Press release
Exterior Trim for Automotive Market Size & Share - Industry Trend and Forecast 2018 - 2026
The main objective of this report is to define, describe, and forecast the global “Exterior Trim for Automotive” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
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Exterior trims are exterior parts of the vehicle that are made of different conventional materials such as plastic, fiber, metal, and other materials. Exterior trims for automotive are a primary and integral part of the vehicle, as they protect the vehicle from unwanted damage caused due to surrounding vehicle. Exterior trims for automotive refer to the components that are summed to the exterior of an automobile to increase its esthetic appeal. Exterior trims for automotive include the bumper, hood, light assembly, wheel flares, and headlight covers. Most modern vehicles are incorporated with a high number of exterior trims in order to embellish the appearance of vehicles.
Increase in demand for exterior trim for automotive is witnessed due to their extensive usage in vehicles, in order protect the vehicles from dents and any other damage. This is a key factor that is expected to drive the exterior trim for automotive market during the forecast period. Numerous innovations and developments and shifting consumer preference are propelling application of plastic and fiber in exterior trim for automotive owing to its cost effectiveness than metals. Plastics and fiber are lightweight components that reduce the weight of the vehicle, thereby improving vehicle efficiency. This is expected to provide significant growth opportunities for the exterior trim for automotive market. Advancements in technology and development of design and material in order to reduce the cost, thereby making the vehicle more efficient, are also projected to boost the exterior trim for automotive market during the forecast period. Exterior trims offer several benefits such as reliability, protection of vehicles from major damage, and availability in any region. Rising competition among auto manufacturers owing to consumer awareness and to provide cost effective, reliable, and improved product is likely to provide lucrative opportunities to the exterior trim for automotive market. Complexity in product replacement and maintenance are expected to hamper the exterior trim for automotive market during the forecast period.
The exterior trim for automotive market can be segmented based on type, vehicle type, sales channel, and region. Based on type, the exterior trim for automotive market can be segregated into plastic, metal, and others. The plastic segment accounts for a major share of the market, as compared to the others. The segment is expected to expand at a significant growth rate during the forecast period owing to its light weight, cost-effectiveness, and ease of availability.
In terms of vehicle type, the exterior trim for automotive market can be segregated into passenger vehicles and commercial vehicles. The passenger vehicles segment held a prominent share of the market owing to the higher rate of adoption and increasing consumer demand especially from high-end luxury vehicles, SUVs, and others. This is expected to propel the exterior trim for automotive market during the forecast period.
Based on sales channel, the exterior trim for automotive market can be classified into original equipment manufacturers (OEMs) and aftermarket. The aftermarket segment holds a major share of the market, as compared to the OEMs segment. This is due to the increase in accident ratio and maintenance of the vehicle, leading to regular replacement of the components.
In terms of geography, the exterior trim for automotive market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and Rest of the World. Among regions, Asia Pacific accounts for a major share of the global exterior trim for automotive market, due to the high rate of adoption and infrastructural developments, especially in China, India, Japan, and Korea. The exterior trim for automotive market in Europe, especially in Germany, France, Italy, and the U.K., is also expected to expand due to rapid expansion in industrialization and technological advancements in the automotive production sector in these countries.
Key players operating in the global exterior trim for automotive market include TOYODA GOSEI Co., Ltd., Hutchinson, CIE Automotive, DURA Automotive Systems, Magna International Inc., Midland Vehicle Components, Takata Corporation., SRG Global, and Arkema Group.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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