The decorative car accessories market has become quite established due to increasing popularity of car customisation among consumers. Focus on enhancing car aesthetics and improving comfort are the key factors that have led to renewed interest in decorative car accessories. Over the years, the decorative car accessories market has grown in terms of product range & application types.
Demand for decorative car accessories is higher in the aftermarket segment than the original equipment manufacturer (OEM) segment. The aftermarket segment is less expensive and offers a more diverse range of customisation in terms of design & material types. Franchise-based sales channels & regional dealers are the prominent players in both value chain and supply chain. The supply chain consists of conventional physical sales channel as well as online sales. Phone-based application sales is a new channel which has grown robustly in recent times.
Many dealers are creating their own brand / range of accessories in association with the parent OEM, thereby adopting a strategic alliance. Marketing and promotion via social platforms, trade fairs & exhibitions, motor racing events, seminars, and print & electronic media are thoroughly used for product positioning & consumer awareness.
The decorative car accessories market constitutes the nature of accessory and its range of product types involved — these products can be classified as: Interior- Pedals & Car Mats, Racing Seats, Steering Wheel & Seat Covers, Headrests, Seatbelts, Interior Trims, Gauges, Shifters, Door Sills; Exterior- Racks & Carriers, Spoilers & Wings, Mud & Splash Guards, Sunroofs, Louvers, Mirrors,Door Skins, Suspensions, Light Bars, Exhausts & Mufflers, Air Intake Systems, Decals & Stickers; The decorative car accessories market can be segregated on basis of car type as: compact, sedan, executive, SUV/MUV, luxury, and premium.; Regional bifurcation of the market for decorative car accessories are as follows: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific exc. Japan (APEJ), Japan, and Middle East & Africa (MEA).
Geographically, the decorative car accessories industry is present across all major regions which include North America, Western & Eastern Europe, Asia-Pacific region, Japan, and Middle East & Africa. The North American decorative car accessories market is the largest contributor with highest consumer base. The market will witness healthy growth rates owing to stable automotive sales. The market would be volume driven across all regions and car types. Value additions by suppliers and a strong sales channel would be key requisites of the market.
The major players including manufacturers & suppliers identified across the global value chain are Delphi Automotive, Robert Bosch GmbH, Continental AG, Denso Corporation, Magna International, Aisin Seiki Co. Ltd., Tenneco Inc., and Federal Mogul Corp. Amongst others there are prime regional manufacturers, such as 3d Carbon Automotive Corp., Carroll Shelby International Inc., Roush Performance Products Inc., Steeda Autosports, Classic Design Concepts, JC Whitney, Driven By Style LLC, HKS Co. Ltd., Sparco Motor Sports Inc., and Injen Technology.
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