Market Research Future (MRFR) has published a cooked research report on the “Global SUV and truck exterior and outdoor accessories Market”that contains the information from 2019 to 2032.
The SUV and truck exterior and outdoor accessories market is estimated to register a CAGR of 5.6 % during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global SUV AND TRUCK EXTERIOR AND OUTDOOR ACCESSORIES market—Thule Group, Yakima, Inc., INNORACKS USA, WeatherTech, SportRack, ARB, Rhino Rack Australia Pty Limited, Westin Automotive Products, Inc., RockyMounts, StowAway Cargo Carriers., EGR USA, The RoofBox Company, Smittybilt Inc., MAXTRAX Pty Ltd ATF and CURT Manufacturing LLC.
Market Highlights
The global SUV AND TRUCK EXTERIOR AND OUTDOOR ACCESSORIES market is accounted for to register a CAGR of 5.6 % during the forecast period and is estimated to reach USD 13,071.9 million by 2032.
The growing demand for adventure and outdoor activities is one of the significant factors contributing to the growth of the SUV and truck exterior and outdoor accessories market. Due to an increase in consumer interest in natural exploration, recreational activities, and road trips, there is also a high demand for SUVs and trucks that offer multi-configurations and are capable of off-road driving. This is being driven by a change in lifestyle towards enjoying the outdoors: camping, hiking, biking, and similar activities. Due to this, people have started to invest more in accessories for their vehicles that increase functionality and improve their look, such as roof racks, towing, and off-road lighting. Also, consumers are purchasing rugged exterior enhancements like skid plates and fender flares for better performance on rough terrain. This increasing fascination with outdoor adventure not only drives the sale of SUVs and trucks but also accelerates the demand for specialized accessories, creating a significant niche market for adventure-ready vehicles.
Further, the increasing sales of SUVs and trucks significantly drive the market for exterior and outdoor accessories. As consumers gravitate towards these larger vehicles for their versatility, space, and off-road capabilities, the demand for accessories that enhance functionality and aesthetics grows. Accessories such as roof racks, towing equipment, and custom bumpers are becoming essential for SUV and truck owners who seek to maximize their vehicle's utility for outdoor activities like camping, biking, and off-roading. Additionally, the trend of personalizing vehicles has led to a surge in demand for aesthetic upgrades, including LED lighting, fender flares, and custom paint jobs. This growth is further fueled by a lifestyle shift towards adventure and outdoor exploration, prompting consumers to invest in accessories that complement their vehicles. As the SUV and truck market continues to expand, the exterior and outdoor accessories segment is poised for robust growth, catering to the evolving needs and preferences of vehicle owners.
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Segment Analysis
The global SUV AND TRUCK EXTERIOR AND OUTDOOR ACCESSORIES market has been segmented based on Product Type, Application, Vehicle Propulsion and Sales Channel.
Based on product type, the global SUV and Truck Exterior and Outdoor Accessories Market has been segmented into exterior accessories and outdoor accessories. The exterior accessories are further segmented into nude bars, side steps, front/rear guard, cargo barrier and dividers, pet guards, and others. Whereas, the outdoor accessories segment includes roof rack, bike rack, roof box, ski rack, canoe/kayak carriers, and others. Exterior accessories account for the largest market share, as these accessories increase the usability, safety, and appearance of a car making them useful to owners of SUVs and trucks that seek to modify the look of their vehicles and add functionality.
Based on application, the global SUV and Truck Exterior and Outdoor Accessories Market has been segmented into SUVs and Truck. In 2023, the truck segment accounted for the largest market share. Trucks can be used both as working vehicles and off-road vehicles which makes it possible to install a lot of accessories that would improve functionality, efficiency, and durability of the vehicle.
Based on Vehicle Propulsion, the Global SUV and truck exterior and outdoor accessories is segmented into ICE and Electric. The ICE vehicle segment is still a powerful leader within the SUVs and trucks category and keeps on stimulating the demand for car exterior and outdoors accessories. ICE vehicles which run on gasoline or diesel are currently in demand, especially in areas where there is poor charging infrastructure for EVs. Largely, customers who own ICE-powered SUVs and trucks which they use for cross-country travel, off-roading, or commercial purposes, always look for accessories that provide utility in addition to the much-needed physical shield.
Based on Sales Channel, the Global SUV and truck exterior and outdoor accessories is segmented into OEM and Aftermarket. In the SUV and truck accessories market, the third-party suppliers and retailers’ segment remains high. Aftermarket products are generally cheaper than OEM and come with a wider product selection and are also used for more customization purposes.
Regional Analysis
By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. North America consists of the U.S, Canada, and Mexico. In North America, the aftermarket parts for automotive are easily available in North America and more people are adapting to online shopping for automotive parts and installation; the installation services are also readily available, and the market is gradually growing. The other major factor is that the vehicle ownership rate in the region is set to grow and with the prominence of truck and SUVs, the demand for exterior and outdoor accessories is set to remain strong.
In Europe, SUV and trucks accessories market is gradually expanding, due to the popularization of SUVs as family and recreational vehicles. It is evident that the perception of these countries is that SUVs are all-round cars, suitable for urban use and also for traveling in rural areas and even on long inter-city distances as it is evident from the following figures of sales of SUVs in some countries; Among the European consumers, those who like to use practical and effective accessories were noted; these are roof boxes, ski racks, and bike racks as skiing, cycling, and camping are popular among the European people. Europe is also the pioneer in the use of electric vehicles and as more electric SUVs and trucks are produced, the need for lightweight, aerodynamic accessories that do not have a negative effect on the battery range is on the rise.
The Asia Pacific market is rapidly growing with more focused on SUV and trucks accessories market, China India Japan and Australia are the key drivers in the market. China with the largest automotive market has witness high demand in the sale of SUVs as more middle-class citizens consider vehicles that provide utility and prestige.
Key Findings of the Study
- The global SUV and truck exterior and outdoor accessories market is expected to reach USD 13,071.9 million by 2032, at a CAGR of 5.6% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market.
- Based on Product Type, the Exterior Accessories segment was attributed to holding the largest market in 2023.
- Thule Group, Yakima, Inc., INNORACKS USA, WeatherTech, SportRack, ARB, Rhino Rack Australia Pty Limited among others are some of the players in the market.
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Companies Covered | 15 |
Pages | 128 |
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