BANGALORE, India, Oct. 25, 2022 /PRNewswire/ — The Global Automotive Accessories Market is Segmented by Type (Exterior Automotive Accessories, Interior Automotive Accessories), by Application (LCV (Light Commercial Vehicles), HCV (Heavy Commercial Vehicles), Passenger Cars): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Vehicle Parts & Accessories Category.
The global automotive accessories market size is estimated to be worth USD 1,575.6 Billion in 2022 and is forecast to a readjusted size of USD 1,946.3 Billion by 2028 with a CAGR of 3.58{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during the forecast period 2022-2028.
Major factors driving the growth of the automotive accessories market are:
The demand for car customization, particularly among the younger generation, is likely to expand in the near future, leading to significant growth for the worldwide automotive accessories market. Additionally, the market for vehicle accessories is expanding due to consumer preferences for improved performance when driving. Additionally, increased demand for passenger automobiles brought on by an increase in disposable income and an improved standard of living promotes the automotive accessories market expansion.
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TRENDS INFLUENCING THE GROWTH OF THE AUTOMOTIVE ACCESSORIES MARKET:
The increasing sale of passenger cars and pickup trucks is expected to boost the automotive accessories market. The automotive accessories market size for interior automobile accessories is expected to benefit from the expansion of aftermarket e-retailing in developed regions.
Furthermore, The demand for quick-moving auto accessories and vehicle modifications is expected to increase, which will speed up market growth.
China was a major contributor to the market for luxury vehicles because of its rising disposable income and higher standard of living. This element is anticipated to generate profitable prospects for the expansion of the automotive accessories industry.
Additionally, the need for protection from wear and tear, enhance safety, improve performance, and give personalized look is expected to drive the growth of the automotive accessories market. A high-quality vehicle cover will protect your automobile from various environmental threats, including severe weather and harmful solar rays, in addition to protecting it from a lot of dust. Fog lights, LED headlights, and rear windshield wipers are a few additions that enhance your car’s performance and should be seriously examined.
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AUTOMOTIVE ACCESSORIES MARKET SHARE:
A significant portion of the worldwide market for auto accessories will come from the Asia Pacific. due to an increase in passenger vehicle manufacturing and sales in China, South Korea, and India. China is a well-known producer of aftermarket goods like car accessories, which are sold for less money. In addition, there are established supply chains for the automotive aftermarket in various nations in the Asia-Pacific region.
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Key Companies:
- Robert Bosch
- Delphi Automotive
- Continental AG
- Denso Corporation
- Magna International
- Aisin Seiki
- Tenneco
- Honda Motor
- Keystone Automotive Industries
- Nissan
- Citic Dicastal
- Lkq Taiwan Holding
- Ford Motor
- C.C. Parts
- S. Auto Parts
- Lloyd Mats
- Covercraft
- Car Mate
- Classic Soft Trim
- Star Automotive Accessories
- Hyundai Motor Company
- Roush Performance
- JCA Fleet Services
- Renault
- Pioneer
- Garmin
- Pecca Group
- O’Reilly Auto Parts
- I Motors
- Momo
- Federal Mogul Corp
- Oakmore
- Lund International
- Truck Covers
- Pep Boys
- Thule Group.
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SIMILAR REPORTS:
– Interior Cr Accessories market size is estimated to be worth USD 212270 Million in 2022 and is forecast to a readjusted size of USD 260940 Million by 2028 with a CAGR of 3.5{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during the review period.
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– Automotive Electronic Control Unit (ECU) market size is projected to reach USD 68330 Million by 2027, from USD 44560 Million in 2020, at a CAGR of 5.8{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during 2021-2027.
– Automotive Connectors market size is estimated to be worth USD 20540 Million in 2022 and is forecast to a readjusted size of USD 29130 Million by 2028 with a CAGR of 6.0{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during the review period.
– Automotive Headliner market size is estimated to be worth USD 26040 million in 2022 and is forecast to a readjusted size of USD 33330 million by 2028 with a CAGR of 4.2{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during the review period.
– Automotive software market was valued at USD 18.5 Billion in 2019, and is projected to reach USD 43.5 Billion by 2027, registering a CAGR of 14.5{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} from 2020 to 2027.
– Automotive telematics market size was valued at USD 50.4 Billion in 2018, and is projected to reach USD 320.6 Billion by 2026, registering a CAGR of 26.8{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} from 2019 to 2026.
– Bluetooth in Automotive market size is projected to reach USD 128880 Million by 2028, from USD 37220 Million in 2021, at a CAGR of 19.3{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during 2022-2028.
– Automotive Head-up Display (HUD) market size is projected to reach USD 1626.6 Million by 2027, from USD 817.1 Million in 2020, at a CAGR of 10.2{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during the forecast period 2021-2027.
– Head-Up Display market size is projected to reach USD 3291.9 Million by 2027, from USD 1286.4 Million in 2020 at a Compound Annual Growth Rate (CAGR) of 17.0{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during 2021-2027.
– Automotive Shock Absorber market was valued at USD 11270 Million in 2020 and it is expected to reach USD 12600 Million by the end of 2027, growing at a CAGR of 1.6{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during 2021-2027.
– Automotive Augmented Reality market size is projected to reach USD 5726.6 Million by 2028, from USD 1785.8 Million in 2021, at a CAGR of 17.6{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during 2022-2028.
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– Automotive sensor market size is expected to reach USD 34.65 Billion by 2027 from USD 16.40 Billion in 2019, growing at CAGR of 10.2{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} from 2020 to 2027.
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– E-bikes market was valued at USD 40.3 Billion in 2019, and is projected to reach USD 118.6 Billion by 2030, registering a CAGR of 10.5{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} from 2020 to 2030.
– Micromobility market was valued at USD 40.19 Billion in 2020, and is projected to reach USD 195.42 Billion by 2030, registering a CAGR of 17.4{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} from 2021 to 2030.
– Ride Sharing market size is projected to reach USD 126760 Million by 2028, from USD 38160 Million in 2021, at a CAGR of 19.8{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during 2022-2028.
– Bike and Scooter Rental market size is projected to reach USD 4740.8 Million by 2027, from USD 2115.4 Million in 2020, at a CAGR of 11.7{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during 2021-2027.
– Electric Scooter and Motorcycle market size is estimated to be worth USD 7885 Million in 2022 and is forecast to a readjusted size of USD 12170 Million by 2028 with a CAGR of 7.5{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during the review period.
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– Automotive Motor market size is estimated to be worth USD 53900 million in 2022 and is forecast to a readjusted size of USD 63250 million by 2028 with a CAGR of 2.7{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during the review period.
– Automotive Plastics market size is estimated to be worth USD 42530 million in 2022 and is forecast to a readjusted size of USD 71060 million by 2028 with a CAGR of 8.9{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during the review period.
– Automotive Sensors market is estimated to be worth USD 25.2 billion in 2022 and is forecast to a readjusted size of USD 38.4 Billion by 2028 with a CAGR of 7.27{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} during the forecast period 2022-2028.
– The global automotive software market was valued at USD 18.5 billion in 2019, and is projected to reach USD 43.5 billion by 2027, registering a CAGR of 14.5{da793fdcd3fe679df000853cab620e3a76d4f41f7c86540cc967171bbb315377} from 2020 to 2027.
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