Passenger Car Accessories Aftermarket Size, Trends, Demand, Growth, Opportunities and Key Manufacturers Forecast to 2026

Drivers, restraints, and opportunities-

Stringent government regulations to replace or upgrade the accessories, rise in the trend of vehicle customization coupled with increase in disposable income, and high focus on the well-being of drivers fuel the growth of the global passenger car accessories aftermarket. On the other hand, decrease in global vehicle production, surge in the drift toward shared mobility, rise in raw-material prices, and high automotive import tariffs restrain the growth to some extent. However, technological advancements, growth in demand for luxurious vehicles, and untapped developing markets in Africa and Asia are expected to create lucrative opportunities in the segment.

Download Report Sample at https://www.alliedmarketresearch.com/request-sample/6473

According to a recent report published by Allied Market Research, titled, "Passenger Car Accessories Aftermarket by Type and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026," the global passenger car accessories aftermarket size was valued at $128.97 billion in 2018, and is projected to reach $248.41 billion by 2026, registering a CAGR of 8.5% from 2019 to 2026.

Technological advancements such as Bluetooth connectivity for hands-free mode in the automotive accessories market are on the rise, owing to increase in demand for attractive, comfortable, and aesthetic features in the automotive vehicles, especially passenger vehicles. However, Faurecia showcased the concept of customizable controls in January 2017 to solve the problem of bulky dashboard. This is expected to decrease the use of display screens and separate display panels. For example, control knobs can be integrated into door panels.

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.

Interested to Procure The Data? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/6473

Presently, 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.

Generally, luxurious car brands such as Audi and BMW, offer high-quality equipment, comfort, performance, and technologically innovative automotive interiors. These manufacturers are planning to use customizable controls that can easily be integrated into the dashboard materials. The sales of luxurious cars increased worldwide by around 4% from 2016 to 2017.

This rise in demand for luxurious cars is expected to increase the need for innovative automotive accessories. Therefore, technological advancements and growth in demand for luxurious vehicles are estimated to increase the demand for passenger car accessories.

Automotive infotainment is one of the fastest growing technologies in the automotive interior industry. In-vehicle infotainment systems comprise handset integration, head-up display, infotainment systems for driver assistance, interior personalization, and cloud-based infotainment. A lot of automotive companies launch various products with advanced features in infotainments. For instance, in September 2018, Renault-Nissan-Mitsubishi and Google joined forces for next-gen infotainment system. The launch for the same is expected by 2021. Therefore, in-vehicle infotainment provides an opportunity for vendors in the market.

Procure Research Report at: https://www.alliedmarketresearch.com/passenger-car-accessories-aftermarket-market/purchase-options

The key players profiled in the passenger car accessories aftermarket share include Bridgestone Corporation, CEAT Limited, Continental Corporation, Michelin, Pirelli Tyre C S.p.A., The Goodyear Tire & Rubber Company, JK Tyre & Industries Limited, MRF Limited, Sumitomo Rubber Industries, Ltd., The Yokohama Rubber Co., Ltd., Panasonic Corporation, Visteon Corporation, HARMAN International, Ford Motor Company, Audi AG, Alpine Electronics, Inc., Pioneer Corporation, BMW Group, Volkswagen AG, DENSO Corporation, Hella KGaA Hueck & Co., Hyundai Mobis, Koito Manufacturing Co., Ltd., Koninklijke Philips N.V., Osram Licht AG, Robert Bosch GmbH, Stanley Electric Co., Ltd., Valeo, Zizala Lichtsysteme GmbH, Iochpe-Maxion, CITIC Dicastal Co., Ltd., Hitachi Metals, Ltd., American Eagle Wheel, Superior Industries International, Inc., CLN group, and Borbet, Accuride Corporation.

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog: https://blog.alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.