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.
Aludium, a leading European supplier of aluminium, gives the car’s window frames, roofs, and other exterior components a premium aluminium finish with its 55AT exterior trim. Aldium employs a cutting-edge filtering method during casting that not only anodizes but also illuminates the exterior trim of the vehicle. Additionally, the lead times for delivery of these products are not too long.
A similar product line created from recycled aluminium scrap has been revealed by Norsk Hydro, a Norwegian producer of aluminium. The aluminium utilised is sophisticated and contains 75% recycled consumer waste thanks to the employment of incredibly sophisticated sorting procedures. Consequently, the business was able to keep its carbon footprint within the market.
Tailor-Made Solutions: Customize Your Report to Gain a Competitive Edge in the Automotive Exterior Trim Parts Market:
https://www.futuremarketinsights.com/reports/sample/rep-gb-11934
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
OEMs and manufacturers fought to keep production lines for auto parts up and running as the virus swept throughout Asia, a good deal of Europe, and parts of North America in the first quarter of 2020.
Government warnings resulted in the closure of manufacturing plants for parts and components in a number of different countries throughout the world. Due to a drop in discretionary spending and a drop in consumer traffic, demand for car exterior parts has been drastically cut.
While asset impairments in the short term are anticipated. Thanks to quarantine policies, just-in-time production, and reduced workforce, manufacturers are currently escaping the liquidity pressure brought on by a reduction in sales.
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
Unlock Exquisite Customization and Save up to 30%: Your Path to Personalized Perfection :
https://www.futuremarketinsights.com/customization-available/rep-gb-11934
Find More Valuable Insights on Automotive Exterior Trim Parts Market:
In its latest market research study, FMI provides an objective overview of the market for automobile exterior trim parts, including a global industry analysis for 2015–2019 and a chance evaluation for 2020–2030. Through four main categories – By Product Type, By Vehicle Type, By Sales Channel, and Region – the study provides comprehensive analysis on the global automotive exterior trim components market. The study on the global market for automotive exterior trim parts offers data on pricing based on various life cycle analyses, product life cycles, significant market trends, technologies used in the manufacture of automotive exterior trim parts, and product adoption in numerous end-use industries.
About Us
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.
Contact:
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
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn | Twitter | Blogs
