Automotive Performance Accessory Trends and Forecast
The future of the global automotive performance accessory market looks promising with opportunities in the original equipment manufacturer and aftermarket markets. The global automotive performance accessory market is expected to grow with a CAGR of 4.3% from 2024 to 2030. The major drivers for this market are increasing interest in vehicle customization and personalization, growing consumer awareness about the benefits of performance accessories, and rising demand for off-road vehicles, like trucks and Jeeps, which are frequently utilized for adventure travel.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Automotive Performance Accessory by Segment
The study includes a forecast for the global automotive performance accessory by type, application, and region.
Automotive Performance Accessory Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Exhaust Systems
• Suspension Parts
• Brakes
• Fuel Air & Intake Systems
• Transmission Parts
• Power Adders
Automotive Performance Accessory Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Original Equipment Manufacturer
• Aftermarket
Automotive Performance Accessory Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Automotive Performance Accessory Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automotive performance accessory companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automotive performance accessory companies profiled in this report include-
• Tenneco
• Brembo
• Continental
• Borgwarner
• Mahle
• Hyundai Mobis
• Donaldson
• Mitsubishi Heavy Industries
• ZF Friedrichshafen
• Honeywell
Automotive Performance Accessory Market Insights
Lucintel forecasts that exhaust systems is expected to witness the highest growth over the forecast period because it is constructed with less constricting mufflers and pipes with larger diameters to allow for more exhaust flow, prompting customers to upgrade their cars.
Within this market, original equipment manufacturer is expected to witness the higher growth.
APAC is expected to witness highest growth over the forecast period.
Features of the Global Automotive Performance Accessory Market
Market Size Estimates: Automotive performance accessory market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Automotive performance accessory market size by type, application, and region in terms of value ($B).
Regional Analysis: Automotive performance accessory market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the automotive performance accessory market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the automotive performance accessory market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for automotive performance accessory market?
Answer: The global automotive performance accessory market is expected to grow with a CAGR of 4.3% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the automotive performance accessory market?
Answer: The major drivers for this market are increasing interest in vehicle customization and personalization, growing consumer awareness about the benefits of performance accessories, and rising demand for off-road vehicles, like trucks and Jeeps, which are frequently utilized for adventure travel.
Q3. What are the major segments for automotive performance accessory market?
Answer: The future of the global automotive performance accessory market looks promising with opportunities in the original equipment manufacturer and aftermarket markets.
Q4. Who are the key automotive performance accessory market companies?
Answer: Some of the key automotive performance accessory companies are as follows:
• Tenneco
• Brembo
• Continental
• Borgwarner
• Mahle
• Hyundai Mobis
• Donaldson
• Mitsubishi Heavy Industries
• ZF Friedrichshafen
• Honeywell
Q5. Which automotive performance accessory market segment will be the largest in future?
Answer: Lucintel forecasts that exhaust systems is expected to witness the highest growth over the forecast period because it is constructed with less constricting mufflers and pipes with larger diameters to allow for more exhaust flow, prompting customers to upgrade their cars.
Q6. In automotive performance accessory market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive performance accessory market by type (exhaust systems, suspension parts, brakes, fuel air & intake systems, transmission parts, and power adders), application (original equipment manufacturer and aftermarket), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Automotive Performance Accessory Market, Automotive Performance Accessory Market Size, Automotive Performance Accessory Market Growth, Automotive Performance Accessory Market Analysis, Automotive Performance Accessory Market Report, Automotive Performance Accessory Market Share, Automotive Performance Accessory Market Trends, Automotive Performance Accessory Market Forecast, Automotive Performance Accessory Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.