The global car cover market value is expected to rise from USD 853.8 million in 2024 to USD 1,103.7 million by 2034. This estimated growth is expected to be driven by a CAGR of 2.60% in the car cover industry over the next decade. Increasing car ownership is expanding the potential market for car covers.
Harsh weather conditions are a potent driver for the car cover industry. Car owners are concerned about vehicle protection from the damaging effects of different weather elements. This is creating demand for car covers as they offer a waterproof barrier. Manufacturers are also offering specialized car covers made to endure hail and sleet, meanwhile preventing these weather events from making any dents and dings on the car body.
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Manufacturers are providing options for personalization and customization of car covers to oblige individual customer preferences like material, color, and design. This endeavor is expected to capture a niche market of buyers who seek distinct and aesthetically pleasing covers.
“Market participants are focusing their resources to develop custom-fit car covers to capture the emerging customer segment,” says an analyst of Future Market Insights.
Key Takeaways from the Car Cover Market Report
- The car cover market in 2019 attained a valuation of US$ 758.4 million. In 2023, the car cover industry accumulated a valuation of US$ 824.2 million. Throughout this period, the market grew at a CAGR of 2.1%.
- The conventional car covers segment is expected to be a leading product type. The segment is estimated to attain a 59.3% market share in 2024.
- Based on type, the custom car cover is anticipated to hold a prominent value share of 29.3% in 2024.
- The United States car cover market is assessed to register a CAGR of 1.7% through 2034.
- Spain is expected to exhibit a growth rate of 2.1% through 2034.
- In Asia Pacific, India and China are projected to record CAGRs of 5.6% and 5.1%, respectively, through 2034.
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Car Cover Market Analysis by Country
Competitive Analysis
Key players in the car cover market are making investments in research and development activities to widen their product portfolios. Leading companies are also taking a range of strategic initiatives to expand their global footprint, such as contractual agreements, mergers and acquisitions, new product launches, and collaboration or partnerships with other organizations.
Market contenders are also offering cost-effective products to thrive in an increasingly competitive market environment. A key business strategy adopted by manufacturers of car covers is to reduce operating costs by manufacturing locally. This helps benefit clients and enhance the car cover sector.
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Key Players:
- Covercraft
- California Car Cover Co.
- Polco Creations Pvt Ltd.
- Coverwell
- Classic Additions Ltd.
- Rampage Products
- Xuantai
- Others
New Releases in the Car Cover Market
- In January 2022, the Y&Y store, launched a ‘vinoya’ automatic automobile cover that are suitable for all weather conditions. These theft-and-water covers can be opened with a push of a button.
- In August 2021, the introduction of Covercraft Industries LLC’s line of multi-layer car cover textiles for different vehicle types, like sedans, trucks, MUVs, and SUVs were announced. The 5-layer outdoor/indoor car covers and 3-layer moderate weather covers provide an automobile the much-needed defense from outside and dust elements.
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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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