10.6 Delphi Technologies Plc
              • Exhibit 102: Delphi Technologies Plc - Overview
              • Exhibit 103: Delphi Technologies Plc - Business segments
              • Exhibit 104: Delphi Technologies Plc - Key offerings
              • Exhibit 105: Delphi Technologies Plc - Segment focus
            • 10.7 Denso Corp.
              • Exhibit 106: Denso Corp. - Overview
              • Exhibit 107: Denso Corp. - Business segments
              • Exhibit 108: Denso Corp. - Key news
              • Exhibit 109: Denso Corp. - Key offerings
              • Exhibit 110: Denso Corp. - Segment focus
            • 10.8 General Motors Co
              • Exhibit 111: General Motors Co - Overview
              • Exhibit 112: General Motors Co - Business segments
              • Exhibit 113: General Motors Co - Key news
              • Exhibit 114: General Motors Co - Key offerings
              • Exhibit 115: General Motors Co - Segment focus
            • 10.9 Marelli Holdings Co. Ltd.
              • Exhibit 116: Marelli Holdings Co. Ltd. - Overview
              • Exhibit 117: Marelli Holdings Co. Ltd. - Product / Service
              • Exhibit 118: Marelli Holdings Co. Ltd. - Key news
              • Exhibit 119: Marelli Holdings Co. Ltd. - Key offerings
            • 10.10 Robert Bosch GmbH
              • Exhibit 120: Robert Bosch GmbH - Overview
              • Exhibit 121: Robert Bosch GmbH - Business segments
              • Exhibit 122: Robert Bosch GmbH - Key news
              • Exhibit 123: Robert Bosch GmbH - Key offerings
              • Exhibit 124: Robert Bosch GmbH - Segment focus
            • 10.11 Tenneco Inc.
              • Exhibit 125: Tenneco Inc. - Overview
              • Exhibit 126: Tenneco Inc. - Business segments
              • Exhibit 127: Tenneco Inc. - Key news
              • Exhibit 128: Tenneco Inc. - Key offerings
              • Exhibit 129: Tenneco Inc. - Segment focus
            • 10.12 ZF Friedrichshafen AG
              • Exhibit 130: ZF Friedrichshafen AG - Overview
              • Exhibit 131: ZF Friedrichshafen AG - Business segments
              • Exhibit 132: ZF Friedrichshafen AG - Key news
              • Exhibit 133: ZF Friedrichshafen AG - Key offerings
              • Exhibit 134: ZF Friedrichshafen AG - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 135: Inclusions checklist
                • Exhibit 136: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 137: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 138: Research methodology
                • Exhibit 139: Validation techniques employed for market sizing
                • Exhibit 140: Information sources
              • 11.5 List of abbreviations
                • Exhibit 141: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
              Interested in this report?
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              Auto Parts market growth will increase by $299.98 billion during 2020-2025.
              The auto parts market is expected to grow at a CAGR of 2.99% during 2020-2025.
              Technavio has segmented the auto parts market by end user (OEM and Aftermarket) and geographic (North America, Europe, APAC, South America, and MEA).
              3M Co., Continental AG, Cooper Tire and Rubber Co., Delphi Technologies Plc, DENSO Corp., General Motors Co., Marelli Holdings Co. Ltd., Robert Bosch GmbH, Tenneco Inc., ZF Friedrichshafen AG are a few of the key vendors in the auto parts market.
              APAC will register the highest growth rate of 59.62% among the other regions. Therefore, the auto parts market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • China
              • Germany
              • Japan
              • South Korea (Republic of Korea)
              The key factors driving the auto parts market growth are:
              • Increased usage of technological advancement in the global auto parts market
              The auto parts market vendors should focus on grabbing business opportunities from the oem segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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