Automotive Tonneau Cover Market 2021 Analysis by Top Key players- TrailFX, TruckHero, Bestop and Snugtop

The “Automotive Tonneau Cover Market” report is an in-depth study of the market, along with an analysis of its key segments. The relationship is built through extensive primary and secondary research. In-depth market data is generated through interviews and data collection from industry experts and professionals. The study is a detailed document on key aspects of the markets including trends, segmentation, growth prospects, opportunities, challenges, and competitive analysis.

The automotive tonneau market is projected to grow with a CAGR of more than 8 % during the forecast period.

The report is updated with the impact of the currently ongoing COVID-19 pandemic. The pandemic has dynamically affected key market segments and changed the growth pattern and demands in the Automotive Tonneau Cover market. The report covers an in-depth analysis of these changes and provides an accurate estimate of the market growth forecast after the impact of the pandemic.

The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Automotive Tonneau Cover Market: TrailFX, TruckHero, Bestop and Snugtop.

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Industry News and Developments:

- In February 2020, Bentley launche Continental GT Mulliner convertible with a lightweight aluminum body.

- Rolls Royce, offerd a seat conversion for the convertible Dawn with the help of a carbon fibre tonneau cover. The tonneau cover has been made from carbon fibre to keep the weight down to a minimum.

Key Market Trends

Hardcover Segment is Expected to Capture the Largest Market Share

By type, hard cover for pick-up trucks is expected to capture the largest market share. The rising demand for pickup trucks is expected to enhance the demand for hard tonneau covers.

In the year 2019, the demand for pickup trucks was up by almost 8 % from the previous year. Many big players in the market witness high growth rates. For instance, Ford Ranger sales were up by around 32% and Ram pick-up trucks by 17%. The demand is expected to go up further during the forecast period.

Now-a-days Consumers are using pickup trucks for transporting both goods and passengers. Hard tonneau covers help to protect and conceal items in the non-passenger area of pickup trucks. The major restraint for the market is the heavy weight of the hard cover which will reduce the vehicle fuel effieciency.

In 2018, TrailFX developed new Helix retractable cover which features a resilient aluminum construction and scratch resistant, matte-black finish. There is a spring-loaded aluminum canister for protection, a convenient tether to open and close the cover from the tailgate, and intermittent locking positions for hauling flexibility. These kinds of developments are expected to help the market growth.

North America is Expected to be the Largest Market

The North America region is expected to be the largest market for automotive tonneau cover. The major markets in the region are United States of America and Canada. The demand for tonneau is also promising owing to the presence of many luxury OEMs in the region which are manufacturing premium convertible cars for local as well as export market.

The growth in the market is attributed to the high demand of pick-up trucks in the region and convertible cars. In the year 2019, more than 3 million pickup trucks were sold to customers in United States alone, with a growth rate of about 4.5% during the last five years period.

The pickup trucks are very popular in the region and the can be used to serve multiple purposes, for travelling along with the family and carry other essential items during their travel.

In December 2019, Worksport Ltd., has applied for trademark for its new technological initiative, TerraVis, which is a solar powered tonneau cover. The TerraVis cover will feature a removable 500-watt solar panel that will aim to integrate and power electric trucks in the future. The aforementioned dynamics and developments are expected to help the market grow over the forecast period.

For a comprehensive understanding of market dynamics, the global Automotive Tonneau Cover market is analyzed across key geographies namely: United States, China, Europe, Japan, South-east Asia, India, and others. Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

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Influence of the Automotive Tonneau Cover market report:

-Comprehensive assessment of all opportunities and risks in the Automotive Tonneau Cover market.

–Automotive Tonneau Cover market recent innovations and major events.

-Detailed study of business strategies for growth of the Automotive Tonneau Cover market-leading players.

-Conclusive study about the growth plot of Automotive Tonneau Cover market for forthcoming years.

-In-depth understanding of Automotive Tonneau Cover market-particular drivers, constraints, and major micro markets.

-Favourable impression inside vital technological and market latest trends striking the Automotive Tonneau Cover market.

What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Automotive Tonneau Cover Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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