Report Overview

South Africa Auto Parts and Accessories Market - Industry Trends & Forecast Report, 2030

South Africa Auto Parts and Accessories Market size was estimated to be worth USD 4.19 billion in 2023. During the forecast period between 2024 and 2030, South Africa Auto Parts and Accessories Market size is projected to grow at a CAGR of 6.65%, reaching a value of USD 6.51 billion by 2030. Major growth factors for South Africa Auto Parts and Accessories Market include rising vehicle ownership and investment in electric vehicles. The automotive manufacturers are continuously innovating their products and are launching lightweight and fuel-efficient auto parts and accessories that align with stringent environmental regulations, which is anticipated to drive the market growth during the forecast period.

Auto Parts and Accessories – Overview

Auto parts, which can range from small parts like fuses and spark plugs to larger components like engines, transmissions, and suspension systems, are the individual elements and systems that comprise an automobile. They are the parts or components intended to be replaced or repaired in case of damage or worn out of the actual parts of any vehicle. Automotive accessories are parts or fittings that are added to an automobile to enhance its appearance, performance, or comfort.

South Africa Auto Parts and Accessories Market

Growth Drivers

Expanding Automobile Production

South Africa is emerging as a leading auto manufacturer, with many domestic and international auto parts and accessories suppliers establishing their businesses in the country. For instance, Batyi Automotive Component Supply, which is the vehicle component manufacturer for the Ford Motor Company, recently opened its new facility in Pretoria, South Africa. The South Africa government is also favoring the sector’s growth through various initiatives, such as the Automotive Production and Development Program. Such private and public initiatives and investments are anticipated to drive South Africa Auto Parts and Accessories Market over the forecast period.

Challenges

Market Saturation due to High Concentration of Industry Players

Within the auto parts and accessories industry, "market saturation" is a state in which a certain geographic area or product sector experiences a high concentration of rivals, creating pressure on prices and fierce rivalry. As South Africa Auto Parts and Accessories Market is crowded with comparable items, it gets harder for businesses to stand out from the competition and take market share in saturated marketplaces. As a result, industry participants may experience slower development and poorer profitability as they strive to differentiate themselves from a crowded field of rivals. Furthermore, as long as existing competitors control the majority of the market, saturation may hinder innovation and reduce the chances for new entrants.

Impact of Escalating Geopolitical Tensions on South Africa Auto Parts and Accessories Market

Intensifying and further spreading of geopolitical tensions among countries across the major regions could hinder the growth of South Africa Auto Parts and Accessories Market in the coming years. Escalating geopolitical conflicts lead to a shortage of auto parts and accessories in the market owing to supply chain disruption. As South Africa imports most of its auto parts and accessories, barriers to the supply chain result in increased costs and delays. The increased cost as a result of supply chain disruption and trade restrictions imposed by governments causes lower profit margins for industry players, and it often leads to consumers bearing the cost. In addition, these conflicts also often lead to shifts in trade relationships because of divestment campaigns against aggressive countries, which may negatively impact South Africa Auto Parts and Accessories Market.

South Africa Auto Parts and Accessories Market

Segmental Coverage

South Africa Auto Parts and Accessories Market – By Type

Based on type, South Africa Auto Parts and Accessories Market is segmented into driveline & powertrain, interiors & exteriors, electronics, seating, lighting, and others. The interiors & exteriors segment accounts for the highest market share of South Africa Auto Parts and Accessories Market by type. An increasing level of disposable income of consumers is fueling the demand for improved visuals and aesthetics of automobiles. Along with improving the automobile's visual appeal, interior & exterior car accessories also elevate their comfort and functionality, contributing to the growth of the segment.

South Africa Auto Parts and Accessories Market – By Product

On the basis of product, South Africa Auto Parts and Accessories Market is segmented into engine parts, electrical parts, drive & transmission steering parts, suspension & braking parts equipment, and others. The suspension & braking parts equipment segment holds the largest share of South Africa Auto Parts and Accessories Market by product, as there is the high frequency of wear and tear in brake pads.

South Africa Auto Parts and Accessories Market – By Application

By application, South Africa Auto Parts and Accessories Market is segmented into OEMs and aftermarket. The OEMs (Original Equipment Manufacturers) segment dominates South Africa Auto Parts and Accessories Market. The robust auto manufacturing sector of South Africa fuels the demand for auto parts and accessories among OEMs for original installations. The South African government is significantly focusing on establishing the country as an automotive manufacturing hub and is attracting major automotive producers worldwide, which is anticipated to propel the demand for auto parts and accessories from the OEM segment.

Competitive Landscape

Major companies in the intensely competitive South Africa Auto Parts and Accessories Market include Ford Motor Company of Southern Africa, Volkswagen South Africa, Toyota South Africa Motors, Nissan South Africa, Cape Auto Spares, AutoZone, Supa Quick, and Pep Stores. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In August 2024 – CFAO South Africa, a mobility solution manufacturer based in South Africa, announced a new automotive body parts manufacturing plant under the joint venture between its subsidiaries, Toyota Tsusho Africa and Ogihara Thailand.

Scope of the Report

By Type

• Driveline & Powertrain

• Interiors & Exteriors

• Electronics

• Seating

• Lighting

• Others

By Product

• Engine Parts

• Electrical Parts

• Drive & Transmission Steering Parts

• Suspension & Braking Parts Equipment

• Others

By Vehicle Type

• Passenger Vehicles

• Commercial Vehicles

• Light Commercial Vehicles (LCVs)

• Sports Utility Vehicles (SUVs)

• Others

By Application

• OEMs

• Aftermarket

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. South Africa Auto Parts and Accessories Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growing Vehicle Fleet
         2. Rising Disposable Incomes
         3. Preference for Aftermarket Parts
      2. Restraints
         1. Economic Fluctuations
         2. Counterfeit Parts
         3. High Unemployment Rate
      3. Opportunities
         1. Focus on Electric Vehicles
         2. Expansion into Rural Areas
         3. Stronger Aftersales Service
      4. Challenges
         1. Price Pressure
         2. Skills Shortage
         3. Currency Fluctuations
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. South Africa Auto Parts and Accessories Market: Marketing Strategies
5. South Africa Auto Parts and Accessories Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share and Forecast
      1. By Type
         1. Driveline & Powertrain
         2. Interiors & Exteriors
         3. Electronics
         4. Seating
         5. Lighting
         6. Others
      2. By Product
         1. Engine Parts
         2. Electrical Parts
         3. Drive & Transmission Steering Parts
         4. Suspension & Braking Parts Equipment
         5. Others
      3. By Vehicle Type
         1. Passenger Vehicles
         2. Commercial Vehicles
         3. Light Commercial Vehicles (LCVs)
         4. Sports Utility Vehicles (SUVs)
         5. Others
      4. By Application
         1. OEMs
         2. Aftermarket
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. South Africa Auto Parts and Accessories Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
7. Impact of Escalating Geopolitical Tensions on South Africa Auto Parts and Accessories Market
8. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. Ford Motor Company of Southern Africa
   2. Volkswagen South Africa
   3. Toyota South Africa Motors
   4. Nissan South Africa
   5. Cape Auto Spares
   6. AutoZone
   7. Supa Quick
   8. Pep Stores
   9. Other Prominent Players
9. Key Strategic Recommendations
10. Research Methodology
    1.    Qualitative Research
       1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.    Breakdown of Primary Research Respondents, By Region
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       South Africa Auto Parts and Accessories Market Segmentation

Figure 2       South Africa Auto Parts and Accessories Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       South Africa Auto Parts and Accessories Market Size, By Value (USD Billion), 2019–2030

Figure 5       South Africa Auto Parts and Accessories Market Share, By Type, By Value, 2019–2030

Figure 6       South Africa Auto Parts and Accessories Market Share, By Product, By Value, 2019–2030

Figure 7       South Africa Auto Parts and Accessories Market Share, By Vehicle Type, By Value, 2019–2030

Figure 8       South Africa Auto Parts and Accessories Market Share, By Application, By Value, 2019–2030

List of Tables

Table 1 South Africa Auto Parts and Accessories Market Size, By Value (USD Billion), 2019–2030

Table 2 South Africa Auto Parts and Accessories Market Share, By Type, By Value, 2019–2030

Table 3 South Africa Auto Parts and Accessories Market Share, By Product, By Value, 2019–2030

Table 4 South Africa Auto Parts and Accessories Market Share, By Vehicle Type, By Value, 2019–2030

Table 5 South Africa Auto Parts and Accessories Market Share, By Application, By Value, 2019–2030

Table 6 Ford Motor Company of Southern Africa Company Overview

Table 7 Ford Motor Company of Southern Africa Financial Overview

Table 8 Volkswagen South Africa Company Overview

Table 9 Volkswagen South Africa Financial Overview

Table 10      Toyota South Africa Motors Company Overview

Table 11      Toyota South Africa Motors Financial Overview

Table 12      Nissan South Africa Company Overview

Table 13      Nissan South Africa Financial Overview

Table 14      Cape Auto Spares Company Overview

Table 15      Cape Auto Spares Financial Overview

Table 16      AutoZone Company Overview

Table 17      AutoZone Financial Overview

Table 18      Supa Quick Company Overview

Table 19      Supa Quick Financial Overview

Table 20      Pep Stores Company Overview

Table 21      Pep Stores Financial Overview