Automotive Skid Plate Market

Increase In Longevity Of Vehicles Is Likely To Be A Key Growth Factor For The Global Automotive Skid
Plate Market
A skid plate is an erosion-resistant substance attached to the bottom of a vehicle to thwart damage to
the base when it comes in contact with the ground. Skid plates are primarily used on off-road vehicles as
well as low ground clearance vehicles to avoid damage to the base of the vehicle. Often fake skid plates
are added to vehicles to give them an off-road look.
The lifespan of a vehicle increases if a skid plate is used. This increase in longevity of vehicles is likely to
be a key growth factor for the global automotive skid plate market. Since skid plates safeguard the
underneath of the vehicles, its use is likely to minimize the issues related to serious damage to vehicle
parts. Moreover, the skid plates offer safety to fuel tanks, transfer cases, oil pans, trans pans,
differentials, steering boxes, and control arms, thereby providing safety and increasing the longevity of
the vehicles.
The number of holes in vent systems can be reduced with one of the significant innovations in skid
plates where the skid plates are produced using only one piece of metal as a replacement for many
small pieces. These factors eventually protect the engine from overheating by reducing the quantity of
debris and mud going into the engine. Skid plates improve the aerodynamics of the engine as well. As
the demand for skid plates rises, innovations in the field will also gain momentum, thereby boosting the
demand further. These factors are expected to drive the overall market for automotive skid plates in the
coming years.
Get PDF Sample with Latest Advancement
@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=25619
The global automotive skid plate market can be segmented on the basis of vehicle type and geography.
By vehicle type, the global automotive skid plate market can be divided into SUVs, pickup trucks,
adventure motorcycles, ATVs, and others. In 2016, the SUVs vehicle segment held the maximum share
of the global automotive skid plate market. The overall automotive industry is observing a consumer
shift toward the SUV category of vehicles from sedans or premium hatchbacks. Skid plates are a vital
part of SUVs as these vehicles are primarily used for off-road activities. Moreover, availability as well as
demand for SUVs is on the rise with easy financing options. Factors including safeguarding of critical
components of a vehicle and a rise in the longevity of vehicles are likely to encourage the growth of this
industry segment during the forecast period.
In terms of geography, the global automotive skid plate market can be segmented into North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the maximum market
share of the global automotive skid plate market in 2016. Factors such as rising preference for off-road
vehicles, increase in tourism, off-road races, and adventure enthusiasts are the major reasons for the
dominant position of the market. Moreover, rise in the prevalence of adventure motorcycles are likely
to be one of the key growth factors for the growth of the automotive skid plate market in this region.
Owing to the presence of a considerable number of aftermarket players, this market is highly
fragmented and as all the players compete to gain substantial revenue shares, the market is fairly
competitive. One of the key market players Setina Manufacturing Company offers VAS or value-added
services to its customers through partnerships with other vendors and maintaining standards. Setina
Manufacturing Company uses high-tech computerized CNC or Computer Numerical Control machinery
that increases the overall speed of the manufacturing process.
Some of the key players operating in the global automotive skid plate market are All-Pro, Setina
Manufacturing Company, Offroad, RCI Metalworks, PELFREYBILT, Relentless Off-Road Fabrication, and
BudBuilt.

Download Report