Press release
Automotive Emblem Market to Perceive Substantial Growth During 2022-2031 - TMR Study
The automotive emblem market is witnessing a significant expansion, owing to rising use of new, high-quality materials to create emblems, increasing usage of emblems compatible with millimeter-wave radar system, and rising demand for custom made 2D and 3D emblems
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Key drivers of global automotive emblem market
Increasing use of new, high-quality materials to manufacture vehicle emblems is a key factor driving the global automotive emblem market
Intensifying competition between OEMs operating in the automotive sector is driving the need for establishment of a brand identity in the market. Furthermore, the emergence of new players in automobile market is driving the need for design and manufacture of new emblems. Therefore, OEMs and aftermarket players are adopting various strategies, including product differentiation, in terms of vehicle appearance.
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OEMs are increasingly using high quality plastics, metals, silver accents, and chrome plating to create automotive emblems. These emblems enhance the visual appeal of the vehicle. Consequently, high-quality materials cost more, resulting in high price of the emblem.
Die stamping, 3D printing, die casting, and injection molding are a few methods used to manufacture automotive emblems. 3D printing is a highly sophisticated method to make automotive emblems, as a 3D printer can make an emblem of complex shape and customized color combination. Moreover, 3D printed eliminates the need to design and manufacture a die in case of die casting and die stamping processes. 3D printing also enables emblem makers to offer rapid customization. Therefore, various automakers and aftermarket players are adopting this technology at a rapid pace.
The size of emblems is limited owing to the small size of the working bed of a 3D printer; however, an automotive emblem maker can purchase a larger 3D printing machine available in the market. Increasing usage of 3D printing technology for automotive applications is a key trend witnessed in the automotive emblem market.
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All these factors are propelling the automotive emblem market
Passenger vehicle segment to dominate the global automotive emblem market
Various automakers are manufacturing vehicles considering consumers' luxury and safety needs. For instance, connected vehicles, IoT gadgets, and vehicles powered by Artificial Intelligence (AI) are gaining popularity owing to consumers' trend toward luxury vehicles.
Technological advancements in the field of automotive have led to the innovation of various vehicle systems. For instance, the self-parking system enables the vehicle to park itself at a pre-defined parking station. ADAS, cruise control system, security systems, lane assist system, AEB are few systems that enhance the safety of a vehicle.
All these factors are boosting the adoption of passenger vehicles, thereby driving the global automotive emblem market.
Asia Pacific to dominate global automotive emblem market
Countries in Asia Pacific, such as China and India, are prominent consumers of automotive, owing to the considerably large population of these countries in the region
Demand for passenger as well as commercial vehicles in Asia Pacific in increasing, which can be attributed to consistent economic development owing to significant expansion of production and the manufacturing industries, development of road infrastructure, and numerous foreign direct investments in the region
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These factors boost the global automotive emblem market in Asia Pacific
Key players operating in global automotive emblem market
The global automotive emblem market is highly concentrated owing to the presence of top manufacturers. A few key players operating in the global automotive emblem market are:
Elektroplate
PIDPLATES USA Inc.
AUTOBADGES
PremiumEmblem Co.ltd
EmblemArt
CIE Automotive SA
Koch Industries, Inc.
Ningbo Huaxiang Electronics Co. Ltd.
Tokairika Co. Ltd.
Toyoda Gosei Co. Ltd.
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