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The truck bedliners market size is estimated to increase by USD 1,245.1 million between 2022 and 2027. The market size is forecast to grow at a CAGR of 7.31%. The growth of the market depends on several factors including growing sales of pickup trucks, increasing availability of truck accessories offered by OEMs, and rising uptake of spray-on bedliners.
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Our researchers analyzed the data with 2022 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.
Growing sales of pickup trucks is the key factor driving the growth of the market during the forecast period. The increase in the sales and the presence of a large fleet improve the market potential of the players operating in the market. The US leads the world in the pickup truck market. Despite the pandemic, US light truck sales surpassed 1.2 million units in March 2021. Demand has increased dramatically as pickup trucks continue to gain popularity across the world.
Moreover, the market has grown as more owners want to protect their trunks from dents, scratches, and rust. Global sales are likely to grow as consumers realize the importance of protecting their priceless assets. Hence, the growth in pickup sales will support the growth of the global market during the forecast period.
The growing use of pure polyurea in spray-on bedliners is the primary trend in the market. Global market players are using their expertise and knowledge to develop tough, durable, and scratch-resistant bedliners. To create such bedliners, suppliers use advanced forms of elastomers, especially spray-on bedliners. Most of the time, suppliers use polyurea blends, which are mixtures of different elastomers. Therefore, the use of 100% polyurea offers maximum strength, flexibility, and toughness.
Moreover, in terms of chemical properties, pure polyurea offers higher tensile strength, tear resistance, hardness, elongation, and UV resistance. Additionally, it offers outstanding resistance to fading, leaks, rust, and corrosion and an outstanding, long-lasting shine. Prominent suppliers are also focusing on developing less hazardous pray-on bedliners by reducing volatile organic compounds (VOCs). Such developments are expected to accelerate the growth of the global market during the forecast period.
Fluctuating costs and availability of raw materials used in bedliners affect the growth of the market. Pricing and accessibility of raw materials, particularly plastics and polymers, pose significant challenges for manufacturers in the globalmarket. Changes in raw material prices can directly affect production costs, leading to reduced profit margins for players. In addition, delays in production and order fulfillment may affect the competitiveness of the relevant market in the event of supply chain disruptions or shortages of certain products.
Moreover, it can be difficult for manufacturers to stock high-quality raw materials, which can lead to fluctuations in the quality of the end product. Therefore, the industry is susceptible to changes in raw material dynamics due to its dependence on plastics and polymers as important components of bedliner. Thus, the volatility in raw material prices is expected to create a challenge that could impede the growth of the global market during the forecast period.
The market research 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 growth strategies.
Global 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.
Truck Hero Inc.: The company offers truck bedliners such as Classic Bedliner and Impact Bed Liner, under the brand name BedRug.
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 drop-in segment is estimated to witness significant growth during the forecast period. The combination of installation cost, quality, and durability of drop-in bedliners to meet customer requirements can be seen as a great value for money purchase, especially for first-time buyers. The price of drop-in varies depending on the truck make and brand, as well as the size of the bed surface.
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The drop-in segment was the largest segment and was valued at USD 1,305.94 million in 2017. The segment also sees R&D activities to develop high-strength materials that improve the performance of next-generation drop-in bedliners. Furthermore, some suppliers offer other related truck accessories, such as bed mats and sheets in addition to bedliners. The availability of a wide range of products helps these players to serve different customer segments efficiently. Penda and Truck Hero Inc are among the market players that focused on delivering customized offers through aftermarket channels to meet the needs of truck owners. Hence, such factors will drive the growth of the market during the forecast period.
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North America is estimated to contribute 45% 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. In North America, utility vehicles, such as pickups, sport utility vehicles (SUVs), and crossovers, dominate auto sales. In North America, the US and Canada are among the leading markets. These countries show high demand for light trucks (such as pickup trucks), which leads to an increase in preference for truck accessories such as bedliners. Furthermore, the availability of multiple companies offering bedliners solutions is a direct factor influencing the competitive scenario of the regional market. The growing availability of spray bedliners DIY kits in the region is further driving the growth of the market in this region during the forecast period.
The Global Market observes a steady rise in market value and CAGR, driven by the transportation and logistics industry's demand for protection against bulk cargo. Safety regulations in the automotive industry foster the adoption of bedliners, offering a nonslip surface and customizable designs. Lucrative opportunities arise from rising disposable income and increasing urban populations, particularly in the Asia Pacific region. End-users, including medical equipment transporters, benefit from the antiskid layer and multi-purpose applications. However, challenges such as lack of knowledge and damage from immediate investments may hinder market growth. Future Market Insights provides competitive intelligence, highlighting changing market dynamics and the importance of user-friendly, customizable designs.
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 2017 to 2027.
Truck Bedliners Market Scope |
|
Report Coverage |
Details |
Page number |
156 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.31% |
Market growth 2023-2027 |
USD 1,245.1 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.96 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 45% |
Key countries |
US, Canada, China, Japan, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Axalta Coating Systems LLC., Carlisle Companies Inc., DualLiner LLC, Eastern Polymer Group Public Co. Ltd., Fabick Inc., Industrial Polymers Corp., Kruger Family Industries, LINE-X LLC, Penda, Recochem Inc., Rhino Linings Corp., RPM International Inc., Scorpion Protective Coatings Inc., Simmons Industries Inc., Speedokote LLC Inc., The Sherwin Williams Co., Truck Hero Inc., Ultimate Linings Ltd., Vandapac Co. Ltd., and WeatherTech Direct LLC |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our market growth and trends report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
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
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