Auto Parts Manufacturing in Illinois
The Auto Parts Manufacturing industry in Illinois is subject to the same set of demand factors as the national counterpart. Demand from key downstream markets is expected to improve, which has driven the revenue growth for the Illinois industry. Despite revenue growth, the industry in Illinois has gradually consolidated toward major players and exhibits high market share concentration. Additionally, the mix of products made in the state tends to generate lower profit margins than the national product set, weighing on industry profitability. Over the next five years, IBISWorld forecasts industry revenue to decline. At the national level, an expected decline in new car sales should reduce demand from automakers and drag on industry revenue. However, demand from auto parts retailers is expected to improve as the vehicle fleet ages. While these trends affect the industry nationwide, manufacturing in Illinois may experience specific structural challenges.
Companies in this industry manufacture and rebuild a variety of motor vehicle parts and accessories. These parts include airbags, air-conditioners, catalytic converters, exhaust systems, mufflers and resonators, radiators, radiator cores and wheels. Engines, tires, brakes, steering systems, interiors, suspensions, transmissions and automotive electronics are not included in the industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook