Global Exterior Car Accessories Market Will Amass reach Two,53,174.8 thousand units by 2024
In a fresh publication titled “Exterior Car Accessories Market: Global Industry Analysis and Forecast 2016-2024”, Persistence Market Research presents a forecast for the global exterior car accessories market for the period 2016–2024. The global exterior car accessories market is estimated to be valued at US$ 142.24 Bn in 2016, up Five.3% Y-o-Y. In terms of volume, the global exterior car accessories market is estimated to stand at 1,832,747.Three thousand units by the end of two thousand sixteen and is expected to reach Two,53,174.8 thousand units by 2024, expanding at a CAGR of Four.0% over the forecast period.
Market drivers and restraints
An enlargening inclination towards vehicle customizations especially among the junior generation, growing sales of pickup trucks in developed markets, and a rising request for spectacle enhancing exterior car accessories are the main factors likely to boost the global market for exterior car accessories over the forecast period. The growth of the automotive sector in the BRIC nations is expected to further fuel market growth.
However, availability of counterfeit exterior and superior quality car accessories imported from Asian continents; and cost competitiveness owing to a gigantic fragmentation of the exterior car accessories market are factors anticipated to hamper the growth of the global exterior car accessories market over the forecast period. Also, regulations related to modification of vehicle exteriors in some regions is also anticipated to restrict growth of the global exterior car accessories market.
The global exterior car accessories market is categorized by product type (Covers, Racks, Assets Kits, LED Lights, Alloy Wheels, Chrome Accessories, Harass Mufflers, Window Films, License Plate Frames, Graphics & Reflectors); by vehicle type (Passenger Cars, Pickup Trucks); by distribution channel (OEM, Aftermarket); and by region (North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa). According to Persistence Market Research, the figure kits product type segment is expected to register a moderate CAGR in terms of value over the forecast period. In terms of volume, the figure kits segment is estimated to stand at 99,647.1 thousand units by the end of two thousand sixteen and is expected to reach 131,232.Five thousand units by 2024, expanding at a CAGR of Three.5% over the forecast period.
The passenger cars vehicle type segment is estimated to account for a value share of 76.3% in two thousand sixteen while the pickup trucks segment is likely to account for a value share of 23.7% in 2016.
The OEM distribution channel segment is expected to reach a valuation of US$ 70.Ten Bn by two thousand twenty four while the aftermarket segment is estimated to be valued at US$ 182.97 Bn by 2024.
Among regions, Europe is expected to maintain its dominance in terms of market value in the global exterior car accessories market during the forecast period. The Europe exterior car accessories market is estimated to be valued at US$ 56.38 Bn in two thousand sixteen and is expected to reach US$ 102.Nineteen Bn by 2024, expanding at a CAGR of 7.7% over the forecast period. In terms of volume, the North America exterior car accessories market is estimated to be pegged at 474,292.8 thousand units in two thousand sixteen and is expected to reach 608,134.8 thousand units by 2024, expanding at a CAGR of Trio.2% over the forecast period.
Thule Group, Pep Boys, Oakmore Pty Ltd., O’Reilly Auto Parts, U.S. Auto Parts Network, Inc., HELLA KGaA Hueck & Co., CAR MATE MFG CO. LTD., Covercraft Industries, LLC, Classic Soft Trim, Lund International, Inc., Truck Covers USA LLC, Mont Blac Industri AB, F.LLI MENABÒ SRL, H.I. Motors, Starlet Automotive Accessories, Momo Srl, and Lloyd Mats are some of the leading players operating in the global exterior car accessories market. These players are focusing on a vertical integration of their supply chain and are targeting fresh markets with strategic mergers and acquisitions.
Persistence Market Research (PMR) is a third-platform research rock hard. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal spectacle.
To support companies in overcoming sophisticated business challenges, we go after a multi-disciplinary treatment. At PMR, we unite various data flows from multi-dimensional sources. By deploying real-time data collection, big data, and customer practice analytics, we produce business intelligence for organizations of all sizes.
Global Exterior Car Accessories Market Will Amass reach Two, 53, one hundred seventy four
Global Exterior Car Accessories Market Will Amass reach Two,53,174.8 thousand units by 2024
In a fresh publication titled “Exterior Car Accessories Market: Global Industry Analysis and Forecast 2016-2024”, Persistence Market Research presents a forecast for the global exterior car accessories market for the period 2016–2024. The global exterior car accessories market is estimated to be valued at US$ 142.24 Bn in 2016, up Five.3% Y-o-Y. In terms of volume, the global exterior car accessories market is estimated to stand at 1,832,747.Three thousand units by the end of two thousand sixteen and is expected to reach Two,53,174.8 thousand units by 2024, expanding at a CAGR of Four.0% over the forecast period.
Market drivers and restraints
An enlargening inclination towards vehicle customizations especially among the junior generation, growing sales of pickup trucks in developed markets, and a rising request for spectacle enhancing exterior car accessories are the main factors likely to boost the global market for exterior car accessories over the forecast period. The growth of the automotive sector in the BRIC nations is expected to further fuel market growth.
However, availability of counterfeit exterior and superior quality car accessories imported from Asian continents; and cost competitiveness owing to a hefty fragmentation of the exterior car accessories market are factors anticipated to hamper the growth of the global exterior car accessories market over the forecast period. Also, regulations related to modification of vehicle exteriors in some regions is also anticipated to restrict growth of the global exterior car accessories market.
The global exterior car accessories market is categorized by product type (Covers, Racks, Assets Kits, LED Lights, Alloy Wheels, Chrome Accessories, Harass Mufflers, Window Films, License Plate Frames, Graphics & Reflectors); by vehicle type (Passenger Cars, Pickup Trucks); by distribution channel (OEM, Aftermarket); and by region (North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa). According to Persistence Market Research, the assets kits product type segment is expected to register a moderate CAGR in terms of value over the forecast period. In terms of volume, the figure kits segment is estimated to stand at 99,647.1 thousand units by the end of two thousand sixteen and is expected to reach 131,232.Five thousand units by 2024, expanding at a CAGR of Trio.5% over the forecast period.
The passenger cars vehicle type segment is estimated to account for a value share of 76.3% in two thousand sixteen while the pickup trucks segment is likely to account for a value share of 23.7% in 2016.
The OEM distribution channel segment is expected to reach a valuation of US$ 70.Ten Bn by two thousand twenty four while the aftermarket segment is estimated to be valued at US$ 182.97 Bn by 2024.
Among regions, Europe is expected to maintain its dominance in terms of market value in the global exterior car accessories market during the forecast period. The Europe exterior car accessories market is estimated to be valued at US$ 56.38 Bn in two thousand sixteen and is expected to reach US$ 102.Nineteen Bn by 2024, expanding at a CAGR of 7.7% over the forecast period. In terms of volume, the North America exterior car accessories market is estimated to be pegged at 474,292.8 thousand units in two thousand sixteen and is expected to reach 608,134.8 thousand units by 2024, expanding at a CAGR of Three.2% over the forecast period.
Thule Group, Pep Boys, Oakmore Pty Ltd., O’Reilly Auto Parts, U.S. Auto Parts Network, Inc., HELLA KGaA Hueck & Co., CAR MATE MFG CO. LTD., Covercraft Industries, LLC, Classic Soft Trim, Lund International, Inc., Truck Covers USA LLC, Mont Blac Industri AB, F.LLI MENABÒ SRL, H.I. Motors, Starlet Automotive Accessories, Momo Srl, and Lloyd Mats are some of the leading players operating in the global exterior car accessories market. These players are focusing on a vertical integration of their supply chain and are targeting fresh markets with strategic mergers and acquisitions.
Persistence Market Research (PMR) is a third-platform research rock-hard. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal spectacle.
To support companies in overcoming sophisticated business challenges, we go after a multi-disciplinary treatment. At PMR, we unite various data rivulets from multi-dimensional sources. By deploying real-time data collection, big data, and customer practice analytics, we supply business intelligence for organizations of all sizes.