Vehicle fittings market in Italy

Earlier Report Observations

The market for vehicle fittings in Italy contracted significantly from 2018 to 2022, falling from 231.4 million US dollars to 148.1 million US dollars. This period included a steep drop in 2019, a modest recovery in 2021, and another decline in 2022.

A sharp reversal took place in 2023, with the market surging to 242.1 million US dollars. This growth was propelled by the strong expansion of the global automotive aftermarket, valued at nearly 419 billion dollars, and by rising demand for components used in electric and hybrid vehicles as the industry's electrification accelerated.

In 2024, the market value eased slightly to 236.8 million US dollars. This occurred alongside stagnation in new vehicle sales in Italy, which pressured traditional component suppliers, even though the domestic aftermarket segment reported growth in several component categories during the first half of the year.

Production vehicle fittings in Italy

In value, 2017-2020, M $ US

Italy's vehicle fittings production has declined for the third consecutive year. In 2020, output was valued at 138.9 million US dollars, marking a modest 4.9% drop compared to 2019. Over the period from 2017 to 2020, production decreased by 30.8%, with a compound annual growth rate of 11.5%.

Annual dynamics of production in Italy in value, 2017-2020, M $ US

In kind, 2017-2020, t

The market exhibited significant volatility during these years. Production volumes varied substantially, with the maximum recorded in 2019 at 90 673 tonnes, followed by a sharp decline to 16 073 tonnes in 2020—an 82.3% decrease compared to the previous year. This represents a 5.6-fold difference between the high in 2019 and the low in 2020. The largest annual increase occurred in 2019, reaching 351.4%.

Annual dynamics of production in Italy in kind, 2017-2020, t

Exports vehicle fittings from Italy

Exports in kind, t

Vehicle fittings exports from Italy have declined for the third consecutive year. In 2020, Italy exported 4 773 tonnes, showing a strong decrease of 18.5% compared to the previous year. Over the period from 2017 to 2020, exports decreased by 29.9%, with a compound annual growth rate of 11.2%.

Annual dynamics of product's exports from Italy in kind, 2017-2020, t

From 2017 to 2020, exports of vehicle fittings from Italy were widely dispersed across partner countries. Mexico accounted for 14.4% of exports in kind, Romania for 12.6%, and Germany for 9.9%. Together, these three countries represented only 36.9% of total export flows, indicating a diversified market structure.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Italy in kind, 2017-2020

Exports in value, M $ US

Vehicle fittings exports from Italy have declined for the third consecutive year. In 2020, exports amounted to 49.5 million US dollars, down by 21.7% year-on-year. Between 2017 and 2020, exports decreased by 32.7%, equating to an annualized rate of 12.4%.

Annual dynamics of product's exports from Italy in value, 2017-2020, M $ US

From 2017 to 2020, Germany, Mexico, and France were the largest buyers of vehicle fittings from Italy in value terms. Germany accounted for 14.5% of exports, Mexico for 12.6%, and France for 12.5%. However, their combined contribution was limited to 39.6% of total export value, reflecting a diversified country structure.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Italy in value, 2017-2020

Imports vehicle fittings to Italy

Imports in kind, t

Imported volumes of vehicle fittings in Italy have declined for the third consecutive year. In 2020, imports amounted to 7 241 tonnes, down by 26.8% compared to 2019. Over the period from 2017 to 2020, imports decreased by 47.9%, with a compound annual growth rate of 19.5%.

Annual dynamics of product's imports to Italy in kind, 2017-2020, t

From 2017 to 2020, Poland, Germany, and China were the principal suppliers of vehicle fittings to Italy in kind. Poland accounted for 27.8% of imports, Germany for 24.9%, and China for 21.4%. Together, these three countries jointly accounted for 74.2% of total import volumes.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Italy in kind, 2017-2020

Imports in value, M $ US

Vehicle fittings imports to Italy have declined for the third consecutive year. In 2020, Italy imported 67.0 million US dollars worth of vehicle fittings, down by 23.3% compared to the previous year. Between 2017 and 2020, imports decreased by 50%, equating to an annualized rate of 20.6%.

Annual dynamics of product's imports to Italy in value, 2017-2020, M $ US

From 2017 to 2020, Poland, Germany, and Spain consistently held leading positions in the country structure of imports in value terms. Poland accounted for 30.7% of imports, Germany for 27.2%, and Spain for 8.8%. Together, these three countries jointly accounted for 66.7% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Italy in value, 2017-2020