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The Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Global Market Report 2023 by The Business Research Company, provides motor vehicle electrical & electronic equipment, steering suspension, & interiors market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Global Market Report 2023, the market size is expected to grow from $455.58 billion in 2022 to $505.69 billion in 2023 at a compound annual growth rate (CAGR) of 11.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The motor vehicle electrical & electronic equipment, steering suspension, & interiors market is expected to grow to $753.74 billion in 2027 at a CAGR of 10.5%.

Advances in technology are expected to be a continued driver of motor vehicle electrical and electronic equipment, steering suspension, and interior market growth in the forecast period. The global transport manufacturing industry has experienced many technological advances in the last decade, and this trend is expected to intensify.

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The motor vehicle electrical & electronic equipment, steering suspension, & interiors market is segmented:
1) By Type: Motor Vehicle Electrical and Electronic Equipment, Motor Vehicle Steering and Suspension Components (except Spring), Motor Vehicle Seating and Interior Trim
2) By Application: Passenger Vehicle, Commercial Vehicle
3) By End Use: OEM, Aftermarket

The demand for electric vehicles is increasing rapidly, and this is expected to disrupt the automotive value chain. Engines of electric vehicles are less complicated than their gasoline counterparts, thus requiring fewer replacement parts over the lifetime of a car. Electrification of cars also means that components such as air-conditioning units, water pumps, brakes, and steering systems will need to be adapted and designed to meet the requirements of electric cars. Since electric vehicles are manufactured with one-third the number of internal combustion engine (ICE) cars’ components, less collaboration will be required between the automaker and parts suppliers. This will decrease vehicle-to-component calibration, thus allowing parts suppliers to develop products with more autonomy. According to an EY report, the electric vehicle transformation in India may have an impact on existing automobile spare part sales because EVs have 20 moving parts while vehicles with internal combustion engines have around 200 spare parts.

The motor vehicle electrical & electronic equipment, steering suspension, & interiors market report table of contents includes:
1. Executive Summary
2. Report Structure
3. Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Characteristics
4. Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Product Analysis
5. Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Supply Chain
…..
20. Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market Competitive Landscape
21. Key Mergers And Acquisitions In The Motor Vehicle Electrical & Electronic Equipment, Steering Suspension, & Interiors Market
22. Market Background: Motor Vehicle Parts Manufacturing Market
23. Recommendations
24. Appendix

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