Automotive Rocker Panel Market Forecast 2024-2033: Analysing Major Trends, Opportunities, and Growth Drivers

The global Automotive Rocker Panel Market size was valued at $54.3 billion in 2023, and is projected to reach $86.4 billion by 2033, growing at a CAGR of 5.1% from 2024 to 2033. Rocker panels are used to make the vehicle's body stiff by preventing sagging down of the midbody. Initially, they were meant to provide structural reinforcement such that in case of an accident the cabin will not be deformed and remains intact. They significantly contribute to the overall rigidity of a vehicle, which is crucial in terms of safety on roads. These are positioned at the sides between the wheels and function as other than roof supports, essential links that connect the front and rear ends of the automobile. Rocker panels keep the car's back part from separating with its front side.

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The surging production of automobiles is driving the demand for rocker panels, given their indispensable role in most vehicle designs. Furthermore, the global increase in consumer preference for personal vehicles directly influences the requirement for replacement rocker panels, especially in aging vehicles. This, coupled with stringent safety regulations, is compelling automakers to prioritize the robustness and structural integrity of rocker panels, thereby fostering innovation and market expansion. Furthermore, the swift pace of urbanization is contributing to increased vehicle usage, subjecting them to rough road conditions and enhancing the necessity for resilient rocker panels. Moreover, these panels play a crucial role in preventing rust and corrosion, making them essential in regions characterized by harsh climates or elevated humidity levels. Furthermore, advancements in materials and manufacturing technologies are resulting in lighter and more durable rocker panels, thus fostering their demand globally.

The key players profiled in this report include

C2C Fabrication

Putco

Smittybilt

Innovative Creations

Rugged Ridge

B&I

QMI Sharp

Willmore Manufacturing

Nor/Am Auto Body Parts

Auto Metal Direct

The report provides a detailed analysis of these key players in the global automotive rocker panel market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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The development of autonomous vehicles is one of the major factors driving the growth of rocker panels. Rocker panels provide structural reinforcement to the vehicles. In June 2022, Einride obtained approval from the U.S. National Highway Traffic Safety Administration (NHTSA) to test & operate its autonomous trucks in the U.S. roads. Similarly, Australia has been testing a wider fleet of autonomous mining trucks in its iron & other mineral ores wherein trucks are operating autonomously to transport minerals from mines to collection centers. The testing and development efforts aimed at bringing self-driving trucks into commercial use have broadened the market potential for growth throughout the projected period.

On the basis of vehicle type, the passenger car segment held the highest market share in 2023, accounting for more than two-thirds of the global automotive rocker panel market and is projected to grow at a CAGR of 4.3% during the forecast period. Passenger cars designed for passengers frequently focus on looks and fashion leading to an increased interest in rocker panel enhancements to boost their appeal. Moreover, with the growing passenger car industry, the demand for replacement components and personalized features is expected to rise simultaneously.

However, the commercial vehicle segment is projected to register a CAGR of 7.0% during the forecast period. This is attributed to the fact that the demand for rocker panels for commercial vehicles is expected to rise as industries such as transportation, logistics, and construction, continue to grow. Moreover, commercial vehicles endure usage and wear, which necessitates the replacement of rocker panels to uphold fleet integrity, safety, and operational efficiency.

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Rising emphasis from cities and governments on sustainable transportation solutions has driven the demand for electric and hybrid vehicles. For instance, according to International Energy Agency (IEA), global electric car sales exceeded 10 million units in 2022, indicating a 35% increase in 2023, reaching a total of 14 million units. This remarkable surge in sales signifies a substantial rise in electric cars' market share of 4%. This factor is projected boost the deployment of rocker panels in vehicles, thus augmenting the growth of the global market.

The automotive sector is undergoing a transition toward the adoption of lightweight materials to boost fuel efficiency and minimize emissions. Materials such as carbon fiber and aluminum are gaining prominence in the production of rocker panels not only in reducing the overall vehicle weight but also providing strength and durability. This shift is anticipated to drive the expansion of the market for vehicle rocker panels.

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Regional Analysis:

Region-wise, Asia-Pacific was the major revenue contributor in 2023, accounting for more than half of the global automotive rocker panel market revenue. This is attributed to the fact that the demand for automotive rocker panels is projected to increase in Asia-Pacific due to the burgeoning automotive industry and rising vehicle ownership rates. With expanding economies, the demand for both passenger and commercial vehicles is expected to rise, thereby driving the need for replacement parts and aftermarket customization, including rocker panels, to meet diverse consumer preferences.

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