The global automotive exterior trim parts market in 2022 was US$ 21.03 billion and is estimated to be US$ 42.5 billion in 2023. According to Future Market Insight, the automotive exterior trim parts market is estimated to expand at a CAGR of 4.0% between 2023 and 2033, totaling around US$ 62.9 billion by 2033.
Market Drivers:
Vehicle Customization: Consumer demand for personalized vehicle aesthetics and customization options drives the market for aftermarket exterior trim parts, including aftermarket grilles, spoilers, body kits, and decorative accents.
Safety and Compliance: Stringent safety regulations and crashworthiness standards mandate the use of impact-resistant materials and energy-absorbing designs for exterior trim parts, such as bumper systems, to ensure occupant safety and compliance with regulatory requirements.
Aesthetic Design Trends: Evolving design trends and consumer preferences influence the demand for stylish exterior trim components, such as chrome accents, LED lighting elements, and sleek body lines, which enhance the visual appeal and brand identity of vehicles.
Weight Reduction: Automotive manufacturers focus on lightweighting initiatives to improve fuel efficiency and reduce emissions, driving the adoption of lightweight materials, such as aluminum, high-strength steel, and composite plastics, in exterior trim parts to minimize vehicle mass.
Request a Sample of this Report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-11934
Market Challenges:
Cost Pressures: Cost considerations, including material costs, tooling expenses, and production complexities, pose challenges for automotive suppliers and OEMs seeking to balance performance and aesthetics with cost-effectiveness in exterior trim part designs.
Supply Chain Disruptions: Disruptions in the global supply chain, including raw material shortages, price volatility, and transportation challenges, may impact the availability and cost of exterior trim materials and components, affecting production schedules and pricing.
Quality and Durability: Ensuring the quality, durability, and longevity of exterior trim parts under various environmental conditions, including exposure to UV radiation, temperature extremes, and road debris, requires rigorous testing, validation, and quality assurance processes.
Market Trends:
Advanced Materials: Adoption of advanced materials, such as carbon fiber composites, thermoplastics, and lightweight metals, enables innovative and lightweight designs for exterior trim parts while maintaining structural integrity and impact resistance.
Integrated Electronics: Integration of electronic features, sensors, and connectivity capabilities into exterior trim parts, such as smart mirrors with cameras, turn signal indicators, and blind-spot detection systems, enhances functionality, safety, and driver assistance features.
Sustainable Solutions: Growing emphasis on sustainability drives the adoption of eco-friendly materials, recyclable plastics, and bio-based composites in exterior trim part manufacturing, aligning with environmental initiatives and circular economy principles.
Digital Manufacturing: Digital design and manufacturing technologies, including 3D printing, additive manufacturing, and virtual prototyping, enable rapid iteration, customization, and cost-effective production of complex and lightweight exterior trim components.
Competition Landscape
The automotive exterior trim parts industry consists of consequential market players. Further, research and development for the introduction of environment-friendly product lines form the core aspect of these manufacturers. In addition to that, other expansion strategies, inclusive of collaborations, mergers and acquisitions, and exploration of regulatory approvals, are also relied upon.
Some of the prominent players profiled in the global market are-
- AISIN Group
- CIE Automotive
- DURA Automotive Systems
- Ficosa Internacional SA
- GEDIA Automotive Group
- GRONBACH
- Hayashi Telempu Corporation
- IDEAL Automotive
- KASAI KOGYO Co. Ltd.
- KKIRCHHOFF Automotive
Direct Purchase of this Report:
https://www.futuremarketinsights.com/checkout/11934
Key Segments of Automotive Exterior Trim Parts Industry Survey
The Automotive Exterior Trim Parts Market by Product:
- Front Bumpers
- Rear Bumpers
- Outside Rear View Mirrors (ORVM)
- Rocker Panels (Under Panels)
- Radiator Grills
- Wheel Arch Claddings (Fender Liners)
- Outside Door Handles
- Exterior Car Door Trims
- Mud Guards
- Exterior Trim Parts
The Automotive Exterior Trim Parts Market by Vehicle Type:
- Passenger Cars
- Compact
- Mid-size
- Luxury
- Sedan
- SUV
- Commercial Vehicles
- Heavy Trucks & Buses
The Automotive Exterior Trim Parts Market by Sales Channel:
- First Fit
- Replacement
The Automotive Exterior Trim Parts Market by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East & Africa (MEA)
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube