NEW YORK, 28 October 2021 / PRNewswire / – The global auto accessories market is reasonably populated with leading companies in 2016, totaling a notable share of the market. Major players have invested in technological advancement, product innovation and maintenance of quality standards in order to maintain their supremacy in the automotive aftermarket. The main players active in the automotive accessories market are Cover craft Industries LLC, US Auto Parts Network Inc., Star Automotive Accessories, Lloyd Mats, Hyundai Motor Company, Robert Bosch GmbH, JCA Fleet Services, Roush Performance, Renault, Classic Soft Trim , and Honda Motor Co., Ltd. among others. These players are expected to increase the growth of the auto accessories market in the near future.
According to analysts at Zion Market Research, the global auto accessories market was capitalized at $ 487.79 billion in 2020. The global auto accessories market is expected to almost cross $ 753.05 billion by the end of 2028, growing at a CAGR of nearly 6.4% from 2021 to 2028.
This press release is based on a research report from Zion Market Research, titled “Automotive accessories market by product (work lights, torches, appearance accessories, warning lights, high beams, interior lighting, electronic assemblies, interior accessories, lifestyle gadgets, instruments and gauges, safety , light module tuning, performance / stylish / fixture tuning, vision products, appearance chemicals, gas and oil additives, solar powered HVAC systems, retrofit air conditioner packages and others) – Global perspective of Industry Comprehensive Analysis and Forecast, 2020-2028 “.
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Growing inclination towards vehicle customization and increasing requirements for cars and to strengthen the development of the global automotive accessories market
Zion Market Research analysts say “the automotive aftermarket is likely to experience significant development in the near future.” The increasing demands on cars, the growing trend of vehicle customization (especially among the teenage generation) and the increase in sales of pickup trucks in developed countries are the major reasons that are expected to fuel the development of the global automotive market. auto accessories during the forecast period. Since a large number of automotive accessories are available in the industry, many of them are not of consistent quality. The goods are made from poor quality materials. Thus, the availability of low-quality cheap auto accessories and irregularity in the quality of auto accessories could hamper the development of the auto aftermarket.
Technical advances likely to create new development opportunities for automotive accessories in the years to come
The automotive sector is continually bringing new technologies such as biometric access to vehicles, new lighting technology and active showcases, among others. This technological advance is likely to create new development opportunities for automotive accessories in the years to come. For example, in june 2018, the Rockford Fosgate DSR1 audio processor was launched in India. The Rockford Fosgate DSR1 improves the sound quality over the stock version by connecting to the car’s factory fitted OEM system. Such types of launches are stimulating the automotive aftermarket.
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On the basis of product, the automotive accessories market is divided into torches, working lights, warning lights, appearance accessories, interior lighting, high beam, interior accessories, electronic assemblies, gauges and instruments, styling gadget life, light module tuning, safety, product view, stylish / performance / fixture tuning, gas and oil additives, appearance chemicals, retrofit air conditioning packages, solar powered HVAC systems and more. Among all product types, vision products and torches are the most demanded, thus boosting the automotive aftermarket.
The global automotive accessories market is segmented as follows:
By product
- Work lights
- Torches
- Appearance Accessories
- Hazard lights
- Redlights
- Interior lights
- E-sets
- Interior accessories
- Lifestyle gadget
- Instruments and gauges
- Security
- Adjusting the light module
- Performance / elegant / luminaire adjustment
- Vision products
- Chemical appearance
- Gas and oil additives
- Solar powered HVAC systems
- Retrofit air conditioning packages
- Others
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By region
- North America
- Europe
- France
- Great Britain
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- CCG
- South Africa
- Rest of Middle East & Africa
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