Press release
Global decorative car accessories market is expected to witness significant growth over the forecast period :Top Keyplayers are Delphi Automotive, Robert Bosch GmbH, Continental AG, Magna International, Aisin Seiki Co. Ltd., Tenneco Inc., Federal Mogul Co
Decorative car accessories are either interior or exterior parts of vehicles which are installed in vehicles to give them more appealing look. These accessories are available through both online and offline distribution channels. Enhancing car looks and improving comfort level are two major needs of vehicle owners which are responsible for extreme demand for decorative car accessories across the globe.
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Market Size and Forecast
Global decorative car accessories market is expected to witness significant growth over the forecast period. The market is expected to thrive on the back of growing automotive industry across the globe. Increasing sales of vehicles and increased spending of consumers on vehicles ornament are likely to be the key drivers behind the growth of market during the forecast period.
Regionally, the global decorative car accessories market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa regions. Among these regions, Asia Pacific decorative car accessories market is expected to witness significant growth in global decorative car accessories market by the end of forecast period. Rising vehicle production in Asian countries and increasing sales of passenger cars are key factors which are envisioned to strengthen the market of decorative car accessories in this region. Additionally, India, China and Japan are some of the major vehicle producer countries and are expected to contribute significantly in the growth of Asia Pacific decorative car accessories market during the in Asia Pacific region. Rising despoiled income of the consumers and rapid urbanization in Asian countries are anticipated to bolster the growth of market in this region.
Apart from Asia Pacific, North America region grabbed major shares in previous years and is accepted to witness robust growth over the forecast period. Increasing trend of vehicle customization and high spending by consumers on vehicle service and up gradation are expected to enhance the demand for decorative car accessories market in this region. Apart from this, U.S. is likely to contribute significantly in the growth of decorative car accessories market in North America region during the forecast period.
Further, offline store segment by application grabbed major shares of market in previous year and is expected to continue positive growth over the forecast period. However, availability of these decorative car accessories through online stores and increasing consumer’s preference for online shopping are expected to escalate the growth of online store segment at maximum pace over the forecast period.
Market Segmentation
Our in-depth analysis has segmented global decorative car accessories market into the following segments:
By Vehicle Type
Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
By Product Type
Interior
Pedals & Car Mats
Racing Seats
Steering Wheel & Seat Covers
Headrests
Seatbelts
Interior Trims
Gauges
Shifters
Door Sills
Others
Exterior
Racks & Carriers
Spoilers & Wings
Mud & Splash Guards
Sunroofs
Louvers
Mirrors
Door Skins
Suspensions
Light Bars
Exhausts & Mufflers
Air Intake Systems
Decals & Stickers
Others
By Distribution Channel
Online Stores
Offline Stores
By Region
Global decorative car accessories market is further classified on the basis of region as follows:
North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
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Growth Drivers & Challenges
The increasing sales of vehicles are the major factor which is responsible for the growth of decorative car accessories market. In addition to this, the global automotive industry is driven by a number of factors such as rinsing consumer’s affordability, growing income of consumers and availability of easy financing options to buy a vehicle. Further, this growth in automotive industry is fuelling the growth of decorative car accessories market.
Growing trend for vehicle customization all across the regions is a key factor which has escalated the demand for decorative car accessories globally. Consumers are installing numerous accessories to give their vehicles more tempting look and to improve driving comfort level of their cars.
Additionally, changing lifestyle of consumers and rising preference for cars over motor bikes is a key factor which is expected to drive the growth of market in upcoming years. Further, availability of wide range of accessories that can offer diverse range of customization in terms of design & material is driving the growth of global decorative car accessories market at notable growth rate globally.
For instance, total global production of cars in 2016 reached 72,105,435 as compared to 68,539,516 in 2015. Automakers such as Jaguar Land Rovers and BMW are executing aggressive expansion plan to boost the production and sales of the company across the globe. This factor is projected to bolster the growth of decorative car accessories market in future.
World Productions of Motor Vehicles in 2015-2016
Growing aftermarket sales of decorative car accessories is also strengthening the growth of market across all regions.
However, the high cost of the car accessories from popular manufacturer is expected hamper the growth of decorative car accessories market in upcoming years.
Key Players
Denso Corporation
Company Overview
Business Strategy
Key Product Offerings
Financial Performance
Key Performance Indicators
Risk Analysis
Recent Development
Regional Presence
SWOT Analysis
Delphi Automotive
Robert Bosch GmbH
Continental AG
Magna International
Aisin Seiki Co. Ltd.
Tenneco Inc.
Federal Mogul Corp.
Elegant Auto Accessories
Adinox
Others
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global decorative car accessories market is segmented as follows:
By Vehicle Type Market Size & Y-O-Y Growth Analysis
By Application Market Size & Y-O-Y Growth Analysis
By Distribution Channel Type Market Size & Y-O-Y Growth Analysis
By Region Market Size & Y-O-Y Growth Analysis
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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