The automotive skid plate market will register a CAGR of about 15% by 2023

NEW YORK, June 13, 2019 /PRNewswire/ -- About this market

The growth in the availability of body design accessories at authorized dealers is fueling the growth of the global automotive skid plate market in the forthcoming years. As, the more skid plates are being offered by the automakers, which is driving the sales at the dealer level and contributing to the overall growth of the automotive skid plate market. Furthermore, most of the automakers have increased the offerings of accessories for SUV, pickup trucks, and CUV at the dealer level because of the growing consumer base for large vehicles that have capabilities for off-road driving. Our analysts have predicted that the automotive skid plate market will register a CAGR of about 15% by 2023.

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Market Overview

Growing sales of utility vehicles

The SUV and pickup trucks are usually provided with skid plates as standard or option by the automaker, as the SUV is designed to use on uneven terrains, for off-roading activities, and such surfaces can damage the underbody components of the vehicle. Hence, the growth in their sales volume is driving the growth of the market.

Bulkiness and heaviness of steel skid plates

The automotive skid plates can be made using different materials such as steel, aluminum, and re-enforced elastomer blends. The skid plates that are manufactured using steel are provided with a coating of faux silver or black finish to make it look more rugged and tough. However, steel skid plates are heavy in weight and occupy more space, which adds to the overall weight of the vehicle.

For the detailed list of factors that will drive and challenge the growth of the automotive skid plate market during 2019-2023, view our report.

Competitive Landscape

The market appears to be fragmented and with the presence of several companies including All-Pro Offroad and Asfir Technologies Ltd., the competitive environment is quite intense. The players operating in the global motorcycle skid plate market have been working on the use of advanced material for skid plate design and manufacturing. This technological development is expected to drive the revenue generation of the overall market during the forecast period. Cycra Inc., RCI Offroad, Ricochet Off-Road, Setina Manufacturing Inc., and Zone Offroad Products. are some of the major companies covered in this report.

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