Whether you’re an experienced mechanic or a novice, auto parts are crucial to keeping your vehicle running. From simple items like brakes to more complex parts like suspension systems, auto parts can keep your vehicle in top condition. Here are a few tips to help you with your next repair. Read on to learn more about the global auto parts market and how to save money while performing auto repairs. Let’s begin! Listed below are some of the most popular automotive parts and their applications.
The auto parts industry is a global business. The number of suppliers and the number of vehicles has increased dramatically over the last decade. Its employment levels grew from about 920,000 in 2000 to just over 720,000 in 2006, according to the U.S. Department of Labor’s Bureau of Labor Statistics. And the number of participating companies has decreased. By 2010, analysts predict that fewer than 100 major suppliers will remain, which will drive the industry to find cheaper ways to produce and distribute components.
The auto parts industry has been in decline for decades. According to the U.S. Bureau of Labor Statistics, the number of workers in this sector dropped from 920,000 in 2000 to 721,900 in 2006. Despite the growth of the industry, the number of participating companies has remained flat. Until 2010, only about 100 major suppliers will remain in the industry, and many of those companies will have migrated to other industries. But even with these changes, the auto parts industry continues to grow.
While most auto parts are produced and distributed by manufacturers, a number of networks make up the industry. The original equipment parts (OEM) are meant for assembly on vehicles, while the aftermarket ones are manufactured to replace worn out OE parts. The third type of auto part is the aftermarket, which is made for use after the original sale of the car. The fourth type of auto part is the accessory. The latter is sold after the initial sale.
The auto parts industry is a worldwide industry. OE (original equipment) parts are made for vehicles currently in production. Aftermarket parts are built to replace OE parts that are damaged or no longer available. Various specialized networks are involved in the distribution of aftermarket parts. Lastly, aftermarket parts are sold as accessories after the sale of a vehicle. The auto parts market is global. Most OE manufacturers have a service network around the world.
OE and aftermarket parts are made to fit on a vehicle. While they’re designed for assembly on a vehicle in production, the aftermarket replacement parts are used to fix a vehicle that is already in production. However, there’s also a third type of auto part: the aftermarket. OE and aftermarket parts are interchangeable, but aftermarket parts are manufactured to replace damaged OE parts. These vehicles can’t run without the aftermarket auto parts.