Global Passenger Car Accessories Market Overview
According to SPER Market Research, the Global Passenger Car Accessories Market is estimated to reach USD 487.78 billion by 2033 with a CAGR of 10.21%.
Passenger Car Accessories improve the comfort, convenience, and functionality of automobiles. These additions are designed to meet the individual demands and preferences of automobile owners, and they include a variety of characteristics. Seat coverings, floor mats, and sunshades are examples of interior additions that aim to improve passenger comfort. Audio systems and Bluetooth connectivity, for example, improve the driving experience. Exterior modifications such as spoilers, roof racks, and window visors improve both appearance and usefulness. Car alarms, parking sensors, and dash cams are examples of safety and security features. By personalising automobiles, these accessories allow car owners to customise their vehicles while also adding value and convenience.
Exploring the Growth Drivers of the Global Passenger Car Accessories Industry.
The worldwide passenger car accessories market has grown significantly as a result of a variety of causes. One of these aspects is growing customer awareness of the value of car accessories in improving comfort, convenience, and safety while driving. Consumers are increasingly interested in personalising and upgrading their automobiles with a variety of accessories such as seat coverings, floor mats, car audio systems, navigation systems, and entertainment systems. Furthermore, the increase of the middle-class population and the rise in disposable incomes in emerging nations have aided the growth of the passenger vehicle accessories industry. People with greater disposable means are more inclined to spend in extras that not only improve the appearance but also the functioning of their automobiles.
What challenges does the Global Passenger Car Accessories Market face?
The Passenger Car Accessories Market has a number of challenges that impede its growth and effectiveness. The challenges facing the Global Passenger Car Accessories Market encompass multiple aspects. Firstly, the price and affordability of car accessories pose a significant hurdle, making them inaccessible to many due to their high cost. This limitation particularly affects developing countries and budget-conscious consumers. Secondly, car accessories require regular maintenance, such as cleaning, part replacement, and software updates, to ensure optimal performance. Additionally, ensuring compatibility with different car models and brands is another challenge, considering their unique specifications and requirements. Overcoming these challenges is crucial for the growth and effectiveness of the passenger car accessories market.
In what ways has the COVID-19 pandemic affected Global Passenger Car Accessories Market?
The COVID-19 pandemic has had a significant impact on the global passenger car accessories market, leading to notable changes in the industry Due to lockdowns, travel restrictions, and diminished economic activity, the COVID-19 pandemic has lowered demand for passenger automobile accessories. This drop is due to decreasing car usage and sales, which reduces the need for accessories such as trip organisers, entertainment systems, car chargers, and interior items. Furthermore, the epidemic has shifted consumer interests towards health, hygiene, and safety. This shift has raised demand for automotive accessories that focus on safety and cleanliness, such as sanitization products, seat coverings, steering wheel covers, and air purifiers. Consumers now prioritise keeping their automobiles germ-free, reflecting their increased emphasis on personal well-being when travelling.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Application, By Sales Channel.
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| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
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| Companies Covered | Audi, BMW, Jaguar Land Rover, Volksvagen Group, AG Roush Performance, Classic Soft Trim, Cover Craft Industries LLC, JCA Fleet Services, Lloyd Mats, Pecca Group Berhad, Robert Bosch GmbH, Star Automotive Accessories, U.S. Auto Parts Network, Others.
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Key Target Audience:
- Academic Institutions
- Environmental Consulting Firms
- Government Agencies
- Healthcare Facilities
- Industrial Companies
- Residential Users
Global Passenger Car Accessories Market Segmentation:
1. By Application:
- Global Passenger Car Accessories Market Value Share and Forecast, By Application, 2023-2033
- Interior Accessories
- Exterior Accessories
2. By Sales Channel:
- Global Passenger Car Accessories Market Value Share and Forecast, By Sales Channel, 2023-2033
- Aftermarket
- OEM
3. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Global Passenger Car Accessories Market Size (FY’2023-FY’2033)
- Overview of Global Passenger Car Accessories Market
- Segmentation of Global Passenger Car Accessories Market By Application (Interior Accessories, Exterior Accessories)
- Segmentation of Global Passenger Car Accessories Market By Sales Channel (Aftermarket, OEM)
- Statistical Snap of Global Passenger Car Accessories Market
- Growth Analysis of Global Passenger Car Accessories Market
- Problems and Challenges in Global Passenger Car Accessories Market
- Competitive Landscape in the Global Passenger Car Accessories Market
- Impact of COVID-19 and Demonetization on Global Passenger Car Accessories Market
- Details on Recent Investment in Global Passenger Car Accessories Market
- Competitive Analysis of Global Passenger Car Accessories Market
- Key Players in the Global Passenger Car Accessories Market
- SWOT Analysis of Global Passenger Car Accessories Market
- Global Passenger Car Accessories Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Passenger Car Accessories Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Passenger Car Accessories Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Passenger Car Accessories Market
7. Global Passenger Car Accessories Market, By Application (USD Million)
7.1. Global Passenger Car Accessories Market Value Share and Forecast, By Application, 2023-2033
7.2. Interior Accessories
7.2.1. Electrical Systems
7.2.2. Floor Carpets and Mats
7.2.3. Infotainment System
7.2.4. Seat Covers
7.2.5. Security Systems
7.2.6. Others
7.3. Exterior Accessories
7.3.1. Alloy Wheels
7.3.2. Body Kits
7.3.3. Covers
7.3.4. Crash Guards
7.3.5. LED Lights
7.3.6. Racks
7.3.7. Window Films
7.3.8. Others
8. Global Passenger Car Accessories Market, By Sales Channel (USD Million)
8.1. Global Passenger Car Accessories Market Value Share and Forecast, By Sales Channel, 2023-2033
8.2. Aftermarket
8.3. OEM
9. Global Passenger Car Accessories Market Forecast, 2019-2033 (USD Million)
9.1. Global Passenger Car Accessories Market Size and Market Share
10. Global Passenger Car Accessories Market, By Application, 2019-2033 (USD Million)
10.1. Global Passenger Car Accessories Market Size and Market Share By Application (2019-2026)
10.2. Global Passenger Car Accessories Market Size and Market Share By Application (2027-2033)
11. Global Passenger Car Accessories Market, By Sales Channel, 2019-2033 (USD Million)
11.1. Global Passenger Car Accessories Market Size and Market Share By Sales Channel (2019-2026)
11.2. Global Passenger Car Accessories Market Size and Market Share By Sales Channel (2027-2033)
12. Global Passenger Car Accessories Market, By Region, 2019-2033 (USD Million)
12.1. Global Passenger Car Accessories Market Size and Market Share By Region (2019-2026)
12.2. Global Passenger Car Accessories Market Size and Market Share By Region (2027-2033)
12.3. Asia-Pacific
12.3.1. Australia
12.3.2. China
12.3.3. India
12.3.4. Japan
12.3.5. South Korea
12.3.6. Rest of Asia-Pacific
12.4. Europe
12.4.1. France
12.4.2. Germany
12.4.3. Italy
12.4.4. Spain
12.4.5. United Kingdom
12.4.6. Rest of Europe
12.5. Middle East and Africa
12.5.1. Kingdom of Saudi Arabia
12.5.2. United Arab Emirates
12.5.3. Rest of Middle East & Africa
12.6. North America
12.6.1. Canada
12.6.2. Mexico
12.6.3. United States
12.7. Latin America
12.7.1. Argentina
12.7.2. Brazil
12.7.3. Rest of Latin America
13. Company Profile
13.1. Audi
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. BMW
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Jaguar Land Rover
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Volksvagen Group
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
