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Automotive Trim Market (COVID 19 Impact Updated Research Report) Growth Analysis And Forecast 2020-2027

08-10-2020 01:41 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Automotive Trim

Automotive Trim

Leading market players

Intenational Automotive Components
Kasai Kogyo Co., Ltd.
STS Group
Toyata Boshoku Corp.
Trinseo
TS Tech Co. Ltd
Draexlmaier Group
Dura Automotive Systems Inc.
Gemini Group Inc.
GRONBACH
Grupo Antolin

“Automotive Trim Market by Material Type (Acrylonitrile Butadiene Styrene (ABS), Polypropylene (PP), Polyoxymethylene (POM), Thermoplastic Elastomer (TPE) and Others), Internal Application (Dashboard, Door panel and Others), External Application (Bumpers, Window & door seals and Others ), Vehicle Type (ICE Passenger Vehicle, ICE Commercial Vehicle, Battery Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicle), and End Use (Original Equipment Manufacturers and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global automotive trim industry generated $25.68 billion in 2019, and is estimated to reach $43.35 billion by 2027, growing at a CAGR of 6.9% from 2020 to 2027.

Download Report Sample (312 Pages PDF with Insights, Charts, Tables, Figures) @ https://www.alliedmarketresearch.com/request-sample/6661

Drivers, restraints, and opportunities-

Rise in demand for luxury and comfort measures in vehicles and surge in production of automobiles drive the growth of the global automotive trim market. However, high replacement cost, risein trade war, and rise in automotive import tariffs hinder the market growth. On the other hand, increase in demand for lightweight components and untapped developing markets create new opportunities in the coming years.

COVID-19 Scenarios-

The global automotive industry has been at a standstill due to the lockdown, which disrupted the manufacturing processes of automotive trim as well. On the other hand, the declined consumer demand for automotive trim has affected the revenues of the global automotive trim market.
On the other hand, automotive parts suppliers in various regions are much dependant on migrant workers. However, the absenteeism of these workers anticipates to slow down the restoration post lockdown.

Moreover, the disruption in the product supply chain creates a number of difficulties for Original Equipment Manufacturers (OEMs) in the automotive industry.

Get detailed COVID-19 impact analysis on the Automotive Trim Market @ https://www.alliedmarketresearch.com/request-for-customization/6661?reqfor=covid

The bumpers segment to maintain its dominant share throughout the forecast period-

Based on exterior applications, the bumpers segment accounted for the highest market share in 2019, contributing to more than two-fifths of the global automotive trim market, and is expected to maintain its dominant share throughout the forecast period. Furthermore, the segment is estimated to portray the highest CAGR of 7.1% from 2020 to 2027. As it offers less damage to the vehicle during accidents which drives the growth of the segment.

The original equipment manufacturers segment to continue its leadership position during the forecast period-

Based on end-use, the original equipment manufacturers segment contributed to nearly two-thirds of the global automotive trim market in 2019, and is estimated to continue its leadership position during the forecast period. In addition, the segment is anticipated to portray the fastest CAGR of 7.4% from 2020 to 2027. This is due to the factor that majority of trims are equipped in vehicles during the time of manufacturing.

Interested to Procure The Data? Inquire here @ https://www.alliedmarketresearch.com/purchase-enquiry/6661

Asia-Pacific to dominate the market throughout the forecast period, North America to grow significantly-

Based on region, Asia-Pacific held nearly one-third of the global automotive trim market in 2019, and is expected to maintain its lion’s share throughout the forecast period. This is due to an increased level of vehicle fleet across the Asia-Pacific countries. Nevertheless, Europe region is anticipated to manifest the fastest CAGR of 7.8% from 2020 to 2027. This is due to the wider adoption of different vehicles which leads the growth of the market in this region. Moreover, North America region is expected to grow at a CAGR of 7.2% during the forecast period.

Automotive Trim Market to Reach $43.35 Bn, Globally, by 2027 at 6.9% CAGR: https://prn.to/3i78wJV

Contact:
David Correa
Portland, OR, United States
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help@alliedmarketresearch.com
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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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