The intense competition in the automotive parts industry makes it imperative for original equipment manufacturers (OEMs) to distinguish themselves on the basis of economies of technology, scale, cost of production, and quality. Technology that not just improves capital and labor productivity but also reduces the cost of production allows OEMs to gain a greater market share in the industry. OEM companies have also been increasingly focused on innovative product lines and supply chains so as to deliver a superior product at competitive pricing. Recent technologies such as 3D printing are being used to create efficient on-demand automotive parts and render a certain degree of flexibility to their supply chains.
Persistence Market Research stays ahead of the latest macro and microeconomic trends and news that impact the automotive parts industry and OEMs in particular. The expert assessment provided by our team of analysts can help clients achieve transformational growth in this expanding market.