Automotive Trim Market to Reach $43.35 Bn, Globally, by 2027 at 6.9% CAGR: Allied Market Research
PORTLAND, Oregon, June 16, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Automotive Trim Market by Material Type (Acrylonitrile Butadiene Styrene (ABS), Polypropylene (PP), Polyoxymethylene (POM), Thermoplastic Elastomer (TPE) and Others), Internal Application (Dashboard, Door panel and Others), External Application (Bumpers, Window & door seals and Others ), Vehicle Type (ICE Passenger Vehicle, ICE Commercial Vehicle, Battery Electric Vehicle, Hybrid Electric Vehicle, and Plug-in Hybrid Electric Vehicle), and End Use (Original Equipment Manufacturers and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global automotive trim industry generated $25.68 billion in 2019, and is estimated to reach $43.35 billion by 2027, growing at a CAGR of 6.9% from 2020 to 2027.
https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
Download Report Sample (312 Pages PDF with Insights, Charts, Tables, Figures) @ https://www.alliedmarketresearch.com/request-sample/6661
Drivers, restraints, and opportunities-
Rise in demand for luxury and comfort measures in vehicles and surge in production of automobiles drive the growth of the global automotive trim market. However, high replacement cost, risein trade war, and rise in automotive import tariffs hinder the market growth. On the other hand, increase in demand for lightweight components and untapped developing markets create new opportunities in the coming years.
COVID-19 Scenarios-
-- The global automotive industry has been at a standstill due to the
lockdown, which disrupted the manufacturing processes of automotive trim
as well. On the other hand, the declined consumer demand for automotive
trim has affected the revenues of the global automotive trim market.
-- On the other hand, automotive parts suppliers in various regions are
much dependant on migrant workers. However, the absenteeism of these
workers anticipates to slow down the restoration post lockdown.
-- Moreover, the disruption in the product supply chain creates a number of
difficulties for Original Equipment Manufacturers (OEMs) in the
automotive industry.
Get detailed COVID-19 impact analysis on the Automotive Trim Market @ https://www.alliedmarketresearch.com/request-for-customization/6661?reqfor=covid
The bumpers segment to maintain its dominant share throughout the forecast period-
Based on exterior applications, the bumpers segment accounted for the highest market share in 2019, contributing to more than two-fifths of the global automotive trim market, and is expected to maintain its dominant share throughout the forecast period. Furthermore, the segment is estimated to portray the highest CAGR of 7.1% from 2020 to 2027. As it offers less damage to the vehicle during accidents which drives the growth of the segment.
The original equipment manufacturers segment to continue its leadership position during the forecast period-
Based on end-use, the original equipment manufacturers segment contributed to nearly two-thirds of the global automotive trim market in 2019, and is estimated to continue its leadership position during the forecast period. In addition, the segment is anticipated to portray the fastest CAGR of 7.4% from 2020 to 2027. This is due to the factor that majority of trims are equipped in vehicles during the time of manufacturing.
Interested to Procure The Data? Inquire here @ https://www.alliedmarketresearch.com/purchase-enquiry/6661
Asia-Pacific to dominate the market throughout the forecast period, North America to grow significantly-
Based on region, Asia-Pacific held nearly one-third of the global automotive trim market in 2019, and is expected to maintain its lion's share throughout the forecast period. This is due to an increased level of vehicle fleet across the Asia-Pacific countries. Nevertheless, Europe region is anticipated to manifest the fastest CAGR of 7.8% from 2020 to 2027. This is due to the wider adoption of different vehicles which leads the growth of the market in this region. Moreover, North America region is expected to grow at a CAGR of 7.2% during the forecast period.
Leading market players
-- Intenational Automotive Components
-- Kasai Kogyo Co., Ltd.
-- STS Group
-- Toyata Boshoku Corp.
-- Trinseo
-- TS Tech Co. Ltd
-- Draexlmaier Group
-- Dura Automotive Systems Inc.
-- Gemini Group Inc.
-- GRONBACH
-- Grupo Antolin
Schedule a Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/6661
Similar Report We Have:
Automotive Interiors Market: The global automotive interiors market was valued at $171,200.3 million in 2017, and is projected to reach $249,785.4 million by 2025, registering a CAGR of 4.7% from 2018 to 2025.
Exterior Car Accessories Market: The Global Exterior Car Accessories Market Is Segmented Based On Product Type Such As Racks, Led Lights, Body Kits, Chrome Accessories, Covers, Alloy Wheels, Window Films, And Others.
Passenger Car Accessories Aftermarket: The global passenger car accessories aftermarket size was valued at $128.97 billion in 2018, and is projected to reach $248.41 billion by 2026, registering a CAGR of 8.5% from 2019 to 2026.
Automotive Door Panel Market: The global automotive door panel market was valued at $24,115.1 million in 2017, and is projected to reach at $34,158.6 million by 2025, growing at a CAGR of 4.4% from 2018 to 2025.
Automotive Seat Market: The automotive seat market size was valued at $71,651.20 million in 2017, and is projected to reach $101,397.20 million by 2025, registering a CAGR of 4.3% from 2018 to 2025.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn |
View original content:http://www.prnewswire.com/news-releases/automotive-trim-market-to-reach-43-35-bn-globally-by-2027-at-6-9-cagr-allied-market-research-301077485.html
SOURCE Allied Market Research
