Jan 31, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Automotive Decorative Exterior Trim Market.
It was estimated prior to this unanticipated outbreak that the Automotive Decorative Exterior Trim Market is likely to witness a CAGR of 3.0% during the forecast period. Increasing automobile production along with shifting consumer preference towards improving the aesthetics of vehicles, growing demand for high-end luxury vehicles, rising vehicle sales, and rapid growth in the automotive aftermarket are some of the major factors accelerating the market growth during the forecast period.
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Automotive decorative exterior trim is basically used to protect the vehicle from any unwanted damage that can be caused by the surroundings of the automobile and increase the aesthetic appeal of the vehicle by adding some objects or items to the exterior of an automobile, such as door handle trim, logo, bumper cover, and stickers.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the application type, the market is segmented as daylight opening, around lamp, door upper trim, windows, and others. Around lamp is projected to account for the major share of the market. Ongoing enhancements in vehicle aesthetics coupled with excellent fit and finish of the product is positively influencing the market during the forecast period.
Based on the vehicle type, the market is segmented as PCV, LCV, and HCV. PCV is estimated to witness significant growth rate in the market on account of its substantial production across the globe during the forecast period. In addition, LCV is estimated to account for a significant share of the market, attributed to high product usage in windows and doors, fueling the overall industry growth during the forecast period.
Based on the distribution channel type, the market is segmented as OEM and aftermarket. Aftermarket is estimated to witness significant growth rate in the market on account of the increasing number of accidents and lower product cost across the world. These trims are susceptible to damage from inclement weather conditions and accidents, snowballing the requirement for replacement, fueling the segment’s growth during the forecast period.
In terms of regions, Asia-Pacific is estimated to hold the major share of the market with India, China, and Indonesia being the major countries with lucrative growth opportunities owing to substantial vehicle production in the region during the forecast period. On the other hand, Europe is estimated to witness significant growth rate in the market with Italy, Spain, and Poland being the growth engines of the region, boosting the overall market growth over the forecast period.
Key players operating in the global Automotive Decorative Exterior Trim market are-
- Altuglas International SA
- Autoneum Management AG
- CIE Automotive SA.
- Dura Automotive Systems
- IAC Group, LLC
- Magna International, Inc.
- National Plastic Technologies Ltd.
- SRG Global, Inc.
- Takata Corporation
- TK Holdings, Inc
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Automotive Decorative Exterior Trim analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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