Car accessories majorly include the body kits, rims, car alarms and
stereo systems which enhance both the interior and exterior of cars,
trucks and other vehicles. It makes the vehicle look much more
attractive aesthetically, improves the comfort level and moreover, makes
it fun to drive along. Due to the increasing popularity of car
customization, the decorative car accessories market has become quite
established among consumers.
Ken Research, a market research firm
says, the aftermarket segment has been stacked with the highest demand
for the decorative car accessories in comparison to the original
equipment manufacturer (OEM) segment. The facilitating reasons could be
its less expensiveness with heterogeneous range of customization
available in terms of design and material types. The prominent players
in both the value chain and supply chain are the franchise-based sales
channels & the regional dealers. Recently, a new sales channel
called the phone-based application sales is growing abundantly in the
same sector. Furthermore, the strategies used for product positioning
and consumer awareness include marketing and promotion via social
platforms, trade fairs & exhibitions, motor racing events, seminars,
and print & electronic media.
The market segmentation of the
decorative care accessories industry can be done on the basis of product
types: as interior (pedals & car mats, racing seats, steering wheel
& seat covers, headrests, seatbelts, interior trims, gauges,
shifters, door sills), and exterior (racks & carriers, spoilers
& wings, mud & splash guards, sunroofs, louvers, mirrors, door
skins, suspensions, light bars, exhausts & mufflers, air intake
systems, and decals & stickers). Further it can segment on the basis
of car type: as compact, sedan, executive, SUV/MUV, luxury, and
premium. Each car type has been further analyzed based on regional and
country levels. The varied price ranges and distribution channel as a
basis of segregation can be applied as well. Regional bifurcation of the
market for decorative car accessories include North America, Latin
America, Western Europe, Eastern Europe, Asia Pacific exc. Japan (APEJ),
Japan, and Middle East & Africa (MEA). The study entails
country-level aspects based on each segment and gives estimates in terms
of market size.
Given the facts that the world economy enlarged
by just 2.2 per cent in the year 2016, and is anticipated to further
extend by only 2.7 per cent in 2017 and reach till 2.9 per cent in 2018,
it can be contemplated as a state of stagnant growth. It is not to say,
that the market growth is impeded, but rather it’s moving on a very
sedating pace of recovery indicating the state of economic stabilization
for the present as well as the future rather than a robust revival of
global demand. Moreover, the correspondence between the demand,
investment, trade and productivity coupled with the weak global growth
may prove to be self perpetuating for the Decorative Car Accessories
industry- the information has been extracted from research report “
Global Decorative Car Accessories Industry Situation and Prospects Research report 2017”.
The global market for decorative car accessories
is being majorly driven by factors such as the growing automobile
market, increasing popularity of car customization among consumers,
enhancing car aesthetics and improving comfort. Apart from these, other
factors such as the increasing rapid industrialization coupled with
urbanization in developing nations are anticipated to drive the growth
over the coming years. These factors are continuously anticipated to
push the sales of the product in the global market. However, the safe
use and disposal of automotive interiors turns out to be a significant
restraint impeding the growth of the market currently.
The
presence of the decorative car accessories industry is prominent across
all major regions of the world including North America, Western &
Eastern Europe, Asia-Pacific region, Japan, and Middle East &
Africa. The largest contributor with the highest consumer base is the
North American market which is further anticipated to witness healthy
growth rates owing to its stable automotive sales. Value additions by
suppliers and a strong sales channel would be indispensable for the
market growth. The key players identified as playing significant role in
the growth and development of the decorative car accessories industry
include Delphi Automotive, Robert Bosch GmbH, Continental AG, Denso
Corporation, Magna International, Aisin Seiki, Tenneco Inc, Federal
Mogul, 3d Carbon Automotive, Carroll Shelby International, Roush
Performance Products, Steeda Autosports, Classic Design Concepts, JC
Whitney, Driven By Style, HKS, Sparco Motor Sports, and Injen
Technology. These companies are further working on improving the product
development and market sales with providing a detailed description of
each in terms of headquarters, inception, stock listing, upcoming
capacities, key mergers & acquisitions, financial overview, and
recent developments.
Topics Covered in The Report
- Global decorative car accessories industry
- Global car accessories industry research
- Global car accessories market size
- Global car accessories market future outlook
- Global car accessories market major players
- Car accessories sales volume worldwide,
- Global car accessories market share
- Global car accessories market Growth
- Global car accessories market Trends
- Global car accessories market future
- Global car accessories market analysis
- Global car accessories market report
- Global car accessories market
- Global car accessories industry growth
- Global car accessories industry future
For more coverage click on the link below:
https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/decorative-car-accessories-prospects/86944-100.html
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Ankur@kenresearch.com +91-9015378249
