The car covers market growth is likely to register a CAGR of 2.5% during the forecast period, up from US$ 798.6 Mn in 2022 to reach a valuation of US$ 1074.03 Mn by 2032.
The global car covers market is expected to develop at a rapid pace throughout the forecast period, owing to rising demand for cars, particularly automobiles, as a result of rising consumer disposable income and wide variances in customer living standards.
Car covers helps to protect the exterior paint and refinish texture of the car from losing its shine and fading. Also it can protect the car from the harmful sunrays, which can damage the interior electronic system the car, such as air conditioning, car stereo and mechanism.
There are different types of car covers available in the market, which made up of different materials and use for the different purpose, hence the manufacturer focuses on the adoption of new technologies to introduce new product with advance technologies.
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Car Covers Market: Dynamics
The major factor driving the car covers market is the increasing awareness regarding the safety of the vehicle among individuals or car owners. As car covers protect the car from various factors such as, bird poop, tree leaves, stones and other small materials, it also protect the car paint and electronic system of car from harmful sunrays. Owing to all this application and advantages of car covers, its demand is growing at fast pace.
The other factors which have the impact on the growth of car covers market are growth in automotive industry, growing automotive equipment industry, growing demand of car covers due to increasing global warming and changing climate, increasing demand of cars owing to improvement in standard of leaving and other factors.
However, there are some small disadvantages or we can say the demerits of the usage of car covers, such as it may damage the paint of the car due to the friction between car cover and car, if it does not fit properly.
The prominent players involved in the manufacturing of car covers are focusing on the introduction of automatic and semi-automatic car covers. Automatic Car covers are the new trend in the car covers market and expected to capture the significant amount of market in the future. Also the semi-automatic car covers are attracting the end users and creating more opportunistic market.
Car Covers Market: Regional outlook
Considering regions, the market of Car covers are anticipated to lead by East Asia during the forecast period due to the reason that growing automotive industry, increasing adoption of new technologies and also the presence of various car covers providers in this region driving this market.
Europe is anticipated to robust growth owing to a growing awareness regarding safety of the vehicle and increasing demand of car covers in Germany and rest of the Europe. The North America is the significant emerging market of car covers and expected to witness, double-digit growth, in terms of revenue.
Substantial car covers production is expected in the Latin America market, owing to the growing adoption of new technologies and increasing number of local vendors in this region. The car covers market in Middle East and Africa is estimated to witness relatively stable growth.
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Key Segments
By Product Type:
- Conventional
- Automatic
- Semi-Automatic
By Type:
- Custom car cover
- Universal car covers
By Application:
- Individual and Vehicle Manufacturers
- 4S store
By Sales Channel:
- Online Shopping Portals
- Automotive OEM Centers
- Independent Aftermarket Vendors
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- MEA
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