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Car Accessories Market By Products (Working Lights, Torches, Appearance Accessories, Warning Lights, Driving Lights, Interior Lights, E-Sets, Interior Accessories, Lifestyle Gadget, Instruments And Gauges, Safety, Light Module Tuning, Performance/Stylish/Luminaire Tuning, Vision Products, Appearance Chemicals, Gas & Oil Additives, Solar Powered HVAC Systems, Retrofit Air Conditioner Sets, And Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028

Published Date: 14-May-2021 Category: Consumer Goods Report Format : PDF Pages: 130 Report Code: ZMR-1476 Status : Published

The global car accessories market accounted for USD 487.79 Billion in 2020 and is expected to reach USD 753.05 Billion by 2028, growing at a CAGR of 6.4% from 2021 to 2028.

Description

Market Overview

The global car accessories market accounted for USD 487.79 Billion in 2020 and is expected to reach USD 753.05 Billion by 2028, growing at a CAGR of 6.4% from 2021 to 2028.

The car accessories play an important role in improving the safety and aesthetic value of an automobile. The automobile consumers across the globe are inclined towards equipping their cars with essential accessories required for improving performance and passenger comfort. The car accessories ranges from the basic appearance improving product to the most advanced e-seat in a vehicle. Rising competition in the passenger vehicle market has triggered a trend in incorporating essential car accessories, that were previously considered luxury, to gain competitive edge in the market. This has played a key role in shaping the global car accessories market.

COVID-19 Impact Analysis

The global car accessories market has witnessed a mild impact in the sales for short term due to the halt in public movement amidst the lockdown enforced by governments to contain and prevent spreading of COVID-19. The consumer spending on the vehicle accessories has decreased significantly across the globe. However, emergence of cars as preferred mode of transportation in the developing countries has offered opportunity to the aftermarket sale of car accessories, thereby keeping the demand in motion. The production halts amidst the lockdown has impacted the demand for car accessories across the globe.

Global Car Accessories Market

Growth Factors

Increased passenger vehicle sales, rising awareness regarding on-road safety, growing technology integration into automobiles, increasing demand for electric vehicles, and shifting preference towards enhancing vehicle appearance are the key forces driving the global car accessories market. Consumer preference for high aesthetic value automobiles has increased significantly across the developing countries across Asia Pacific and Africa. Additionally, the demand for safety accessories has witnessed significant growth during the past couple of years owing to increased consumer awareness and government initiatives. This has significantly contributed towards the growth of the global car accessories during past couple of years and is anticipated to be a key factor driving the growth of the global car accessories market over coming years.

Report Scope:

Product Segment Analysis Preview

Based on product, the global car accessories market is segmented into working lights, torches, appearance accessories, warning lights, driving lights, interior lights, e-sets, interior accessories, lifestyle gadget, instruments and gauges, safety, light module tuning, performance/stylish/luminaire tuning, vision products, appearance chemicals, gas & oil additives, solar powered HVAC systems, retrofit air conditioner sets, and others.

The safety accessories segment accounted for a prominent share to the global car accessories market in 2019 and is anticipated to be the fastest growing segment during the forecast period. The awareness regarding the importance of safety features such as airbags is rising at a high rate across the globe. Additionally, the growth in sales of automobiles across the globe during past half decade has contributed towards the growth of the car accessories market. The major automobile manufacturers such as Toyota Group, VW Group, Renault-Nissan-Mitsubishi, General Motors, Hyundai-Kia Group, Honda, and Ford witnessed prominent growth in the number of vehicles sold in 2019. This has not only accounted for increased demand for safety car accessories from the automotive original equipment manufacturers, but has significantly contributed to increased demand from the aftermarket applications.

Along with the rising demand for safety accessories, the lighting accessories such as the warning lights, driving lights, and interior lights collectively contributed more than 15% to the global car accessories market in 2019 and are expected to be among the fastest growing segments during the forecast period. Among these, the warning lights segment is anticipated to be the fastest segment during the forecast period. The warning lights are increasingly being used to improve visibility and on-road safety across the European and Asia countries, thereby contributing towards the growth of the global car accessories market.

Moreover, automotive OEMs are focusing to enhance the aesthetic value of automotive along with improving the safety and efficiency of automobiles. For instance, fog lamps and adjustable seats are being provided in the base models by major automobile manufacturers across the globe. The largest Indian automobile manufacturer, the Tata Motors, has equipped the base models of its vehicle with essential safety features to improve road safety. This has fueled the demand for multiple car accessories during the past couple of years. Further, incorporation of essential features has shifted the focus of automobile buyers towards appearance accessories and is anticipated to play an important role in the growth of the global car accessories market in the coming years.

Additionally, the demand for electric vehicles is anticipated to surge during the forecast period owing to rising awareness regarding the impact of fossil fuel burning. The demand and production of electric vehicles has witnessed prominent growth across major countries such as India, China, the U.S., and the European Union. This has contributed towards the growth in demand for improved or updated car accessories and is anticipated to be a prime factor driving the growth of the global car accessories market during the coming years.

Regional Analysis Preview

Asia Pacific held the largest share of the global car accessories market in 2020 and is anticipated to be the fastest growing segment during the forecast period owing to increasing number of cars across major countries such as India, Indonesia, and Malaysia. However, government initiatives towards the use of public transport and increasing investment in public transport infrastructure in major countries such as China and Japan are anticipated to hinder the growth of the Asia Pacific car accessories market in coming years. However, strong aftermarket demand for car accessories across the region is anticipated to be a key factor driving the growth of Asia Pacific car accessories market during the forecast period.

Key Market Players & Competitive Landscape

Some of key players in car accessories market are U.S. Auto Parts Network Inc., Cover craft Industries LLC, Lloyd Mats, Star Automotive Accessories, Robert Bosch GmbH, Hyundai Motor Company, Roush Performance, JCA Fleet Services, Classic Soft Trim, Renault, Honda Motor Co., Ltd. among others.

The global Car Accessories market is segmented as follows:

By Product

  • Working Lights
  • Torches
  • Appearance Accessories
  • Warning Lights
  • Driving Lights
  • Interior Lights
  • E-Sets
  • Interior Accessories
  • Lifestyle Gadget
  • Instruments And Gauges
  • Safety
  • Light Module Tuning
  • Performance/Stylish/Luminaire Tuning
  • Vision Products
  • Appearance Chemicals
  • Gas & Oil Additives
  • Solar Powered HVAC Systems
  • Retrofit Air Conditioner Sets
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

 

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter 2. Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
      • 2.1.2. Market Attractiveness Analysis, By Product
      • 2.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Car Accessories Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter 3. COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter 4. Car Accessories Market –Product Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Product, 2020 & 2028
    • 4.2. Working Lights
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Torches
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Appearance Accessories
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Warning Lights
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Driving Lights
      • 4.6.1. Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.7. Interior Lights
      • 4.7.1. Market Size and Forecast, By Region (USD Billion)
      • 4.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.7.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.8. E-Sets
      • 4.8.1. Market Size and Forecast, By Region (USD Billion)
      • 4.8.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.8.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.9. Interior Accessories
      • 4.9.1. Market Size and Forecast, By Region (USD Billion)
      • 4.9.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.9.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.10. Lifestyle Gadget
      • 4.10.1. Market Size and Forecast, By Region (USD Billion)
      • 4.10.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.10.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.11. Instruments And Gauges
      • 4.11.1. Market Size and Forecast, By Region (USD Billion)
      • 4.11.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.11.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.12. Safety
      • 4.12.1. Market Size and Forecast, By Region (USD Billion)
      • 4.12.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.12.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.13. Light Module Tuning
      • 4.13.1. Market Size and Forecast, By Region (USD Billion)
      • 4.13.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.13.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.14. Performance/Stylish/Luminaire Tuning
      • 4.14.1. Market Size and Forecast, By Region (USD Billion)
      • 4.14.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.14.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.15. Vision Products
      • 4.15.1. Market Size and Forecast, By Region (USD Billion)
      • 4.15.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.15.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.16. Appearance Chemicals
      • 4.16.1. Market Size and Forecast, By Region (USD Billion)
      • 4.16.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.16.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.17. Gas & Oil Additives
      • 4.17.1. Market Size and Forecast, By Region (USD Billion)
      • 4.17.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.17.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.18. Sular Powered HVAC Systems
      • 4.18.1. Market Size and Forecast, By Region (USD Billion)
      • 4.18.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.18.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.19. Retrofit Air Conditioner Sets
      • 4.19.1. Market Size and Forecast, By Region (USD Billion)
      • 4.19.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.19.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.20. Others
      • 4.20.1. Market Size and Forecast, By Region (USD Billion)
      • 4.20.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.20.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter 5. Car Accessories Market – Regional Analysis
    • 5.1. Overview
      • 5.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 5.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 5.2. North America
      • 5.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.2.2. U.S.
        • 5.2.2.1. U.S. Market Revenue, By Product, 2016 – 2028
      • 5.2.3. Canada
        • 5.2.3.1. Canada Market Revenue, By Product, 2016 – 2028
      • 5.2.4. Mexico
        • 5.2.4.1. Mexico Market Revenue, By Product, 2016 – 2028
    • 5.3. Europe
      • 5.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.3.2. Europe Market Revenue, By Product, 2016 – 2028
      • 5.3.3. Germany
        • 5.3.3.1. Germany Market Revenue, By Product, 2016 – 2028
      • 5.3.4. France
        • 5.3.4.1. France Market Revenue, By Product, 2016 – 2028
      • 5.3.5. U.K.
        • 5.3.5.1. U.K. Market Revenue, By Product, 2016 – 2028
      • 5.3.6. Italy
        • 5.3.6.1. Italy Market Revenue, By Product, 2016 – 2028
      • 5.3.7. Spain
        • 5.3.7.1. Spain Market Revenue, By Product, 2016 – 2028
      • 5.3.8. Rest of Europe
        • 5.3.8.1. Rest of Europe Market Revenue, By Product, 2016 – 2028
    • 5.4. Asia Pacific
      • 5.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.4.2. China
        • 5.4.2.1. China Market Revenue, By Product, 2016 – 2028
      • 5.4.3. Japan
        • 5.4.3.1. Japan Market Revenue, By Product, 2016 – 2028
      • 5.4.4. India
        • 5.4.4.1. India Market Revenue, By Product, 2016 – 2028
      • 5.4.5. South Korea
        • 5.4.5.1. South Korea Market Revenue, By Product, 2016 – 2028
      • 5.4.6. South-East Asia
        • 5.4.6.1. South-East Asia Market Revenue, By Product, 2016 – 2028
      • 5.4.7. Rest of Asia Pacific
        • 5.4.7.1. Rest of Asia Pacific Market Revenue, By Product, 2016 – 2028
    • 5.5. Latin America
      • 5.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.5.2. Latin America Market Revenue, By Product, 2016 – 2028
      • 5.5.3. Brazil
        • 5.5.3.1. Brazil Market Revenue, By Product, 2016 – 2028
      • 5.5.4. Argentina
        • 5.5.4.1. Argentina Market Revenue, By Product, 2016 – 2028
      • 5.5.5. Rest of Latin America
        • 5.5.5.1. Rest of Latin America Market Revenue, By Product, 2016 – 2028
    • 5.6. Middle-East and Africa
      • 5.6.1. Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 5.6.2. Middle-East and Africa Market Revenue, By Product, 2016 – 2028
      • 5.6.3. GCC Countries
        • 5.6.3.1. GCC Countries Market Revenue, By Product, 2016 – 2028
      • 5.6.4. South Africa
        • 5.6.4.1. South Africa Market Revenue, By Product, 2016 – 2028
      • 5.6.5. Rest of Middle-East and Africa
        • 5.6.5.1. Rest of Middle-East and Africa Market Revenue, By Product, 2016 – 2028
  • Chapter 6. Car Accessories Market – Industry Analysis
    • 6.1. Introduction
    • 6.2. Market Drivers
      • 6.2.1. Driving Factor 1 Analysis
      • 6.2.2. Driving Factor 2 Analysis
    • 6.3. Market Restraints
      • 6.3.1. Restraining Factor Analysis
    • 6.4. Market Opportunities
      • 6.4.1. Market Opportunity Analysis
    • 6.5. Porter’s Five Forces Analysis
    • 6.6. PEST Analysis
    • 6.7. Regulatory Landscape
    • 6.8. Technulogy Landscape
    • 6.9. Regional Market Trends
      • 6.9.1. North America
      • 6.9.2. Europe
      • 6.9.3. Asia Pacific
      • 6.9.4. Latin America
      • 6.9.5. The Middle-East and Africa
    • 6.10. Pricing Analysis
    • 6.11. Value Chain Analysis
    • 6.12. Downstream Buyers
    • 6.13. Distributors/Traders List
  • Chapter 7. Competitive Landscape
    • 7.1. Company Market Share Analysis – 2019
      • 7.1.1. Global Car Accessories Market: Company Market Share, 2019
      • 7.1.2. Global Car Accessories Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 7.1.3. Global Car Accessories Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 7.1.4. Global Car Accessories Market: Radar Determinant Chart, 2019
    • 7.2. Strategic Developments
      • 7.2.1. Acquisitions & Mergers
      • 7.2.2. New Product Launch
      • 7.2.3. Regional Expansion
    • 7.3. Company Strategic Developments – Heat Map Analysis
  • Chapter 8. Company Profiles
    • 8.1. Robert Bosch GmbH
      • 8.1.1. Company Overview
      • 8.1.2. Key Executives
      • 8.1.3. Product Portfulio
      • 8.1.4. Financial Overview
      • 8.1.5. Operating Business Segments
      • 8.1.6. Business Performance
      • 8.1.7. Recent Developments
    • 8.2. U.S. Auto Parts Network Inc.
    • 8.3. Cover craft Industries LLC
    • 8.4. Lloyd Mats
    • 8.5. Star Automotive Accessories
    • 8.6. Hyundai Motor Company
    • 8.7. Roush Performance
    • 8.8. JCA Fleet Services
    • 8.9. Classic Soft Trim
    • 8.10. Renault
    • 8.11. Honda Motor Co., Ltd.
  • Chapter 9. Marketing Strategy Analysis
    • 9.1. Marketing Channel
    • 9.2. Direct Marketing
    • 9.3. Indirect Marketing
    • 9.4. Marketing Channel Development Trends
    • 9.5. Economic/Pulitical Environmental Change
  • Chapter 10. Research Methodulogy
    • 10.1. Research Methodulogy
    • 10.2. Phase I - Secondary Research
    • 10.3. Phase II - Data Modeling
      • 10.3.1. Company Share Analysis Model
      • 10.3.2. Revenue Based Modeling
    • 10.4. Phase III - Primary Research
    • 10.5. Research Limitations
      • 10.5.1. Assumptions

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Car Accessories market. Zion Research has collected and analyzed key data belong to the global Car Accessories market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Car Accessories across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Car Accessories industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Car Accessories market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Accessories are selected by a car owner to enhance safety, performance, or comfort. An accessory may be added at the factory by the original equipment manufacturer or purchased and installed by the owner post-sale as aftermarket goods. Car accessories are used to enhance interior aesthetics of the vehicle and give an overall entertaining and comfortable riding experience. Car accessories are integral when upgrading and enhancing car’s look. These are supplementary parts that improve a car's ability and play a vital role in car maintenance process. There are various interior and exterior accessories used for car manufacturing.

Car accessories market is expected to have immense growth in the coming future. The market is anticipated to be driven by increasing demand for cars across the globe. Increasing consumer inclination towards an entertaining driving experience and growing vehicle customization among a young population are projected to boost the demand for car accessories market. However, availability of wide range of car accessories with inconsistent quality may hamper the market growth within the forecast period. Nonetheless, technological advancement to provide innovative accessories is expected to open up new growth avenues in the near future. The global car accessories market has experienced tremendous growth over past few years owing to increasing demand for cars across the globe. The growing economies in the world have made a greater impact upon the development and growth of the car industry. Regions like Europe are expected to maintain its dominance in terms of market value in the global car accessories market during forecast period.

Global-Car-Accessories-Market_new

Car accessories market can be categorized on the basis of its product type into working lights, torches, appearance accessories, warning lights, driving lights, interior lights, e-sets, interior accessories, lifestyle gadget, instruments and gauges, safety,  light module tuning, performance/stylish/luminaire tuning, vision products, appearance chemicals, gas & oil additives, solar powered HVAC systems, retrofit air conditioner sets, and others. All these products are used to protect vehicle and enhance safety. Among all the product types, the market is dominated by torches, lights, covers and all electronic accessories segments which are collectively expected to hold the highest revenue share over the forecast period.

By geography, the car accessories market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa region. Among all, Europe was the largest market for car accessories market in 2016, due to increasing consumer spending on car accessories in the region. After Europe, North America is likely to account 27.3% of market share by the end of 2022. The car accessories market in the Asia Pacific region is projected to grow at highest CAGR during forecast period.

Some of the key players operating in this market include U.S. Auto Parts Network Inc., Cover craft Industries LLC, Lloyd Mats, Star Automotive Accessories, Robert Bosch GmbH, Hyundai Motor Company, Roush Performance, JCA Fleet Services, Classic Soft Trim, Renault, Honda Motor Co., Ltd., and others. The key players focus on expanding their business on new strategies and have significant market share in the global car accessories market.


Frequently Asked Questions

The global car accessories market was valued at USD 487.79 Billion in 2020.

The global car accessories market is expected to reach USD 753.05 Billion by 2028, growing at a CAGR of 6.4% between 2021 to 2028.

Some of the key factors driving growth of the global car accessories market are Increased passenger vehicle sales, rising awareness regarding on-road safety, growing technology integration into automobiles, increasing demand for electric vehicles, and shifting preference towards enhancing vehicle appearance.

Asia Pacific region held a substantial share of the Car Accessories market in 2020. This is attributable to the increased demand from wide range of car accessories across major countries in the region fueled increasing automobile sales.

Some of the major companies operating in car accessories market are U.S. Auto Parts Network Inc., Cover craft Industries LLC, Lloyd Mats, Star Automotive Accessories, Robert Bosch GmbH, Hyundai Motor Company, Roush Performance, JCA Fleet Services, Classic Soft Trim, Renault, Honda Motor Co., Ltd. among others.

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