As per MRFR analysis, the Automotive Rocker Panel Market Size was estimated at 12.62 (USD Billion) in 2022. The Automotive Rocker Panel Market Industry is expected to grow from 13.07 (USD Billion) in 2023 to 17.89 (USD Billion) by 2032. The Automotive Rocker Panel Market CAGR (growth rate) is expected to be around 3.56% during the forecast period (2024 - 2032).
There has been an increase in the demand for the Automotive Rocker Panel Market due to increased preference for SUVs and crossovers that need tough and durable rocker panels. There is also an increase in demand for aftermarket rocker panels as an aspect of vehicle modification or personalization. The use of new lightweight materials such as carbon fiber and aluminum is paving the way for manufacturers to produce lighter weight and rock panels that conserve more fuel. In addition, the increasing use of electric vehicles is also expected to help the growth of the market as these vehicles need specific designs of rocker panels for the battery packs.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The increasing demand for lightweight and durable vehicles is a key driver of the growth of the Automotive Rocker Panel Market. As consumers become more environmentally conscious and fuel prices continue to rise, there is a growing demand for vehicles that are both lightweight and fuel-efficient. This has led to an increased demand for lightweight materials, such as aluminum and carbon fiber, which are used in the production of rocker panels.In addition, the growing popularity of electric vehicles (EVs) is also driving demand for lightweight materials, as EVs require less weight to achieve the same performance as gasoline-powered vehicles. The demand for lightweight and durable materials is expected to continue to grow in the coming years as consumers continue to demand more fuel-efficient and environmentally friendly vehicles.
The second driver of the increasing demand for the Automotive Rocker Panel Market is the growing trend of vehicle customization. Currently, consumers are increasingly willing to make their new cars more original and atypical. It is possible to choose unusual designs and colors. Aftermarket rocker panels, which are aimed to change the appearance of a vehicle, meet this requirement seamlessly. They are available in various styles and may be made from different materials, so they may satisfy the most sophisticated customers.In this way, there are good reasons to believe that this trend will continue to grow.
The growing adoption of advanced manufacturing technologies is also driving the growth of the Automotive Rocker Panel Market. These technologies, such as 3D printing and additive manufacturing, are allowing manufacturers to produce rocker panels with greater precision and efficiency. This has led to a reduction in production costs and an improvement in the quality of rocker panels. In addition, advanced manufacturing technologies are also enabling manufacturers to produce rocker panels with more complex designs.This is expected to lead to an increase in demand for rocker panels as consumers seek out vehicles with more unique and stylish designs.
The Automotive Rocker Panel Market is expected to witness steady growth over the coming years, driven by increasing demand for passenger cars, commercial vehicles, and SUVs. Passenger cars are expected to continue to dominate the market, accounting for a significant share of the market revenue, followed by commercial vehicles and SUVs. Growing consumer preference for premium and luxury vehicles, along with rising disposable income, is contributing to the growth of the passenger car segment.
Commercial vehicles are also expected to witness significant growth, driven by increasing demand for transportation and logistics services.SUVs are gaining popularity due to their versatility, spaciousness, and off-road capabilities, leading to increased demand in both developed and emerging markets. The Automotive Rocker Panel Market is segmented into various categories based on vehicle type, material, and region.
By vehicle type, the market is classified into passenger cars, commercial vehicles, and SUVs. Passenger cars are projected to witness the highest growth rate, owing to the increasing demand for sedans, hatchbacks, and coupes. Commercial vehicles, which include trucks, buses, and vans, are expected to show steady growth due to the rising demand from the transportation and logistics sectors.The SUV segment is also expected to witness significant growth, driven by increasing consumer preference for rugged and versatile vehicles.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Automotive Rocker Panel Market is classified by Material into Metal, Plastic, and Composite. Metal is the leading material type, expected to account for over 70% of the market revenue by 2023. Plastic is projected to grow at the fastest CAGR, of 4.5% over the forecast period. Composite materials are fast gaining popularity on account of being lightweight with high strength. Metal rocker panels are preferred due to their durability and the fact that they do not corrode with time. These factors drive their demand among budget consumers who want high-quality products as long-term investments.Nonetheless, plastic rocker panels tend to be lighter and more cost-effective than metal, giving these materials over-arching popularity among price-conscious people.
Composite materials are seen as the best since they provide the best option in terms of strength, weight, and cost while being used for high-performance vehicles. Factors such as the growth of the automotive industry trigger the Automotive Rocker Panel Market. The rising demand for vehicles especially in parts of Asia and Africa is likely to increase the demand for rocker panels.Moreover, the growth in sports utility vehicles and crossovers is expected to expand the market for rocker panels. These vehicles offer greater ground clearance and are more likely to come into contact with objects when driving.
The Design segment of the Automotive Rocker Panel Market is classified into Straight, Curved, and Integrated. In 2023, the Straight design dominated the market with a revenue of 6.78 billion USD, representing nearly half of the overall market share. The Curved design segment is projected to grow at the highest CAGR of 4.12% during the forecast period, driven by increasing demand for visually appealing and aerodynamic vehicles. The Integrated design segment, which combines the rocker panel with other vehicle components such as side skirts or running boards, is gaining popularity due to its functional and aesthetic advantages.
The Functionality segment of the Automotive Rocker Panel Market is categorized into Protection, Styling, and Aerodynamics. Protection is the primary function of rocker panels, safeguarding the vehicle's undercarriage from road debris, moisture, and corrosion. Styling enhances the vehicle's aesthetics, offering customization options through various designs and materials. Aerodynamics optimizes airflow around the vehicle, reducing drag and improving fuel efficiency.
The Protection segment held a significant market share of approximately 55% in 2023, driven by the need to protect vehicles from harsh road conditions.Styling is expected to grow at a steady pace of 4.2% CAGR during the forecast period, influenced by increasing demand for vehicle personalization. Meanwhile, the Aerodynamics segment is projected to witness the highest growth rate of 5.0% CAGR, attributed to the growing focus on fuel efficiency and environmental sustainability in the automotive industry.
The distribution channel segment of the Automotive Rocker Panel Market plays a crucial role in connecting manufacturers with end-users. It comprises three primary channels: OEM (Original Equipment Manufacturer): OEMs distribute rocker panels directly to vehicle manufacturers for installation on new vehicles. This channel accounted for the largest share of the market in 2023, with an estimated revenue of USD 7.8 billion. It is driven by the increasing demand for new vehicles, particularly in emerging markets. Aftermarket: The aftermarket channel caters to the replacement and repair of rocker panels on existing vehicles.It is expected to grow at a CAGR of 4.2% from 2024 to 2032, reaching a value of USD 6.9 billion by 2032.
This growth is attributed to the rising number of vehicles on the road and the need for regular maintenance and repairs. E-commerce: E-commerce is gaining traction as a distribution channel for automotive rocker panels, offering convenience and a wide selection to consumers. It is projected to grow at the fastest CAGR of 5.5% over the forecast period, driven by the increasing popularity of online shopping and the growing adoption of digital platforms by both consumers and businesses.
The Automotive Rocker Panel Market segmentation by region includes North America, Europe, APAC, South America, and MEA. North America holds the largest market share due to the presence of major automotive manufacturers and a large aftermarket industry. Europe is the second largest market, followed by APAC. APAC is expected to grow at the highest CAGR during the forecast period due to the increasing demand for automobiles in developing countries such as China and India. South America and MEA are expected to have a moderate growth rate during the forecast period.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Major players in the Automotive Rocker Panel Market industry are continuously developing new products and technologies to stay ahead of the competition. Leading Automotive Rocker Panel Market players are investing heavily in research and development to create innovative products that meet the needs of the evolving automotive industry. The Automotive Rocker Panel Market development is driven by the increasing demand for lightweight and fuel-efficient vehicles. Automotive Rocker Panel Market Competitive Landscape is expected to remain highly competitive in the coming years.Metalsa is a leading global supplier of automotive components, including rocker panels. The company has a strong presence in North America, Europe, and Asia. Metalsa is known for its high-quality products and innovative manufacturing processes. The company is investing heavily in research and development to develop new products and technologies that meet the needs of the evolving automotive industry. Metalsa is well-positioned to continue to be a leading player in the Automotive Rocker Panel Market.Aisin Seiki is a Japanese company that is a leading supplier of automotive components, including rocker panels. The company has a strong presence in Asia and Europe. Aisin Seiki is known for its high-quality products and innovative manufacturing processes. The company is investing heavily in research and development to develop new products and technologies that meet the needs of the evolving automotive industry. Aisin Seiki is well-positioned to continue to be a leading player in the Automotive Rocker Panel Market.
The Automotive Rocker Panel Market is projected to grow from USD 13.07 billion in 2023 to USD 17.89 billion by 2032, exhibiting a CAGR of 3.56% during the forecast period. Increasing demand for lightweight vehicles, growing popularity of SUVs and CUVs, and rising disposable income in emerging economies are key factors driving market expansion. Moreover, government regulations mandating the use of rocker panels for safety purposes further augment growth prospects.
Recent developments in the market include the adoption of advanced materials such as lightweight composites and high-strength steel to enhance vehicle performance and durability. Additionally, major automotive manufacturers are investing in R&D to develop innovative rocker panel designs that improve aerodynamics and aesthetics. Furthermore, the growing trend toward vehicle customization and personalization is expected to create new opportunities for aftermarket rocker panels.
| Report Attribute/Metric | Details |
| Market Size 2022 | 12.62 (USD Billion) |
| Market Size 2023 | 13.07 (USD Billion) |
| Market Size 2032 | 17.89 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 3.56% (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 | Sumitomo Metal Industries, ArcelorMittal, Mitsubishi Steel, Baosteel, Nexteer Automotive, Hyundai Steel, Tata Steel, Voestalpine, ThyssenKrupp, Metaldyne Performance Group, POSCO, Magna International, NIPPON STEEL CORPORATION, JFE Steel |
| Segments Covered | Vehicle Type, Material, Design, Functionality, Distribution Channel, Regional |
| Key Market Opportunities | Expanding consumer base Lightweight materials adoption Growth of electric vehicles Emerging markets potential Advanced safety features |
| Key Market Dynamics | Increasing demand for lightweight vehicles Rising popularity of SUVs and crossovers Growing adoption of advanced materials Government regulations on vehicle safety Emphasis on vehicle aesthetics |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Automotive Rocker Panel Market is expected to reach a valuation of USD 13.07 billion in 2023. This market is projected to grow at a CAGR of 3.56% from 2024 to 2032, reaching a valuation of USD 17.89 billion by 2032.
The growth of the Automotive Rocker Panel Market is attributed to factors such as rising demand for lightweight vehicles, increasing production of automobiles, and growing popularity of SUVs and CUVs.
The Asia-Pacific region is expected to account for the largest share of the Automotive Rocker Panel Market due to the increasing production of automobiles and rising demand for lightweight vehicles in the region.
The key competitors in the Automotive Rocker Panel Market include Magna International, Inc., Toyota Boshoku Corporation, Hyundai Mobis Co., Ltd., and Faurecia.
The major market segments of the Automotive Rocker Panel Market are based on material type, vehicle type, and sales channel. Material types include steel, aluminum, and composites. Vehicle types include passenger cars, commercial vehicles, and electric vehicles. Sales channels include OEMs and aftermarket.
Key trends in the Automotive Rocker Panel Market include the adoption of lightweight materials, the integration of sensors and electronics, and the growing popularity of customized rocker panels.
The Automotive Rocker Panel Market faces challenges such as fluctuating raw material prices, intense competition, and stringent regulations.
The COVID-19 pandemic had a negative impact on the Automotive Rocker Panel Market due to disruptions in supply chains and reduced demand for automobiles.
Growth opportunities in the Automotive Rocker Panel Market include the development of new materials, the expansion of the aftermarket, and the increasing demand for customized rocker panels.
The future outlook of the Automotive Rocker Panel Market is positive due to the growing demand for lightweight vehicles, the increasing production of automobiles, and the rising popularity of SUVs and CUVs.
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Team Lead - Research With a technical background as bachelor's in mechanical engineering, with mba in operations management , swapnil has 6+ years of experience in market research, consulting and analytics with the tasks of data mining, analysis, and project execution. he is the poc for our clients, for their consulting projects running under the automotive/a&d domain. swapnil has worked on major projects in verticals such as aerospace & defense, automotive and many other domain projects. he has worked on projects for fortune 500 companies' syndicate and consulting projects along with several government projects.
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