Exterior Car Accessories Market to Grow with Growing Popularity of Vehicle Customization
#3200,SEATTLE, WASHINGTION , UNITED STATES, December 17, 2021 /EINPresswire.com/ — United States/WA: The global exterior car accessories market was valued at US$ 175236.9 Mn in 2019 and is forecast to reach a value of US$ 314,392.8 Mn by 2027 at a CAGR of 7.6% between 2020 and 2027.
Exterior car accessories are utilized to improve the vehicle’s overall appearance. This may include, among other things, a plastic car door guard, rear mudguard, front mudguard, bumper guard, stickers, decals, wraps, tire inflators, and a spoiler. Other key exterior pieces of a car are engine splash shields, bonnets, fenders, and bumpers. Outside automobile accessories are modifications to a vehicle’s exterior that improve its overall appearance and functionality. Exhaust nozzles, door visors, mudflaps, led DRL lights, wipers, bumper reflectors, and other car external accessories are used to modify and/or customize the vehicle. As a result of the growing popularity of vehicle customization, the need for exterior car accessories is developing globally.
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The exterior car accessories market is expected to exhibit a CAGR of XX % during the forecast period owing to the increasing demand for car accessories and availability of car accessories on online platforms. For instance, in April 2021, Carluxxe Outfitters announced the launch of their new website to bring accessories closer to car buffs. Carluxxe Outfitters seeks to provide the best possible shopping experience to people looking to give their cars and trucks the best form of treatment to meet their vehicle needs.
Among regions, North America and Asia Pacific are expected to witness robust growth in the exterior car accessories market due to rapidly growing automotive industry, increasing automotive fleet, and availability of car accessories on e-commerce platforms. For instance, according to the International Trade Administration, Mexico is the sixth-largest passenger vehicle manufacturer, producing around 3 million vehicles annually. Moreover, over 89% of vehicles produced in Mexico are exported, with 80% destined for the United States.
Moreover, in March 2021, Amazon launched a sale on cars and bike accessories, offering up to 75% off on car mats, tyre inflators, jumper cables, and much more.
The Study Include Key Companies:
◙ Oakmore Pvt Ltd,
◙ Car Mate Manufacturing Co. Ltd.,
◙ Lund International, Inc.,
◙ Truck Covers Usa Llc,
◙ Lloyd Mats, Pep
◙ Boys, Thule Group,
◙ U.S. Auto Parts Network, Inc.,
◙ Covercraft Industries Llc,
◙ Mont Blac Industry
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Key Market Drivers:-
➡ Increasing automotive fleet and rising expenditure on exterior accessories is expected to fuel the growth of the exterior car accessories market during the forecast period. Consumers spend on various exterior car accessories to enhance the overall appearance of the vehicle. According to India Brand Equity Foundation (IBEF), in 2020, India was the fifth-largest auto market, with ~3.49 million units combined sold in the passenger and commercial vehicles categories.
➡ Moreover, increasing demand of customized vehicles and introduction of novel exterior car accessories is expected to drive growth of the exterior car accessories market. For instance, in September 2021, Hyundai Motor India announced the launch of a wide range of Hyundai i20 N Line accessories. The accessories for the i20 N Line will be made available in two packages – Athletic Package and Flamboyant Package.
Purchasing the Report: Know Why:-
¤ The Exterior Car Accessories market study is a detailed examination of research material tools and downstream purchasing enhancements.
¤ This research is to characterize and categorize the market in order to provide the reader with a thorough overview.
¤ Elaborate client needs reviews, obstacle analysis, and opportunity assessment are also covered.
¤ The report polls also generate the most accurate forecasts for worldwide Exterior Car Accessories market volume and value estimation.
➡ Major companies in the market are focused on product development, in order to gain a competitive edge in the market. For instance, in July 2018, Thule Group introduced its next-generation of roof Thule Evo System.
➡ Key market players are involved in merger and acquisition activities, in order to strengthen market position. For instance, in August 2018, Covercraft Industries acquired Marathon Seat Covers, a manufacturer of premium seat covers.
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