The worldwide decorative car accessories market is supposed to extend from US$ 240337.9 million of every 2022 and is projected to arrive at US$ 422356.3 million by 2032, displaying a CAGR of 5.8% through 2032.
The decorative car accessories market has become quite established due to increasing popularity of car customisation among consumers. Focus on enhancing car aesthetics and improving comfort are the key factors that have led to renewed interest in decorative car accessories. Over the years, the decorative car accessories market has grown in terms of product range & application types.
Decorative Car Accessories Market Dynamics
Demand for decorative car accessories is higher in the aftermarket segment than the original equipment manufacturer (OEM) segment. The aftermarket segment is less expensive and offers a more diverse range of customisation in terms of design & material types. Franchise-based sales channels & regional dealers are the prominent players in both value chain and supply chain. The supply chain consists of conventional physical sales channel as well as online sales. Phone-based application sales is a new channel which has grown robustly in recent times.
Many dealers are creating their own brand / range of accessories in association with the parent OEM, thereby adopting a strategic alliance. Marketing and promotion via social platforms, trade fairs & exhibitions, motor racing events, seminars, and print & electronic media are thoroughly used for product positioning & consumer awareness.
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Key Segments Profiled in the Decorative Car Accessories Market Survey
By Product Type:
- Interior
- Exterior
By Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
By Distribution Channel:
- Online Store
- Offline Store
By Region:
- North America
- Latin America
- The Asia Pacific
- MEA
- Europe
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Decorative Car Accessories Market: Regional Outlook
Geographically, the decorative car accessories industry is present across all major regions which include North America, Western & Eastern Europe, Asia-Pacific region, Japan, and Middle East & Africa. The North American decorative car accessories market is the largest contributor with highest consumer base. The market will witness healthy growth rates owing to stable automotive sales. The market would be volume driven across all regions and car types. Value additions by suppliers and a strong sales channel would be key requisites of the market.
Decorative Car Accessories Market Players
The major players including manufacturers & suppliers identified across the global value chain are:
- Delphi Automotive
- Robert Bosch GmbH
- Continental AG
- Denso Corporation
- Magna International
- Aisin Seiki Co. Ltd.
- Tenneco Inc.
- Federal-Mogul Corp.
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Amongst others, there are prime regional manufacturers, such as:
- 3D Carbon Automotive Corp.
- Carroll Shelby International Inc.
- Roush Performance Products Inc.
- Steeda Autosports
- Classic Design Concepts
- JC Whitney
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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