Germany-based Robert Bosch led the world’s auto parts sales in 2022, followed by Denso Corporation and ZF Friedrichshafen AG.
Bosch primarily produces powertrain solutions, chassis system control, electric drives, automotive multimedia, electronics, aftermarket products and steering.
This was followed by Magna International, Contemporary Amperex Technology Co., Hyundai Mobis, Aisin Corporation, Forvia Group, Continental Corporation and Lear Corporation.
Despite high barriers to entry in many product areas, as well as the highly capital-intensive nature of the global Tier 1 automotive supply industry, competition is fierce and intensifying from many different sources.
For example, for most of Magna International’s Operating Groups, competition comes primarily from automakers and other «traditional» Tier 1 Suppliers, including those in which one or more automakers may have direct or indirect investments.
However, with the growing importance of electrification and electronics in the automotive value chain, several established electronics and chip and semiconductor manufacturing companies have entered or expanded their presence in the automotive industry, becoming direct competitors to Tier 1 suppliers.
Robert Bosch
This company is a leading global supplier of technology and services.
At the end of 2022, Robert Bosch employed approximately 421,300 people worldwide.
The company generated sales of 88.2 billion euros in 2022. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy & Building Technology.
As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0 and connected mobility.
Electrification
In global competition, disruptive technology innovators are changing the competitive landscape of the automotive industry by developing high-value product and service offerings, especially in areas related to vehicle electrification, vehicle autonomy, new mobility and connectivity.
As a consequence of these trends, Magna International refers that some suppliers are seeking to improve their competitive positioning through strategic partnerships, joint ventures or collaborations with technology and software companies.