Global Vehicle License Plate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Vehicle License Plate Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A vehicle license plate, also known as a number plate or a registration plate, is a metal or plastic plate attached to a motor vehicle or trailer for official identification purposes. All countries require registration plates for road vehicles.

Market Overview:

The latest research study on the global Vehicle License Plate market finds that the global Vehicle License Plate market reached a value of USD 400.93 million in 2022. It’s expected that the market will achieve USD 577.69 million by 2028, exhibiting a CAGR of 6.28% during the forecast period.

The Impact of COVID-19 on the Industry

The raging COVID-19 has left the global economic environment in depression. The impact of COVID-19 on the Vehicle License Plate industry of vehicles will involve all major links and all entities in the industry chain. The company's management efficiency has declined, commuting has been severely hindered, production plans have been severely hindered, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have declined, and company and employee revenue have declined. The impact on the Vehicle License Plate industry of vehicles depends on the prevention and control effects of COVID-19.

Affected by COVID-19, logistics will be suspended, and the supply of raw materials for Vehicle License Plate will be tight. Production was stagnant, the company's inventory increased, and the production of related enterprises in the severely affected areas was greatly affected. The short-term epidemic has less impact on the supply of raw materials for enterprises, mainly consuming stock materials, and the long-term epidemic will cause incalculable losses. If the epidemic develops further and logistics is always unsatisfactory, small and medium-sized Vehicle License Plate enterprises are likely to be shut down due to insufficient raw material supply, and even large enterprises will face the same problem.

The outbreak of COVID-19 has led to a sharp decline in the number of customers who buy cars. At the same time, governments have issued bans to restrict people from going out to prevent infection. The passenger flow has dropped sharply, and the sales of car license plates will also be significantly affected.

Market Challenges

In terms of perfect vehicle management, intelligent electronic license plates will gradually replace traditional license plates and play an important role in the future.
Intelligent electronic license plate is an emerging non-contact automatic identification technology-RFID technology. Compared with traditional aluminum license plates, electronic license plates based on RFID technology have higher accuracy, are not easily affected by the environment, have no blind spots, and can accurately and comprehensively obtain vehicle status information and road network traffic conditions.
The emergence and promotion of intelligent electronic license plates is a new technical challenge for traditional car license plates.

Region Overview:

Asia-Pacific had the highest growth rate of all regions.

Company Overview:

The top three companies are Hills Numberplates, Utsch AG, SAMAR’T with the revenue market share of 12.80%,7.90%, 7.03% in 2019.

Hills Numberplates was incorporated in 1927 and trades primarily as a manufacturer of number plate components, ready-made registration plates and the latest number plate production systems.

Erich Utsch AG manufactures security plates. The Company offers a range of products and services such as license plate blanks, security license plates, intelligent license tags, illuminated license plate systems, presses and hot stamping equipment, and accessories. Erich Utsch serves customers worldwide.

Segmentation Overview:

Among different product types, Aluminum License Plate segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Passenger Vehicle segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Vehicle License Plate market covered in Chapter 3:

Xialong Traffic
EHA Hoffmann
KUNIMITSU KOGYO
WIHG
Utsch AG
Jepson
GREWE
SPM Groupepe
JH Toennjes
Hills Numberplates
Rosmerta Technologies
Fuwong
Shanghai Fa Yu
SAMAR’T
Bestplate

In Chapter 4 and Chapter 14.2, on the basis of types, the Vehicle License Plate market from 2018 to 2029 is primarily split into:

Aluminum License Plate
Plastic License Plate
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Vehicle License Plate market from 2018 to 2029 covers:

Passenger Vehicles
Commercial Vehicles
Motor Cycle

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)