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Automotive Chrome Accessories Market

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Automotive Chrome Accessories Market -Your Auto Trim Destination
Automotive chrome accessories are vehicle trim parts that enrich the vehicle’s esthetic
appearance. Automotive chrome accessories are pre-eminent items that are composed of variant
conventional materials such as hard metals, chromium, plastic, and fiber. These accessories
include vehicle parts such as front grill, door handles, mirror covers, fog lamp covers,
automotive body moldings, bumper trim, tail light covers, wheel skins, and fuel doors.
Rapid rise in sales and production of vehicles across the globe is likely to boost the automotive
chrome accessories market during the forecast period. Furthermore, the emerging trend of
enhanced overall vehicle appearance is another significant factor that is anticipated to drive the
automotive chrome accessories market during the forecast period. Automotive chrome
accessories improve the vehicle resistance along with appearance. Increasing trend of vehicle
modification among vehicle users, especially those in developing countries, is anticipated to
boost the automotive chrome accessories market during the forecast period. Additionally, rise in
demand for light weighting of the vehicle and light materials that are utilized to manufacture
automotive chrome accessories is expected to offer lucrative opportunities to auto manufacturers
and original equipment manufacturers during the forecast period. However, shorter lifespan and
higher replacement rate of automotive chrome accessories are projected to hamper the market
during the forecast period.
The automotive chrome accessories market can segmented based on product, vehicle type, sales
channel, and region. In terms of product, the automotive chrome accessories market can be
classified into door handle, mirror cover, front grill, automotive body molding, tail light cover,
fuel door, and others. Door handle and automotive body molding segments account for a
prominent share of the market. Expansion of these segments is primarily attributed to regular
replacement rate and higher cost of these accessories. Moreover, minor accidents of the vehicle,
sometimes, leads to the replacement of these accessories.
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In terms of vehicle type, the automotive chrome accessories market can be split into passenger
vehicle and commercial vehicle. The passenger vehicle segment leads the automotive chrome
accessories market due to higher production and sale of passenger vehicles around the world.
Surge in living standards and decline in car loan rate in developing countries are key factors that
are anticipated to propel the segment of the market during the forecast period.
Based on sales channel, the automotive chrome accessories market can be divided into original
equipment manufacturers (OEMs) and aftermarket. The aftermarket segment holds a major share
of the automotive chrome accessories market due to higher replacement rate and shorter lifespan
of few vehicle trim parts such as mirror covers, front grill, and taillight covers. Furthermore,
rising trend of vehicle customization is also projected to drive the aftermarket segment of the
market during the forecast period.
Based on region, the automotive chrome accessories market can be segmented into North
America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific holds a
dominant share of the global automotive chrome accessories market. Expansion of the market in
the region is primarily due to higher vehicle production in the countries of the region, especially
in China, India, Japan, South Korea, and Indonesia. Furthermore, increasing presence of auto
manufacturers and equipment manufacturers, owing to inexpensive labor and land rates, is
attracting foreign investment. This is projected to fuel the automotive chrome accessories market
in the region during the forecast period.
Prominent players operating in the global automotive chrome accessories market include Hella
KGaA Hueck & Co., Hutchinson, Covercraft Industries, LLC, Thule Group, TOYODA GOSEI
Co., Ltd., LUND INTERNATIONAL, Magna International Inc., DURA Automotive Systems,
and Techsaaz Solutions LLP.
Author
monali raghu
monali raghu349   documents Email
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