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Report

South Korea Auto Parts Manufacturing Market Report and Forecast 2025-2034

Market Report I 2025-06-06 I 70 Pages I EMR Inc.

The South Korea auto parts manufacturing market reached approximately USD 120.50 Billion in 2024. The market is projected to grow at a CAGR of 3.30% between 2025 and 2034, reaching a value of around USD 166.72 Billionby 2034.

South Korea Auto Parts Manufacturing Market Growth

The growth of the automotive sector, the presence of a broad range of vehicles, and the rising export opportunities are some of the major factors fuelling the market growth. The country's automotive sector consists of global brand names such as Hyundai and Kia which are also involved in the production of auto parts for various types of vehicles such as sedans, SUVs, and electric vehicles, among others. Meanwhile, several multinational vehicle manufacturers are relying on South Korean auto suppliers for the purchase of their auto parts. In April 2024, BMW announced that it purchased automotive parts worth USD 4.6 billion from South Korean manufacturers.

Favourable government incentives to boost the sales of electric vehicles are also propelling the auto parts manufacturing market expansion. For instance, in September 2023, the South Korean government announced that it aims to offer temporary subsidies to customers purchasing EVs , which aids the demand for EV components such as batteries, electric motors, power electronics, and charging systems, among others.

South Korea Auto Parts Manufacturing Industry Segmentation

"South Korea Auto Parts Manufacturing Market Report and Forecast 2025-2034" offers a detailed analysis of the market based on the following segments:

Market Breakup by Component:

- Battery
- Cooling System_x000D_ _x000D_ Compressor _x000D_ Radiator _x000D_ Pump _x000D_ Thermostat _x000D_ _x000D_
- Battery
- Cooling System_x000D_ _x000D_ Compressor _x000D_ Radiator _x000D_ Pump _x000D_ Thermostat _x000D_ _x000D_
- Underbody Components_x000D_ _x000D_ Brake Components _x000D_ Exhaust Components _x000D_ _x000D_
- Engine Components_x000D_ _x000D_ Starter _x000D_ Engine _x000D_ Pump _x000D_ Alternator _x000D_ _x000D_
- Automotive Filter
- Lighting Components
- Electrical Components_x000D_ _x000D_ Ignition Coil _x000D_ Ignition Switch _x000D_ Spark and Glow Plug _x000D_ _x000D_
- Chassis System
- Transmission and Steering System
- Others

- Underbody Components_x000D_ _x000D_ Brake Components _x000D_ Exhaust Components _x000D_ _x000D_
- Battery
- Cooling System_x000D_ _x000D_ Compressor _x000D_ Radiator _x000D_ Pump _x000D_ Thermostat _x000D_ _x000D_
- Underbody Components_x000D_ _x000D_ Brake Components _x000D_ Exhaust Components _x000D_ _x000D_
- Engine Components_x000D_ _x000D_ Starter _x000D_ Engine _x000D_ Pump _x000D_ Alternator _x000D_ _x000D_
- Automotive Filter
- Lighting Components
- Electrical Components_x000D_ _x000D_ Ignition Coil _x000D_ Ignition Switch _x000D_ Spark and Glow Plug _x000D_ _x000D_
- Chassis System
- Transmission and Steering System
- Others

- Engine Components_x000D_ _x000D_ Starter _x000D_ Engine _x000D_ Pump _x000D_ Alternator _x000D_ _x000D_
- Battery
- Cooling System_x000D_ _x000D_ Compressor _x000D_ Radiator _x000D_ Pump _x000D_ Thermostat _x000D_ _x000D_
- Underbody Components_x000D_ _x000D_ Brake Components _x000D_ Exhaust Components _x000D_ _x000D_
- Engine Components_x000D_ _x000D_ Starter _x000D_ Engine _x000D_ Pump _x000D_ Alternator _x000D_ _x000D_
- Automotive Filter
- Lighting Components
- Electrical Components_x000D_ _x000D_ Ignition Coil _x000D_ Ignition Switch _x000D_ Spark and Glow Plug _x000D_ _x000D_
- Chassis System
- Transmission and Steering System
- Others

- Automotive Filter
- Lighting Components
- Electrical Components_x000D_ _x000D_ Ignition Coil _x000D_ Ignition Switch _x000D_ Spark and Glow Plug _x000D_ _x000D_
- Battery
- Cooling System_x000D_ _x000D_ Compressor _x000D_ Radiator _x000D_ Pump _x000D_ Thermostat _x000D_ _x000D_
- Underbody Components_x000D_ _x000D_ Brake Components _x000D_ Exhaust Components _x000D_ _x000D_
- Engine Components_x000D_ _x000D_ Starter _x000D_ Engine _x000D_ Pump _x000D_ Alternator _x000D_ _x000D_
- Automotive Filter
- Lighting Components
- Electrical Components_x000D_ _x000D_ Ignition Coil _x000D_ Ignition Switch _x000D_ Spark and Glow Plug _x000D_ _x000D_
- Chassis System
- Transmission and Steering System
- Others

- Chassis System
- Transmission and Steering System
- Others

Market Breakup by Vehicle Type:

- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles

Passenger Cars Light Commercial Vehicles Heavy Commercial Vehicles:

- OEM
- Aftermarket

South Korea Auto Parts Manufacturing Market Share

The OEM sector accounts for a major market share as the customers are more willing to purchase the auto parts from the original manufacturers as they align with the specifications of that particular vehicle. Some automotive manufacturers may also offer warranties which can enhance their appeal among customers. On the other hand, the aftermarket sector is anticipated to grow at a steady rate as it offers buyers several options on auto parts as well as economical pricing compared to OEMs.

Leading Companies in South Korea Auto Parts Manufacturing Market

The market players are offering innovative products to gain a competitive edge in the market.

- Robert Bosch GmbH

- Denso Corp.

- Continental AG

- ZF Friedrichshafen AG

- Marelli Holdings Co., Ltd.

- Hyundai Motor Co.

- Sumitomo Electric Industries, Ltd.

- Magna International Inc.

- Valeo S.A.

- Aisin Corporation

- Others

1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Asia Pacific Auto Parts Manufacturing Market Overview
5.1 Key Industry Highlights
5.2 Asia Pacific Auto Parts Manufacturing Historical Market (2018-2024)
5.3 Asia Pacific Auto Parts Manufacturing Market Forecast (2025-2034)
6 South Korea Auto Parts Manufacturing Market Overview
6.1 Key Industry Highlights
6.2 South Korea Auto Parts Manufacturing Historical Market (2018-2024)
6.3 South Korea Auto Parts Manufacturing Market Forecast (2025-2034)
7 South Korea Auto Parts Manufacturing Market by Component
7.1 Battery
7.1.1 Historical Trend (2018-2024)
7.1.2 Forecast Trend (2025-2034)
7.2 Cooling System
7.2.1 Historical Trend (2018-2024)
7.2.2 Forecast Trend (2025-2034)
7.2.3 Breakup by Type
7.2.3.1 Compressor
7.2.3.2 Radiator
7.2.3.3 Pump
7.2.3.4 Thermostat
7.3 Underbody Components
7.3.1 Historical Trend (2018-2024)
7.3.2 Forecast Trend (2025-2034)
7.3.3 Breakup by Type
7.3.3.1 Brake Components
7.3.3.2 Exhaust Components
7.4 Engine Components
7.4.1 Historical Trend (2018-2024)
7.4.2 Forecast Trend (2025-2034)
7.4.3 Breakup by Type
7.4.3.1 Starter
7.4.3.2 Engine
7.4.3.3 Pump
7.4.3.4 Alternator
7.5 Automotive Filter
7.5.1 Historical Trend (2018-2024)
7.5.2 Forecast Trend (2025-2034)
7.6 Lighting Components
7.6.1 Historical Trend (2018-2024)
7.6.2 Forecast Trend (2025-2034)
7.7 Electrical Components
7.7.1 Historical Trend (2018-2024)
7.7.2 Forecast Trend (2025-2034)
7.7.3 Breakup by Type
7.7.3.1 Ignition Coil
7.7.3.2 Ignition Switch
7.7.3.3 Spark and Glow Plug
7.8 Chassis System
7.8.1 Historical Trend (2018-2024)
7.8.2 Forecast Trend (2025-2034)
7.9 Transmission and Steering System
7.9.1 Historical Trend (2018-2024)
7.9.2 Forecast Trend (2025-2034)
7.10 Others
8 South Korea Auto Parts Manufacturing Market by Vehicle Type
8.1 Passenger Cars
8.1.1 Historical Trend (2018-2024)
8.1.2 Forecast Trend (2025-2034)
8.2 Light Commercial Vehicles
8.2.1 Historical Trend (2018-2024)
8.2.2 Forecast Trend (2025-2034)
8.3 Heavy Commercial Vehicles
8.3.1 Historical Trend (2018-2024)
8.3.2 Forecast Trend (2025-2034)
9 South Korea Auto Parts Manufacturing Market by Sales Channel
9.1 OEM
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 Aftermarket
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter's Five Forces Analysis
10.2.1 Supplier's Power
10.2.2 Buyer's Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Supplier Selection
12.2 Key Global Players
12.3 Key Regional Players
12.4 Key Player Strategies
12.5 Company Profiles
12.5.1 Robert Bosch GmbH
12.5.1.1 Company Overview
12.5.1.2 Product Portfolio
12.5.1.3 Demographic Reach and Achievements
12.5.1.4 Certifications
12.5.2 Denso Corp.
12.5.2.1 Company Overview
12.5.2.2 Product Portfolio
12.5.2.3 Demographic Reach and Achievements
12.5.2.4 Certifications
12.5.3 Continental AG
12.5.3.1 Company Overview
12.5.3.2 Product Portfolio
12.5.3.3 Demographic Reach and Achievements
12.5.3.4 Certifications
12.5.4 ZF Friedrichshafen AG
12.5.4.1 Company Overview
12.5.4.2 Product Portfolio
12.5.4.3 Demographic Reach and Achievements
12.5.4.4 Certifications
12.5.5 Marelli Holdings Co., Ltd.
12.5.5.1 Company Overview
12.5.5.2 Product Portfolio
12.5.5.3 Demographic Reach and Achievements
12.5.5.4 Certifications
12.5.6 Hyundai Motor Co.
12.5.6.1 Company Overview
12.5.6.2 Product Portfolio
12.5.6.3 Demographic Reach and Achievements
12.5.6.4 Certifications
12.5.7 Sumitomo Electric Industries, Ltd.
12.5.7.1 Company Overview
12.5.7.2 Product Portfolio
12.5.7.3 Demographic Reach and Achievements
12.5.7.4 Certifications
12.5.8 Magna International Inc.
12.5.8.1 Company Overview
12.5.8.2 Product Portfolio
12.5.8.3 Demographic Reach and Achievements
12.5.8.4 Certifications
12.5.9 Valeo S.A.
12.5.9.1 Company Overview
12.5.9.2 Product Portfolio
12.5.9.3 Demographic Reach and Achievements
12.5.9.4 Certifications
12.5.10 Aisin Corporation
12.5.10.1 Company Overview
12.5.10.2 Product Portfolio
12.5.10.3 Demographic Reach and Achievements
12.5.10.4 Certifications
12.5.11 Others

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