Car Exterior Accessories Market
Automotive Exterior Accessories Market Forecast: The Global Automotive Exterior Accessories Market Expected To Be $ 314,392.8 Million By 2027
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Car exterior accessories are used to improve the overall appearance of the vehicle. This may include plastic car door protector, rear fender, front fender, bumper protector, stickers, decals, wraps, tire inflators and spoiler, among others. . Engine splash guards, hoods, fenders and bumpers are other important exterior parts of the automobile. Car exterior accessories are additions to the exterior of a vehicle to improve its overall appearance and functionality. Car exterior accessories such as exhaust nozzles, car door bumpers, car fender, LED DRL lights, car windshield wipers, bumper reflectors and many more ‘others are used to upgrade and / or customize the vehicle. Therefore, with the increasing popularity of vehicle customization, the demand for automotive exterior accessories is also increasing all over the world.
𝗳𝗼𝗿 𝗺𝗼𝗿𝗲 𝗱𝗲𝘁𝗮𝗶𝗹 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻 𝗮𝗯𝗼𝘂𝘁 𝗘𝘅𝘁𝗲𝗿𝗶𝗼𝗿 𝗖𝗮𝗿 𝗔𝗰𝗰𝗲𝘀𝘀𝗼𝗿𝗶𝗲𝘀 𝗠𝗮𝗿𝗸𝗲𝘁
𝐨𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐚𝐜𝐜𝐞𝐬𝐬𝐨𝐫𝐢𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 are Pep Boys, Covercraft Industries, LLC, O’Reilly Auto Parts, HI Motors CAR MATE MFG. CO., LTD, Classic Soft Trim, Star Automotive Accessories, Momo Srl., Lund International, Inc., Mont Blanc Industri AB, Oakmore Pty Ltd., F.LLI MENABÒ SRL, HELLA KGaA Hueck & Co., Thule Group, States -Unis Auto Parts Network, Inc. and Truck Covers USA LLC, among others.
Main market drivers:
Rising vehicle fleet and increasing spending on exterior accessories are expected to fuel the growth of the automotive exterior accessories market during the forecast period. Consumers spend on various exterior car accessories to improve the overall appearance of the vehicle. According to India Brand Equity Foundation (IBEF), in 2020 India was the fifth largest automotive market, with around 3.49 million units sold in passenger and utility vehicle categories.
In addition, the growing demand for custom vehicles and the introduction of new exterior auto accessories are expected to drive the growth of the exterior auto accessories market. For example, in September 2021, Hyundai Motor India announced the launch of a wide range of Hyundai i20 N Line accessories. The accessories of the i20 N line will be available in two packs – Athletic Pack and Flamboyant Pack.
COVID-19 impact analysis:
The pandemic has had a rapid and severe impact on the globally integrated automotive industry. Symptoms include an interruption in exports of Chinese parts, closure of assembly factories, and large-scale manufacturing disruptions. This puts intense pressure on the industry. The pandemic has had a potential impact on the light vehicle aftermarket, encompassing sales of parts and accessories. The auto and mobility industries have certainly been among the hardest hit during the COVID-19 pandemic. However, the industry is recovering faster and is expected to positively impact the growth of the auto accessories market as the demand for auto accessories is now increasing at a rapid rate.
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Key points to remember:
The automotive exterior accessories market is expected to grow at a CAGR of XX% during the forecast period owing to the increasing demand for automotive accessories and the availability of automotive accessories on online platforms. For example, in April 2021, Carluxxe Outfitters announced the launch of their new website to bring accessories closer to car buffs. Carluxxe Outfitters strives to provide the best possible shopping experience for people who want to give their cars and trucks the best form of processing to meet their vehicle needs.
Among the regions, North America and Asia-Pacific are expected to experience robust growth in the automotive exterior accessories market due to the rapid growth of the automotive industry, increasing vehicle fleet and availability of auto accessories on e-commerce platforms. For example, according to the International Trade Administration, Mexico is the sixth largest manufacturer of passenger vehicles, producing around 3 million vehicles per year. In addition, more than 89% of vehicles produced in Mexico are exported, 80% of which are destined for the United States.
Additionally, in March 2021, Amazon launched a sale on car and bicycle accessories, offering up to 75% off car mats, tire inflators, jumper cables and more.
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