Exterior Car Accessories Market Outlook 2032: Key Players Hyundai Mobis, Magna International, and Thule Group Lead Global Growth

According to Persistence Market Research, the global exterior car accessories market is estimated to reach a value of US$ 53.8 billion in 2025 and is projected to expand at a CAGR of 7.2% during the forecast period, attaining a market valuation of US$ 89.5 billion by 2032. The market's steady growth trajectory is underpinned by the increasing consumer inclination toward vehicle customization, the rising popularity of premium automotive aesthetics, and technological integration in modern cars. Exterior accessories are no longer limited to functional components but have evolved into key elements enhancing the vehicle's identity and performance efficiency.

The expansion of the automotive aftermarket, coupled with surging vehicle ownership in emerging economies, has significantly contributed to market momentum. Moreover, consumer demand for accessories that improve vehicle safety, aerodynamics, and energy efficiency continues to shape industry trends. The SUV and crossover segment leads the market owing to growing consumer preference for multi-purpose vehicles, while Asia-Pacific dominates the geographical landscape due to rapid urbanization, a thriving automotive industry, and increasing disposable income levels across China, India, and Southeast Asia.

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Technological advancements such as smart sensors, LED-based lighting, and aerodynamic design components have elevated the functional value of exterior accessories. The trend toward sustainable and lightweight materials, such as carbon fiber and thermoplastic composites, further supports eco-friendly manufacturing practices. Premium vehicle owners, in particular, continue to invest heavily in exterior enhancements like roof racks, spoilers, lighting systems, and wraps to improve both aesthetics and performance, thus reinforcing the segment's long-term profitability.

Key Highlights from the Report

Increasing demand for personalized and performance-enhancing exterior accessories across luxury and mid-range vehicle segments.
The SUV and crossover category remains the dominant segment due to higher adoption of accessories such as roof rails, guards, and body kits.
Asia-Pacific remains the largest regional market, supported by rising vehicle sales and strong presence of aftermarket suppliers.
Shift toward sustainable, lightweight, and recyclable materials to align with global environmental standards.
Growth of e-commerce platforms enabling wider accessibility and direct-to-consumer (D2C) distribution models.
Technological integration in accessories such as LED lighting and smart sensors offering enhanced safety and functionality.

Market Segmentation

By Distribution Channel

• OEM
• Aftermarket

By Product type

• License Plate Frames
• Body Kits
• LED Lights
• Graphics & Reflectors
• Racks
• Exhaust Mufflers
• Alloy Wheels
• Covers
• Chrome Accessories
• Window Films

By Vehicle Type

• Compact Passenger Cars
• Mid-size Passenger Cars
• Premium Passenger Cars
• Luxury Passenger Cars
• Electric Vehicles

By Region

• North America
• Europe
• East Asia
• South Asia and Oceania
• Middle East and Africa
• Latin America

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Regional Insights

The Asia-Pacific region leads the global exterior car accessories market, driven by booming automotive production, expanding middle-class populations, and a growing passion for car modification culture. Countries such as China, India, Japan, and South Korea serve as key contributors, hosting both established manufacturers and emerging aftermarket players. The region's dominance also stems from increased infrastructure development and vehicle ownership rates, creating fertile ground for accessory sales.

In North America and Europe, the market is experiencing consistent growth supported by the popularity of premium and sports utility vehicles. The U.S. and Germany remain strongholds for innovative and high-quality aftermarket products, while electric vehicle adoption in Europe further influences accessory preferences. Meanwhile, Latin America and the Middle East & Africa exhibit promising potential, fueled by rising consumer aspirations and the expanding distribution networks of global manufacturers.

Market Drivers

The exterior car accessories market is propelled by a confluence of factors shaping consumer behavior and technological adoption. The foremost driver is the increasing trend toward vehicle personalization, as consumers seek unique ways to differentiate their cars through customized styling and functional upgrades. Enhanced awareness of exterior aesthetics has made accessories such as body kits, wraps, and lighting systems essential components in modern automotive design. Additionally, the expanding availability of e-commerce platforms has made it easier for consumers to explore and purchase accessories without geographical constraints, bolstering market accessibility.

Another significant growth driver lies in technological advancement and material innovation. The incorporation of lightweight and durable materials-such as carbon fiber, polycarbonate, and high-strength steel-has revolutionized accessory design. These materials not only improve performance but also align with global sustainability goals. Furthermore, smart exterior accessories like proximity sensors, advanced lighting systems, and anti-collision devices are gaining traction in response to growing safety standards. As vehicles become more connected, the integration of smart features in exterior accessories will continue to create value for both manufacturers and end-users.

Market Restraints

Despite promising growth prospects, the exterior car accessories market faces several challenges that may impede expansion. One of the primary restraints is the high cost of premium accessories, particularly those made from advanced materials or embedded with smart technologies. This cost factor often deters consumers in developing economies, limiting large-scale adoption. Additionally, counterfeit and low-quality products flooding the aftermarket create pricing pressure on genuine brands and undermine consumer trust.

Regulatory restrictions on vehicle modifications in certain regions also pose a barrier to growth. Governments and transport authorities in various countries impose strict guidelines regarding exterior alterations that could affect safety, aerodynamics, or emission performance. These regulations limit the range of products that can be legally sold and installed, particularly in regions with stringent automotive standards such as Europe. Moreover, fluctuating raw material costs and global supply chain disruptions can further impact production timelines and profit margins for manufacturers.

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Market Opportunities

The global exterior car accessories market is poised for significant expansion through emerging opportunities in electric and autonomous vehicles. As EV manufacturers seek lightweight, aerodynamic, and energy-efficient components, the demand for innovative exterior accessories is expected to surge. The adoption of eco-friendly materials and modular designs aligns well with the evolving sustainability priorities of automotive OEMs and consumers alike. Furthermore, partnerships between accessory manufacturers and electric vehicle producers present new avenues for integrated design solutions.

Another opportunity lies in the growing prominence of digital customization and AR-based design tools, allowing customers to visualize and configure accessories before purchase. This digital transformation enhances the shopping experience and boosts consumer confidence. Additionally, the flourishing aftermarket ecosystem in developing economies, supported by increasing urbanization and vehicle ownership, offers a lucrative growth frontier. Expansion into online retail and direct-to-consumer channels can further amplify sales potential, while investments in localized manufacturing and 3D printing technologies promise to streamline production and reduce costs.

Company Insights

Key players operating in the global exterior car accessories market include:

• Thule Group
• HELLA KGaA Hueck & Co.
• Oakmore Pty Ltd.
• Lund International, Inc.
• Covercraft Industries, LLC
• Classic Soft Trim
• CAR MATE MFG.CO., LTD.
• Pep Boys
• O'Reilly Auto Parts
• U.S. Auto Parts Network, Inc.
• H.I Motors
• Star Automotive Accessories

Recent Developments:

In 2024, Thule Group expanded its product range with new aerodynamic roof racks tailored for electric vehicles, emphasizing lightweight design and enhanced fuel efficiency.

3M Company introduced an advanced paint protection film featuring self-healing technology to reduce surface scratches and improve vehicle aesthetics.

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Future Opportunities and Growth Prospects

Looking ahead, the exterior car accessories market is expected to experience robust expansion driven by technological innovation, lifestyle changes, and sustainability initiatives. The integration of smart technologies and eco-friendly materials will continue to redefine product standards, while online retail and global supply chain optimization will enhance accessibility. Manufacturers focusing on digital customization tools, strategic partnerships with OEMs, and localized production will gain a competitive edge in this rapidly evolving sector.

By 2032, as the market achieves an estimated value of US$ 89.5 billion, industry stakeholders are poised to benefit from a blend of innovation, consumer engagement, and environmental responsibility-ensuring a dynamic and resilient growth trajectory for the global exterior car accessories market.

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