Future Market Insights, an ESOMAR certified market research firm, in its latest study on the automotive exterior trim parts marketsize will reach a valuation of US$ 30.3 Billion at CAGR of 4.7% by the end of the year 2030.
Recyclable and Lightweight Materials Finds its Takers
Manufacturers place a strong emphasis on sustainability and lightweighting when designing exterior trim components.
With its 55AT external trim, Aludium, a significant European producer of aluminium, gives the window frames, roofs, and other cosmetic components of the car a high-end aluminium finish. During casting, Aldium uses a cutting-edge filtering technique that not only anodizes but also illuminates the car’s outside trim. Additionally, these products have relatively quick lead times for delivery.
Norsk Hydro, a Norwegian aluminium producer, has unveiled a comparable product line made from recovered aluminium scrap. Thanks to the use of extremely advanced sorting techniques, the aluminium used is not only sophisticated but also contains 75% recycled consumer waste. The company has thus been able to keep its carbon footprint within the market.
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The market for automotive exterior trim components will continue to see an increase in body aesthetics due to newer trends including the integration of cutting-edge connection systems in exterior body sections of vehicles and weight reduction.
Automotive Exterior Trim Parts Market Outlook & Key Findings
- Automotive exterior trim parts market to grow at a CAGR of 4.6% through 2030
- Sales in top 3 countries collectively accounted for nearly 46% of overall market in 2019
- Compression molded composites touted to be 20%-30% lighter than aluminium will gain traction in new generation of vehicles
Key Takeaways of Automotive Exterior Trim Parts Market
- Achieving light-weighting by 40%, aluminum in body panels to remain preferred over steel
- With 54% volume share in automotive production in 2018, China, India and Australia will witness high demand for automotive exterior trim parts
- A drop by 200-250 BPS is anticipated for the market amidst the ongoing pandemic with recovery anticipated in the first quarter of 2022
- High focus on aesthetics in the mid-size passenger car segment to give traction to sales
Automakers Suspend Operations to Keep COVID-19 at Bay
As the virus spread throughout Asia, a good portion of Europe, and portions of North America in the first quarter of 2020, OEMs and manufacturers struggled to maintain production lines for car parts up and running.
Government advisories led to the closure of parts and component facilities in a number of different nations worldwide. Demand for car exterior parts has been significantly reduced as a result of a decline in discretionary expenditure and decreased consumer traffic.
While short-term asset impairments are anticipated. For the time being, manufacturers are avoiding the liquidity pressure caused by a decline in sales thanks to quarantine measures, just-in-time production, and decreased staff.
Automotive exterior trim parts Market: Segmentation
Product type
- Front Bumper
- Rear Bumper
- Outside Rear View Mirror (ORVM)
- Rocker Panel (Under Cover)
- Radiator Grills
- Wheel arch Cladding (Fender Liner)
- Outside Door Handles
- Exterior Car Door Trim
- Mud Guard
- Exterior trims parts
Vehicle Type
- Passenger Cars
- Compact
- Mid-size
- Luxury
- Sedan
- SUVs
- Commercial Vehicles
- Heavy Trucks and Buses
Sales Channel
- First Fit
- Replacement
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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Find More Valuable Insights on Automotive Exterior Trim Parts Market:
FMI in its new market research study, offers an unbiased analysis of the automotive exterior trim parts market which comprises global industry analysis for 2015–2019 and opportunity assessment for the 2020–2030. The report offers complete analysis on global automotive exterior trim parts market through four different categories – By Product Type, By Vehicle Type, By Sales Channel and region. The global automotive exterior trim parts market study provides information of pricing by different life cycle analysis, product life cycle, key market trends and technologies which are being implemented in the production of the automotive exterior trim parts and product adoption in varied end use industries.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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