Hyundai Mobis Market to Reach USD 65 Billion with 2.36% CAGR by 2032 | Denso, Bosch

hyundai mobis Market Size was estimated at 52.69 (USD Billion) in 2023. The Hyundai Mobis Market Industry is expected to grow from 53.94(USD Billion) in 2024 to 65.0 (USD Billion) by 2032. The Hyundai Mobis Market CAGR (growth rate) is expected to be around 2.36% during the forecast period (2024 - 2032).

Hyundai Mobis, the parts and service arm of the Hyundai Motor Group, is a major player in the global automotive components industry. With a robust portfolio spanning advanced driver assistance systems (ADAS), electrification, lighting, chassis, and infotainment systems, Hyundai Mobis serves not only Hyundai and Kia vehicles but increasingly a global client base of automakers. As the automotive landscape undergoes profound transformation driven by electrification, automation, connectivity, and sustainability, Hyundai Mobis is strategically positioning itself at the forefront of these shifts.

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The Hyundai Mobis market is characterized by technological innovation, significant R&D investment, and an expanding footprint across Asia, Europe, and North America. The company’s emphasis on modularization, smart mobility, and software-driven solutions is helping it evolve beyond a traditional auto parts supplier into a mobility technology leader.

Market Trends Shaping Hyundai Mobis

Accelerated Focus on Electrification

Hyundai Mobis is heavily investing in electric vehicle (EV) technologies, including power electronics, battery systems, and electric drive components. With the global EV market expanding rapidly, the company has developed integrated modules like electric drive systems (e-axles), battery management systems (BMS), and on-board chargers. Its components support the Hyundai Group's flagship EV platforms, including the E-GMP (Electric Global Modular Platform) used in vehicles like the Hyundai IONIQ 5 and Kia EV6.

ADAS and Autonomous Driving Modules

As safety and autonomy become central to modern vehicles, Hyundai Mobis is advancing its ADAS offerings. It develops radars, LiDAR systems, cameras, and control units for features such as lane keeping assist, adaptive cruise control, parking assistance, and highway driving assist. The company is also working on higher-level autonomous systems and developing sensor fusion platforms to enable smoother and safer automated driving experiences.

Modular and Smart Chassis Systems

The company is developing modular chassis platforms designed to integrate key systems—such as braking, suspension, and steering—into a single functional unit. These solutions simplify vehicle architecture and increase manufacturing efficiency. Smart suspension systems and steer-by-wire technologies are being designed to meet the needs of next-generation vehicles.

Advanced Lighting and UX Technology

Hyundai Mobis is innovating in lighting systems that serve both functional and aesthetic purposes. It is developing adaptive lighting technologies that improve night driving visibility and safety, as well as dynamic external lighting used in EVs to communicate with pedestrians or other vehicles. Internally, the company is working on immersive driver experiences with augmented reality HUDs, interactive cockpit modules, and biometric recognition.

Software and Connected Services

In response to the increasing digitalization of the vehicle cabin, Hyundai Mobis is ramping up investment in software development. It is building software-defined vehicle (SDV) architectures that enable real-time updates, cloud connectivity, and personalized user interfaces. The company is also collaborating with partners to integrate vehicle-to-everything (V2X) technologies, critical for connected and autonomous driving.

Key Companies in the hyundai mobis Market Include:

• Hyundai Mobis
• Denso
• Bosch
• Continental
• ZF
• Magna
• Aisin
• Valeo
• Faurecia
• Lear
• BorgWarner
• Tenneco
• TRW Automotive
• Delphi Technologies
• Visteon

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Regional Market Analysis

Asia-Pacific

As a South Korean company, Hyundai Mobis has its strongest presence in the Asia-Pacific region. South Korea remains its R&D and manufacturing hub, but it also has major operations in China, India, and Southeast Asia. Its proximity to Hyundai and Kia’s manufacturing centers gives it a strategic advantage in supporting the region’s high-volume vehicle production. China represents a key focus area, with local partnerships and R&D efforts aimed at EV and autonomous components tailored for the Chinese market.

North America

The North American market is critical for Hyundai Mobis, particularly in light of Hyundai and Kia’s strong sales in the U.S. The company has invested in production facilities in Alabama, Georgia, and Mexico, producing key components for regional vehicle assembly plants. With U.S. policy favoring domestic EV manufacturing and supply chain localization, Hyundai Mobis is expected to play a larger role in supporting EV production in North America.

Europe

Europe’s focus on electrification and sustainability aligns well with Hyundai Mobis’ core strategy. The company is expanding its presence in the region by supplying parts for Hyundai and Kia’s European operations and increasingly targeting European OEMs with its advanced modules. The stringent regulatory environment around emissions and safety has also prompted Hyundai Mobis to prioritize ADAS and green technologies for this market.

Middle East, Africa, and Latin America

While smaller in scale, these regions offer long-term growth potential. Hyundai Mobis supports aftersales and parts supply chains in emerging markets where Hyundai and Kia have a growing presence. The company is exploring opportunities to localize supply chains and provide modular assembly solutions in markets with rising vehicle ownership and infrastructure development.

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Recent Strategic Developments

Hyundai Mobis is undergoing a strategic transformation that includes restructuring its business for future mobility. It has recently announced large-scale investments in hydrogen fuel cell technology, EV parts plants, and software development hubs.

In 2023, Hyundai Mobis began construction of new production lines dedicated to core EV components, such as drive motors and inverters, aiming to meet rising global demand. The company also signed agreements with global semiconductor companies to secure supplies for its ADAS and infotainment systems.

Hyundai Mobis is expanding global partnerships with universities, tech startups, and mobility firms to fast-track innovation in autonomous systems, digital cockpits, and AI-based driver monitoring.

The company has also introduced futuristic concept technologies at global auto shows, including foldable steering wheels, rotating infotainment displays, and modular vehicle platforms for urban mobility, signaling its ambition to be a front-runner in next-gen mobility solutions.

Competitive Landscape

Hyundai Mobis competes with other global automotive suppliers such as Bosch, Continental, ZF Friedrichshafen, Denso, and Magna. What differentiates Hyundai Mobis is its integrated role within the Hyundai Motor Group and its capability to deliver vertically integrated solutions from software to hardware across electric, connected, and autonomous mobility domains.

Its vertical integration enables cost efficiency, seamless module compatibility, and a faster response to market changes. However, to diversify revenue, Hyundai Mobis is working to expand its client base beyond Hyundai-Kia to include other global OEMs.

Future Outlook

The Hyundai Mobis market is expected to grow steadily over the next decade, driven by global megatrends in EV adoption, smart mobility, and connected technologies. The company’s aggressive investment in R&D, focus on innovation, and integration within Hyundai Motor Group position it well to benefit from the automotive industry's transition.

With EV adoption forecasted to account for over 50% of new car sales in key markets by 2030, and autonomous and connected technologies becoming standard in future vehicles, Hyundai Mobis is likely to emerge as a central supplier and innovator.

In conclusion, Hyundai Mobis is well-positioned in a rapidly evolving global automotive landscape. By leveraging its expertise in modules, electronics, and intelligent mobility solutions, the company is not only supporting Hyundai Motor Group’s electrification goals but also carving out a broader role as a global technology provider for the next generation of vehicles.

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