The global truck bedliners market is likely to secure a market value of USD 500.80 Million in 2022 and is expected to accumulate a market value of USD 777.73 Million by registering a CAGR of 4.5% in the forecast period from 2022 to 2032.
The growth of the truck bedliner market can be attributed to increases in the transportation and logistics industry across the globe. The market for truck bedliner registered a CAGR of 3.5% in the historical period 2016 to 2021
The safety of bulk cargo is paramount for personal and commercial use. Thus, protection regulations have led manufacturers to incorporate safety devices and components into their vehicles. The development of the automotive industry across the globe is creating lucrative opportunities for truck bedliners. Thus, the Truck Bedliners market has witnessed several developments throughout the years and expects multiple variations in the near future.
Truck bedliners protect the interior of a truck bed and provide a nonslip surface. The demand for truck covers is increasing in the automotive industry due to the surge in the production of medium and heavy-duty trucks. In particular, Asia Pacific, North America, and Europe remain important target markets for truck bed suppliers.
Furthermore, rising disposable income and increasing urban population drive the global truck bedliners market. Also, the increasing concerns about comfort and safety, rising demand for luxury, and adoption of advanced technologies in the automotive industry are fueling market growth.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2022) | USD 500.80 Million |
| Anticipated Forecast Value (2032) | USD 777.73 Million |
| Projected Growth Rate (2022 to 2032) | 4.5% CAGR |
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According to market research and competitive intelligence provider Future Market Insights- the market for truck bedliner reflected a value CAGR of 3.5% during the historical period, 2017 to 2021.
Although the COVID-19 pandemic affected the demand for truck bedliners in the initial quarter, the urgent requirement for the transportation of medical equipment positively impacted the demand for truck bedliners.
As most end-user industries are functioning smoothly post-pandemic, the demand for truck bedliner is expected to increase in the forecast period. Thus, the market for truck bedliner is expected to register a CAGR of 4.5% in the forecast period 2022 to 2032.
Multi-purpose application of truck bedliners spurring the growth of the market
Truck Bedliners provide protection to the inside of a truck bed from damage while also providing an antiskid layer to keep the cargo in place. The increasing application of these products in other applications apart from coating truck beds is expected to spur sales throughout the forecast period.
Spray-on Bedliners are long-lasting and reliable, and thus they can be utilized to protect additional sections of the fender or rear bumper. These bedliners are an attractive alternative for truck enthusiasts because of their customizable design and implementation capabilities, which have contributed to their rising use.
Prevention of exterior coating increasing adoption of Truck Bedliners
The exterior coating is designed to provide improved protection and prevent damage while driving through extreme weather conditions. The increasing demand for exterior coating has encouraged market players to provide these services.
The drop-in bedliner has been witnessing advancements as manufacturers are focusing on improving product quality by providing several variants in an attempt to increase their market share. Apart from this, the increasing pickup truck sales and the rising usage of polyurea in spray-on bedliners are expected to propel the growth of the market. These changing market dynamics are anticipated to spur sales in the coming years.
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Lack of Knowledge affecting the application and usage of truck bedliners
Although the nature of the truck bedliner is user-friendly, the do-it-yourself (DIY) method does not serve the purpose always. Lack of knowledge of using spray-on can damage the same and immediate investment is required.
Moreover, depending on the nature of the product, truck bedliners peel off or get damaged in shorter periods. All these factors are hampering the growth of the truck bedliner market.
Truck Accessories easing Transportation Process in North America
In North America, automobile sales are dominated by utility vehicles such as pickup trucks, crossovers, and sport-utility vehicles (SUVs). This is due to the increased versatility of these vehicles, which allows them to be used for both personal and commercial purposes.
Owing to the growing demand for these trucks, truck accessories are becoming more prominent. As a result, the market for truck bedliners in the region will expand in tandem with the growth of pick-up truck sales.
In addition, the growth of the transport and logistics market is another factor increasing the sales of vehicles. This, in turn, is increasing the demand for truck bedliners. Thus, North America is expected to possess a 40% market share of the truck bedliners market.
Trade of Essential Commodities leading to growth in demand for Truck Bedliners in Europe
The increased requirements of safety equipment like PPE kits and medicines have led to a rise in the usage of trucks for the delivery of important cargo. In addition, as the situation has improved in many European countries, the trade of essential commodities has increased providing an impetus for the growth of the truck bedliners market in the region.
Many countries in Europe were severely impacted by the COVID-19 crisis, which has led to declining in economic activities. The onset of COVID-19 led to disruptions in supply chain operations, the shutting down of manufacturing facilities, and huge economic losses caused by lockdowns.
However, post-pandemic, the situation of the market has improved as manufacturers of automotive vehicles are investing more in designing the carrier space effectively. Thus, Europe is expected to possess a 35% market share of the truck bedliners market in 2022.
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Presence of End User Industries shaping the landscape for the truck bedliner market
Major countries in North America, such as the USA and Canada, have a huge industrial base and favorable government policies to boost innovation, and they highly adopt industrial automation solutions. The USA is a prominent market for cybersecurity solutions in several industries.
The country consists of the maximum number of truck bedliners platform developers. Hence, any negative impact on the region's economy or industry growth hinders the businesses of companies operating in the region. In Q1 2020, due to the COVID-19 pandemic, the slump in industrial/manufacturing activities and new projects across the USA, Canada, and Mexico negatively impacted the growth of the truck bedliners market in respective countries.
Mexico is the seventh-largest passenger vehicle manufacturer and the fifth-largest auto parts producer worldwide. Expansion of the regional aftermarket is anticipated to boost the truck bedliners market growth in the region. Thus, the USA is expected to register a CAGR of 4% for truck bedliners in the forecast period 2022 to 2032.
Heat dissipation capability enhancing the growth of truck bedliners in Germany
Germany is expected to be a significant region in the bedliners market during the forecast period, owing to the rapidly rising automobile production and sales across the region. Manufacturing companies in this region focus on developing better bedliners by reducing bedliner size and enhancing heat dissipation capability.
Due to the increasing demand for trucks, the requirement for truck accessories is rising. As a result, the bed truck market in the region will grow together with the growth in pickup truck sales. Thus, Germany is expected to register a 4.5% CAGR for truck bedliners in the assessment period 2022 to 2032.
Inexpensive nature bolstering demand for drop-in truck bedliners
Drop-in bedliners are the most prevalent and commonly found forms. Drop-ins can generally be mounted quickly without any major modifications to the truck's bed other than drilling a few holes in specific points to keep it in place.
These bedliners are less expensive than their counterparts and also allow ease of operation as they can be easily removed for the purpose of cleaning or otherwise. The main factor driving the sales of these products is their rigid structure and ease of installation. Thus, drop-in bedliners are expected to possess a 45% market share for truck bedliners in 2022.
Appealing finish attracting consumers to invest in Spray-Our Bedliners
Spray-on Bedliners consist of various types. Their application varies based on the selection of formulation or the type of coating. The aromatic coating is typically applied to dark colors like black. On the other hand, Aliphatic coating offers a variety of colors including a metallic finish.
Customers prefer these bedliners as they can be applied in a way that matches their vehicle’s color thereby delivering an appealing finish. Regardless of the formulation and type, these spray-on bedliners provide protection to the inside of the truck bed from harsh weather conditions while at the same time providing an aesthetic look to the vehicle. Thus, spray-on bedliners are usually preferred by truck enthusiasts. Thus, spray-out bedliners are expected to possess a 35% market share for truck bedliners in 2022.
Many leading manufacturers and suppliers are focusing on expanding their business through collaborations and acquisitions. Manufacturers are investing in product development in order to bolster demand and improve sales. Key players in the truck bedliners market are Aeroklas, Rhino Linings, Toff Liner, Panda Corporation, LINE-X, Homestead Products, Ultimate Linings, Industrial Polymers, Scorpion, Rugged Liner, and Dual Liner
| Report Attribute | Details |
|---|---|
| Market Value in 2022 | USD 500.80 Million |
| Market Value in 2032 | USD 777.73 Million |
| Growth Rate | CAGR of 4.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in 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 | Product Type, Application, Region |
| Regions Covered |
North America; Latin America; Europe; South Asia; East Asia; Oceania; Middle East and Africa |
| Key Countries Profiled |
USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, Malaysia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled |
Aeroklas; Rhino Linings; Toff Liner; Panda Corporation; LINE-X; Homestead Products; Ultimate Linings; Industrial Polymers LLC; Rugged Liner; DualLiner |
| Customization | Available Upon Request |
From 2017 to 2021, the truck bedliner market grew at a CAGR of 3.5%
The global truck bedliner market is expected to grow with a 4.5% CAGR from 2022 to 2032
As of 2032, the truck bedliner market is expected to reach USD 777.73 Million
Drop-in bedliners are expected to possess a 45% market share for truck bedliners in 2022.
Spray-out bedliners are expected to possess a 35% market share for truck bedliners in 2022.
North America is expected to possess a 40% market share for the truck bedliners market.
Europe is expected to possess a 35% market share for the truck bedliners market in 2022.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type 5.1. Drop-in Bedliners 5.2. Spray-on Bedliners 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Material 6.1. Polyurethanes 6.2. Aluminium Carpet 6.3. Other 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. South Asia 7.5. East Asia 7.6. Oceania 7.7. Middle East and Africa (MEA) 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Aeroklas 17.2. Rhino Linings 17.3. Toff Liner 17.4. Panda Corporation 17.5. LINE-X 17.6. Homestead Products 17.7. Ultimate Linings 17.8. Industrial Polymers LLC 17.9. Rugged Liner 17.10. DualLiner 18. Assumptions & Acronyms Used 19. Research Methodology
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Truck Bedliners Market
