The leading global automotive suppliers based on revenue 2023
With related revenue of around 56.2 billion euros in its 2023 fiscal year, Bosch was ranked as the world's largest automotive supplier that year. Bosch began to rise up through the ranks in 2014 when the company acquired ZF Friedrichshafen's steering systems. This move helped ZF seal a deal to acquire Michigan-based TRW. In 2016, other corporate actions included Johnson and Johnson's automotive seating business spin-off, which is henceforth known as Adient.
The leading automotive suppliers worldwide
Although motor vehicles are typically sold under a brand name, virtually all automotive manufacturing companies restrict themselves to designing and assembling automotive parts or component groups, most of which are provided by external suppliers. The auto parts that are likely to be manufactured by automotive supplier firms include exteriors, interiors and air conditioning components, electrical and electronic equipment, vehicle chassis, and powertrains.
New challenges emerge for auto suppliers
In light of growing environmental awareness and an increasing desire to connect vehicles to the internet, automotive suppliers are faced with a variety of new challenges. Market trends such as the shift to lighter materials, as well as the trend towards electric vehicles and alternative fuel powertrains are set to shake up the automotive industry. It is expected that automotive suppliers will respond to changing market trends by increased spending on research and development activities.
