Overview of Automotive Chrome Accessories Market: Trend, Scope, Price, Revenue, Share, Growth and Forecast Until 2022
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Automotive chrome accessories market is exhibiting a steady growth throughout the world, owing to the fact that chrome accessories add shine, color and own distinct personality to any automobile. The drivers supporting this market are the increasing trend for vehicle customization, especially amongst the younger generation, which is fuelling the sales of chrome accessories for cars and other vehicles. Besides, there is a growing demand for pickup trucks in the developed countries of the world, which is also having a positive impact on the sales of automotive chrome accessories. In addition, there is a rising demand for performance enhancing exterior car accessories in the market, thereby directly increasing the sales of automotive chrome accessories. Also, the rapidly expanding automotive market in the developing regions of the world, especially APEJ, is giving a fillip to this market. Chrome accessories give a distinct look to the vehicle and make it stand out in the crowd. Presently, more and more people are preferring to opt for such automotive chrome accessories in order to enhance the performance of their car and shedding away the drab & boring-looking plastic accessories. However, there are many challenges that this market is facing. The main challenge is the easy availability of cheap and counterfeit chrome accessories imported mainly from the Asian countries. In addition, a huge fragmentation of the market leads to cost competitiveness and regulations related to modification of vehicle exteriors in some regions of the world may hamper the growth of the automotive chrome accessories market.
As per their general definition, automotive chrome accessories enhance the look and feel of the car and give it a distinct personality as compared with an automobile without any such accessories. They are mainly used for twin purposes of increasing the aesthetic value of the vehicle and enhancing its performance.
The scope of the report is to analyze the global automotive chrome accessories market for the period 2017-2022 and give readers an accurate, unbiased analysis. Automotive chrome accessories manufacturers, suppliers, and stakeholders in the overall automotive market can benefit from the insights offered in this report. The comprehensive analysis offered in the report can also be of interest to leading automotive journals and trade magazines.
The report begins with a concise summary of the global automotive chrome accessories market. This executive summary sets the tone for the rest of the report, giving users the scope of the report. The executive summary includes important facts and statistics on the global automotive chrome accessories market.
Body Side Mounding Segment Poised to Touch a Value of Nearly US$ 1,786 Mn in 2022
As per the forecast of Fact.MR, the body side mounding segment is expected to reach a value of nearly US$ 1,786 Mn in the year 2022. This represents a sluggish CAGR during the forecast period of 2017-2022. Body side mounding segment is expected to account for nearly one-fifth of the revenue share of the product type segment by the year 2017 and is expected to lose market share by the end of the year 2022.
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OEM Automotive Chrome Accessories Segment to exhibit a CAGR of 3.4% During the Assessment Period
As per the forecast of Fact.MR, the OEM automotive chrome accessories segment is slated to touch a figure of nearly US$ 3,682 Mn in the year 2022. This represents a CAGR of 3.4% during the assessment period from 2017 till the year 2022. This segment is expected to gain market share by the end of the year 2022. The OEM automotive chrome accessories segment is expected to account for more than one-third of the revenue share of the sales channel segment by the year 2017.
The report also profiles companies that are expected to remain active in the expansion of global automotive chrome accessories market through 2022, which include HELLA KGaA Hueck & Co, Thule Group AB, Oakmore Pty Ltd, Lund International, Inc., Covercraft Industries, LLC, Pep Boys - Manny, Moe & Jack, O'Reilly Automotive, Inc., U.S. Auto Parts Network, Inc., Mont Blanc Industri AB and Fratelli Menabo' Srl.
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