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Passenger Car Accessories Market Projected to Garner Significant Revenues by 2026 -end
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Various types of security systems such as central lock, gear lock, GSM security, and power lock are helps to park the car securely. Global passenger car accessories market is anticipated to exhibit a significant CAGR over the forecast period.
Passenger Car Accessories Market: Drivers and restraints
Global Car accessories market can be driven by following factors. Regulatory bodies mainly responsible for enforcement of laws. According to National Highway Traffic Safety Administration (NHTSA) of U.S., a used or new regulated motor vehicle parts such as tires, rims, brake hoses, seat belt assemblies, motor cycle helmets, gas container, triangular reflective warning devices etc. should be originally manufactured. These accessories must be replace according to the life span. There is a drastic change in consumer demographics, such as increase in income levels and change in the life style trends enables drive the global passenger car accessories market.
However, Advanced technologies obviously costlier than the conventional accessories, which may be bottleneck for the global passenger car accessories market.
Passenger Car Accessories Market: Overview
The demand of car accessories market is increasing due to changing the life style of people. Most of the people are inclined towards advanced electronic gadgets such as music systems, video players in their cars. Electronic devices has Play a pivot role in car accessories market. The global passenger car accessories market is expected to account for a double digit growth rate over the forecast period.
Passenger Car Accessories Market: Region-Wise Outlook
Global market is segmented into seven key regions: Those are North America, Eastern Europe, Latin America, Asia Pacific Excluding Japan, Western Europe, Japan, Middle East and Africa.
North America is expected to dominate the global passenger car accessories market due to the high awareness among the people in the countries like US and Canada. European region anticipated account robust market share due to its advanced life style and demographics. Asia Pacific in terms of market share of passenger car accessories market owing to the rise of automobile industry in the countries like japan, China and India. Global passenger car accessories market is expected to have a significant CAGR as well as annual growth over forecast period.
Passenger Car Accessories Market: Key players
Some of the key players are
Toyota
Hyundai Motor Group
Honda
FORD Motor, Inc.
Renault
Nissan
General Motors
Volkswagen Group
BMW
AUDI
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