The car cover market is projected to exhibit modest growth over the forecast period, with a compound annual growth rate (CAGR) of 2.6%. The market value of car covers is anticipated to increase from US$ 853.8 million in 2024 to US$ 1,103.7 million by 2034.
The global market for car covers is expected to expand quickly over the course of the projected period due to factors such as growing consumer disposable income, notable differences in customer living standards, and growing demand for cars, particularly automobiles.
The car cover market is examined alongside the car rental service market and the car seat and accessories market. Understanding insights from these related markets enables market players to explore opportunities for expanding their product offerings or diversifying their business ventures.
Over the forecast period, the car rental service market is projected to surpass the growth rate of both the car cover and car seat and accessories markets, with an expected expansion at a compound annual growth rate (CAGR) of 7.2%.
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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.
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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.
Key Players Are:
- Covercraft
- California Car Cover Co.
- Polco Creations Pvt Ltd.
- Coverwell
- Classic Additions Ltd.
- Rampage Products
- Xuantai
- Others
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
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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