Exterior Car Accessories Market, By Product Type (License Plate Frames, Body Kits, LED Lights, Graphics & Reflectors, Racks, Exhaust Mufflers, Alloy Wheels, Covers, Chrome Accessories, Window Films), By Vehicle Type (Mid-Size PC, Premium PC, Compact PC, Luxury PC, Pickup Trucks), By Channel Type (OEM and Aftermarket), By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Exterior car accessories are comprised of products related to automotive products that enhance and appearance of the automobile. These parts include rear and front mudguard, spoiler, stainless steel car bumper guard, plastic car door guard, tire inflators, decals and stickers, wraps, etc. The global exterior car accessories market focuses on five regions namely North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The global exterior car accessories market is estimated to account for US$ 524,761.2 Mn in terms of value by the end of 2030.
Market Dynamics
Major shift in automobile industry is expected to drive growth of the global exterior car accessories market during the forecast period. Automobile Industry is shifting from internal combustion engine vehicle to the electric power vehicle, this shift will increase the demand of exterior car accessories which are compatible with electric vehicles such as electric vehicle sticker, home charger and others. Furthermore, electrical car vehicle market is expected to grow in the near future, for instance, according to Coherent Market Insights’ analysis, global electric vehicle market is registered CAGR of 7.9% during the forecast period 2021-2030. Thus, Major change in automobile industry from IC engine powered vehicles to the electric power vehicle is expected to drive the global Exterior car accessories market in the forecast period.
Furthermore, increasing demand of customized vehicles in the young population can present lucrative growth opportunities to the exterior car accessories market. Vehicle owners in the range of 18 to 30 are inclined towards spending money on car accessories such as alloy wheels, high power LED lights, different color LED lights and others. Thus, increasing demand of customized vehicles in the young population can present lucrative growth opportunities to the exterior car accessories market.
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