Technavio, a tech-focused market research firm, has published a new report on the global automotive mudguards market, which is expected to grow at a CAGR of close to 5% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global automotive mudguards market into the following key regions: the Americas, APAC, and EMEA.
Top three contributors for the global automotive mudguards market are elaborated below:
Automotive mudguards market in APAC: India and China are key revenue contributing countries in the automotive mudguards market in APAC. India has the maximum growth in APAC, while China has the largest market share in terms of volume in the automotive mudguards market. The growth of the automotive mudguards market in APAC is driven primarily by the demand for commercial as well as passenger vehicles in the region.
According to Siddharth Jaiswal, a lead analyst at Technavio, specializing in research on automotive components, “The increase in disposable income and launch of newer car models by OEMs are the main drivers of the automotive markets in China and India. Growing employment opportunities in India and China are pushing the per capita income higher. This is driving the market for passenger cars in China and India, despite the increasing rates of traffic congestion, government regulations for owning passenger cars, and rise in the levels of vehicular pollutions.”
Automotive mudguards market in the Americas: The decrease in the price of gasoline coupled with the easy availability of credit is propelling the sale of cars in the Americas, subsequently resulting in the increased demand for automotive mudguards. The US, Canada, and Brazil are some of the key revenue contributors in the automotive mudguards market in the Americas. Technavio’s industry analysts estimate the market in this region to account for more than 109 million units by 2021.
Automotive mudguards market in EMEA: The automotive mudguards market in Europe accounted for the maximum share of the market in EMEA in 2016, with majority of the revenue being accounted for by countries such as the UK, Italy, Spain, Germany, and France. An inclination toward quality automobiles and higher income levels are driving the market for automotive mudguards in the Middle East.
The leading vendors operating in the global automotive mudguards market are:
Other prominent vendors in the market include Rhino Manufacturing, KN Rubber, KWIK PFYT mud flaps, Sant Manufacturers, and FIEM Industries.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Mudguards Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Automotive Seats Market 2017-2021
- Global Two-wheeler Upside-down Forks Market 2017-2021
- Global Commercial Vehicle Poly-V Belt Market 2017-2021
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