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 automotive skid plate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The suv segment is estimated to witness significant growth during the forecast period.
The aftermarket industry has experienced significant growth in the US market, with a focus on underbody protection becoming increasingly popular among consumers. Fuel tank protection, a critical component of underbody shielding, is in high demand, particularly for heavy-duty vehicles and performance vehicles used in off-road activities such as rock crawling and trail driving. Aluminum skid plates and custom skid plates are popular choices due to their lightweight properties and superior corrosion resistance. Performance enhancements are a significant factor driving the demand for these protective components, as they provide impact resistance and suspension protection, ensuring the vehicle's durability and longevity.
Commercial vehicles, including delivery trucks and construction equipment, also require robust underbody protection. Composite skid plates and welded skid plates are popular options due to their high abrasion resistance and differential protection capabilities. Transmission protection is another essential consideration for commercial vehicles, ensuring the smooth operation of the vehicle and reducing downtime. Bolt-on skid plates offer a cost-effective solution for consumers seeking aftermarket replacement parts. OEM skid plates are also available, providing a perfect fit and ensuring optimal vehicle protection. Material science plays a crucial role in the development of skid plates, with ongoing research focusing on improving the strength and durability of lightweight materials.
In summary, the market for underbody protection in the US is thriving, driven by the popularity of SUVs and the demand for performance enhancements and durability in both consumer and commercial applications. The use of advanced materials and ongoing research in material science will continue to shape the market, offering innovative solutions for vehicle protection.
The SUV segment was valued at USD 56.09 billion in 2018 and showed a gradual increase during the forecast period.
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 market in North America experiences significant growth due to the high prevalence of utility vehicles, including pickup trucks, SUVs, and crossovers. These vehicles are popular for their versatility, suitable for both personal use and commercial activities. The region's diverse terrain, featuring mountains and rocky surfaces, further boosts the demand for skid plates. Skid plates provide essential underbody protection for fuel tanks, differentials, transmissions, suspensions, and engines, enhancing vehicle performance and durability. Manufacturers offer various types of skid plates, such as bolt-on, welded, aluminum, steel, composite, and custom designs. Lightweight materials like aluminum and composites are increasingly used for their abrasion resistance and impact resistance, catering to the performance-oriented vehicle market.
The aftermarket industry plays a crucial role in the market, offering replacement parts and upgrades for various vehicle models. Heavy-duty vehicles, including commercial trucks and off-road vehicles, also contribute significantly to the market. Skid plates for these vehicles offer superior ground clearance, corrosion resistance, and protection against impacts and abrasions. Material science advancements have led to the development of skid plates with enhanced strength and durability, catering to the evolving needs of the automotive industry.
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 automotive skid plate 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 automotive skid plate market 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, automotive skid plate market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Ace Engineering and Fab - The company specializes in manufacturing and supplying robust skid plates for automotive applications.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key 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 industry 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 market continues to evolve, driven by the diverse needs of various sectors. Fuel tank protection and underbody shielding remain key applications, with the aftermarket industry playing a significant role in catering to these demands. Rock crawling enthusiasts seek robust aluminum skid plates for their heavy-duty vehicles, while custom skid plates cater to trail driving and vehicle customization. Performance enhancements and lightweight materials are shaping the market, with performance vehicles and commercial vehicles benefiting from composite skid plates. Material science advances bring corrosion resistance and impact resistance to the forefront, enhancing skid plates' protective capabilities.
Ground clearance and differential protection are essential considerations for off-road vehicles, leading to the development of bolt-on skid plates. Suspension protection is another critical aspect, with steel and welded skid plates offering robust solutions. Transmission protection is also gaining importance, as aftermarket skid plates increasingly become replacement parts for OEM offerings. The ongoing market dynamics reflect the continuous unfolding of activities across sectors, with each application presenting unique challenges and opportunities. The evolving patterns in skid plate design and materials underscore the industry's commitment to providing effective vehicle protection.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Automotive Skid Plate Market insights. See full methodology.
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 |
Key countries |
US, Canada, China, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this automotive skid plate 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 Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
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.