The Asia-Pacific automotive contract manufacturing market is expected to witness significant growth during the forecast period. Some of the factors augmenting the market growth include the increasing automotive unit sales in the region, and the availability of skilled workforce and technology at a lower cost as compared to developed economies. 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 the shifting of component production from their production unit to a contractor in these economies. 

Additionally, an initiative by the government to increase production in their countries is also augmenting the market growth. For instance, India is working toward “Make in India” whereas China is enforcing its “Make in China” initiative. However, there are some of the major restraints of the market that hamper the market growth such as the integrating issues between OEMs and vendors that intensify outsourcing risks. Outsourcing risks include lack of control over production and their technique, quality concern, and 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 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 are likely to provide enormous opportunities to the automotive contract

The automotive contract manufacturing market has been segmented based on services offered by the contract companies and the type of vehicle. By services, the market is segmented into design & development, vehicle assembly, automotive electronics, and component manufacturing. Component manufacturing and vehicle assembly are expected to hold a significant market share whereas automotive electronics and design & development will notice considerable growth during the forecast period. By vehicle type, the market has been segmented into passenger cars, two-wheelers, commercial vehicles, and construction & agricultural vehicle. It is expected that passenger cars will have a significant market along with a noteworthy growth rate.

The Asia-Pacific automotive contract manufacturing market is further analyzed based on the countries that are contributing significantly towards the growth of the market. The market has been divided into Japan, China, India, and the 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.

Some of the key players of the Asia-Pacific automotive contract manufacturing include Aisin Seiki Co., Atop Products Pvt. Ltd., AVTECH Ltd., Bright Brothers Ltd., Calsonic Kansei Corp., Deltronix India Ltd., JTEKT Corp., KLT Automotive & Tubular Products Ltd., Lumax Auto Technologies Ltd., Magna International Inc., NHK Spring Co., Ltd., NTN Corp., Takata Corp., and Yazaki Corp. In order to sustain in the competitive market, these players adopt various strategies such as mergers and acquisitions, expansions, joint ventures, and product development. Further, the entry of a new market player will result in a new partnership and merger which will augment the automotive contract manufacturing market in near future. For instance, as per Indian media, about six new automotive companies will enter the Indian market from 2021-2022. Kia Motor, Daihatsu, Peugeot Citroen, Beiqi Foton, SAIC Motor Corp. Ltd., and Changan Automotive are expected to enter in Indian automotive market in near future.

Research Methodology

The market study of the Asia-Pacific automotive contract manufacturing market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to break down the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Asia-Pacific automotive contract manufacturing Market Research and Analysis by Services.
2. Asia-Pacific automotive contract manufacturing Market Research and Analysis by Vehicle Type.

The Report Covers

• Comprehensive research methodology of the Asia-Pacific automotive contract manufacturing market.
• 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 that 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