Enjoy complimentary customisation on priority with our Enterprise License!
The automotive skid plate market size is forecast to increase by USD 59.36 billion, at a CAGR of 9.9% between 2023 and 2028. The market size. The growth of the market depends on several factors such as the growing interest in off-road activities among consumers, the increasing availability of bumper skid plates as OEM fitment in compact SUVs and crossovers, and the rising availability of skid plates at the online marketplace.
The report includes a comprehensive outlook on the Automotive Skid Plate Market, offering forecasts for the industry segmented by Application, which comprises SUV, Pick up truck, ATV, adventure motorcycle, and others. Additionally, it categorizes Distribution Channel into OEM, and aftermarket, and covers Regions, including North America, APAC, Europe, South America, and Middle East and Africa. The market report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
For More Highlights About this Report, Download Free Sample in a Minute
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.
The rising availability of skid plates in the online marketplace is the key factor driving the market growth. The global automotive skid plate market is witnessing the emergence of e-commerce players that offer skid plates along with other accessories, owing to the growing buyer preference to purchase products online due to its convenience. In the automotive aftermarket industry, the e-commerce platform has been fueling the sales of aftermarket products and services. Currently, consumers can purchase most of the original equipment replacement parts and aftermarket products/services online.+
Furthermore, body accessories such as skid plates are available on the websites of vendors operating in the e-commerce platform. The online availability of skid plates has increased in the last couple of years, facilitating consumers to choose depending on their requirements. Thus, such trends are giving consumers more options to choose from and are expected to help in the growth of the global automotive skid plate market during the forecast period.
Growing focus on the use of advanced materials in automotive skid plates is the primary trend shaping market growth. Align with market trends and analysis, skid plate manufacturers are increasingly exploring and integrating cutting-edge materials to enhance the performance, durability, and weight characteristics of their products. The utilization of advanced materials addresses the dual challenge of providing robust protection to the vehicle undercarriage while aligning with the industry's focus on lightweight design for improved fuel efficiency and performance. One notable example of advanced material utilization is the incorporation of high-strength alloys in skid plate manufacturing.
Furthermore, skid plates constructed from carbon fiber composites offer enhanced protection without adding unnecessary bulk, making them particularly appealing in applications where minimizing weight is crucial, such as in high-performance or electric vehicles. Thus, the growing use of advanced materials in automotive skid plates is expected to drive the growth of the market in focus during the forecast period.
The availability of fake, low-quality skid plates in the aftermarket is a challenge that affects market growth. The global automotive aftermarket is a highly competitive, unorganized market, which experiences varied market dynamics. It comprises numerous international and regional players, which offer a wide range of products for different categories and segments of automobiles. Furthermore, fake products in the aftermarket can create trust issues among consumers. This scenario can be seen in the global automotive skid plate market as well, where fake, poor-quality skid plates are available.
Moreover, the global automotive aftermarket is a highly unregulated market, where the probability of finding fake or low-quality products is higher than the products that meet the quality standards. The availability of such fake or counterfeit aftermarket products is increasing every year, owing to growing competition and the emergence of new players with a competitive pricing model. Thus, such factors may impede the growth of the global automotive skid plate market during the forecast period.
The market research and growth 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 market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Skid Plate Market 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.
The research 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 SUV segment is estimated to witness significant growth during the forecast period. SUVs have witnessed a surge in popularity globally, becoming a preferred choice for consumers seeking a diverse range of functionalities in a single vehicle. SUVs are designed to tackle off-road conditions and uneven terrain. Therefore, these vehicles have high ground clearance, skid plates, and side body cladding. Skid plates are an important design parameter for SUVs, as they protect the underbody of the vehicle from any type of damage. The availability of bumper skid plates (front or rear or both) across all segments of SUVs (small-size, mid-size, and large-size) is high.
Get a glance at the market contribution of various segments Download the PDF Sample
The SUV segment was the largest segment and was valued at USD 56.09 billion in 2018. The availability of skid plates as an OEM fitment has increased in SUVs, wherein the front and rear skid plates (front bumper and rear bumper) have become common fitment in most entry-level SUVs. In some cases, they are offered as an accessory or add-on package at the dealership level. In the aftermarket, the availability of skid plates for SUVs has also increased. The consumer can now buy skid plates from stores or online websites. Some vendors offering skid plates for SUVs in the aftermarket are Asfir Technologies Ltd and All-Pro Off-Road. Thus, the growing SUVs will continue to drive the growth of the market through the SUV segment during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 48% 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. The automotive market in North America is dominated by utility vehicles such as pickup trucks, sport-utility vehicles (SUVs), and crossovers. Furthermore, the popularity of recreational vehicles is high in countries such as the US and Mexico, owing to the all-around ability of such vehicles that can be easily used for personal use and commercial activities.
In addition, North America is home to some of the prominent market players that offer skid plates. Most of these vendors are based in the US, with headquarters in different states. All-Pro Off-road, Setina Manufacturing Inc, RCI Offroad, and Ricochet Off-Road are some of the prominent players based in North America. Hence, such factors are expected to drive market growth in this region during the forecast period.
The automotive skid plate market analysis and report forecasts market growth analysis by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends from 2018 to 2028.
Automotive Skid Plate Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.9% |
Market Growth 2024-2028 |
USD 59.36 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.78 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 48% |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ace Engineering and Fab, All Pro Off Road, ARB USA, ARTEC INDUSTRIES LLC, Asfir Technologies Ltd., Budbuilt, Carbon Fox, Clayton Offroad, Cycra, Dirtbound Inc., Enthusiast Auto Holdings, EVO MFG, GenRight Off Road Inc., ICON Vehicle Dynamics, JCROFFROAD INC., JOES Racing Products, Relentless Off Road Fabrication, Ricochet Off Road, Setina Manufacturing Inc., and Steel Skid Plate |
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.
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.