The global automotive cowl screen market size is projected to be valued at USD 451.9 Million in 2022 and is likely to exhibit steady growth at a CAGR of 8.2% in the forecast period from 2022 to 2032. Increasing production and sales of passenger cars, as well as commercial vehicles are estimated to drive the demand for automotive cowl screens in future.
As per FMI, the automotive cowl screen market is likely to reach USD 713.6 Million in 2032. The easy availability of automotive cowl screens made of various types of materials, such as carbon fiber, aluminum, stainless steel, fiberglass, and polymer worldwide is another crucial factor that is expected to aid growth.
| Report Attribute | Details |
|---|---|
| Automotive Cowl Screen Market Estimated Base Year Value (2021) | USD 386.4 Million |
| Automotive Cowl Screen Market Expected Market Value (2022) | USD 451.9 Million |
| Automotive Cowl Screen Market Anticipated Forecast Value (2032) | USD 713.6 Million |
| Automotive Cowl Screen Market Projected Growth Rate (2022 to 2032) | 8.2% CAGR |
Automotive cowl screen is referred to as a hood-shaped covering surface present in every vehicle. It is mainly made up of coefficient thermal expansion materials.
The ability of such screens to regulate the air to and fro in the automobile with the help of their double air vents is projected to push sales of automotive cowl screens in future years. These screens enable the smooth distribution of air in the interior of a vehicle’s Heating, ventilating, and Air Condition (HVAC) system.
Further, automotive cowl screens are usually covered with air permeable materials that help in preventing the transfer of liquids. Key players are nowadays focusing more on the development of unique materials to provide a better aesthetic to vehicles.
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Ongoing expansion of the automotive industry in both developed and developing countries is one of the major factors that is set to propel the global automotive cowl screen market growth in the upcoming years. At the same time, the auto components aftermarket is anticipated to grow at a fast pace as several key players are engaging in the sales of reworked or refurbished products, such as automotive cowl screens.
Moreover, the availability of relatively low cost products, especially in emerging economies is likely to boost the market. Rising production of cost-effective HVAC systems and surging adoption of eco-friendly refrigerants are a couple of other vital factors that are likely to spur the global market growth.
The COVID-19 pandemic has had a negative effect on the sales of automotive cowl screens since it started back in December 2019. It had lowered production of automotive, as well as multiple components owing to lockdown norms and temporary shutdown of manufacturing facilities. However, the market is slowly recovering from the pandemic-induced losses as more and more component manufacturers have started entering worldwide.
Also, the availability of counterfeit products in the aftermarket is anticipated to hinder sales of OEMs as the former products are cheaper than original ones. People in emerging economies prefer low-cost components with the lack of knowledge and reduced income levels.
In terms of region, North America is anticipated to remain at the forefront by accounting for the largest automotive cowl screen market share in future. The presence of a well-established automotive industry and the urgent need for passenger, as well as driver safety measures in the USA and Canada are expected to augment the regional market.
Increasing consumer preference for durable panels, presence of various prominent manufacturers, and high disposable income are some of the other factors that are likely to accelerate the North America market.
As per the USA Department of Transportation, in 2019, around 10,893 vehicles were manufactured in the USA, out of which, 13,677 vehicles were sold in the country. These numbers are projected to grow at a rapid pace in the near future, thereby augmenting the North America market.
As per FMI, Europe is projected to remain in the second position in terms of share during the forthcoming years. The presence of leading automotive component manufacturers in Germany, Italy, and the UK is one of the crucial factors that is expected to foster the demand for automotive cowl screens across Europe.
Rising demand for aluminum automotive cowl screens is another major factor that is likely to accelerate the market. According to the European Automobile Manufacturers Association (ACEA), in 2021, approximately 9.9 million passenger cars were manufactured in the European Union, which showcased a decline of 7.7%, as compared to 2020.
The drop mainly occurred due to the aftereffects of the COVID-19 pandemic. However, the market in Europe is anticipated to gradually get back to normalcy in the assessment period.
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Some of the renowned companies operating in the global automotive cowl screen market include Valeo, Bright Brothers Ltd., RESTOPARTS, Alsons Group, Dorman Products, Original Equipment Reproduction, and Sherman & Associates Inc. among others.
The majority of the leading players are aiming to expand their product portfolios and enhance their distribution networks by adopting various organic and inorganic strategies. They are mainly focusing on partnerships, joint ventures, agreements, and mergers & acquisitions to gain a competitive edge in the global market. Meanwhile, a few other key players are engaging in research and development activities to launch innovative products for the automotive industry.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 8.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Volume, USD Million, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Vehicle Type, Material Type, Sales Channel, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Valeo, Bright Brothers Ltd.; RESTOPARTS; Alsons Group; Dorman Products; Original Equipment Reproduction; Sherman & Associates Inc. |
| Customization | Available Upon Request |
The global automotive cowl screen market is set to exceed USD 713.6 Million in 2032.
North America is set to lead the automotive cowl screen market in the forecast period.
Valeo, Bright Brothers Ltd., RESTOPARTS, Alsons Group, Dorman Products, Original Equipment Reproduction, and Sherman & Associates Inc. are some of the renowned companies in the automotive cowl screen market.
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