Technavio, a tech-focused market research firm, has published a new report on the global automotive skid plate market, which is expected to grow at a CAGR of around 17% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global automotive skid plate market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Automotive skid plate market in the Americas: The growth of the automotive skid plate market in the Americas is attributable to the increased adoption of SUVs, pickup trucks, adventure motorcycles, and ATVs, owing to the regional demographics that encourage people to buy large-size vehicles. Furthermore, declining gasoline prices, increasing credit availability, the emergence of new models, and better leasing options are other key factors that are propelling the growth of the American SUV market and in turn, the demand for skid plates in the region.
According to Siddharth Jaiswal, a lead analyst at Technavio, specializing in research on automotive components, “The sales of off-road trucks and sport utility vehicles are rapidly outpacing the sales of all other vehicles types in the US as the consumers are exchanging classic and premium sedans with large SUVs and pickup trucks. The rise in the sales volumes of off-road vehicles is propelling the demand for automotive skid plates in the Americas.”
Automotive skid plate market in APAC: The growth of the automotive skid plate market in APAC is anticipated to be concentrated around developing economies such as China and India. Improving economic conditions and other socio-economic factors such as cheap labor, the increasing number of automotive manufacturing plants, and the changing consumer preference toward large and spacious vehicles are factors that will aid the growth of the market in this region during the forecast period. Technavio’s market research analysts estimate the automotive skid plate market in APAC to account for around 29 million units by 2021.
Automotive skid plate market in EMEA: The European automotive market is witnessing high volume sales of SUVs, which reflects positively on the growth prospects of the automotive skid plates market. Other major factors that contribute to the growth of this market in Europe are the decrease in the price of gas and the economic improvement of the region. The market in this region is dominated primarily by the motorcycle OEMs.
The leading vendors operating in the global automotive skid plate market are:
- All-Pro
- Offroad
- Setina Manufacturing Company
- RCI Metalworks
- Relentless Off-road Fabrication
Other prominent vendors in the market include BudBuilt and PELFREYBILT.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Skid Plate Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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- Global Motorcycle Clutch Market 2017-2021
- Global Automotive Variable Geometry Turbocharger Market 2017-2021
- Global Motorcycle Instrument Cluster Market 2017-2021
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