The market for automobile pillar market was predicted to be worth about US$6,753.5 million in 2022. It is predicted to grow by 3.8% yearly during the next ten years. The market is estimated to expand at a robust CAGR of 4.3% between 2023 and 2033. It is anticipated to be worth US$10,690.3 million by 2033. The estimated value of the global market in 2023 is $7,016.9 million USD.
Manufacturers now produce automotive pillars using plastic composites due to the rising carbon footprint associated with extensive vehicular use. As consumers in emerging economies have grown more prepared to invest in high performance cars as a result of increased disposable income, there is a significant increase in the demand for automotive pillars in these countries. selling of
The world’s rising passenger car sales, particularly in industrialised nations like Germany and the U.S., are boosting demand for automotive pillars.
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Moreover, governments in those places are enforcing tough laws to reduce carbon emissions and enhance passenger safety in response to the increased popularity of electric vehicles and luxury vehicles worldwide.
The passenger car category is expected to experience strong demand, accounting for more than 78% of the market share between 2021 and 2031, according to the FMI’s analysis.
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)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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