The global decorative car accessories market is expected to expand from USD 252,595.1 million in 2023. The market is projected to reach USD 443,896.4 million by 2033, showcasing a CAGR of 5.8% through 2033.
Globally, decorative car accessories are in high demand due to two major requirements of vehicle owners improving their vehicles' look and comfort level. Due to the growing automotive industry around the world, the market is expected to flourish. As vehicle sales increase and consumers spend more on vehicle ornaments, the market is likely to grow in the forecast period.
| Attribute | Details |
|---|---|
| Decorative Car Accessories Market Value (2023) | USD 252,595.1 million |
| Decorative Car Accessories Market Anticipated Forecast Value (2033) | USD 443,896.4 million |
| Decorative Car Accessories Market Projected Growth Rate (2023 to 2033) | 5.8% |
The aftermarket segment is more likely to demand decorative car accessories than the original equipment manufacturer (OEM) segment. The aftermarket segment is less expensive and offers a wider variety of design and material options.
Due to the increasing sales of passenger cars, the decorative car accessories market may gain substantial momentum during the forecast period. The decorative car accessories market may be able to grow greatly as the customization of cars continues to garner considerable attention among a large population.
The decorative car accessories market is expected to grow at a profound rate as attractive accessories are readily available and various advantages associated with them are becoming increasingly apparent. The accessories on a car give it a smart look. Additionally, some accessories protect the car from certain damages. In this regard, decorative car accessories may serve as prominent growth generators.
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However, the low demand from commercial vehicle owners and the presence of local vendors are major challenges that may hinder the growth of the decorative car accessories market soon.
A noticeable market share of 19.5% is estimated to be captured by North America in the global decorative car accessories market. In terms of the consumer base, the North American decorative car accessories market is the largest contributor.
As a result of stable automotive sales, the market is expected to grow at a healthy rate. There would be a volume-driven market in all regions and car types. An effective sales channel and value additions by suppliers would be key requisites.
The European decorative car accessories market has shown healthy growth and may hold 28% of the global market. Increasing sales of passenger cars in the region is a result of soaring consumer affordability and increased expenditure on upgrading and customizing vehicles.
Moreover, consumers' growing desire to give their cars a more appealing appearance is another factor that will likely drive the market growth in Europe.
Additionally, car accessories that are pet-friendly are laying the red carpet for growth in the European decorative accessories market. As the adoption of pets grows across European countries, the decorative car accessories market may see significant growth acceleration.
How is the Start-up Ecosystem in the Decorative Car Accessories Market?
Dealers often create their brands/accessories in conjunction with their parent OEMs, forming a strategic alliance. Product positioning and consumer awareness are extensively promoted through social platforms, trade fairs & exhibitions, motor racing events, seminars, and print & electronic media.
Recent Developments in the Decorative Car Accessories Market
Due to the heightened awareness about sustainability among the global population, the wave of sustainability has also reached the decorative car accessories market. The players are also banking on green car accessories to increase the popularity of their products among consumers. There has been a significant increase in the popularity of eco-friendly car seats made from bamboo fibers. Furthermore, these seats are bacteria-resistant as well as environmentally friendly. Approximately 85 percent of the materials used in Audi A3 seat covers are recycled plastic bottles. The decorative car accessory market has positive growth prospects as a result of such developments.
The major players, including manufacturers & suppliers identified across the global value chain, are:
Amongst others, there are prime regional manufacturers, such as:
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.8% from 2023 to 2033 |
| Base Year for Estimation | 2023 |
| Historical Data | 2016-2021 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Product Type, By Vehicle Type, By Distribution Channel, By Region |
| Regions Covered | North America; Latin America; The Asia Pacific; Middle East and Africa; Europe |
| Key Countries Profiled | The United States, Canada, Brazil, Argentina, Germany, The UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, GCC, South Africa |
| Key Companies Profiled | Delphi Automotive; Robert Bosch GmbH; Continental AG; Denso Corporation; Magna International; Aisin Seiki Co. Ltd.; Tenneco Inc.; Federal-Mogul Corp. |
| Customization | Available Upon Request |
The global sales of decorative car accessories to surge at 5.8% CAGR through 2033.
The global decorative car accessories market holds a net value of around USD 252,595.1 million in 2023.
North America currently accounts for nearly 20% of the decorative car accessories sold worldwide.
Europe decorative car accessories market is forecasted to hold 28% market share by 2033.
Rising production and sales of electric vehicles to drive the growth.
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Decorative Car Accessories Market
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