Global Truck Cap Cover Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Truck Cap Cover Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Truck Cap Cover is an enclosed unit usually having windows and a rear hatch, mounted in or over the bed of a pickup truck. Truck Cap Cover is made to seal the back of the truck bed from the elements and protect anything store within. These covers are perfect for transporting materials that need additional height, like furniture or bulky items.

Market Overview:

The latest research study on the global Truck Cap Cover market finds that the global Truck Cap Cover market reached a value of USD 448.45 million in 2022. It’s expected that the market will achieve USD 641.96 million by 2028, exhibiting a CAGR of 6.16% during the forecast period.

1.6 Influence of Regional Conflicts on the Truck Cap Cover Industry

In recent years, due to the combined effects of multiple factors such as de-globalization, rising trade protectionism, and covid-19, the safe and stable operation of the global industrial chain and supply chain has been severely impacted. the conflict between Russia and Ukraine has brought a new blow to the already battered global industrial chain and supply chain, and the world economic recovery is facing more severe and complex challenges and more uncertainties.

As important suppliers of global energy and industrial raw materials, Russia and Ukraine are also important transportation channels connecting Eurasia, and they are important participants in major global industries. the conflict between Russia and Ukraine and the resulting economic sanctions have caused instability. the global industrial chain supply chain brings greater risks.

For truck cap cover industry, this impact can be discussed from two perspectives: short-term and medium-term. in the short term, the impact on truck cap cover industry is highlighted by the interruption of raw material supply, the shortage of parts and logistics, and so on. taking aluminum, one of the key raw materials of truck cap cover, as an example, Russia is the world's second largest producer of primary aluminum. in 2021, Russia's electrolytic aluminum production capacity is about 3.76 million tons, accounting for about 5.6% of global output; the export volume is about 3.48 million tons, with an average monthly output of 3.48 million tons. the export volume is about 290,000 tons, accounting for about 12% of global exports. among them, in 2021, Russia exported 1.601 million tons of electrolytic aluminum to Europe and 312,000 tons to the United States, accounting for 42% and 8% of total exports, respectively. therefore, if western countries impose sanctions on Russia, there will be a significant shortage of aluminum supply in Europe. not only that, it will also cause large fluctuations in global aluminum prices, keep aluminum prices high, and seriously affect the production plan of truck cap cover companies.

Therefore, any regional conflict can have a huge impact on the global industrial chain. for truck cap cover industry, it needs to face the destruction of supply chain security, rising production costs caused by rising energy prices, and import and export tariff policies. changes, etc., which are not conducive to the development of the industry.

Demand for trucks for cargo transportation is driving the Truck Cap Cover industry

With the development of the global economy, consumers have a large demand for various products, and the transportation of goods helps the circulation of goods. Trucking plays an important role in the logistics industry, and trucking enables businesses to move various products to other regions. Almost every sector of the economy relies on trucks to transport goods. For example, trucks first deliver raw materials such as wood and stone from forests and quarries, and then deliver them to manufacturing centers. Once these manufacturers produce finished products, they are transported by truck to their final destination or distribution center.

The installation of the Truck Cap Cover helps to protect the safety of the cargo in transit. Plus, the Truck Cap Cover is great for transporting materials that require extra height, such as furniture or bulky items. Therefore, the Truck Cap Cover is more helpful for the transportation of goods. Currently, there is a high demand for trucks for freight transport as businesses of all sizes worldwide rely on freight transport to transport their products to their respective destinations; this is ultimately driving the growth of the Truck Cap Cover industry.

Growth in the pickup truck industry is driving the growth of the Truck Cap Cover industry

Pickup truck is an important part of the automobile market. It is a model with a sedan head and cab and an open truck compartment. The ability to carry cargo and adapt to poor road surfaces is strong. At present, automobile consumption is diversified in the global market, and pickup trucks are favored by ordinary families for their diverse uses and powerful performance.

In addition, transportation and logistics play a pivotal role in urbanization and industrialization. The commercial vehicle market is fundamental to the development of the global infrastructure, and the increase in various transportation activities has led to an increase in the demand for pickup trucks. At the same time, there are some manufacturers in the market that are developing hybrid pickups and all-electric pickups due to the growing demand for using environmentally friendly means of transportation.

Overall, the development of the pickup truck industry is beneficial to increase the market share of the Truck Cap Cover, which is driving the Truck Cap Cover industry.

Consumer demand for pickup trucks increases

The demand for pickups is proportional to the demand for Truck Cap Covers, as this essential accessory provides security for pickups. At present, consumer demand for light pickups in the global market has been high. Consumers are increasingly buying and using pickup trucks due to their versatility and better comfort. In addition, some consumers like the versatility and seating arrangement offered by pickup trucks, which also motivates consumers to buy pickup trucks. In general, the increase in consumer demand for pickup trucks is more conducive to the development of the Truck Cap Cover industry.

Region Overview:

In 2021, the share of the Truck Cap Cover market in United States stood at 70.46%.

Company Overview:

Truck Hero is one of the major players operating in the Truck Cap Cover market, holding a share of 32.28% in 2022.

Truck Hero designs, manufactures and sells truck accessories. Truck Hero offers a wide range of products including hard and soft truck bed covers, truck covers, bed liners, floor liners, steps, suspension kits, Jeep parts and off-road accessories, and more.

The LEER Group is North America's leading manufacturer of fiberglass and aluminum truck covers and trunk lids. The corporate headquarters of the LEER Group, including LEER Group's engineering, design and tooling resources, is located in Elkhart, Indiana. The LEER Group has hundreds of independent dealers in North America that sell to individuals, small businesses, new car and truck dealers, and fleet operators.

Knapheide has always provided customers with high-quality, ready-to-use shipping solutions. Knapheide is a North American manufacturer of work truck bodies and truck chassis. Knapheide offers the most comprehensive and innovative selection of commercial vehicle solutions, from truck bodies and truck chassis to van interior organization equipment and pickup accessories and more.

Truck Accessories Group Acquires Se-Gi Products

Dec 20, 2021

Truck Accessories Group (TAG) announced that it had acquired Se-Gi Products - a wholesale distributor for RV and automotive windows and replacement parts. TAG is now the largest supplier of truck cap windows in the industry, and the acquisition creates an opportunity for expansion into other markets like the RV industry, along with horse and livestock trailers.

Segmentation Overview:

By type, Fiberglass segment accounted for the largest share of market in 2021.

The typical truck cap cover is usually made of strong lightweight metal or fiberglass, which clings to both sides of the truck compartment and fixes the cover in place by using clips at four corners. Common light metals are aluminum. Aluminum is generally lighter-weight and more expensive than steel, while steel is more heavy duty. Fiberglass caps are generally heavier than aluminum but fit more closely against the truck cab.

In addition, truck cap cover is also made by wood or canvas.

Application Overview:

The market's largest segment by application is the segment Private, with a market share of 67.10% in 2021.

Truck Cap Cover is mainly used for the modification of pickup trucks, which can be the modification of private cars by individuals, or the modification of their fleet vehicles by organizations with large fleets such as trucking service companies.

Key Companies in the global Truck Cap Cover market covered in Chapter 3:

Carryboy
Truck Hero
Unicover
Knapheide
Jason Caps
Jeraco
Ranch Truck Caps
ATC
LEER Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Truck Cap Cover market from 2018 to 2029 is primarily split into:

Fiberglass
Aluminum
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Truck Cap Cover market from 2018 to 2029 covers:

Private
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)