Automotive Exterior Trim Parts Market

According to a new report published by Introspective Market Research, titled, “Automotive Exterior Trim Parts Market by Product Type, Vehicle Type, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2024–2032,” 

the global Automotive Exterior Trim Parts Market size was valued at $ 23.31 billion in 2023, and is projected to reach $ 37.43 billion by 2032, registering a CAGR of 5.4% from 2024 to 2032.

Exterior accessories refer to various accessories and functional hard or soft upholstery on the surface of the vehicle. These are car parts that have internal and external functions and add to the look of the car as well as the smooth ride. Some exterior trim details include bumpers, grilles, mirrors, door handles, moldings, fenders, and spoilers. These components work hand-in-hand, each shaping the appearance of the vehicle and imparting key features such as safety and visibility, strength. The exterior trim details of the car are meant to emphasize the design of the vehicle, but they match the design mood of a particular car brand. For example, bumpers not only protect the front and rear of the car from small impacts but also provide large, constantly noticeable, recognizable design elements in the design of the car.

According to the Automotive Exterior Trim PartsMarket is segmented into Product Type, Vehicle Type, Sales Channel, and Region. By Product Type, the market is categorized into Front Bumpers, Rear Bumpers, Outside Rear-View Mirrors (ORVM), Rocker Panels (Under Panels), Radiator Grills, Wheel Arch Claddings (Fender Liners), Outside Door Handles, Exterior Car Door Trims, Mud Guards, and Exterior Trim Parts. By Vehicle Type, the market is categorized into Passenger Cars, Commercial Vehicles, and Heavy Trucks and Buses. By Sales Channel, the market is categorized into First Fit and Replacement. By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

The use of lighting devices and electronic components in the design of interior parts is an important emerging factor in the automotive exterior end market. This trend involves integrating lightweight items and electronic components into the exterior to beautify the structure and add versatility. The best part is the LED lighting in every interior, including headlights, taillights, and DRLs. LED technology is known for the following advantages: LED consumes less energy compared to other lamps; LEDs have a long service life; unlike other light bulbs, LEDs can be easily melded and shaped to fit different stops. A significant part of their designs is the use of exterior lighting, integrating LEDs into parts of the exterior trim to create elegant lights that contribute to the branding and style of the car in addition to functional lighting use. This integration is not just for the flash, because the other features of the car include e.g. sensors, cameras, connectivity solutions, etc.

Significant growth in vehicles such as SUVs and crossovers can be seen as a major opportunity in this market. These are vehicles that have gained significant traction in the global market primarily due to their flexibility, spaciousness and safety features. With growing market trends where consumers increasingly prefer SUVs and crossovers, updated exterior enhancements are required for better looks and usability. This creates a favorable market base for car exterior parts such as various accessories and other related products that fit into one or more of the vehicles mentioned. As vehicles grew, their exteriors expanded, and lighting and other equipment became more adventurous and adaptable. That's why car manufacturers and aftermarket companies offer a wide range of exterior accessories such as roof rails, side steps, grille guards and wheels.

Global Automotive Exterior Trim Parts Market, Segmentation

The Automotive Exterior Trim Parts Market is segmented based on Product Type, Vehicle Type, and Sales Channel, and region.

Product Type:

The Product Type segment is further classified into Front Bumpers, Rear Bumpers, Outside RearView Mirrors (ORVM), Rocker Panels (Under Panels), Radiator Grills, Wheel Arch Claddings (Fender Liners), Outside Door Handles, Exterior Car Door Trims, Mud Guards, and Exterior Trim Parts. Among these, the Front Bumpers sub-segment accounted for the highest market share in 2023. Product segmentation is also an important aspect in the car exterior trim market, where front bumpers can be elevated to a segment that can be considered a leader in terms of consumption and importance. Front bumpers are safety components that are used to protect the front of the car, so they require strong metal to provide effective protection for the car. The front bumper also has other important functions which include adding aesthetic value to the vehicle as most of them are often seen on the outside of the car. When it comes to front bumpers, car manufacturers usually tend to give them a distinctive look of the car brand, and that is why stylists consider them very important. In addition, Front Bumpers wear out very often due to dents and so on, so there is a constant need for replacement and used parts.

Vehicle types:

The vehicle types segment is further classified into Passenger Cars, Commercial Vehicles, and Heavy Trucks and Buses), Sales Channel (First Fit, and Replacement. Among these, the SUV sub-segment is anticipated to show the fastest growth by 2032. The SUV segment leads the automotive exterior trim cat by vehicle type as shown in the following figure. Car consumers around the world are interested in SUVs (Sport Utility Vehicles) because of their flexibility, more space and perceived safety. This popularity is directly reflected in the demand for exterior trim components, as SUV users retain the desire and ability to customize and enhance the appearance and functionality of their cars. The elements of the exterior covering of SUVs are mostly relatively closely related to their increased surface area and structural features that allow additional accessories to be installed in addition to additional parts. Manufacturers also provided an extensive list of SUV accessories available from automakers or aftermarket specialists, including roof rails, side steps, grille guards and radar moldings.

Region:

The Automotive Exterior Trim Parts Market in Europe is projected to show the fastest growth by 2032. North America is the leading consumer of automotive exterior trim components for a number of reasons related to a strong automotive industry and consumer demands for advanced technology. First, North America has a strong and developed automotive market for manufacturers and suppliers, but many new/future OEMs in automotive exterior trim. The region's automotive industry has advanced manufacturing technology, quality human resources in production, and an excellent logistics chain network, all of which help provide quality exterior trims for both export and local markets. Second, North America was the market leader in automotive exteriors due to new technology introduced in the industry. The region is very innovative and innovations are important in areas such as material technology, design technology and production processes.

Some of The Leading/Active Market Players Are-

• Continental AG (Germany)
• Faurecia SA (France)
• Flex-N-Gate Corporation (United States)
• Gestamp Automoción SA (Spain)
• Grupo Antolin (Spain)
• Hella GmbH & Co. KGaA (Germany)
• Huayu Automotive Systems Co., Ltd. (China)
• Inteva Products, LLC (United States)
• KIRCHHOFF Automotive GmbH (Germany)
• Magna International Inc. (Canada) and Other Active Players

Key Industry Developments

• In April 2024, Continental, a leading tire manufacturer, announced the acquisition of EMT Púchov s.r.o., a renowned mold manufacturing specialist based in Slovakia. All shares of EMT Púchov s.r.o. transferred to Continental. EMT Púchov s.r.o., a long-standing supplier to Continental, was majority-owned by Dynamic Design, based in Romania. The acquisition includes the transfer of all 107 employees, each of whom brings specialist knowledge and expertise in mold manufacturing to Continental. This strategic acquisition reinforces Continental's commitment to enhancing its manufacturing capabilities and expanding its footprint in the tire production industry.
• In July 2023, losing patent exclusivity for Entresto was another blow by Novartis, and this may similar to what is experienced by various firms that deals in automotive exterior trim parts. Similar to Novartis’ loss of a physical patent which affects its sales revenue, disruptions in the field of intellectual property rights have consequences for the ability of automakers to sustain their domination in markets and reap from trim part designs.

Key Findings of the Study 

• The global Automotive Exterior Trim Parts Market was valued at $23.31 billion in 2023 and is projected to reach $37.43 billion by 2032, with a CAGR of 5.4% from 2024 to 2032.
• The market is driven by the demand for exterior accessories that enhance vehicle aesthetics, functionality, and safety, including bumpers, grilles, mirrors, and door handles.
• Significant growth in the SUV and crossover segments presents a major opportunity, as these vehicles require updated exterior enhancements.
• A key trend in the market is the integration of LED lighting and electronic components into exterior trim parts, adding versatility and improving vehicle design and functionality.