According to a new report published by Introspective Market Research, titled, Exterior Car Accessories Market by Product Type, The Global Exterior Car Accessories Market Size Was Valued at USD 49.10 Billion in 2023 and is Projected to Reach USD 93.35 Billion by 2032, Growing at a CAGR of 7.4%. The Exterior Car Accessories Market encompasses a wide range of products designed to enhance the functionality, aesthetics, and protection of vehicles. These accessories include items such as car covers, spoilers, roof racks, and more, which not only improve the vehicle's appearance but also provide practical benefits like increased storage and protection against environmental elements. The growing trend of vehicle customization and the increasing demand for enhanced vehicle performance are driving the market's expansion.
As consumers become more conscious of their vehicle's appearance and functionality, the demand for high-quality exterior accessories continues to rise. Major industries utilizing these products include automotive, transportation, and logistics, where the need for durable and stylish accessories is paramount. The market is characterized by innovation, with manufacturers continuously developing new products to meet evolving consumer preferences.
The Exterior Car Accessories Market is segmented into Product Type, Material, and Distribution Channel. By Product Type, the market is categorized into (Car Covers, Spoilers, Roof Racks, etc.). By Material, the market is categorized into (Plastic, Metal, Fabric, etc.). By Distribution Channel, the market is categorized into (Online, Offline).
One key growth driver for the Exterior Car Accessories Market is the increasing consumer preference for vehicle personalization. As more individuals seek to express their unique style through their vehicles, the demand for customized exterior accessories has surged. This trend is particularly prominent among younger consumers who view their cars as an extension of their personality.
A significant market opportunity lies in the rise of electric vehicles (EVs). As the automotive industry shifts towards sustainable transportation, the demand for specialized exterior accessories tailored for EVs is expected to grow. This presents a lucrative opportunity for manufacturers to innovate and develop products that cater specifically to the needs of EV owners.
Exterior Car Accessories Market, Segmentation
The Exterior Car Accessories Market is segmented on the basis of Product Type, Material, and Distribution Channel.
Product Type
The Product Type segment is further classified into Car Covers, Spoilers, and Roof Racks. Among these, the Car Covers sub-segment accounted for the highest market share in 2023. Car covers provide essential protection against weather elements, dust, and scratches, making them a popular choice among vehicle owners.
Material
The Material segment is further classified into Plastic, Metal, and Fabric. Among these, the Plastic sub-segment accounted for the highest market share in 2023. Plastic accessories are favored for their lightweight, durability, and cost-effectiveness, making them a preferred choice for many consumers.
Some of The Leading/Active Market Players Are-
- Thule (Sweden)
- WeatherTech (USA)
- Covercraft Industries (USA)
- Westin Automotive Products (USA)
- AutoZone (USA)
- EGR Group (Australia)
- Lund International (USA)
- Rhino-Rack (Australia)
- Smittybilt (USA)
- AVS (Auto Ventshade) (USA)
- Rigid Industries (USA)
- T-Rex Grilles (USA)
- Bushwacker (USA)
- other active players.
Key Industry Developments
- In January 2024, Thule launched a new line of eco-friendly car covers made from recycled materials.
This innovative product aims to meet the growing consumer demand for sustainable automotive accessories while maintaining high-quality standards. - In March 2024, WeatherTech announced a partnership with a leading electric vehicle manufacturer to develop custom-fit exterior accessories.
This collaboration is set to enhance the functionality and aesthetics of electric vehicles, tapping into the expanding EV market.
Key Findings of the Study
- Dominant segments include Car Covers and Plastic materials.
- Leading regions are North America and Europe.
- Key growth drivers are vehicle personalization and the rise of electric vehicles.
- Market trends indicate a shift towards sustainable materials and innovative designs.
- The market is projected to grow significantly, reaching USD 93.35 Billion by 2032
