In 2022, the automotive pillar market was estimated to be worth around US$ 6,753.5 million. In the following ten years, it is anticipated to expand by 4.3% year over year. Between 2023 and 2033, the market is anticipated to grow at a strong CAGR of 4.3%. By 2033, it is projected to reach a valuation of US$ 10,690.3 million. By 2023, the global market is expected to be worth US$ 7,016.9 million.
Because of the growing carbon footprint associated with heavy vehicle use, manufacturers are using plastic composites more frequently to create automotive pillars. The market for automotive pillars has grown considerably as consumers in emerging nations have been more eager to spend on high performance cars as a result of rising disposable income. Additionally, as the number of electric car sales in China and India has increased, so has the demand for automotive parts.
As passenger car sales rise globally, particularly in wealthy countries like Germany and the U.S., there is a rising demand for automotive pillars.
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Additionally, in response to the global surge in popularity of luxury and electric vehicles, governments in certain regions are implementing tight laws to reduce carbon emissions and enhance passenger safety.
The passenger car category is predicted to be in great demand and account for more than 78% of the market between 2021 and 2031, according to the FMI’s assessment.
Competitive Landscape
KIRCHHOFF Automotive GmbH, Gestamp, Toyoda Iron Works Co., Ltd., Magna International Inc., and Aisin Seiki Co., Ltd are some prominent players operating in the automotive pillar market.
Key Takeaways from FMI’s Automotive Pillar Market Study
- By vehicle type, passenger vehicles to emerge as primary automotive pillar end-users
- Sales across the original equipment manufacturers segment are likely to surpass an impressive valuation, given the rising demand for new and advanced safety system
- The U.S. will experience noteworthy expansion amid rising sales of passenger cars in the region
- India will generate lucrative opportunities across Asia Pacific excluding Japan, backed by the stringent government regulations pertaining to passenger safety
- Rising government initiatives to curb the emission and increased electric vehicle sales will augment production capabilities across Germany
- Broadening electric vehicle market will widen automotive pillars adoption across China
- Japan and South Korea, collectively, will account for 12% of global automotive pillar market share in the year 2021.
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“Visibly increasing consumer demand for passenger vehicles and electric cars is likely to augment sales of automotive pillars. This is encouraging prominent automotive pillar manufacturers to offer sustainable solutions to keep pace with changing consumer behavior,” says a FMI analyst.
Automotive pillar Market by Category
By Vehicle Type
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
By Product Type
- Pillar A
- Pillar B
- Pillar C
- Pillar D
By Sales Channel
- Original Equipment Manufacturers (OEMs)
- Aftermarkets
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By Region
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding Japan
- Japan
- Middle East and Africa (MEA)
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