DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/clkgqw/autoparts_update_m) has announced the addition of the "Autoparts Update Market Report 2012" report to their offering.
In 2011, the apparent UK autoparts market was estimated to have a value of £13.89bn, representing an increase of 2.4% on the previous year. The market was, however, 13.1% down on 2007, highlighting the difficulties faced by the market over the 5-year period. This decline is largely attributable to recessionary factors, with vehicle production and registrations falling considerably in 2009 and having not yet fully recovered.
The autoparts market is extremely diverse, supplying vehicle producers with a range of components and accessories ranging from engines, exhaust systems and gearboxes to in-car entertainment systems and car care products. The market can be divided into two main sectors: original equipment (OE); and the aftermarket. Both sectors were significantly impacted by the economic downturn, with vehicle production levels, used-car sales and consumer spending all subdued.
The UK automotive industry has experienced a strong recovery in the years following the economic downturn. In the latter half of 2009, the UK Government introduced the car scrappage scheme, generating almost 400,000 new car registrations which, in turn, resulted in increasing levels of vehicle production. Throughout 2011, the UK automotive industry attracted significant investment from a range of global vehicle producers including Jaguar Land Rover, Nissan, BMW, and Toyota.
Currently, the dominant trend impacting the market is the decarbonisation of UK roads, with European and national regulations; Government-led funding initiatives; and industry investment all focused on creating successful carbon-reducing technologies.
With increased investment in the UK automotive industry, along with environmentally-focused funding initiatives, Key Note forecasts that the UK market for autoparts will experience steady growth in 2012, with output rising further over the next 5 years.
Companies Mentioned
- Jaguar Land Rover
- Nissan
- BMW
- Toyota
- GKN Plc
- Unipart Group of Companies Ltd
- Ti Automotive Ltd
- Tomkins Ltd
For more information visit http://www.researchandmarkets.com/research/clkgqw/autoparts_update_m