Size of the automotive supplier market worldwide
As many automotive manufacturing companies have taken to outsourcing an increasing number of component groups or automotive parts. Typically, these products are provided by external suppliers. Products supplied by the world’s top automotive suppliers range from fuel systems to steering systems, as well as outer vehicle components such as chassis systems and tires.
In 2013, German companies Continental and Bosch topped the ranking of the world’s largest automotive suppliers, while Japan’s Denso finished third. The company was founded in 1949 in Kariya, Japan and is part of the Toyota Group. In the fiscal year ending March 31, 2014, Denso reported global net sales of more than 39 billion U.S. dollars. Denso invests a significant amount of its consolidated sales in research and development activities: In the fiscal year of 2014, Denso's R&D expenses amounted to around 3.5 billion U.S. dollars. Automotive components manufactured by Denso include hybrid vehicle components, climate control systems and pre-crash radar systems.
The automotive supplier market is driven by a shift to lighter materials, as well as the trend towards electric vehicles and alternative fuel powertrains. It is expected that the automotive supplier market will reach 620 billion euros by 2015.