Passenger Car Accessories Market 2021 Growth, Prominent Players: Toyota, Hyundai Motor, Honda, FORD

The Passenger Car Accessories Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

the global passenger car accessories aftermarket size was valued at $132.2 billion in 2020, and is projected to reach $245.60 billion by 2026, registering a CAGR of 9.2% from 2021 to 2026.

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Top Leading Companies of Global Passenger Car Accessories Market are - Toyota, Hyundai Motor, Honda, FORD, Renault, Nissan, General Motors, Volkswagen, BMW, AUDI, and others.

Industry News and Updates:

September 10, 2021: Hyundai Mobis India launches innovative and stylish accessories for the new i20 N Line

New Delhi: Mobis India, a well-entrenched player in manufacturing high quality automotive parts, accessories and mobility solutions for Hyundai Motors in India showcased a host of stylish and innovative accessories for new i20 N Line today.

This comes in the wake of the company's continuous efforts to raise the bar in accessorizing Hyundai cars that have become an epitome of high-performance and great looks.

At Hyundai Mobis the prime focus is to give a holistic driving experience to the customers. Their offerings are designed to give a complete makeover to the i20 N Line with sporty and aesthetically styled accessories. The newly introduced accessories in carbon finish provide a distinctive sporty appearance to the car.

Market Overview:

Factors such as stringent government regulations to replace or upgrade the accessories, increase in trend of vehicle customization coupled with rise in disposable income, and high focus on well-being of drivers fuel the growth of the market. However, decrease in global vehicle production, rise in trend of shared mobility, increase in prices of raw material, and growth in trade war and high automotive import tariffs are anticipated to hamper the market growth. Further, technological advancements and growth in demand for luxurious vehicles, untapped developing markets in Africa and Asia, and advancements in in-vehicle infotainment are expected to create numerous opportunities for market expansion. 

On The Basis of Types:

Doors

Windows

Wheels & Rims

Car Cover

Mirrors

On The Basis of End Users/Applications:

Automobile Industry

Others

Regional analysis:

The U.S. dominates the market, followed by Mexico and Canada in North America. However, Canada is expected to grow at a higher CAGR during the forecast period. In addition, in 2018, China led the market in the Asia-Pacific region followed by Japan, India, South Korea, and rest of Asia-Pacific countries. 

Influence of the Passenger Car Accessories market report:

-Comprehensive assessment of all opportunities and risk in the Passenger Car Accessories market.
-Passenger Car Accessories market recent innovations and major events.
-Detailed study of business strategies for growth of the Passenger Car Accessories market-leading players.
-Conclusive study about the growth plot of Passenger Car Accessories market for forthcoming years.
-In-depth understanding of Passenger Car Accessories market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Passenger Car Accessories market.

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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.

Analytical Tools: The Global Passenger Car Accessories 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.

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.

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