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The car body kit market size is forecast to increase by USD 35.74 billion, at a CAGR of 4.82% between 2023 and 2028.
Market growth hinges on various factors, notably the surge in demand for connected vehicles and smart car technologies, alongside the embrace of advanced driver assistance systems. Additionally, rising disposable incomes and evolving lifestyles contribute significantly to the market's upward trajectory. The report provides market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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The market is propelled by various factors such as the presence of car dealerships and service centers, however, supply chain disruptions pose a significant challenge. The market thrives on demand and manufacturing activities driven by OEMs and a young population seeking individuality in their vehicles. Car enthusiasts drive the demand for aerodynamic kits and spoilers, yet challenges like stringent regulations and taxation policies persist. As the industry shifts towards electrification and lightweight materials like carbon fiber, automakers and companies like Novitec Group and TECHART Automobildesign GmbH lead the charge in creating aggressive and sporty appearances through car modification and innovative body kit components. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for connected vehicles and smart car technologies is notably driving the market. The surge in demand for connected vehicles and smart car technologies stands as a pivotal force in shaping the global market. As technology evolves, consumers increasingly seek vehicles equipped with electrification and other features that augment convenience, safety, and entertainment. Smart car technologies and car modification, encompassing advanced driver assistance, GPS navigation, and voice-activated controls, further enhance modern vehicles.
Moreover, these innovations not only elevate driving convenience but also bolster safety with real-time traffic updates, collision avoidance systems, and lane departure warnings. Leading automotive technology provider Robert Bosch GmbH (Bosch) offers a diverse range of car body kits embedded with advanced connectivity features. Car enthusiasts prefer premium sports cars with aerodynamic kits and bumper tuning These kits seamlessly integrate with onboard systems, and furnishing functionalities such as smartphone mirroring, real-time vehicle diagnostics, and predictive maintenance alerts. Hence, such factors are driving the market growth during the forecast period.
Increasing new launches in the market is an emerging trend driving the market. An emerging trend in the global market is the increasing number of product launches fuelled by technological advancements, changing consumer preferences, and evolving automotive trends. In addition, as demand for connected vehicles and smart car technologies grows, manufacturers are introducing new and innovative car body kits to meet the evolving needs of consumers.
For instance, in September 2022, Novitec GmbH and Co. KG (Novitec) unveiled an upgrade package for the Maserati MC20 that included a subtle carbon fiber aero kit, fins for the front splitter, a rear ducktail spoiler, and carbon fiber inserts for the hood and side intakes. Moreover, In September 2022, based on the Mercedes-Benz AMG G63 SUV, BRABUS GmbH (Brabus) created the P 900 Rocket Edition boasts a wheelbase that is 19.7 inches longer and a pickup bed in the rear. It gets a wide carbon fiber body kit with new bumpers, a see-through hood, and rocket-red aluminum. Hence, such factors are driving the market growth during the forecast period.
Cybersecurity concerns related to connected car technologies is a major challenge hindering the market. As more cars become increasingly connected and reliant on digital systems, they become prone to cyber threats including hacking, malware, and data breaches. In addition, these threats can potentially compromise the safety, privacy, and functionality of connected vehicles.
Moreover, one of the primary concerns is the potential for unauthorized access to vehicle systems, allowing hackers to remotely control critical functions such as braking, acceleration, and steering. In addition, cyber-attacks targeting connected car systems can result in the theft of sensitive personal information, including location data, driver profiles, and financial details. Hence, such factors are negatively impacting the market which in turn hinders the market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AMERICAN MODIFIED: The company offers car body kit such as Civic Body Kits, Accord Body Kits, Mustang Body Kits, Tesla Body Kits, camaro body Kits and others.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The fiberglass segment is estimated to witness significant growth during the forecast period. In the global market, the fiberglass segment stands out as a popular material choice due to its lightweight properties, durability, and ease of molding into intricate shapes. In addition, fiberglass body kits typically consist of components such as bumpers, side skirts, fenders, and spoilers, offering both aesthetic enhancement and aerodynamic benefits.
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The fiberglass segment was the largest segment and was valued at USD 42.03 billion in 2018. Moreover, factors driving the growth of this segment include the versatility of fiberglass, which allows for the creation of complex designs and customization options to meet diverse consumer preferences. In addition, the affordability of the material compared to alternatives such as carbon fiber contributes to its widespread adoption for car body kits. Furthermore, the increasing demand for aftermarket modifications and vehicle personalization further propels the growth of the fiberglass body kit segment. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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Europe is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Another region offering significant growth opportunities to companies is APAC. The APAC region plays a key role in the global market, influenced by significant growth opportunities and a burgeoning automotive aftermarket industry. In addition, with a large population and rising disposable incomes in countries such as China, India, Japan, and South Korea, APAC presents a fertile ground for the expansion of the market. Moreover, the automotive market in APAC is experiencing rapid growth, fueled by factors such as increasing disposable income, urbanization, and infrastructural developments.
Therefore, there is a growing emphasis on vehicle customization and safety enhancements, which directly boosts the demand for car body kits. In addition, technological advancements in the automotive sector, including the integration of smart features and connectivity solutions, are driving the adoption of advanced car body kits in the APAC region. Furthermore, consumers are increasingly seeking convenience, comfort, and safety features in their vehicles, leading to a surge in demand for car body kits offering functionalities such as Bluetooth connectivity, GPS navigation, and advanced driver assistance systems (ADAS). Hence, such factors are driving the market growth in APAC during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market is influenced by various factors, including the presence of car dealerships and service centers facilitating installation. However, supply chain disruptions and manufacturing activities impact operations. OEMs cater to a young population seeking individuality and comfortable, noticeable vehicles. Car enthusiasts prefer premium sports cars with aerodynamic kits and bumper tuning, though accidents and high installation costs pose challenges. Stringent regulations from governments, particularly regarding electrification and lightweight materials, affect manufacturing processes. Leading competitors like Novitec Group and TECHART Automobildesign GmbH drive global demand with innovative exterior modifications and performance enhancements. The market caters to various body styles, offering composites and ABS plastic components for hatchbacks, sedans, and MPVs, ensuring aggressive, sporty appearances and improved vehicle outlook. Manufacturers like Skoda, Volkswagen, and Toyota introduce models like the Skoda Enyaq Coupe iV and Toyota Fortuner Legender, leveraging taxation policies and regulations to offer diverse body kit components and maintain warranty standards, thereby enhancing industry competitiveness.
Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.82% |
Market Growth 2024-2028 |
USD 35.74 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.34 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
Europe at 33% |
Key countries |
US, Japan, China, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AMERICAN MODIFIED, American Plastic Technologies, BRABUS GmbH, DAMD Inc., DMC, FACTORY FIVE LICENSING INC., JapSalon, Kohl Automobile GmbH, Larte design, Mansory Design and Holding GmbH, Maxton Design Ltd., Modsters Automotive, Motoren Technik Mayer GmbH, Novitec GmbH and Co. KG, ONDORISHOP MATTHIEU SCOTLAND, TONG YANG GROUP, TopCar Design, Tyre Wall Stickers ltd, Volkswagen AG, and Yiwu Jony Auto Parts Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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