Global Automotive Exterior Accessories Market Overview:
As per MRFR analysis, the Automotive Exterior Accessories Market Size was estimated at 32.81 (USD Billion) in 2022. The Automotive Exterior Accessories Market Industry is expected to grow from 34.8(USD Billion) in 2023 to 59.1 (USD Billion) by 2032. The Automotive Exterior Accessories Market CAGR (growth rate) is expected to be around 6.06% during the forecast period (2024 - 2032).
Key Automotive Exterior Accessories Market Trends Highlighted
The Automotive Exterior Accessories Market is experiencing significant growth due to the rising demand for customized and personalized vehicles. Increasing consumer disposable income and the growing popularity of SUVs and pickup trucks are driving the market. Additionally, technological advancements such as the integration of sensors and advanced materials into exterior accessories are further fueling growth.
Key market drivers include the increasing popularity of electric vehicles, which require specialized exterior accessories, and the growing trend of consumers prioritizing vehicle appearance. Opportunities for exploration lie in the development of innovative accessories that enhance aerodynamics, fuel efficiency, and safety. The recent trend towards rugged and off-road accessories has also created new growth avenues, as consumers seek to personalize their vehicles for outdoor adventures and increased driving capabilities.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Exterior Accessories Market Drivers
Rising Demand for Vehicle Customization and Personalization
Indeed, over the past years, consumers have been willing to have their vehicles differentiated from others. The trend is especially evident in the market for automotive exterior accessories: customers want to alter the look of the vehicle so that it cannot only function perfectly but also look unique. The increasing variety of accessories provided in the identified market contributes largely to the observed trend. Ranging from spoilers and body kits to custom wheels and grilles, the specified offer creates premises for adjusting the item to one’s needs and preferences.As a result, the trend regarding the high demand for tools for personalizing and customizing cars is likely to persist and remain a major factor affecting the defined market.
Technological Advancements and Innovations
The accessibility of innovative solutions stimulates the development of the automotive industry. This process affects the exterior accessories market as well, and as the new report indicates, LED lighting, touch screens, and smartphone connection are among the technologies that affect such type of goods. The use of LED lamps contributes to better visibility, energy efficiency, and device productivity. In turn, the touch screen appeared to be one of the most user-friendly options that can help a driver control various functions provided in a car.The rapid wave of connected vehicles stimulated the development of smart accessories that could be controlled and adjusted with the help of phones. In general, these technologies can be considered not as tools that negatively influence the global market but rather as mechanisms that will promote it in the future.
Growing Popularity of SUVs and Crossovers
SUVs and crossovers are gaining more popularity across the globe, and the immediate effect can be seen in the automotive exterior accessories market due to these types of vehicles. The SUVs and the crossovers can accommodate accessories with more efficiency as their ground clearance is increased, and the vehicular types are versatile, which allows them to be employed for any application, such as daily commuting as well as for off-road adventures. Hence, consumers tend to equip their SUVs and crossovers with exterior accessories that can make the vehicle more efficient and rugged, such as roof racks, bull bars, and off-road tires.This is expected to drive the Automotive Exterior Accessories Market Industry during the forecast period.
Automotive Exterior Accessories Market Segment Insights:
Automotive Exterior Accessories Market Accessory Type Insights
This growth is attributed to the increasing demand for personalized and stylish vehicles, rising disposable income, and the popularity of aftermarket accessories. Spoilers and Wings are aerodynamic devices that help reduce drag and improve stability at high speeds. They are increasingly adopted in sports cars and performance vehicles; hence, the Automotive Exterior Accessories Market is anticipated to grow for Spoilers and Wings. Bumpers and Body Kits protect the vehicle from damage and enhance its appearance.
It is also widely used in SUV and off-road application, and its market is projected to grow for Bumpers and Body Kits.Grilles and Fascias promote cooling and airflow while at the same time enhancing the vehicle’s appearance. The demand for sporty and aggressive look of vehicle is increasing as well, which will help the Automotive Exterior Accessories Market to grow for Grilles and Fascias. Headlights and Taillights are vital for visibility and safety. With the expanding use of LED and HID headlights, the Automotive Exterior Accessories Market for Headlights and Taillights is expected to grow significantly. Mirrors and Window Accessories improve the vehicle’s utility and ease of use.The Automotive Exterior Accessories Market is forecast to grow for Mirrors and Window Accessories because of the rising demand for power mirrors, heated mirrors, and rain-sensing wipers.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Exterior Accessories Market Vehicle Type Insights
The Vehicle Type segment of the Automotive Exterior Accessories Market is categorized into Passenger Cars, SUVs and Crossovers, Trucks, Commercial Vehicles, and Motorcycles. Passenger Cars currently account for the majority of the market revenue, driven by the increasing demand for aesthetics and personalized vehicles. SUVs and Crossovers are expected to witness significant growth owing to their growing popularity and rugged design. The increasing demand for pickup trucks and commercial vehicles in various industries is expected to boost the growth of the respective segments.Motorcycles, with their growing popularity as a mode of transportation and leisure activity, are anticipated to contribute to the overall market growth. The market data indicates a gradual shift towards SUVs and Crossovers, driven by changing consumer preferences and the increasing availability of advanced features and technologies in these vehicle types.
Automotive Exterior Accessories Market Material Insights
The Automotive Exterior Accessories Market is segmented based on material, which includes carbon fiber, fiberglass, polyurethane, steel, and aluminum. The market for carbon fiber is expected to witness significant growth owing to its lightweight and high-strength properties. Fiberglass is another popular material used in automotive exterior accessories due to its durability and affordability. Polyurethane is also gaining traction as a preferred material for exterior accessories as it offers flexibility and resistance to impact. Steel and aluminum are traditional materials used in automotive exterior accessories and continue to be widely adopted due to their strength and durability.
Automotive Exterior Accessories Market Functionality Insights
The Functionality segment is a crucial aspect of the Automotive Exterior Accessories Market, accounting for a substantial portion of the overall revenue. Aerodynamic Enhancements, Protection and Durability, Styling and Customization, Lighting and Visibility are the key sub-segments within this segment. Aerodynamic Enhancements contribute significantly to market growth as they improve vehicle performance and fuel efficiency. Protection and Durability accessories, such as mudguards and bumper protectors, safeguard vehicles from external damage, driving demand in the market.Styling and Customization options, including spoilers and body kits, cater to the growing consumer desire for personalized vehicles, boosting market revenue. Lighting and Visibility accessories, such as LED headlights and fog lights, enhance driving safety and aesthetics, further propelling market growth.
Automotive Exterior Accessories Market Regional Insights
The regional segmentation of the Automotive Exterior Accessories Market offers valuable insights into the market's growth dynamics across different geographic regions. North America, Europe, APAC, South America, and MEA represent the key regional segments. North America holds a significant share of the Automotive Exterior Accessories Market revenue due to the presence of leading automotive manufacturers and a high demand for customized vehicles. In 2023, the market in North America was valued at 12.5 billion USD and is projected to reach 17.2 billion USD by 2032, exhibiting a CAGR of 4.1%.Europe is another prominent region in the Automotive Exterior Accessories Market.
The region's stringent emission regulations and growing awareness of vehicle aesthetics drive market growth. In 2023, the European market was valued at 10.2 billion USD and is estimated to reach 15.3 billion USD by 2032, with a CAGR of 4.7%. APAC is expected to witness the highest growth rate in the Automotive Exterior Accessories Market during the forecast period. The region's rapidly expanding automotive industry and increasing disposable income contribute to this growth.In 2023, the APAC market was valued at 8.9 billion USD and is projected to reach 18.2 billion USD by 2032, registering a CAGR of 8.2%. South America and MEA hold relatively smaller shares in the Automotive Exterior Accessories Market. However, these regions are anticipated to exhibit steady growth due to the increasing popularity of aftermarket accessories and the growing number of vehicle owners.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Exterior Accessories Market Key Players And Competitive Insights:
Major players in the Automotive Exterior Accessories Market industry are constantly striving to gain a competitive edge by investing in research and development, expanding their product portfolio, and entering into strategic partnerships. Leading Automotive Exterior Accessories Market players are focusing on developing innovative products that meet the evolving needs of consumers. The Automotive Exterior Accessories Market is characterized by intense competition, with established players and new entrants vying for market share.
To stay competitive, companies are investing in advanced technologies, such as 3D printing and augmented reality, to enhance their products and services. The Automotive Exterior Accessories Market industry is also witnessing a growing trend towards customization, with consumers demanding products that reflect their unique style and preferences.One of the leading Automotive Exterior Accessories Market players is 3M, a global conglomerate with a diverse portfolio of products and services. The company offers a wide range of automotive exterior accessories, including window films, paint protection films, and body wraps. 3M's strong brand recognition, extensive distribution network, and commitment to innovation have helped it maintain a strong position in the market. Another major player in the Automotive Exterior Accessories Market is WeatherTech, a privately held company based in the United States. WeatherTech specializes in manufacturing high-quality floor mats, mud flaps, and other exterior accessories for cars, trucks, and SUVs.
The company's products are known for their durability, functionality, and stylish design, which has contributed to its growing popularity among consumers.A notable competitor in the Automotive Exterior Accessories Market is Lund International, a leading manufacturer of aftermarket automotive accessories. The company offers a comprehensive range of products, including running boards, nerf bars, fender flares, and tonneau covers. Lund International is known for its innovative designs, attention to detail, and commitment to providing excellent customer service. The company's products are available through a network of distributors and retailers in North America and Europe. These are just a few examples of the leading players in the Automotive Exterior Accessories Market. The market is highly competitive, with companies constantly striving to gain an edge over their rivals. By investing in innovation, expanding their product offerings, and focusing on customer satisfaction, these companies are well-positioned to capitalize on the growing demand for automotive exterior accessories.
Key Companies in the Automotive Exterior Accessories Market Include:
- Borbet GmbH
- Aisin Seiki Co., Ltd.
- Calsonic Kansei Corporation
- Johnson Controls, Inc.
- Visteon Corporation
- TYC Brother Industrial Co., Ltd.
- Magna International, Inc.
- Wheels America, Inc.
- Gentex Corporation
- Denso Corporation
- APG Automotive Ventures LLC.
- ADD Design GmbH
- Robert Bosch GmbH
- Valeo Group
Automotive Exterior Accessories Market Industry Developments
The Automotive Exterior Accessories Market is projected to reach USD 59.1 billion by 2032, exhibiting a CAGR of 6.06% from 2024 to 2032. Increasing demand for customization, rising disposable income, and technological advancements drive market growth. Key market trends include the growing popularity of premium and luxury vehicles, the integration of advanced safety features, and the increasing adoption of electric vehicles. Recent developments include the launch of innovative products such as customizable grilles and aerodynamic body kits, as well as collaborations between automakers and aftermarket accessory manufacturers. The market is fragmented, with major players including 3M, WeatherTech, and Thule.
Automotive Exterior Accessories Market Segmentation Insights
Automotive Exterior Accessories Market Accessory Type Outlook
- Spoilers and Wings
- Bumpers and Body Kits
- Grilles and Fascias
- Headlights and Taillights
- Mirrors and Window Accessories
Automotive Exterior Accessories Market Vehicle Type Outlook
- Passenger Cars
- SUVs and Crossovers
- Trucks
- Commercial Vehicles
- Motorcycles
Automotive Exterior Accessories Market Material Outlook
- Carbon Fiber
- Fiberglass
- Polyurethane
- Steel
- Aluminum
Automotive Exterior Accessories Market Functionality Outlook
- Aerodynamic Enhancements
- Protection and Durability
- Styling and Customization
- Lighting and Visibility
Automotive Exterior Accessories Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
32.81(USD Billion) |
| Market Size 2023 |
34.8(USD Billion) |
| Market Size 2032 |
59.1(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
6.06% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Borbet GmbH, Aisin Seiki Co., Ltd., Calsonic Kansei Corporation, Johnson Controls, Inc., Visteon Corporation, TYC Brother Industrial Co., Ltd., Magna International, Inc., Wheels America, Inc., Gentex Corporation, Denso Corporation, APG Automotive Ventures LLC., ADD Design GmbH, Robert Bosch GmbH, Valeo Group |
| Segments Covered |
Accessory Type, Vehicle Type, Material, Functionality, Regional |
| Key Market Opportunities |
Growing demand for vehicle customization Increasing popularity of electric vehicles Rising disposable income in emerging markets Advancements in automotive technology Focus on safety features |
| Key Market Dynamics |
1 Rising demand for customized vehicles2 Increase in disposable income and vehicle ownership3 Growing popularity of offroading and adventure vehicles4 Advancements in vehicle design and technology5 Increasing prevalence of online aftermarket sales |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Automotive Exterior Accessories Market is expected to reach a valuation of USD 34.8 billion by 2023, expanding at a CAGR of 6.06% to reach USD 59.1 billion by 2032.
North America is projected to command the largest market share, owing to the increasing vehicle production and growing consumer preference for customized vehicles in the region.
Rising disposable income, increasing demand for vehicle customization, and technological advancements in the automotive industry are the primary growth drivers for the automotive exterior accessories market.
Automotive exterior accessories find applications in various vehicle segments, including passenger cars, commercial vehicles, and electric vehicles. They enhance the vehicle's aesthetics, functionality, and safety.
Major players in the automotive exterior accessories market include 3M, WeatherTech, Thule, Yakima, and Dee Zee, among others. These companies offer a wide range of products, including body kits, spoilers, roof racks, and lighting accessories.
The growing popularity of electric vehicles, the integration of advanced technologies, and the increasing demand for sustainable accessories are some of the key trends influencing the automotive exterior accessories market.
The Automotive Exterior Accessories Market is estimated to exhibit a CAGR of 6.06% during the forecast period of 2024-2032.
The passenger car segment is projected to dominate the market, accounting for a significant share of the overall revenue.
Fluctuating raw material prices, intense competition, and stringent government regulations pose challenges to the growth of the automotive exterior accessories market.
The Automotive Exterior Accessories Market is anticipated to witness steady growth over the coming years, driven by increasing vehicle production, rising consumer demand for customization, and technological advancements.
