Press release
Car Covers Market Report 2024-2033: Market Size, Growth, Analysis And Industry Trends Report
Car Covers Market
The Business Research Company presents an extensive market research report on the Car Covers Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The car covers market size has grown steadily in recent years. It will grow from $8.37 billion in 2023 to $8.72 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to emergence of automobiles, early weather protection needs, foundational material innovations, initial consumer demand.
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The car covers market size is expected to see steady growth in the next few years. It will grow to $10.02 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to urbanization and parking challenges, aftermarket expansion, rise in automotive ownership, smart and connected car integration, sustainability and eco-friendly focus.. Major trends in the forecast period include customization and tailored fit, material innovation, versatility in protection, enhanced durability and longevity, consumer awareness..
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Key Market Players:
Confezioni Andrea Italia Srl, Easepal Enterprises Limited, WeatherTech, Intro-Tech Automotive, ShelterLogic, Zhejiang Mingfeng Car Accessories, Coverking Inc., DOWCO Inc., AutoAnything, ADCO Products LLC., Budge Industries LLC, Smittybilt Inc., OxGord Inc., EmpireCovers, Elegant Auto Accessories, Autoform, MacNeil Automotive Products Limited (US), A1 Car Covers, Blue Magic Inc., California Car Cover Co., CarCapsule, Classic Additions Ltd., Coverwell, FH Group, Formosa Covers, Gator Covers, Polco Pvt. Ltd., Rampage Products LLC., Xcar Ltd. are prominent players in the industry.
Market Drivers:
The growing demand for passenger cars is expected to propel the growth of the car covers market going forward. Passenger cars are motor vehicles primarily designed for personal or family use, typically smaller in size compared to commercial vehicles and intended for the transportation of passengers. Car covers are used in passenger cars for various purposes, including protection, maintenance, and convenience, and extend their lifespan by guarding them against the various hazards posed by the environment. For instance, in May 2023, according to reports published by the European Automobile Manufacturers Association, a Belgium-based motor vehicle manufacturing association, the European Union produced 10.9 million passenger cars in 2022, a rise of 8.3% from 2021. Therefore, the growing demand for passenger cars is driving the growth of the car cover market.
Market Segments Include:
1) By Product Type: Conventional, Automatic, Semi-Automatic
2) By Distribution Channel: Store-Based, Non-Store-Based
3) By End Use: Individual, Vehicle Manufacturers
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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