Passenger Car Accessories Aftermarket Set to Reach $248.41 Billion by 2026, According to Allied Market Research

OREGAON, PORTLAND, UNITED STATES , April 15, 2024 /EINPresswire.com/ -- As per the report published by Allied Market Research, the global passenger car accessories aftermarket was pegged at $128.97 billion in 2018, and is expected to reach $248.41 billion by 2026, growing at a CAGR of 8.5% from 2019 to 2026.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A06108

Stringent government regulations to upgrade the accessories, increase in the trend of vehicle customization, rise in disposable income, and high focus on well-being of drivers have propelled the growth of the global passenger car accessories aftermarket. However, decrease in global vehicle production, increase in trend of shared mobility, rise in raw material prices, growth in the trade war, and high automotive import tariffs impede the market growth. On the contrary, technological advancements and growth in demand for luxurious vehicles, untapped developing markets in Africa and Asia, and advancements in in-vehicle infotainment are expected to offer multiple opportunities to the market.

The global passenger car accessories aftermarket is analyzed by type, application, and region. Based on type, the market is fragmented into external accessories and internal accessories. The external accessories segment dominated the market in 2018, accounting for more than half of the total market share. On the other hand, the internal accessories segment is anticipated to portray the fastest CAGR of 9.2% from 2019 to 2026.

The external accessories segment to retain its dominance by 2026-

Based on type, the external accessories segment accounted for more than half of the global passenger car accessories aftermarket share in 2018, and is expected to rule the roost by the end of 2026. Rise in disposable income of people along with the strict vehicle acts in some of the countries are driving the growth of the segment. The internal accessories segment, on the other hand, would register the fastest CAGR of 9.2% during the study period. The fact that internal car accessories give a stylish look to the car from inside and also provides convenient and comfort features to the driver as well as co-drivers spurs the segment growth.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 - https://www.alliedmarketresearch.com/passenger-car-accessories-aftermarket-market/purchase-options

The tyres segment to rule the roost-

Based on application, the global market is categorized into roof rack, LED lights, body kits, body covers, alloy wheels, tires, car care products, window films, seat & steering covers, electronic accessories, knobs, floor mats, sunshades, car organizers, air freshener, vacuum cleaners, pillows & cushions, and others. The tires segment dominated the global market in 2018, accounting for nearly one-third of the market. In addition, the alloy wheel segment is anticipated to register the highest CAGR of 18.6% during the forecast period.

Asia-Pacific to dominate in terms of revenue, North America to grow at a moderate rate-

Region-wise, the market is analyzed across Asia-Pacific, North-America, Europe, and LAMEA. The market across Asia-Pacific held the largest share in 2018, accounting for more than half of the market. Furthermore, the region is expected to dominate the market throughout the study period. On the other hand, the LAMEA region is expected to manifest the fastest CAGR of 11.0% in between 2019 to 2026.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 -
MRF LIMITED, HYUNDAI MOBIS, BORBET, ACCURIDE CORPORATION, VALEO, HITACHI METALS LTD., FORD MOTOR COMPANY, THE GOODYEAR TIRE & RUBBER COMPANY, AUDI AG, KONINKLIJKE PHILIPS N.V., SUPERIOR INDUSTRIES, ROBERT BOSCH GMBH, VOLKSWAGEN AG, HELLA KGAA HUECK & CO., VISTEON CORPORATION, CLN GROUP, IOCHPE-MAXION, HARMAN INTERNATIONAL (SAMSUNG ELECTRONICS), AMERICAN EAGLE WHEELS, JK TYRE & INDUSTRIES LIMITED, ZIZALA LICHTSYSTEME GMBH, SUMITOM RUBBER INDUSTRIES, LTD., PANASONIC CORPORATION, CEAT LIMITED (CEAT), STANLEY ELECTRIC CO., LTD., CITIC DICASTAL WHEEL MANUFACTURING., MICHELIN, DENS CORPORATION, BRIDGESTONE CORPORATION, BMW GROUP, OSRAM LICHT AG, THE YOKOHAMA RUBBER CO., LTD., KOIT MANUFACTURING CO., LTD., PIRELLI TYRE C S.P.A. (CHINA NATIONAL CHEMICAL CORPORATION), PIONEER CORPORATION, ALPINE ELECTRONICS, INC., CONTINENTAL CORPORATION

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A06108

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 & 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐚𝐭𝐢𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/automotive-after-market - Automotive Aftermarket by Product (Wear-and-Tear Parts, Crash-Relevant Parts, Accessories, Diagnostic Products), by Distribution Channel (Offline, Online) and by Application (Consumer Vehicle, Commercial Vehicle): Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/automotive-accessories-market - Automotive Accessories Market Size, Share, Competitive Landscape and Trend Analysis Report by Component (External Component, Internal Component, Knobs, Communications System, Mats, Fragrance, Central Locking System, Dash Kits, Others), by Application (Passenger Cars, Commercial Vehicles, Two-wheelers) and by Distribution Channel (OEM, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/exterior-car-accessories-market - Exterior Car Accessories Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type (Racks, LED Lights, Body Kits, Chrome Accessories, Covers, Alloy Wheels, Window Films, Others) and by Distribution Channel (Original Equipment Manufacturer, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/roadside-assistance-market - Roadside Assistance Market By Service (Towing, Tire Replacement, Fuel Delivery, Jump Start/Pull Start, Lockout/ Replacement Key Service, Winch, Battery Assistance, Trip Routing/ Navigational Assistance, Others), By Provider (OEM, Motor Insurance, Independent Service Provider, Others), By Vehicle (Commercial Vehicles, Passenger Vehicles): Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
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